Farmers State Bank - Brighton, CO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 30, 1930
Location: Brighton, Colorado (39.985, -104.821)

Metadata

Model: gpt-5-mini
Short Digest: 9ce6ecbb

Response Measures

None

Description

Article (Dec 30, 1930) reports Farmers State Bank of Brighton, Colo., was taken over by the state bank at the request of directors and closed because of frozen assets. Withdrawals had reduced deposits but the piece does not describe a discrete crowd/run event; the bank was closed/taken over and did not reopen in the article, so classified as a suspension leading to permanent closure. Date taken from newspaper publication date.

Events (1)

1. December 30, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closing caused by frozen assets (illiquid or unavailable assets) after withdrawals reduced deposits; bank was taken over by the state banking authority.
Newspaper Excerpt: Brighton, Colo., Bank Fails DENVE Dec. (AP) Farmers' State Bank of Brighton, Colo., was taken over today by the state bank the quest of directors. Grant McFerson, state bank said the closing was caused by frozen assets.
Source: newspapers

Newspaper Articles (1)

1. December 30, 1930 The Fresno Morning Republican Fresno, CA

Article from The Fresno Morning Republican, December 30, 1930

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Article Text

WITHDRAWALS, FROZEN ASSETS CLOSE BANKS INDIANAPOLIS Ind., Dec. Central Trust and Savings Bank of Gary, formerly the South Side Trust and Savings bank, was closed today. the state banking commission was informed The bank was capitalized at $100,000 and had deposits of $900.000 with surplus and undivided profits of $25,000. State Senator C. Oliver Holmes is president Recent disturbances in Gary banking circles was held responsible. It the seventh bank to close. 38th State Bank In Kansas Closes TOPEKA, Kas., Dec. The state banking department today announced the closing of the Farmers' State bank at Wheaton. Frozen was given as the reason. It was the state bank in Kansas to fail this year. The latest statement showed $123,225 deposits Two Banks Close, Another Reopens Closing of the Bank of Oxford at Oxford and the Leake County bank at Carthage and the reopening of the Security Bank and Trust company Greenwood were reported today by the state banking depart- Arkansas Bank Is LITTLE ROCK, Ark., Dec. (P)-The Van Buren County bank at Clinton suspended today for five days, the state banking department Frozen Assets Close Bank (4)-The People's Bank of Greensboro was closed today. Frozen as. sets was given the reason. Brighton, Colo., Bank Fails DENVE Dec. (AP) Farmers' State Bank of Brighton, Colo., was taken over today by the state bank the quest of directors. Grant McFerson, state bank said the closing was caused by frozen assets. The bank had deposits of $429,999 which were reduced to $370,000 by withdrawals. The cash and suramounted to $50,000. Withdrawals Close State Bank MONTGOMERY. Ala., Dec. (P)-Dent Green, state superintendent of banks, announced today the Chambers County bank at Lafayette, Ala., had closed because of "frozen assets and steady withdrawals."