Farmers State Bank - Eldorado, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: August 1, 1927*
Location: Eldorado, Ohio (39.904, -84.676)

Metadata

Model: gpt-5-mini
Short Digest: 41d00c4d26e36950

Response Measures

None

Description

Article (Palladium-Item, 1927-10-24) reports Eldorado Farmers' State Bank had been closed nearly two months after discovery of about $100,000 in undesirable securities and the suicide of former president Carl Miller. Examiners said assets had been replaced and officials promised the bank would open in November. OCR errors in the article (e.g., missing words, garbled percentages) were corrected where obvious. No mention of a depositor run; this reads as a suspension due to adverse bank-specific information with planned reopening.

Events (2)

1. August 1, 1927* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed after discovery of about $100,000 in undesirable securities and the suicide of former president Carl Miller; state examiners intervened and assets were replaced.
Newspaper Excerpt: The bank been closed for nearly two months, the death of Carl Miller, former president, by suicide.
Source: newspapers

2. November 1, 1927* Reopening

Newspaper Excerpt: Promises that the bank would open on ... Nov. were made by officials.
Source: newspapers

Newspaper Articles (1)

1. October 24, 1927 Palladium-Item Richmond, IN

Article from Palladium-Item, October 24, 1927

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Article Text

SHEWMON NEW HEAD OF BANK ELDORADO ELDORADO, Ohio, Oct. Shewmon, local hardware and native of this place, Monday elected president of the Eldorado Farmers' State bank at meeting of Mr. Shewmon has been stockholder in the bank for number years was not member of the directorate. Other officers were being elected meeting held late Monday afternoon. The bank been closed for nearly two months, the death of Carl Miller, former president, by suicide. State bank examiners Monday said that all the $100,000, withdrawn assets of the bank following the discovery of that amount in undesirable security, had been replaced by sale stock, representing $60,000 representing percent donation depositors. Promises that the bank would open on fore Nov. were made by officials.