173. Bank of Louisville (Louisville, AL)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
December 17, 1930
Location
Louisville, Alabama (31.783, -85.556)

Metadata

Model
gpt-5-mini
Short Digest
289301d4

Response Measures

Full suspension, Books examined

Other: State banking department asked to aid; consolidation with Barbour County Bank noted.

Description

Newspapers (Dec 17–18, 1930) report heavy withdrawals (a run) and the directors decided to close the bank for a few days, asking the state banking department to assist; directors were optimistic and expected reopening. No later definitive confirmation of reopening in these clippings, but contemporaneous report states temporary closure 'for few days, probably re-opening for business Saturday.' Classified as run → suspension → reopening (most likely).

Events (2)
1. December 17, 1930 Run
Cause Details
Large withdrawals by depositors (panic/withdrawals reported as 'heavy withdrawals'); no specific triggering rumor or external failure identified in the articles.
Measures
Directors decided to close the institution for a few days; state banking department asked to aid officers and directors.
Newspaper Excerpt
The Bank of Louisville was closed on account of heavy withdrawals.
Source
newspapers
2. December 17, 1930 Suspension
Cause Details
Bank was closed by directors in response to heavy withdrawals; state superintendent later announced the closing of the bank at Louisville, Ala., citing heavy withdrawals (state charter institution).
Newspaper Excerpt
the board of directors of the bank of Louisville yesterday decided to close the institution for few days, probably re-opening for business Saturday.
Source
newspapers

Newspaper Articles (2)
1. December 17, 1930 Southern Star Newton, AL
Article from Southern Star, December 17, 1930

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Article Text

Action Today to Protect Its Depositors Eufaula, Dec. order to protect the interest of its depositors the board of directors of the bank of Louisville yesterday decided to close the institution for few days, probably re-opening for business Saturday. notice to this effect posted on the door this morning. The action was due to on the bank during the past few days, President Pierce told The Tribune over the phone this morning. Mr. Pierce said the state banking department had been askto aid the officers and directors the affairs of the The directors were session this mornand after going over affairs of the bank were very optimistic and stated that unquestionably would reopen for business and there would no loss to its patrons. The Bank of Louisville was consolidated with the Barbour County Bank few months ago and since that time has been the only finaninstitution in Louisville. It has capital of and deposits according to President Pierce. Pierce president of the bank and Flournoy, cashier.

2. December 18, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, December 18, 1930

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Article Text

SCHOOL LEVIES Two Close in Alabama. MONTGOMERY ALA. Dent F. Green. superintendent of state banks. Wednesday announced the closing of the Bank State Surveys Made Public By of Louisville at Louisville Ala Agnes Samuelson. state charter institution and the Sturdivant bank at Leedsville, Striking inequalities in the private bank operation and financial support Mr. Green said the Bank of of school districts in Iowa have Louisville was closed on account been brought out in a series of of heavy withdrawals. The bank school surveys under the direchad $40,000 capital stock and tion of Agnes Samuelson, state $12.000 surplus with deposits of superintendent of public instrue$82,245 on Nov. 20. tion, it was made known Wednes- Suspension in Illinois. SPRINGFIELD. ILL. (AP) Closing of the Union State bank of Brownfield. in Pope county was announced by the state auditor Wednesday The bank was capitalized at $15,000 and on the first of this year reported $49,589 out on loans and $43.151 on deposit