Farmers Bank (Casa, AR)

Episode Information

Episode UID
81059271571
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
8105927 routing
Routing Number
81-0592
Start Date
November 17, 1930
Location
Casa, Arkansas (35.023, -93.048)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ce196c0650a82ddb

Response Measures

None

Description

Suspension was part of a coordinated temporary closing of banks affiliated with A. B. Banks; reopening announced later.

Events (2)
1. November 17, 1930 Suspension
Cause Details
Temporary, precautionary suspension by the A. B. Banks-affiliated group to protect depositors and avoid runs.
Newspaper Excerpt
Thirty-two banks ... temporarily suspended business this morning, with announcements being made to the effect that they would reopen for business after five days.
Source
newspapers
2. January 2, 1931 Reopening
Newspaper Excerpt
the Farmers' Bank at Casa. (State Banking Commissioner ... announced the reopening of three banks today.)
Source
newspapers

Newspaper Articles (3)
1. November 17, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 17, 1930

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Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which A. B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state. Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed, according to statements made this morning. The following United Press dispatch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.—The following banks in which A. B. Banks company is interested suspended business temporarily this morning: Bank of Altheimer, Altheimer; North Arkansas Bank, Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton; Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora; Hampton State Bank, Hampton; Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Helena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston; Merchants and Planters Bank, Humphreys; First National Bank, Junction City; Merchants and Farmers Bank, Junction City; Cleveland County Bank, Kingsland; Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola; Bank of Pangburn, Pangburn; Perry State Bank, Perry; Merchants and Planters Bank and Trust Company, Pine Bluff; Victoria Bank, Strong; First State Bank, Thornton; Bank of Wabbaseka, Wabbaseka; Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott. Bank of Fordyce, Fordyce; Exchange Bank of Dermott, and Sheridan, closed at noon, due to heavy runs this morning.

2. November 17, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 17, 1930

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Article Text

THIRTY ARKANSAS BANKS CLOSED 5 DAYS BY ORDERS (Continued From First Page) could have forced the closing of this strong bank." Soon after Caldwell & Company was placed in receivership, Mr. Banks announced the Caldwell & Company's interest in the American Exchange Trust Company had been bought by Little Rock capitalists. The Pine Bluff bank was the second largest in the group and the Helena institution the third largest. Banks was a director and a former president of the bank. The American Exchange Trust Company in Little Rock had deposits of approximately $15,000,000 on September 24, the date of the last bank call. The Pine Bluff bank on September 24 had deposits of approximately $2,638,000 and the Helena bank at the close of business Saturday had deposits of $726,000, officials said. List of Institutions The banks in which Mr. Banks and assistants are interested and which suspended business today for five days were announced by the company as follows: The bank of Altheimer, Altheimer; North Arkansas Bank, Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton; Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon, Clarendon; Farmers Bank, Dardanelle; Hampton State Bank, Hampton; Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Helena; Bank of Houston, Houston; Merchants and Planters Bank, Humphrey; Cleveland County Bank, Kingsland; Chicot Trust Company, Lake Village; American-Exchange Trust Company, Little Rock; First State Bank, Morrilton; Arkansas Trust Company, Newport; Bank of Pangburn, Pangburn; Perry State Bank, Perry; Merchants and Planters Bank and Trust Company, Pine Bluff; Bank of Star City, Star City; Victoria Bank, Strong; First State Bank, Stuttgart; Citizens Bank, Thornton, and Bank of Wabbaseka, Wabbaseka; The Arkansas Bank and Trust Co., Hope; Peoples Bank, McRea; and the Endora Bank and Trust Co., Endora. The following banks affiliated with the A. B. Banks and Company remained open for business, the company announced: The Bank of Fordyce and the First National Bank, Fordyce; Bank of Harrisburg, Harrisburg; First National Bank, Mineral Springs; Bank of Stephens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at Junction City to merge the first National Bank and the Merchants and Farmers Bank, and open one of them today, officials said.

3. January 3, 1931 The Morning Union Springfield, MA

Article Text

Affairs of New York Bank "Scrambled." NEW YORK, Jan. 2—(AP) The intermingled financial affairs of four subsidiary corporations of the closed Bank of United States were described today as a "corporation omelet" at a bankruptcy hearing on the affairs of the corporations. Carl J. Austrian, representative at the hearings for Joseph E. Broderick, state superintendent of banks who closed the institution last Dec. 11, offered this comment on the situation after Saul Singer, vice-president and chairman of the bank's executive committee, testified on the financial structure of the four companies. Singer declared all four were solvent. The subsidiaries, which went into bankruptcy last Wednesday, are the Bankus Corporation of New York, the City Financial Corporation, the Municipal Financial Corporation and the Delaware Bankus Corporation. After long and involved testimony, counsel for the receiver asked Singer, "If a man had 100 shares of City Financial he then received 56 units, each unit made up of one share of Bankus Corporation and one share of Bank of United States. Is that right?" "Yes, that's right," the witness replied. In response to a question as to how much had been raised for the corporations from the public, Singer said $33,500,000 had been raised and then an additional $14,700,000 had been borrowed, making a total of $48,200,000. Mississippi Banks Close. JACKSON, Miss., Jan. 2—(AP) Withdrawals by depositors today was given as the reason for the closing of five Mississippi banks taken over by state and Federal departments. The closed banks were the First National Bank of Pontotoc, with deposits of $600,000 and capital stock of $125,000; Bank of Pontotoc, deposits $534,000 and capital stock $100,000; Citizens' Bank at Winona, deposits $260,000 and capital $25,000; Bank of Blue Mountain with deposits of $179,000 and capital $10,000; Bank of Derma with deposits of $50,000 and $10,000 capital. Arkansas Banks Reopen. LITTLE ROCK, Ark., Jan. 2—(AP) State Banking Commissioner Walter E. Taylor announced the reopening of three banks today. Those reopening are: The Eudora Bank as successor to the closed Eudora Bank and Trust Company at Eudora; the Bank of Salem at Salem and the Farmers' Bank at Casa. Alabama Bank Closed. MONTGOMERY, Ala., Jan. 2—(AP) Dent F. Green, state superintendent of banks, announced late today the People's Bank of Gilbertown had closed. Capital stock was listed at $15,000 with a surplus of $3000. Deposits on Nov. 20, 1930, were $61,880.