2344. Farmers Bank (Bronwood, GA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
February 24, 1922
Location
Bronwood, Georgia (31.831, -84.364)

Metadata

Model
gpt-5-mini
Short Digest
f732ef1498d11628

Response Measures

None

Description

The bank suspended in Feb 1922 after failing to pay certificates of deposit (unable to realize on assets). By Aug 1922 arrangements were being made to reopen the Farmers Bank. No explicit bank run is described in the articles.

Events (2)
1. February 24, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to realize on assets and therefore could not pay certificates of deposit due Feb 24; placed in hands of state banking department.
Newspaper Excerpt
When the first installment of these certificates became due and were presented for payment the bank was unable to meet them. The result was that it was forced to once more suspend business.
Source
newspapers
2. August 29, 1922 Reopening
Newspaper Excerpt
Messrs. Downs and Jacob, representing the Bankers Trust and Audit Co., have been in Bronwood several days arranging to reopen the Farmers Bank ... the doors of the bank will be reopened for business in a few days. (Aug. 29, 1922 article reporting plans to reopen.)
Source
newspapers

Newspaper Articles (2)
1. February 28, 1922 The Dawson News Dawson, GA
Article from The Dawson News, February 28, 1922

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Article Text

BRONWOOD BANK HAS AGAIN CLOSED DOORS UNABLE TO PAY CERTIFICATES GIVEN DEPOSITORS SEVERAL MONTHS AGO. The Farmers Bank, of Bronwood, which was reopened several months ago after being closed several weeks, closed its doors again Friday, and is once more in the hands of the state banking department. When the bank reopened certificates of deposit amounting to $38,000, one-half due February 24th and the remainder due in May, were issued to the depositors, and when the first installment of these certificates became due and were presented for payment the bank was unable to meet them. The result was that it was forced to once more suspend business.

2. August 29, 1922 The Dawson News Dawson, GA
Article from The Dawson News, August 29, 1922

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Article Text

BRONWOOD SOON TO HAVE ANOTHER BANK ARRANGEMENTS BEING MADE TO REOPEN ONE THAT CLOSED SOME TIME AGO. Bronwood, one of Terrell county's properous towns, will soon have two banks for the accommodation of the business interests there. Messrs. Downs and Jacob, representing the Bankers Trust and Audit Co., have been in Bronwood several days arranging to reopen the Farmers Bank, which was forced to suspend some months ago because of inability to realize on its assets. It is understood that these gentlemen have about completed their plans, and that the doors of the bank will be reopened for business in a few days. Recently a branch of the Georgia State Bank was opened in Bronwood, and has been doing a splendid business. This is one of the Witham chain of banks.