Bank of Fayette - Fayetteville, WV

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 26, 1931
Location: Fayetteville, West Virginia (38.053, -81.104)

Metadata

Model: gpt-5-mini
Short Digest: 9f167cc1

Response Measures

None

Description

Article (Evening Star, 1931-01-27) reports the Bank of Fayette failed to open Jan 26, 1931 and 'temporarily suspended business pending a reorganization' because of 'depleted cash reserve'. No mention of a depositor run or of a later reopening; classification as suspension_closure chosen due to lack of evidence of reopening (closure may be permanent though receiver not yet named).

Events (1)

1. January 26, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed to open due to depleted cash reserve; notice posted by assistant state banking commissioner.
Newspaper Excerpt: due to depleted cash reserve, this bank has temporarily suspended business pending a reorganization.
Source: newspapers

Newspaper Articles (1)

1. January 27, 1931 Evening Star Washington, DC

Article from Evening Star, January 27, 1931

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Article Text

BANK IS CLOSED FAYETTEVILLE. W. Va., January 27 (AP)-The Bank of Fayette of Fayetteville failed to open for business yesterday. A notice posted on the door signed by O. S. Summers, assistant State banking commissioner said "due to depleted cash reserve, this bank has temporarily suspended business pending a reorganization." At the last State bank call December 31 the bank reported resources of $247,373.85 and deposits of $156,910.18. It was capitalized at $25,000.