Downing State Bank - Downing, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 25, 1933
Location: Downing, Missouri (40.488, -92.369)

Metadata

Model: gpt-5-mini
Short Digest: 990091bd

Response Measures

None

Description

Article (Feb 2, 1933) reports the Downing bank closed and placed under the state bank commission for reorganization/liquidation. The closing appears driven by withdrawals sparked by alarm from neighboring bank closings (i.e., contagion), not a discrete misinformation event. The commission man is put in charge and liquidation/receivership is mentioned, so this is a suspension that leads to closure/receivership.

Events (1)

1. January 25, 1933 Suspension

Cause: Local Banks
Cause Details: Withdrawals/alarms caused by closings of neighboring banks led depositors to withdraw funds, producing the bank's closing and commission takeover.
Newspaper Excerpt: state bank commission man has been put in charge of the banks at Queen City, Glenwood and Downing
Source: newspapers

Newspaper Articles (1)

1. February 2, 1933 The Excelsior Lancaster, MO

Article from The Excelsior, February 2, 1933

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Article Text

Closed Bank May Be Reorganized undoubtedly have other bank declared Dr. president of the Bank of Queen City which closed last week. hard to say just when can opened. will have to wait until times become settled fore can hope to re-organize.' state bank commission man has been put in charge of the banks at Queen City, Glenwood and Downing At present he working over the affairs of the banks, listing deposits and loans. Liquidation will be made either through an individual appointby the commission through the bank when organized. business man in Queen City withdrew Tunds from the bank." stated Coffey emphatically denysome of the rumors that have been floating around. "Our business back of to last. The and officials appreciate their support during the past that have been the alarm caused the closing neighboring banks that brought closing Cofexplained. weathered the closing very well. but closing the Downing bank have been gradually ing for the past four Dr Coffey revealed But that the bank could have kept open had this The bank organized July 1928, with deposits the combined banks more than $400,000. Since then has been gradual shrinkage until there little more than fourth that amount. Only unsettled times can be blamed for this City Monitor.