Farmers State Bank - Verona, OH

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 29, 1930
Location: Verona, Ohio (39.903, -84.486)

Metadata

Model: gpt-5-mini
Short Digest: 43a01324

Response Measures

Full suspension

Other: State banking department took the bank over for liquidation; liquidating deputy placed in charge.

Description

Article (The Daily Times, 1930-08-29) reports heavy withdrawals that depleted cash reserve; state banking department closed the bank and placed a liquidating deputy in charge. No specific rumor or external cause is given in the text, so cause is classified as 'other.'

Events (3)

1. August 29, 1930 Receivership

Newspaper Excerpt: D. J. Schurr, liquidating deputy from the banking department, was placed in charge.
Source: newspapers

2. August 29, 1930 Run

Cause Details: Heavy withdrawals/depletion of cash reserve; article does not specify a triggering rumor or external event.
Measures: Bank officials appealed to the state banking department for assistance.
Newspaper Excerpt: Heavy withdrawals which depleted the cash reserve, caused bank officials to appeal to the state.
Source: newspapers

3. August 29, 1930 Suspension

Cause: Government Action
Cause Details: Closed by the state banking department and taken over for liquidation after heavy withdrawals depleted cash reserve.
Newspaper Excerpt: The Farmers State Bank at Verona, Preble county, was closed by the state banking department today
Source: newspapers

Newspaper Articles (1)

1. August 29, 1930 The Daily Times New Philadelphia, OH

Article from The Daily Times, August 29, 1930

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Article Text

HEAVY RUN CLOSES VERONA STATE BANK Columbus, O., Aug. 29 (UP)-The Farmers State Bank at Verona, Preble county, was closed by the state banking department today and taken over for liquidation. The bank was organized in 1923 with a capitalization of $50,000. It had resources of $304,082. Heavy withdrawals which depleted the cash reserve, caused bank officials to appeal to the state. D. J. Schurr. liquidating deputy from the banking department, was placed in charge. guage are not American. No one who knows the trend of our people could be for repeal. That is one reason why the wet patter has never interested me-there is nothing noble or durable behind. The 'me first' crowd don't disturb me in the least. Prohibition in the Constitution is notice that we are going to remove another disease from our country. and I expect to live to see the work fully accomplished."