11038. Guaranty Bank & Trust Company (Kosciusko, MS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
October 7, 1932
Location
Kosciusko, Mississippi (33.058, -89.588)

Metadata

Model
gpt-5-mini
Short Digest
f117a6f1

Response Measures

None

Description

Newspaper listings from Oct 7, 1932, show Guaranty Bank & Trust Company in Kosciusko listed as (receiver), indicating it had suspended and been placed in receivership. No article text mentions a depositor run; the event is a suspension with receiver assigned.

Events (2)
1. October 7, 1932 Receivership
Newspaper Excerpt
Guaranty Bank and Trust Co. (receiver) $42,500.
Source
newspapers
2. October 7, 1932 Suspension
Cause
Government Action
Cause Details
Bank is listed as a receiver in RFC loan listings, indicating suspension/placement into receivership.
Newspaper Excerpt
Guaranty Bank & Trust Company (receiver) $42,500.
Source
newspapers

Newspaper Articles (2)
1. October 7, 1932 The Vicksburg Post Vicksburg, MS
Article from The Vicksburg Post, October 7, 1932

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Article Text

R. F. C. Loan Figures Are Made Public Continued from Page One) Gibbsland. First National Bank in Gibbaland $16,000 Houma. Bank of Terrebonne & Trust Company $200,000 Independence Bank & Trust Company $110.000 Janesboro, Jackson Parish Bank, Kaplan, Kaplan State Bank, Lake Providence Lake Providence Natehtoches Exchange Bank of Natchitoches, and Farmers Bank grepaid in full New Orleans. Interstate True Banking Company $178,375.50 Paincourty Bank of PaincourtPonchatoula Ponchatouia Bank & Trust Company $40.000. Saint Joseph. Bank of St. Joseph & Trust Company. $45,000 St. Martinville Bank of St Mar. unville. $11.000 Springhill Commercial Bank Trust Company $20,000 Mississippi Biloxi. Peoples Bank, $20,000 Booneville Bank of Booneville 315.40 Greenwood Greenwood Savings Bank (receiver) $140.000 Gulfport. First National Bank in Kosciusko. Guaranty Bank & Trust Company (receiver) $42.500. Kosciusko, Koscrusko Bank $47,Lauderdale Lauderdale State Meadville Bank of Franklin $17,379.85 Olive Branch, Bank of Olive Sallis Sallis Bank (receiver) Tunica Planters Bank $59.965 Tupelo. Citizens State Bank, $39,014.23 Building and Loan Associations Louisiana Minden. the Minden Building & Loan Association. $24,871. Insurance Companies: Louisiana: New Orleans, Union Indemnity Co., Mortgage Loan Companies: Louisiana Shreveport Abraham Lincoln Home Founding Co., Inc., $10,000.

2. October 7, 1932 Sun Herald Biloxi, MS
Article from Sun Herald, October 7, 1932

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Article Text

LOANS MADE COAST BANKS (Continued from first page) obtained a loan from the Reconstruetion Finance Corporation. "The publication of the July report of the Reconstruction Finance Corporation, during the month of August, did not have the bad effect upon the banks as predicted by the opponents of the provision. "This is shown by the greatly decreased number of bank suspensions that have occurred since the report was published. "During the month of July there were 131 suspensions. During the month of August 85 suspensions; and during the month of September 63 suspensions, XXX "All of the other objections raised in the brief as to the wisdom of policy of requiring public monthly report of the corporation's activities were presented to Congress by the corporation or other persons before the act was passed." The report itself showed that a considerable number of loans which were authorized during August were withdrawn or cancelled in full, including authorizations to 35 banks and trust companies aggregating $2,631,571. Bank and trust companies in Mississippi received loans as follows: Biloxi, Peoples Bank $20,000: Booneville, Bank of Booneville, $84,500 Clinton, Bank of Clinton $31,315.40 Greenwood, Greenwood Savings bank (receiver) $140,000. Gulfport, First Natonal Bank in Gulfport (receiver) $280,000; Kosciusko, Guaranty Bank and Trust Co. (receiver) $42,500; Kosciusko Bank $47,795.20; Lauderdale, Lauderdale State Bank $7,000: Meadville, Bank of Franklin $17,379.85 Olive Branch, Bank of Olive Branch. $30,000 Sallis, Sallis Bank (receiver) $43,500; Tunica, Planters Bank $59,965 Tupelo, Citizens State Bank $39,014.23. The Interstate Trust and Banking Co., of New Orleans received a loan of $178,275.25. INSURANCE COMPANIES Birmingham, Lincoln Reserve In surance Co., $66,200. New Orleans, Union Indemnity Co., $400,000.