Bank of White House - White House, TN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1920*
Location: White House, Tennessee (35.914, -87.606)

Metadata

Model: gpt-5-mini
Short Digest: b55f539aa3a5db7f

Response Measures

None

Description

Article (The Covington Leader, 1921-01-06) reports a temporary suspension of the Bank of Whitehouse during 1920; it was placed in the hands of the state superintendent, quickly reorganized, and has resumed business. OCR shows Whitehouse in the text; bank name given as 'Bank of White House' in prompt. No precise suspension date provided beyond occurring between Feb 26 and Nov 15, 1920. Cause cited as over‑loaning (adverse bank‑specific information).

Events (1)

1. January 1, 1920* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had over‑loaned (excessive lending) leading to temporary suspension and placement in hands of state superintendent.
Newspaper Excerpt: The nearest approach to a failure in the state last year was the temporary suspension of busines of the Bank of Whitehouse. The bank was placed in the hands of the state superintendent, was quickly reorganized and is now doing business as ever. The bank's trouble was in having overloaned.
Source: newspapers

Newspaper Articles (1)

1. January 6, 1921 The Covington Leader Covington, TN

Article from The Covington Leader, January 6, 1921

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Article Text

NO BANK FAILURES IN TENNESSEE LAST YEAR No bank failures occurred in Tennessee during the year 1920, according to S. S. McConnell, superinten dent of the state banking department, although all reports have not been received. Mr. McConnell says that few states in the Union have passed the year without one or more bank failures. Tennessee shows up well in this report of 460 banks just issued by the state banking department, showing the condition at the close of business Monday, November 15, 1920. During the period between February 26, 1920, and November 15, 1920, 28 banks increased their capital stock from a combined total of $1,529,500 to $2,875,000, represents ing an increase of $1,345,500. In addition to this 22 new banks were organized with a combined capital stock of $980,500, SO that during that period the new capital put into banking institutions of the state totaled $2,326,000. The nearest approach to a failure in the state last year was the temporary suspension of busines of the Bank of Whitehouse. The bank was placed in the hands of the state superintendent, was quickly reorganized and is now doing business as ever. The bank's trouble was in having overloaned.