Farmers Bank - Norfolk, VA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 16, 1857
Location: Norfolk, Virginia (36.847, -76.285)

Metadata

Model: gpt-5-mini
Short Digest: 46cfbc49

Response Measures

None

Description

The article (Oct 16, 1857) reports that the banks of Norfolk suspended by agreement; it names Exchange Bank of Virginia, Bank of Virginia, and Farmers' Bank of Virginia but does not explicitly mention a Bank of Norfolk. Because the provided bank name is not present in the text, I mark bank_name_unsure = true. The article describes a coordinated, likely temporary suspension (references Baltimore banks) with no mention of permanent closure or receivership, so I classify as a suspension with expected reopening. Cause selected as local_banks since the suspension was timed with/because of actions by other (Baltimore) banks.

Events (1)

1. October 16, 1857 Suspension

Cause: Local Banks
Cause Details: Coordinated suspension by agreement among Norfolk banks, taken shortly after/because Baltimore banks suspended; a contagious action prompted by other banks' suspensions.
Newspaper Excerpt: Suspension of the Banks in Norfolk. The Banks of this City all suspeniled by agreement to-day at noon.
Source: newspapers

Newspaper Articles (1)

1. October 16, 1857 The Day Book Norfolk, VA

Article from The Day Book, October 16, 1857

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Article Text

Suspension of the Banks in Norfolk. The Banks of this City all suspeniled by agreement to-day at noon. This measure appears to give general satisfaction to the trading community, and the only regret we have heard expressed is,that they did not suspend at the time the Baltimore Banks did so. Their names are Exchange Bank of Virginia, (parent,) Bank of Virginia, and Farmers' Bank of Virginia, (branches.) It is thought that this measure will afford instant relief to our oppressed merchants.