Mercantile Bank & Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: November 24, 1930
Location: Dyersburg, Tennessee (36.035, -89.386)

Metadata

Model: gpt-5-mini
Short Digest: 7d453550

Response Measures

None

Description

Article (The Commercial Appeal, 1930-11-25) reports the Mercantile Bank & Trust Co. of Dyersburg closed/suspended on Nov. 24, 1930. The stated reason is slow liquidation of obligations and reluctance of correspondent institutions to extend further credit (correspondent-related suspension). The article says efforts will be made to reopen; reopening is not confirmed in this article, but intent to reopen is explicit. No bank run is described.

Events (1)

1. November 24, 1930 Suspension

Cause: Correspondent
Cause Details: Slow liquidation of the bank's obligations and correspondent institutions' reluctance to extend further credit, forcing suspension.
Newspaper Excerpt: Efforts will be made to reopen the Mercantile Bank & Trust Company of Dyersburg, which closed its doors here afternoon ... Slow liquidation of obligations to the bank and reluctance of correspondent Institutions to extend further credit made it necessary to suspend business.
Source: newspapers

Newspaper Articles (1)

1. November 25, 1930 The Commercial Appeal Memphis, TN

Article from The Commercial Appeal, November 25, 1930

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Article Text

SEEK TO REOPEN BANK. Efforts will Be Made At Dyers- Tenn. Nov. 24 Efforts will be made to reopen the Mercantile Bank & Trust Company of Dyersburg, which closed its doors here afternoon was learned from authorities to day. state bank examiner arrived here today to make an audit of the institution's affairs and D. D. Rob. ertson of Nashville, supervisor of the State Banking Department, is here Slow liquidation of obligations to the bank and reluctance of cor respondent Institutions to extend further credit made it necessary to suspend business, It is understood The bank was organized 23 years ago, was capitalized with reported at over $650,000 in the last financial statement last There been no heavy with drawals of deposits from the bank, although probably above normal Saturday