11612. Bank of Asheville (Asheville, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 21, 1930
Location
Asheville, North Carolina (35.601, -82.554)

Metadata

Model
gpt-5-mini
Short Digest
1ed00ab0

Response Measures

None

Description

Contemporary reports (AP, Nov 21, 1930) list the Madisonville, KY bank among eleven institutions that failed to open for business/closed. The article attributes many closures in the region to failures of other (Louisville) banks; no explicit run on this specific bank is described and no reopening is reported, so this is classified as a suspension leading to closure. OCR typos in articles (e.g., Mad isonvillee) were corrected.

Events (1)
1. November 21, 1930 Suspension
Cause
Local Banks
Cause Details
Closures in the region (including Madisonville) were reported contemporaneously with failures of a group of Louisville banks and broader regional bank distress; article attributes many closings to other local bank failures.
Newspaper Excerpt
Banks at Paris, Tenn., at Doniphan and Edina, Mo.; at Crestwood, Louisville suburb, and Madisonville, Ky.: ... were the others to close.
Source
newspapers

Newspaper Articles (2)
1. November 21, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 21, 1930

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Article Text

MORE BANKING HOUSES CLOSED 11 More Institutions Fail to Meet Obligations to Depositors By the Associated Press. Eleven banks in five states of the south and lower middle west failed to open for business today. Banks in English, Leavenworth, Corydon and Corydon Junction, all small communities in southern Indiana, were taken over by the state banking department on the heels of the failure yesterday of two banks at New Albany, Ind., across the Ohio river from Louisville. Banks at Paris, Tenn., at Donippan and Edina, Mo.; at Crestwood, Louisville suburb, and Madisonville, Ky.: at Asheville, N. C.; and a Negro bank in Nashville, Tenn., were the others to close. Closing of the six Indiana banks was attributed to the recent failure of a group of Louisville banks. The closings in Kentucky today brought the number there to fifteen in a week, seven in Louisville and two in its suburbs. The Asheville closing was the ninth in North Carolina in two days. The Missouri closings were blamed to heavy withdrawals. Governor Horton of Tennessee pledged a "full and complete invesgation" of all state government departments as a result of state financial difficuties which followed the naming of a receivership for Caldwell & Company, investment bankers.

2. November 21, 1930 The Daily World Helena, AR
Article from The Daily World, November 21, 1930

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Article Text

ELEVEN MORE BANKS CLOSE THEIR DOORS INDIANA, TENNESSEE, MISSOURI AND NORTH CAROLINA STATES AFFECTED (By the Associated Press.) Eleven banks in five states of the South and lower Middle West failed to open for business today Banks in English. Leavenworth. Corydon and Coydon Junction, all small communities in southern Indiana, were taken over by the state banking department on the heels of the failure yesterday of two banks as New Albany. Ind. across the Ohio river from Louisville. Banks at Paris, Tenn., at Doniphan and Edina. Mo.: at Crestwood, Louisville suburb. and Mad isonvillee Ky.; at Asheville, N. C., and a negro bank in Nashville Tenn., were the others to elose. Closing of the six Indiana banks was attributed to the recent failure of a group of Louisville banks. The closings in Kentucky today brought the number there to fifteen in week, seven in Louisville and two in its suburbs. The Asheville closing was the ninth in North Carolina in two days. The Missouri closings were blamed to heavy wihdrawals. Governor Horton of Tennessee pledged a "full and complete investigation" of all state government departments as a result of state financial difficulties which folowed the naming of a receivership for Caldwell and Company. investment bankers. Paris, Tenn., Nov. AP) First State Bank and Trust Company did not open today. A posted note said affairs of the bank had been turned over to state bank examiners. The bank was capitalized at $100,000. Iits last report in July showed resources of more than $1,000,000. New York Nov. 21.-(AP)-E. A. St. John, president of the National Surety Co., said today after carefully checking their depository bonds on the recently suspended banks in Arkansas, North Carolina, Kenucky. Tennessee, Indiana, Illinois and Missouri, their net losses thereunder will not exceed $50,000.