Farmers Bank - Tate, TN

Episode Information

Episode UID: 5745602291472
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 574560229 hash
Start Date: August 30, 1922
Location: Tate, Tennessee

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 8a2dc86443f951b8

Response Measures

None

Description

Article reports an arranged takeover to avoid receivership; no explicit mention of a formal suspension.

Events (1)

1. August 30, 1922 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had liabilities of approximately $30,000 and was close to receivership; affairs taken over by another bank.
Newspaper Excerpt: he prevented the Farmers' Bank of Tate from going into the hands of a receiver by arranging with the Citizens' Bank & Trust company of Rutledge to take over the affairs of the Tate bank.
Source: newspapers

Newspaper Articles (1)

1. August 30, 1922 Grainger County News Rutledge, Jefferson City, TN

Article from Grainger County News, August 30, 1922

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Article Text

ADVERTED A RECEIVERSHIP State Superintendent of Banks S. S. McConnell has returned to his office after a trip to East Tennessee where he prevented the Farmers' Bank of Tate from going into the hands of a receiver by arranging with the Citizens' Bank & Trust company of Rutledge to take over the affairs of the Tate hank. The Tate bank has liabilities of approximately $30,000, he reported. Nashville Correspondent of Memphis News-Scimitar.