21923. Farmers Bank (Wakefield, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 21, 1931
Location
Wakefield, Virginia (36.970, -76.988)

Metadata

Model
gpt-5-mini
Short Digest
3a9324ca

Response Measures

None

Description

Articles report Farmers Bank of Wakefield closed its doors April 21, 1931 and a receiver was named by the state corporation commission shortly after (reports dated Apr 22–23, 1931). No explicit run is described; closure appears due to losses/shrinkage wiping out capital and undivided profits.

Events (2)

1. April 21, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Losses and shrinkage believed to have wiped out capital and undivided profits (about $20,000).
Newspaper Excerpt
named receivers for the Farmers Bank of Wakefield, Sussex county, which closed its doors April 21.
Source
newspapers
2. April 22, 1931 Receivership
Newspaper Excerpt
BANK RECEIVER NAMED ... receiver the Farmers Bank Wakefield in Sussex granted today by the state corporation commission. petition recited that loss and shrinkage ... wiped out the ... undivided profits and its $20,000
Source
newspapers

Newspaper Articles (2)

Article from The News and Advance, April 23, 1931

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Article Text

French Liner Being Combed Search By 125 United States Customs Men Follow Off" On Dope Liquor Also Object Of Ship Exploration Officials Of Company Aid; Other Searches To Follow In Case Of Waterhaul New York, April 22 (AP)-The Ile flagship of the French being to today 125 men been that bringing big stock of liquor narcotics. The vessel was convoyed by two trol when she The convoy met her at Sandy Hook and stayed alongside make nothing irregular occurred when neared her She Saturday, by which time officials said tip that cases and of in French line The France the first since the grapevine was received. was explained that other vessels will searched nothing is found aboard her. Customs men are prosecuting dill- are another yesterday various parts the crews' but any the ship coming country OHIO RIFLEMEN WIN Columbus, April 22 State University's rifle today was declared national collegiate victory in the annual sored by William Ohio 940 points possible The was points, and Iowa third BANK RECEIVER NAMED April and banking. to name receiver the Farmers Bank Wakefield in Sussex granted today by the state corporation mission. petition recited that loss and shrinkage of were lieved to wiped out the and undivided profits and its $20,000


Article from The Roanoke Times, April 25, 1931

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Article Text

named receivers for the Farmers Bank of Wakefield, Sussex county, which closed its doors April 21.