17229. Farmers Bank (Chappells, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 9, 1931
Location
Chappells, South Carolina (34.180, -81.867)

Metadata

Model
gpt-5-mini
Short Digest
dbdbfe909de6726a

Response Measures

None

Description

Articles (Jan 9–10, 1931) state Farmers Bank of Chappells began voluntary liquidation with approval of the state banking department; stockholders voted and depositors were asked to withdraw funds. No run is described; closure is voluntary and permanent (liquidation).

Events (1)
1. January 9, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Stockholders voted to begin voluntary liquidation with state banking department approval and asked depositors to withdraw funds; depositors to be paid in full; bank capital $15,000 with deposits $50,597.36.
Newspaper Excerpt
The Farmers bank, of Chappells, today began voluntary liquidation with the approval of the state banking department. Following meeting of stockholders yesterday was issued requesting depositors to draw out their money.
Source
newspapers

Newspaper Articles (2)
1. January 10, 1931 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, January 10, 1931

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Article Text

SOUTH CAROLINA BANK BEGINS LIQUIDATION The Farmers Bank of Chappells today began voluntary liquidation with the approval of the state banking department. Following a meeting of stockholders yesterday an announcement was issued requesting depositors to draw out Bendix their money. Every depositor and creditor will be paid in full without delay, the anBloomingd The bank, capitalized said. at $15,000, has Bohn deposits of $50,597.36. ARKANSAS BANK CLOSES AS ANOTHER REOPENS LITTL ROCK. Ark., Jan. -(AP) One bank which suspended five days ago reopened and another closed State Bank Commissioner Walter E. Taylor The Washington State bank at opened with the same officers and directors. The First National bank. of Holly Grove, in Monroe county, turned its affairs over to the national bank exThe First National at Holly Grove had capital and surplus $32,500 deposits about $75.according to T. M. Dearing, as sistant cashier. BANK IS TURNED OVER TO EXAMINERS ROGERS. Ark., Jan. board directors of the First National bank. whose president, Edwin Jackson, committed suicide Decem- Caterpil ber 29. decided at meeting today the Cavan bank could not meet the requirements of national bank for opening and was turned over the comptroller of the currency for liquidation. Mr. Jackson was found dead in his home with a bullet wound in the head. TROY. NORTH CAROLINA, BANK CLOSES DOORS TROY N. C., Jan 9. The the only financial institution in Troy, closed its doors notice said the action was taken for protection depositors The bank was capitalized at $60,000.

2. January 10, 1931 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, January 10, 1931

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Article Text

Bank Suspensions. LITTLE ROCK, Ark., Jan. 9 (AP).One bank which suspended five days ago reopened and another closed today, State Bank Commissioner Walter E. Taylor The Washington State bank at Washington, Hempstead county. reopened with the same officers and directors. The First National bank, of Holly Grove, in Monroe county. turned its fairs over to the national bank examThe First National at Holly Grove had capital surplus $32,500 and deposits of about $75,000. according to D. M. Deering, assistant cashier. CHAPPELLS, S. C., Jan. 9 (P).-The Farmers bank, of Chappells, today began voluntary liquidation with the approval of the state banking department. Following meeting of stockholders yesterday was issued requesting depositors to draw out their money. "Every depositor and creditor will be paid in full without delay," the anThe bank capitalized at $15,000, has deposits of $50,597.36.