Sullivan County Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 12, 1930
Location: Milan, Missouri (40.202, -93.125)

Metadata

Model: gpt-5-mini
Short Digest: 64e5a6ae

Response Measures

None

Description

Board of directors closed the bank and turned it over to the state finance department; no run reported. Article cites slow loans and frozen assets as probable cause.

Events (2)

1. May 12, 1930 Receivership

Newspaper Excerpt: turned over to the state finance department, it was announced by S. L. Cantley, finance commissioner.
Source: newspapers

2. May 12, 1930 Suspension

Cause: Government Action
Cause Details: Board closed the bank and turned it over to the state finance department; cited probable underlying causes were slow loans and frozen assets
Newspaper Excerpt: The Sullivan County Bank, at Milan, was closed today by its board of directors and turned over to the state finance department
Source: newspapers

Newspaper Articles (1)

1. May 12, 1930 Carthage Evening Press Carthage, MO

Article from Carthage Evening Press, May 12, 1930

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Article Text

MILAN, MO., BANK IS CLOSED TODAY 'Br The Associated Press) Jefferson City, May The Sullivan County Bank, at Milan, was closed today by its board of directors and turned over to the state finance department, it was announced by S. L. Cantley, finance commissioner. The bank had $220,800 total resources. No reason for the closing was given, but Cantley said slow loans and frozen assets probably were the cause.