Farmers Bank - Osyka, MS

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 1, 1930*
Location: Osyka, Mississippi (31.007, -90.472)

Metadata

Model: gpt-5-mini
Short Digest: 70b24fc2

Response Measures

Full suspension

Other: Bank paid a dividend and made large cash payouts to depositors after closing; unclear if full reopening occurred.

Description

Article (Jan 27, 1931) reports Farmers Bank of Osyka closed in October after a 'run' and since closing has been paying depositors and paying a dividend — indicating it suspended and remained closed while liquidating/payments were made. OCR errors corrected (e.g., 'released per cent dividend' and garbled numbers). Year of closing inferred as October 1930 because article is Jan 1931 and says 'closed October.' Cause inferred as public panic/rumors ('state of the public mind').

Events (2)

1. October 1, 1930* Run

Cause: Rumor Or Misinformation
Cause Details: Public panic/'state of the public mind' led to a run in October (article attributes closing to a run and public nervousness).
Measures: Paid out funds to depositors over following months and issued a dividend to depositors; paid outstanding bills and public moneys.
Newspaper Excerpt: The Osyka bank closed October halt run,
Source: newspapers

2. October 1, 1930* Suspension

Cause: Rumor Or Misinformation
Cause Details: Bank closed following the October run caused by public nervousness; subsequently made payments to depositors and issued a dividend while closed.
Newspaper Excerpt: The Osyka bank closed October halt run, and bank officials stated that since that date more than had been paid to depositors and creditors
Source: newspapers

Newspaper Articles (1)

1. January 28, 1931 The Times Shreveport, LA

Article from The Times, January 28, 1931

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Article Text

FIRST CLASS "GOOD NEWS" Payment of Railroad Taxes and Dividend From Closed Bank in McComb McComb, Miss., Jan. 27 Items of first-class "good news" broke here Tuesday on the heels of the recent closing of the city's three banks "because of the state of the public mind." The Illinois Central railroad, McComb's largest single taxpayer, paid Its 1930 city tax bill. in the sum of $43,003 ahead of the time allowed for payment The Farmers' Bank of Osyka, south of here. that had released per cent dividend to all depositors, turning about $25,000 loose in the community. The Osyka bank closed October halt "run," and bank officials stated that since that date more than had been paid to depositors and creditors They said the institution had taken care of its outstanding bills payable, paid back nearly $12,000 of public moneys and approximately $24,500 to depositors. Approximately $20,000 paid out by the bank during the week previous its closing, total of over $72,000 in cash released by the bank in the past four months, the announcement said.