First National Bank - Mountain Grove, MO

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 7282
Charter Number: 7282
Start Date: January 9, 1933
Location: Mountain Grove, Missouri (37.131, -92.263)

Metadata

Model: gpt-5-mini
Short Digest: cf5665d1

Response Measures

None

Description

Articles (dated Jan 9, 1933) report the First National Bank of Mountain Grove declared a 30-day moratorium (voluntary suspension) to avoid forcing collections and to make readjustments; both items state the bank would reopen. OCR errors in the text were corrected (e.g., moratorium and resource figures). No run or depositor panic is described.

Events (1)

1. January 9, 1933 Suspension

Cause Details: Bank voluntarily declared a 30-day moratorium to avoid forcing collections and to allow time for readjustments; endorsed by city council.
Newspaper Excerpt: the First National Bank of Mountain Grove this morning declared moratorium for 30 days in order that might not be necessary to force collections current loans...the moratorium would give the 30-day time to make readjustments and that the bank would reopen.
Source: newspapers

Newspaper Articles (2)

1. January 9, 1933 Jefferson City Post-Tribune Jefferson City, MO

Article from Jefferson City Post-Tribune, January 9, 1933

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Article Text

GROVE Mo., Jan. the the City the First National Bank Grove morning moratorium days order that might not to force collections loans. Prater, cashier. announced that the moratorium would time to make readjustments and that the bank would reopen. Barker president. The other bank Mountain Grove, the New Mountain Grove was reported in good condition Total resources the First tional, according the last lished October were with demand posits amounting time deposits $56,553.67 capital stock the bank

2. January 9, 1933 Daily American Republic Poplar Bluff, MO

Article from Daily American Republic, January 9, 1933

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Article Text

MORATORIUM FOR MOUNTAIN GROVE BANK IS DECLARED The Associated Press By Mountain Grove, Mo., Jan. the endorsement of the city council, the First National Bank of Mountain Grove this morning declared moratorium for 30 days in order that might not be necessary to force collections current loans. Prater, cashier, announced moratorium would that the 30-day time to make readjustments and that the bank would reopen. Barker president. The other bank Mountain Grove, the New Mountain Grove Bank, was in good condition this mornreported ing. Total resources of the First National, according to the last published statement October 13, were $243,678.18, with demand deposits amounting to and time deCapital stock of posits the bank $25,000.