Farmers & Merchants State Bank

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: May 6, 1931
Location: Yoakum, Texas (29.288, -97.152)

Metadata

Model: gpt-5-mini
Short Digest: 916694b0

Response Measures

Full suspension

Other: Directors closed the bank and planned to organize a new bank to assume obligations.

Description

Article (Victoria Advocate, 1931-05-08) reports a three-day run that caused directors to close the bank on May 8, 1931; directors said they hope to organize a new bank in the next few days to assume obligations, implying a suspension with planned reopening/reorganization.

Events (2)

1. May 6, 1931 Run

Cause Details: Three-day wave of heavy withdrawals (article does not specify a triggering rumor or bank-specific insolvency).
Measures: Directors closed the bank's doors to protect depositors; statement authorized to organize a new bank to assume obligations.
Newspaper Excerpt: The Farmers & Merchants State Bank was closed at noon today by the directors following threeday run on the surplus cash on hand.
Source: newspapers

2. May 8, 1931 Suspension

Cause Details: Directors closed the bank following sustained heavy withdrawals to protect depositors; planned organization of a new bank to assume obligations was announced.
Newspaper Excerpt: The Farmers & Merchants State Bank was closed at noon today by the directors following threeday run on the surplus cash on hand.
Source: newspapers

Newspaper Articles (1)

1. May 8, 1931 Victoria Advocate Victoria, TX

Article from Victoria Advocate, May 8, 1931

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Article Text

CLOSES AFTER RUN AND NEW BANK IS TO OPEN (Yoakum Herald) The Farmers & Merchants State Bank was closed at noon today by the directors following threeday run on the surplus cash on hand. Shortly after the bank was closed the directors authorized the statement that they hope to organize new bank within the next few days on the basis of the new bank assuming all obligations of the closed bank. The directors stated that three-day run on the bank caused them to close the doors in order to protect the depositors. The bank was organized in 1917 and had grown and prospered ing the past thirteen years, standing the drouths and hard times accompanying them. The nett. W. A. Carnes and E. Mertz.