10207. Frohna Bank (Frohna, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 10, 1925
Location
Frohna, Missouri (37.639, -89.621)

Metadata

Model
gpt-5-mini
Short Digest
46d8f839

Response Measures

None

Description

The Frohna Bank was closed by the Missouri State Finance Department on October 10, 1925 (state-ordered closure). No contemporaneous newspaper language describes a depositor run; afterwards (Apr 1926) a liquidator (W. T. Ruff) was appointed and the bank remained in liquidation. I classify this as a suspension leading to permanent closure/receivership. 'Bank type' left as unknown because the name lacks an explicit charter indicator.

Events (2)
1. October 10, 1925 Suspension
Cause
Government Action
Cause Details
Closed by the State Finance Department (state examiner requested and board desired to close the institution).
Newspaper Excerpt
Three banks in Southeast Missouri were closed by the State Finance Department Saturday, October 10th. ... the Frohna Bank of Frohna, Perry county.
Source
newspapers
2. April 22, 1926 Other
Newspaper Excerpt
That the first reports are books of the banks balanced and were in good shape; ... the whole trouble results notes bought from the Perry County Bank, aggregating about $54,000. ... He will also pay ... the Frohna Bank a part of their claims.
Source
newspapers

Newspaper Articles (3)
1. October 23, 1925 The Weekly Record New Madrid, MO
Article from The Weekly Record, October 23, 1925

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Article Text

THREE BANKS IN S. E. MISSOURI CLOSED. Three banks in Southeast Missouri were closed by the State Finance Department Saturday, October 10th. One was the Perry County Bank at Perryville, another the Farmers Bank of Ste. Genevieve, and the third the Frohna Bank of Frohna, Perry county. This makes a total of thirty-seven bank failures in this state since the first of the year. Two of the banks failed Saturday morning and Saturday afternoon the State Finance Department was notified by the Board of Directors of the Bank of Frohna, of Frohna, Perry county, that a state examiner be sent, as they desired to close the institution. Apparently the three banks are closely interallied, as J. H. Keisler, cashier of the Perry County Bank, was a director in both the others. Four banks have closed in Southeast Missouri the past two days. The Appleton Bank of Appleton, Cape Girardeau county, failed Friday. Three bank failures in one day eclipses all previous records of the state finance department. A total of eighty are now in the hands of the bureau of defunct banks and trust companies of the state finance department for liquidation. The Perry County Bank was one of the largest and supposedly one of the most substantial financial institutions in Southeast Missouri. It's president is H. G. Keisler and its cashier, J. H. Keisler.

2. April 22, 1926 Cape County Post Jackson, MO
Article from Cape County Post, April 22, 1926

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Article Text

CROWD ATTENDED APLARGE PLETON MEETING. The meeting called for last Friday afternoon at Appleton was attended by hundred people the street and road being lined with meeting was held in the cars. The colored school house, which was jammed full and could not hold all. Prosecuting Attorney Hines was present and interrogated different persons seeking information as to various phases which had been the current comment, and subject of to look committee was appointed the bank's books. over As far as could be learned, the That the first reports are books of the banks balanced and were in good shape; that all loans made by the bank direct were good; and that the whole trouble results notes bought from the Perry County Bank, aggregating about $54,000. The first of these in 1917 and notes were purchased the last ones as late as a few weeks crash. The interest on before the these loans was kept paid up, being paid by the Kieslers. That many of worthnotes are practically these is now claimed. less Deputy Commissioner Ruff caused dishappiness to many much tressed depositors by stating that he would ask Judge Kelly when CirCourt meets here next week for dividend on all permission to pay large sums claims, as approved availcollected and are have been able. was not known how large this dividend would be, but it will and will be many persons, help followed by others, the assets of converted into cash. the bank are of the depositors He will also pay of their the Frohna Bank a part claims.

3. April 22, 1926 The Democrat-News Fredericktown, MO
Article from The Democrat-News, April 22, 1926

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Article Text

The failure of creditors of the Appleton Bank, which closed its doors last summer, to learn its present condition, has caused quite a turmoil, resulting in the appointment of a new liquidator and the calling for a meeting to be held at Appleton tomorrow, at which the prosecuting attorney will be present and examine the books of the bank to learn when certain deposits were withdrawn. The beginning of the present resentment was caused by the failure of the liquidator and his assistants, and the officers of the bank, to give any information as to conditions. The charge is made that the work of liquidation was proceeding very slow, as after four months only about $40,000 out of $180,000 outstanding loans had been collected. This resulted in a petition being sent some days ago to the Finance Commissioner, asking that new liquidator be appointed to succeed Mr. Tomlinson. Mr. French, the commissioner, acted rather promptly on the request and appointed W. T. Ruff to succeed Tomlinson. Mr. Ruff at the time the four banks failed was appointed liquidator for the failed Ste. Genevieve bank. Evidently his work has met with the hearty approval of his superiors, for in addition to finally winding up the affairs of the Ste. Genevieve bank he will also have charge of the Appleton Bank and the Frohna Bank. Mr. Ruff went to Appleton Friday to take charge and will make his headquarters there, he being authorized by the department to choose where he wanted to maintain his office to attend to the affairs of the three institutions and he chose Appleton. H. L. Klaus, former cashier of the bank who assisted Tomlinson during the past four months, has left to accept a position