Cosby State Bank - Cosby, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 1, 1927*
Location: Cosby, Missouri (39.864, -94.678)

Metadata

Model: gpt-5-mini
Short Digest: 8d369281

Response Measures

Full suspension, Books examined

Other: State Finance Board/deputy finance commissioner took charge and named special deputy to liquidate.

Description

Articles report the Cosby State Bank was run on for about ten days prior to closing in April 1927 (panic partly caused by the Clarksdale bank failure), then state finance authorities closed/took charge and a deputy was appointed to liquidate. A later article (Nov 1927) describes the deputy asking court permission to pay a dividend to depositors, consistent with permanent closure/liquidation. OCR errors corrected (e.g., 'Cosby State Bank closed April 30').

Events (3)

1. April 1, 1927* Run

Cause: Local Banks
Cause Details: Heavy withdrawals (about ten days) triggered by consternation following the April failure of the Clarksdale bank and related local bank trouble
Measures: None noted besides attempts to meet state requirements; state examiner/deputy later took charge
Newspaper Excerpt: reported to have been the bank for ten days prior closing which exhausted the cash hand
Source: newspapers

2. April 30, 1927 Suspension

Cause: Government Action
Cause Details: State finance board/examiner ordered the bank closed and a deputy finance commissioner took charge to liquidate after impaired capital from bad and slow loans and exhaustion of cash
Newspaper Excerpt: Bank Cosby closed ... board of directors of the Cosby State Bank of Cosby ordered doors closed. bank examiner sent take charge until special deputy named liquidate
Source: newspapers

3. November 18, 1927 Other

Newspaper Excerpt: Neville Dickson, who the deputy finance charge the Cosby State Bank, will appear before Judge Park ... permission pay dividend the depositors bank. ... The Cosby State Bank closed April 30. ... will ask twenty dividend. This will depositors that community around The Cosby State Bank closed April 30. pathetic closing caused ... Clarksdale bank failure and some bad failure .
Source: newspapers

Newspaper Articles (2)

1. May 6, 1927 Savannah Reporter and Andrew County Democrat Savannah, MO

Article from Savannah Reporter and Andrew County Democrat, May 6, 1927

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Article Text

BANK COSBY CLOSED Bank failure 19 Missouri 1927, was reported last Saturday State Finance Cantley, when board of directors of the Cosby State Bank of Cosby ordered doors closed. bank examiner sent take charge until special deputy named liquidate The statement of condition of the bank, made of April 1927, the Loans real estate owned, $25,000; due from other banks and on hand, capital, surplus, $10,000; deposits, bills payable, $20,000; Kline president and Peters cashier. Impaired capital due to slow and bad loans attributed the reason for the of the bank. Then there reported to have been the bank for ten days prior closing which exhausted the cash hand. Messenbaugh the deputy finance commissioner charge the evening April and bank closed the with morning different deputy finance for few hours. The Clarksdale bank closed April and seemed produce the sternation which caused sufficient make the deposits the state requirements at Cosby.

2. November 18, 1927 Savannah Reporter and Andrew County Democrat Savannah, MO

Article from Savannah Reporter and Andrew County Democrat, November 18, 1927

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Article Text

COSBY STATE BANK DIVIDEND Neville Dickson, who the deputy finance charge the Cosby State Bank, will appear before Judge Park at Savanin the circuit court today and permission pay dividend the depositors bank. thought that will ask twenty dividend. This will depositors that community around The Cosby State Bank closed April 30. pathetic closing caused bank the time the Clarksdale bank failure and some bad failure.