Farmers Bank - Loris, SC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 17, 1932
Location: Loris, South Carolina (34.056, -78.890)

Metadata

Model: gpt-5-mini
Short Digest: 7e6600ae

Response Measures

None

Description

The article (Mar 17, 1932) lists the Bank of Nichols among five banks that have recently reopened. The piece does not describe a depositor run; it implies prior closure and state department involvement in other nearby bank closures. I classify this as a suspension followed by reopening. Exact suspension date not given in the text.

Events (2)

1. March 17, 1932 Reopening

Newspaper Excerpt: Besides the two new banks five other banks have reopened recently. the Planters Saving bank of Greer, Bank Bank of Nichols, Bank of Williston and the Farmers Bank or Loris
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Previously closed and taken into custody/oversight during the widespread banking disturbances; article implies state banking department involvement in related closures.
Newspaper Excerpt: Besides the two new banks five other banks have reopened recently. the Planters Saving bank of Greer, Bank Bank of Nichols, Bank of Williston...
Source: newspapers

Newspaper Articles (1)

1. March 17, 1932 The Index-Journal Greenwood, SC

Article from The Index-Journal, March 17, 1932

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Article Text

Five Have Been Reopened And Two New Ones OrganState Marking the seventh ment of banking facilities in Carolina within weeks' new bank at Marion Monday stock of $50,000, it was Albert state according to the Columbia State. The new Marion bank will be appointed receiver of the Parmers and Merchants bank which closed its Marion headquarters and Latta and Centenary branches last November 24, Mr. Fant explained. Another new bank, the Bank of Barnwell, capitalized at $25,000 and headed by c. Fuller and Edgar A. Brown. received $30,000 in deposits within two hours after it opened Monday, Mr. Fant added. Besides the two new banks five other banks have reopened recently. the Planters Saving bank of Greer, Bank Bank of Nichols, Bank of Williston and the Farmers Bank or Loris "The Farmers and Merchants bank of Marion and the Latta and Centenary branches have been in the hands of the state banking department since November 24," Mr. Depositors resolution meeting December 17 to defer the election ing and at that meeting and unsecured creditors unanimously agreed that the new bank act as receiver. "Officials of the new bank plan to apply for its charter not later Friday of this week. Fant added. "and when the charter has been issued it will immediately qualify as receiver and take charge of the arfairs of the Farmers and Merchants bank with my approval." Fifty thousand dollars for capital stock has already been subscribed and collected, Mr. Fant said. Stockholders of the bank will elect board of directors and bank officials at a meeting today. They will also select a name for the institution.