Liberty State Bank

Episode Information

Episode UID: 83137771527
Episode Type: Run → Suspension → Closure
Bank Type: state
Bank ID: 8313777 routing
Routing Number: 83-1377
Start Date: March 3, 1927
Location: Paola, Kansas (38.572, -94.879)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: a4c60b269a81b734

Response Measures

None

Description

Bank entered liquidation via Miami County National after depositor withdrawals triggered by circulated reports.

Events (3)

1. March 3, 1927 Run

Cause: Rumor Or Misinformation
Cause Details: Reports circulated about the bank prompted patrons to withdraw funds.
Measures: Arranged liquidation through Miami County National bank to ensure depositors paid in full.
Newspaper Excerpt: after a few patrons had started withdrawing funds from the Liberty State yesterday.
Source: newspapers

2. March 4, 1927 Other

Newspaper Excerpt: The arrangement will result in all depositors receiving every cent of their money, it was pointed out today. The Liberty State bank had deposits aggregating $300,000 and loans of virtually the same total. Interested persons said the bank was not in bad condition but slow loans made it advisable to liquidate, in face of reports circulated about the bank.
Source: newspapers

3. March 4, 1927 Suspension

Cause: Voluntary Liquidation
Cause Details: Owners/management arranged liquidation through another bank after withdrawals and slow loans; intended to pay depositors in full.
Newspaper Excerpt: Liquidation of the Liberty State bank of this city through the Miami County National bank started here today
Source: newspapers

Newspaper Articles (1)

1. March 4, 1927 The Kansas City Post Kansas City, MO

Article from The Kansas City Post, March 4, 1927

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Article Text

PAOLA BANK TO PAY DEPOSITORS PAOLA, KAS., March 4.—(Special)—Liquidation of the Liberty State bank of this city through the Miami County National bank started here today as a result of an arrangement which was made last night after a few patrons had started withdrawing funds from the Liberty State yesterday. The arrangement will result in all depositors receiving every cent of their money, it was pointed out today. The Liberty State bank had deposits aggregating $300,000 and loans of virtually the same total. The capital was $35,000 and surplus $10,000. Frank M. Fisher was president and Harry T. Snook cashier. The bank was organized eight years ago. Interested persons said the bank was not in bad condition but slow loans made it advisable to liquidate, in face of reports circulated about the bank. Frank W. Sponable is president of the Miami County National bank and H. H. Whitaker is cashier. This leaves Paola with two banks, the other being the Citizens' State bank.