Farmers Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: May 29, 1928
Location: Wallace, North Carolina (34.736, -77.995)

Metadata

Model: gpt-5-mini
Short Digest: fe0973c4

Response Measures

None

Description

Article (Evening Star, 1928-05-30) states the Farmers' Bank & Trust Co. of Wallace 'voluntarily closed' and asked state bank examiners to take charge 'looking toward liquidation.' It explicitly says there was no run. Date inferred: closed 'yesterday' relative to May 30, 1928 => 1928-05-29. Classified as suspension leading to closure with receivership/liquidation.

Events (2)

1. May 29, 1928 Receivership

Newspaper Excerpt: State bank examiners had been asked to take charge looking toward liquidation.
Source: newspapers

2. May 29, 1928 Suspension

Cause: Voluntary Liquidation
Cause Details: Voluntarily closed due to inability to collect on slow paper; officials asked state bank examiners to take charge toward liquidation.
Newspaper Excerpt: The Farmers' Bank & Trust Co. of Wallace voluntarily closed yesterday as the result of inability to collect on slow paper. There was no run on the institution and no excitement accompanied the announcement of officials that State bank examiners had been asked to take charge looking toward liquidation.
Source: newspapers

Newspaper Articles (1)

1. May 30, 1928 Evening Star Washington, DC

Click image to open full size in new tab

Article Text

Bank Closes Voluntarily. WILMINGTON, N. C., May 30 (AP).Th: Farmers' Bank & Trust Co. of Wallace voluntarily closed yesterday as the result of inability to collect on slow paper. There was no run on the institution and no excitement accompanied the announcement of officials that State bank examiners had been asked to take charge looking toward liquidation.