Bank of West - West, MS

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: April 1, 1931*
Location: West, Mississippi (33.197, -89.777)

Metadata

Model: gpt-5-mini
Short Digest: 969bc44d

Response Measures

None

Description

Article (1961) recounts an event 30 years earlier (circa 1931) when the Bank of West had suspended business in conjunction with a suspension at Lexington and later re-opened with deposits and an agreement to freeze deposits arranged with the state banking department. No explicit run is described.

Events (2)

1. April 1, 1931* Suspension

Cause: Local Banks
Cause Details: Suspended in connection with the suspension of the local Lexington bank; identified with that institution (contagion from local bank suspension).
Newspaper Excerpt: The bank at West had formerly suspended business when the bank at Lexington had suspended, as it is identified with the local institution.
Source: newspapers

2. April 20, 1931 Reopening

Newspaper Excerpt: Bank of West re-opened for business with deposits totaling over $5,000 during the bank's first hour. Plans were completed by the state banking departments with the customers in agreement of freezing deposits, similar to the arrangements made by ... Lexington. THIRTY YEARS AGO $5,000 DEPOSITED DURING OPENING HOUR Holmes County began returning to its former financial standing in banking circles when the Bank of West re-opened for business with deposits totaling over $5,000 during the bank's first hour. Plans were completed by the state banking departments with the customers in agreement of freezing deposits, similar to the arrangements made by the Commercial State Bank in Goodman and the Merchants and Farmers Bank and Trust Company of Lexington. The bank at West had formerly suspended business when the bank at Lexington had suspended, as it is identified with the local institution.
Source: newspapers

Newspaper Articles (1)

1. April 20, 1961 The Lexington Advertiser Lexington, MS

Article from The Lexington Advertiser, April 20, 1961

Click image to open full size in new tab

Article Text

THIRTY YEARS AGO $5,000 DEPOSITED DURING OPENING HOUR Holmes County began returning to its former financial standing in banking circles when the Bank of West re-opened for business with deposits totaling over $5,000 during the bank's first hour. Plans were completed by the state banking departments with the customers in agreement of "ireezing" deposits, similar to the arrangements made by the Commercial State Bank in Goodman and the Merchants and Farmers Bank and Trust Company of Lexington. The bank at West had formerly suspended business when the bank at Lexington had suspended, as it is identified with the local institution.