17487. Farmers Bank (Saluda, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 15, 1931
Location
Saluda, South Carolina (34.002, -81.772)

Metadata

Model
gpt-5-mini
Short Digest
80deb44aa444ed42

Response Measures

None

Description

Articles report Farmers Bank of Saluda closed on October 15, 1931 and was in liquidation under a receiver (Saluda County Bank). No run is mentioned. Final dividend paid in April 1934 (total paid to depositors 50%). Classified as a suspension leading to permanent closure/receivership.

Events (3)
1. October 15, 1931 Receivership
Newspaper Excerpt
Saluda county bank, receiver for the Farmers Bank of Saluda, which closed its doors on October 15, 1931, announced today final dividend ... Acting for the Saluda County bank as receiver, S. R. F Addy cashier of the Farmers bank when it closed, has been in immediate charge of liquidating the defunct bank's affairs ...
Source
newspapers
2. October 15, 1931 Suspension
Cause Details
Bank closed and suspended operations on Oct. 15, 1931; article gives no specific trigger (insolvency implied but not detailed).
Newspaper Excerpt
which closed its doors on October 15, 1931
Source
newspapers
3. April 2, 1934 Other
Newspaper Excerpt
final dividend of 25 per cent. The dividend checks will be dated April 2, and will be ready for delivery April 10. This final dividend payment will be 25 per cent of the original amount on deposit, and will bring the total amount paid to depositors by the bank to 50 per cent.
Source
newspapers

Newspaper Articles (2)
1. March 30, 1934 The Columbia Record Columbia, SC
Article from The Columbia Record, March 30, 1934

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Article Text

BANK IN SALUDA PAYS ITS FINAL DIVIDEND (Special The Record) SALUDA, March 30.-The Saluda county bank, receiver for the Farmers Bank of Saluda, which closed its doors on October 15, 1931, announced today final dividend of 25 per cent. The dividend checks will be dated April 2, and will be ready for delivery April 10. This final dividend payment will be 25 per cent of the original amount on deposit, and will bring the total amount paid to depositors by the bank to 50 per cent. Acting for the Saluda County bank as receiver. S. R. F Addy cashier of the Farmers bank when it closed, has been in immediate charge of liquidating the defunct bank's affairs under the direction of Wheeler, president and other officials of the Saluda County bank. Payment of the final dividend of 25 per cent by the Farmers bank will put quite sum of money into circulation in Saluda, and it is expected that trade and other business activity in the town will be considerably enlivened by the re-

2. April 1, 1934 The State Columbia, SC
Article from The State, April 1, 1934

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Article Text

SALUDA DEPOSITORS WILL GET DIVIDENDS Special to The State. March Saluda receiver the Farmers county bank closed, announce dividend will and will ready This final payment cent. the bank per Revival Ends Today. Special George, March 7:30 Cornell, revival that has George period four special feature meeting the choir, under the direction Rodgers, singfrom Methodist and Baptist choirs the occasion. puppy was born airplane flying the English channel recently.