Portland Bank - Portland, TN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 6, 1926
Location: Portland, Tennessee (36.582, -86.516)

Metadata

Model: gpt-5-mini
Short Digest: cab21b37

Response Measures

None

Description

Farmers Bank in Portland, TN remained closed temporarily (no reported depositor run) out of fear of a sympathetic run after the nearby Portland bank was taken over for liquidation. State agent conferred and plans were made to reopen the Farmers Bank the next day.

Events (2)

1. October 6, 1926 Suspension

Cause: Local Banks
Cause Details: Closed out of fear of a sympathetic run following the Portland bank being taken over for liquidation by the state banking department.
Newspaper Excerpt: the Farmers bank remained closed also through fear that the Portland bank's condition might cause sympathetic run on it.
Source: newspapers

2. October 7, 1926 Reopening

Newspaper Excerpt: Agent Griggsby, of the state banking was in conference with officials of both banks this and plans made to open the Farmers bank tomorrow.
Source: newspapers

Newspaper Articles (1)

1. October 6, 1926 The Knoxville Journal Knoxville, TN

Article from The Knoxville Journal, October 6, 1926

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Article Text

PORTLAND BANK IS IN HANDS OF STATE Portland bank. capitalized at $25,000 with $150,000 deposits, was taken over by the state banking department for liquidation today on request of officers of the bank. and the Farmers bank remained closed also through fear that the Portland bank's condition might cause sympathetic run on it. R. Moore, father the town, is president of both institutions. Agent Griggsby, of the state bank ing was in conference with officials of both banks this and plans made to open the Farmers bank tomorrow. Slow collections of notes and slack business conditions caused an accumulation of frozen paper that sapped the Portland bank's cash. according to Mr. Moore. The Farmers bank is perfectly sound. he said.