Bank of Malden - Malden, MO

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: April 1, 1926*
Location: Malden, Missouri (36.557, -89.966)

Metadata

Model: gpt-5-mini
Short Digest: dec0258f

Response Measures

No run, Capital injected, Full suspension

Description

Article (Apr 13, 1926) describes an excited crowd and bank officers depositing about $1,000,000 to reassure depositors (a run-like episode). The bank had been placed in the hands of the Commissioner of Finance because of frozen loans (bank-specific adverse information), was reorganized, and scheduled to reopen April 18, 1926. Bank type not specified in text.

Events (3)

1. April 1, 1926* Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors alarmed amid frozen loans and distress at the bank leading to an excited crowd and large reassuring deposits by officers.
Measures: Bank president and colleagues deposited about $1,000,000 to reassure depositors; public reassurance for half an hour.
Newspaper Excerpt: President and some of his colleagues deposited about $1,000,000 in it, and then spent half an hour reassuring the excited crowd that their money was in no danger.
Source: newspapers

2. April 1, 1926* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Placed in hands of Commissioner of Finance on account of frozen loans (indicating impaired assets/solvency concerns).
Newspaper Excerpt: The Bank of Malden, Malden, Mo., recently placed in the hands of the Commissioner of Finance on account of frozen loans, has been reorganised.
Source: newspapers

3. April 18, 1926 Reopening

Newspaper Excerpt: The new bank has capital and surplus of $50,000 and will open for business Tuesday, April 18, 1926.
Source: newspapers

Newspaper Articles (1)

1. April 13, 1926 St. Louis Globe-Democrat St. Louis, MO

Article from St. Louis Globe-Democrat, April 13, 1926

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Article Text

President and some of his colleagues deposited about $1,000,000 in it, and then spent half an hour reassuring the excited crowd that their money was in no danger. BANK OF MALDEN REORGANIZES, OPENS The Bank of Malden, Malden. Mo., recently placed in the hands of the Commissioner of Finance on account of frozen loans, has been reorganised. Claude A. Eaton, a St. Louis banker, assisted in the reorganization. The new bank has capital and surplus of $50,000 and will open for business Tuesday. April 18, 1926.