168. Chambers County Bank (Lafayette, AL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 29, 1930
Location
Lafayette, Alabama (32.900, -85.401)

Metadata

Model
gpt-5-mini
Short Digest
28024c0e

Response Measures

None

Description

Newspaper accounts (Dec 29-30, 1930) report Chambers County Bank, Lafayette, Ala., closed because of frozen assets and steady withdrawals and being taken by the state banking department for liquidation. No distinct separate run event is described; closure appears to be a state-initiated suspension leading to liquidation/receivership.

Events (2)
1. December 29, 1930 Receivership
Newspaper Excerpt
The bank being taken by the state banking for liquidation, Mr. Green said. Dent Green, state of banks today that the Chambers County Bank Lafayette, Ala., had closed because frozen assets and steady withdrawM. Tucker, of president the bank, reported capital stock of and surplus of $50,000, on its last report. Mr. Green said the total deposits the bank not available. The bank being taken by the state banking for liquidation, Mr. Green said. (AP report, Dec. 29-30, 1930).
Source
newspapers
2. December 29, 1930 Suspension
Cause
Government Action
Cause Details
State superintendent reported frozen assets and steady withdrawals; bank was taken by the state banking department for liquidation.
Newspaper Excerpt
the Chambers County Bank Lafayette, Ala., had closed because frozen assets and steady withdrawM. Tucker, of president the bank, reported capital stock of and surplus of $50,000, on its last report. Mr. Green said the total deposits the bank not available. The bank being taken by the state banking for liquidation, Mr. Green said.
Source
newspapers

Newspaper Articles (2)
1. December 29, 1930 Hattiesburg American Hattiesburg, MS
Article from Hattiesburg American, December 29, 1930

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Article Text

Other Institutions Temporarily; Merger at Associated Press) Dec. of two state banks was reported from the state banking Monday by Love, The institutions the Leake County Bank at Carthage and Bank Oxford, Oxford, both which were the oldest stitutions in their respective counties. forced decision to close the Leake County to while Bank of Oxford board decided "temporary" suspension prevailing conditions, declared in statement. Reports from Greenwood today announced reopening of the SecuriBank and Trust company, one institutions which suspended there week ago, and announced plans of officials of the Greenwood Bank and Trust company to resume January president Pitchford the Security Bank institution was doing business this with many deposits in and none going The bank reopened under plan of deposits as suggested by Supt. Love to mass meeting after the general closing. The Greenwood Bank and Trust is expected resume operation after similar plan is effected. Supt. Love reported strong bank today was the outgrowth of Picayune the Bank the Pearl River bank. Tate, president the former, will head the new institution, which will bear name Bank of PicaThe Leake County Bank had deposits $260,000, to the banking department. Capital was and surplus SECURITY BANK REOPENS Miss., Dec. The Security Bank and Trust company reopened for business here this morning. The bank had been closed since December when withdrawals. following the closing of the Wilson Banking company, caused its suspension. ARKANSAS BANK SUSPENDS ROCK, Dec. Van Buren County Bank at Clinton, suspended today five days, the state banking department announced. The president, Garner Frazer, told the he expectthe bank be within the five day period. had capital and surplus deposits of approximate$157,000. BANK CLOSED INDIANAPOLIS, Dec. Central Trust Savings Bank Gary, formerly the Southside Trust Savings Bank, closed today, the state banking commission informed. The bank was capitalizat $100,000 and had deposits with surplus and undivided profits of $25,000. BANK'S ASSETS FROZEN Ala., Dec. Dent Green, state of banks today that the Chambers County Bank Lafayette, Ala., had closed because frozen assets and steady withdrawM. Tucker, of president the bank, reported capital stock of and surplus of $50,000, on its last report. Mr. Green said the total deposits the bank not available. The bank being taken by the state banking for liquidation, Mr. Green said.

2. 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."