21193. 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
079f6afe

Response Measures

Full suspension

Other: State Banking Department took over affairs (government takeover/receiver).

Description

Articles (dated 1929-01-31) report the First State Bank of Idalou failed to open after a run by depositors; the State Banking Department took over the bank's affairs. No reopening is reported; closure appears permanent/administrative takeover.

Events (3)
1. January 30, 1929 Run
Cause Details
Heavy withdrawals/run by depositors blamed by bank president; no specific rumor or misinformation cited.
Newspaper Excerpt
J. W. Turner, president of the bank, attributed the closure to a run by depositors.
Source
newspapers
2. January 31, 1929 Suspension
Cause
Government Action
Cause Details
State Banking Department took over the bank after it 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.
Source
newspapers
3. * Other
Newspaper Excerpt
The bank was organized in 1920 and had capital stock of $35,000, deposits of $186,000 and loans of $115,000, according to the last statement.
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