Bank of New Hope - New Hope, AL

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: December 31, 1930
Location: New Hope, Alabama (34.538, -86.412)

Metadata

Model: gpt-5-mini
Short Digest: d1234114

Response Measures

Full suspension, Books examined

Other: Closed for insolvency due to frozen assets and heavy withdrawals; state banking department examined affairs.

Description

Article dateline Dec. 31 (published Jan 1, 1931) reports the Bank of New Hope had closed its doors because of frozen assets and steady withdrawals. This indicates withdrawals/runs precipitated a suspension and permanent closure/receiver action. Bank classified as a state bank (no 'National' or 'Trust' in name).

Events (3)

1. December 31, 1930 Other

Newspaper Excerpt: Butler, president of the bank, in his last statement reported $50,236. The listed surplus of Affairs of the bank been over by the state banking department, Mr. Green said.
Source: newspapers

2. December 31, 1930 Run

Cause: Bank Specific Adverse Info
Cause Details: Frozen assets (illiquid assets) led depositors to make steady withdrawals.
Measures: None reported beyond withdrawals; bank subsequently closed.
Newspaper Excerpt: had closed its doors. due to frozen assets and steady withdrawals.
Source: newspapers

3. December 31, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed by management/state after frozen assets and steady withdrawals rendered it unable to continue operations (closure reported Dec. 31).
Newspaper Excerpt: Bank of New Hope, in Madison county, had closed its doors.
Source: newspapers

Newspaper Articles (1)

1. January 1, 1931 Chattanooga Daily Times Chattanooga, TN

Article from Chattanooga Daily Times, January 1, 1931

Click image to open full size in new tab

Article Text

steady. Rio tos Bank of New Hope Closes. MONTGOMERY Ala., Dec. 31 Dent Green, state of banks, today that the Bank of New Hope, in Madison county, had closed its doors. due to "frozen assets and steady withdrawals." Butler. president of the bank. in his last statement reported $50,236. The listed surplus of Affairs of the bank been over by the state banking department, Mr. Green said. "Pigeon tossed from liner 100 miles If only they'd do that stool