20664. Farmers State Bank (Jasper, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 1, 1929*
Location
Jasper, Tennessee (35.074, -85.626)

Metadata

Model
gpt-5-mini
Short Digest
08d8d45e

Response Measures

None

Description

Articles report the Farmers State Bank of Jasper was suspended in October (1929) and a liquidating agent/receiver was appointed by the state superintendent of banks; later (Feb 1930) the cashier was arrested for embezzlement during liquidation. No article describes a depositor run or reopening, so this is a suspension leading to permanent closure/receivership. OCR minor fixes (e.g., 'emberzlement' -> embezzlement).

Events (3)
1. October 1, 1929* Suspension
Cause
Government Action
Cause Details
State superintendent of banks suspended the institution and appointed a receiver/liquidating agent.
Newspaper Excerpt
B. Lasater has his position liquidating agent for the Farmers State bank, which suspended here October. He was appointed to the position by H. L. Grigsby, superintendent of banks and receiver of the Farmers State bank.
Source
newspapers
2. October 29, 1929 Receivership
Newspaper Excerpt
Jasper, Oct. 29.-(Special.) B. Lasater has his position liquidating agent for the Farmers State bank ... He was appointed to the position by H. L. Grigsby, superintendent of banks and receiver of the Farmers State bank.
Source
newspapers
3. February 12, 1930 Other
Newspaper Excerpt
A. L. Roberson, cashier of the defunct Farmers State bank of Jasper Monday afternoon, charges him with embezzlement... Liquidation is still in progress... none of the depositors have received anything on their accounts.
Source
newspapers

Newspaper Articles (2)
1. October 29, 1929 The Chattanooga News Chattanooga, TN
Article from The Chattanooga News, October 29, 1929

Click image to open full size in new tab

Article Text

J. M. Barker to Liquidate Harmless as the recipe on the wrapper; mild and bland as it Jasper Bank's Affairs tastes. But its gentle action Jasper, Oct. 29.-(Special.) B. Lasa- soothes a youngster more surely ter has his position liquidating than some powerful medicine agent for the Farmers State bank, which that is meant for the stronger suspended here October He was appointed to the position by H. L. Grigsby systems of adults. of Nashville, superintendent of banks and That's the beauty of this special receiver of the Farmers State bank. Mr. Grigsby, it said, has appointed children's remedy! It may be Barker of South Pittsburg to succeed Mr. given the tiniest infant-as often Lasater as liquidating agent, and be took as there is any need. In cases of over the affair of the bank Monday. Mr. Barker for years leading of colic, diarrhea, or similar disturbSouth Pittsburg. having store near Richance, it is invaluable. But it has

2. February 12, 1930 The Chattanooga News Chattanooga, TN
Article from The Chattanooga News, February 12, 1930

Click image to open full size in new tab

Article Text

BANK CASHIER FACES CHARGES A. L: Roberson Held for Fraud In Connection With Failure of Jasper Institution. capias issued against A. L. Roberson, cashier of the defunct Farmers State bank of Jasper Monday afternoon, charges him with emberzlement. It was served by T. E. Coppinger, sheriff of pay It was thought for long while that the amount due the bank from him and members of his family, totaling a large sum, would be repaid in the course of the liquidation, but becoming impatient over apparent delay in 80 doing and also being unable to learn if payments were being made in the matter owing to the absolute secrecy observed in the settlement of the affairs of the bank by the receiver, a commit tee of five business men appointed by the depositors, and known as the depositors' committee. determined to act in the matter and secured Whitaker & Whitaker and C. H. Neighbors, Chattanooga lawyer, to investigate the case and raised money sufficient to retainer. The smashing of the bank consumed the savings of years for a large number of depositors. Blame is attached. in large measure, to the state banking department, which apparently allowed the directors of the bank to loan themselves large amounts of money. with the result that there was deficiency in cash of 8411, according to the statement of the bank receiver, as well as a deficiency in notes of about Liquidation is still in progress, and 80 far none of the depositors have received anything on their accounts The collection on small notes has been good 80 it has been said. The expense of the liquidation is very high, and it saems It will take several years to complete it.