18401. First State Bank (Idalou, TX)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 30, 1929
Location
Idalou, Texas (33.666, -101.683)

Metadata

Model
gpt-5-mini
Short Digest
6d874896ea7cd897

Response Measures

None

Description

Newspaper reports (Jan 31, 1929) state the First State Bank of Idalou failed to open after a run by depositors; the State Banking Department took over affairs (government takeover/receiver). No reopening mentioned — treated as suspension leading to closure/receivership.

Events (3)
1. January 30, 1929 Receivership
Newspaper Excerpt
Representatives of the State Banking department took over affairs of the First State Bank of Idalou today following failure of the bank to open for business Wednesday.
Source
newspapers
2. January 30, 1929 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors made heavy withdrawals -- described as a run by depositors that precipitated the bank's failure to open.
Newspaper Excerpt
J. W. Turner, president of the bank, attributed the closure to a run by depositors.
Source
newspapers
3. January 30, 1929 Suspension
Cause
Government Action
Cause Details
State Banking Department took over affairs after the bank failed to open for business.
Newspaper Excerpt
Representatives of the State Banking department took over affairs of the First State Bank of Idalou today following failure of the bank to open for business Wednesday.
Source
newspapers

Newspaper Articles (2)
1. January 31, 1929 The Amarillo Globe-Times Amarillo, TX
Article from The Amarillo Globe-Times, January 31, 1929

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Article Text

IDALOU BANK FAILS TO OPEN FOR BUSINESS sentatives of the State Banking department took over affairs of the First State Bank of Idalou tuilay, fol. lowing failure of the bank to open for business Wednesday. J. W. Turner. president of the bank, attributed the closure to a run by The bank was organized in 1920 and had capital stock of $35,000. deposits of $186,000 and loans of $115,000, ac. cording to the last statement.

2. January 31, 1929 The Marshall News Messenger Marshall, TX
Article from The Marshall News Messenger, January 31, 1929

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Article Text

IDALOU STATE BANK CLOSES ITS DOORS Representatives of the State Banking department took over af fairs of the First State Bank of Idalou today following failure of the bank to open for business WedJ. W. Turner, president of the bank, attributed the closure to a run by depositors. The bank was organized in 1920 and had capital stock of $35,000, deposits of $186,000 and loans of 15,000, according to the last