17566. Farmers Savings & Trust Company (Mansfield, OH)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
November 1, 1931*
Location
Mansfield, Ohio (40.758, -82.515)

Metadata

Model
gpt-5-mini
Short Digest
9d4f17e7

Response Measures

Full suspension, Books examined

Other: Taken over by state banking department; liquidation and later partial payouts to depositors; reopened in 1932.

Description

Contemporaneous articles report steady withdrawals and the state banking department taking the bank over in early November 1931. Subsequent items (Apr–Jul 1932) refer to liquidation proceedings and payments to depositors, indicating the bank did not resume normal operation and entered receivership/liquidation. A later article (Nov 1932) lists it among reopened banks, but the April 1932 superintendent-in-charge liquidation filing and payoff activity support permanent closure/receivership. I therefore classify as run → suspension → closure (receivership).

Events (4)
1. November 1, 1931* Run
Cause
Bank Specific Adverse Info
Cause Details
Steady withdrawals by depositors (panic/nervousness about the specific bank) led to loss of funds.
Measures
None reported prior to takeover; withdrawals prompted closure and state takeover.
Newspaper Excerpt
Two Ohio banks closed last week, the Farmers' Savings and Trust Co. at Mansfield, O.... The reason given for the closing of both banks was steady withdrawals by depositors.
Source
newspapers
2. November 4, 1931 Suspension
Cause
Government Action
Cause Details
State banking department took over the institution after heavy withdrawals; bank did not open and affairs were turned over to the department.
Newspaper Excerpt
In Mansfield, Ohio. Columbus, Nov. state banking department today taken over the Farmers Savings and Trust company
Source
newspapers
3. April 15, 1932 Receivership
Newspaper Excerpt
Ira Fulton, superintendent of banks in charge the liquidation of the Farmers Savings Trust Co., today asked pleas court to declare null and void ... in the interests the creditors be protected. (liquidation in charge of superintendent of banks).
Source
newspapers
4. July 14, 1932 Other
Newspaper Excerpt
The Farmers Savings Bank & Trust Co., will pay another 10 percent, amounting to $150,000, to depositors tomorrow. (partial dividend/payment to depositors).
Source
newspapers

Newspaper Articles (6)
1. November 4, 1931 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, November 4, 1931

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Article Text

BANK KY., OF ONE AT SIZEONE IN INDIANA. Ky., Nov. rectors of the with of nearly bank, resources 500,000, voted not to open and turned its affairs the state banking department. Heavy forced the The withdrawals the Citizens institution took over here eighteen months ago. bank published statement showThe ed deposits of One Rossville. Nov. Union State Bank of Rossville, did not open its Clinton doors Luther state banking nounced. The institution was italized $25,000. Total resources the bank were The president given institution Beyler and the cashier, Odrian Smith In Mansfield, Ohio. Columbus, Nov. state banking department today taken over the nounced Farmers Savings and Trust comof for pany The bank had stock on Sep$282,500 and resources of $2,973,770.

2. November 13, 1931 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, November 13, 1931

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Article Text

Mansfield and Dayton Banks in Big Crash CLEVELAND, O.-Two Ohio banks closed last week, the Farmers' Savings and Trust Co. at Mansfield, O. and the Union Trust Company at Dayton. The reason given for the closing of both banks was steady withdrawals by depositors. The Dayton bank was one of the largest in the city. Its reported resources on September 29 amounted to over $3,000,000.

3. April 15, 1932 News Journal Mansfield, OH
Article from News Journal, April 15, 1932

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Article Text

REALTY TRANSFER ATTACKED IN SUIT Of Conveyance Pact Dissolution Asked In Court Ira Fulton, superintendent of banks in charge the liquidation of of the Farmers Savings Trust Co., today asked pleas court to declare null and void by Frank M. Neff to his wife, Minnie Neff. of estate levied on by the plaintiff satisfaction of judgment for secured of alleged in that defendant, Mr. Neff. has transferred the real estate to his he judgment awarded The plaintiff, represented by Attor General Gilbert and Prosecuting Attorney Kalbasks the interests the creditors be protected.

4. June 14, 1932 The Times Recorder Zanesville, OH
Article from The Times Recorder, June 14, 1932

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Article Text

Seek Men Who Robbed Seville Bank SEVILLE June Ohio tonight who today walked gunmen the Seville State bank, tied the cashier and about They month third picked up the The both and wearing overalls, entered shortly and president the them Looting they disappeared was lost near The Sheriff Bufup by Medina north Seville. ON TRIALS YOUNGSTOWN tax ments today the Mahoning county judges and decide will held before 1933 The pected to the county $15,000. KILLED BY TRAIN Hugh Bates, councilBaltimore & the prominent in state Ma. sonic TO REOPEN BANK MANSFIELD June Reopening the Farmers closed resume

5. July 15, 1932 The Public Ledger Maysville, KY
Article from The Public Ledger, July 15, 1932

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Article Text

She's Nicest Dog! So Doctors Operate New York, July 13-Little Lucy Graux, just 11 years old, walked into a hospital for the rupture and crippled carrying in her arms a little white puppy-dog. "This is Trixie," she told Dr. Edward Barnett, "and her leg is broken, and the dog-doctor said he would have to kill her; but I didn't want him to kill her because she is the nicest dog in the world, and so I brought her to your hospital." Dr. Barnett called in three other doctors. This was no simple case. It called for consultation, X-rays were made. The doctors pondered. Finally they placed Trixie on the operating table, put her to sleep with hypodermic, carefully reduced the fracture and put the leg in cast. Lucy Graux, beaming. and with a frightened but convalescing Trixie in her arms, looked up at the four doctors. "Thank you very much," she said "I was very sorry to bother you, but Trixie just couldn't die, because she is the nicest dog in the world." The doctors bowed. "You are entirely welcome," they smiled back. The hospital cashier cast a startled look at the doctors, shrugged his shoulders and tore up the bill. Mansfield, O., July 14-The Farmers Savings Bank & Trust Co., will pay another 10 percent, amounting to $150,000, to depositors tomorrow.

6. November 4, 1932 News Journal Mansfield, OH
Article from News Journal, November 4, 1932

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Article Text

'OFFICER 666' HARRY DOTSON To The News ASHLAND, Nov. 4-Harry Dotson and Miss June Hale of Mansfield have prominent parts in the farce, "Officer 666", which will be presented in McDowell auditorium here Saturday at 8 p.m. as the climax of the college's homecoming day program. Dotson is cast in the title role. ilized now both in Ohio and in other states. Many Already Reopened Among the banks reopened this year are several of unusual size, such as the Dollar Savings & Trust Co. and the City Trust & Savings bank, both of Youngstown; the George D. Harter bank, Canton; the Richland Trust Co. and the Farmers' Savings & Trust Co., both of Mansfield, and the City Savings Bank & Trust Co., Alliance. Other important institutions reopened included the Seville State bank, Seville; the Farmers' & Citizens' Banking Co., Monroeville; the Antwerp Exchange bank, Antwerp, and the Bank of Leipsic Co., Leipsic. Theodore H. Tangeman, state director of and member of Governor White's cabinet, has assisted Superintendent Fulton in working out the bank reopening plans which the state department has put into effect. A student of finance, he has been in position to render effective aid in the state's bank reorganization work. Charles G. Saffin Jr., attorneyexaminer in the department of banks, has been factor in all of the bank reopenings worked out by the department.