10542. Portageville Bank (Portageville, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 29, 1930
Location
Portageville, Missouri (36.425, -89.700)

Metadata

Model
gpt-5-mini
Short Digest
45b6392c

Response Measures

Full suspension, Books examined

Other: Placed in hands of State Finance Department / State Bank Examiner for adjustment.

Description

Multiple contemporaneous newspaper articles (Dec 1 and Dec 5, 1930) report heavy withdrawals/a run that led the bank's directors to close the bank and place it in the hands of the State Bank Examiner. Papers mention the bank was turned over to state finance/examiners (i.e., placed in receivership). One article says the bank 'will probably be able to reopen', but there is no confirmed reopening in these articles; therefore classified as run → suspension → closure.

Events (3)
1. November 29, 1930 Run
Cause Details
Heavy withdrawals / onrush of depositors (a depositor run) depleted the bank's funds
Measures
Directors closed the bank and placed affairs in hands of State Bank Examiner C. V. Estes.
Newspaper Excerpt
was closed by its directors last Saturday morning to business when the onrush of depositors during the week had almost drawn out the deposit resource of the bank
Source
newspapers
2. November 29, 1930 Suspension
Cause Details
Closure/suspension by directors in response to heavy withdrawals/run by depositors
Newspaper Excerpt
was closed by its directors last Saturday morning ... and it was then placed in the hands of State Bank Examiner C. V. Estes
Source
newspapers
3. December 1, 1930 Receivership
Newspaper Excerpt
were closed Saturday and placed in hands of the State Finance department ... closed with deposits of $161,888 ... placed in the hands of State Bank Examiner C. V. Estes, who ... has worked on the adjustment of the institution
Source
newspapers

Newspaper Articles (3)
1. December 1, 1930 Paragould Soliphone Paragould, AR
Article from Paragould Soliphone, December 1, 1930

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Article Text

Two Southeast Missouri Banks Close Their Doors Poplar Dec southeast Missouri banks were closed Saturday and placed in hands of the State Finance department They were the new East Prairie bank East Prairie and the Portageville bank Portageville. The former bank had $145,244 deposits and the latter Public funds on deposit the two banks totaled about No reason for closing was given.

2. December 1, 1930 The Asheville Times Asheville, NC
Article from The Asheville Times, December 1, 1930

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Article Text

THREE BANKS CLOSE DOORS IN MISSOURI turn over the affairs to state bank examiners The Portageville bank, of New Madrid county. closed with deposits of $161,888 and the New East Prairie bank-of East MisJEFFERSON CITY. Mo., Dec. 1sissippi county. closed with deposits of directors. The bank had loans of (UP)-Two state banks reported to of $201 606, capital stock of surthe finance department today they The Knox County Savings bank of had closed their doors and wished to plus 398 of $10,000 and deposits of $276,Edina was closed Friday by its board

3. December 5, 1930 Portageville Southeast Missourian Portageville, MO
Article from Portageville Southeast Missourian, December 5, 1930

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Article Text

The Portageville Bank Closed by Depositors' Heavy "Run" The Portageville Bank-old est of the two banks in the city -was closed by its directors last Saturday morning to business when the onrush of depositors during the week had almost drawn out the deposit resource of the bank and it was then placed in the hands of State Bank Examiner C. V. Estes, who, up to this day has werked on the adjustment of the institution, the closing of which created wide-spread surprise among the patrons and general public. The bank had *224,340 loans; $161,886 deposits; *60,000 bills payable; $20,000 capital stock: $30,000 surplus. Public funds on deposit amounted to $51,519. The officers of the bank are Alphonse DeLisle, president; Jonah DeLisle, vice-president; Arthur W. Fields, cashier: Mary Emma Delisle and Wayne DeLisle, assistant cashiers. We have it from reliable in formation that the bank will probably be able to reopen. The Bloomfield and Puxico banks closed.