265. Benton Bank & Trust Company (Benton, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust
Start Date
November 17, 1930
Location
Benton, Arkansas (34.565, -92.587)

Metadata

Model
gpt-5-mini
Short Digest
ba7b7b304379101c

Response Measures

None

Description

The articles (Nov 17–18, 1930) report Benton Bank & Trust Company as one of many banks affiliated with A. B. Banks that 'suspended business temporarily' for five days to protect depositors amid panic following troubles at Caldwell & Company. No article describes a depositor run specific to Benton; the suspension was announced as temporary and to reopen after five days.

Events (2)
1. November 17, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Affiliation with A. B. Banks interests and panic following Caldwell & Company being placed in receivership; precautionary five-day suspension to protect depositors.
Newspaper Excerpt
Benton Bank and Trust Company, Benton: ... temporarily suspended business this morning; would reopen for business after five days.
Source
newspapers
2. November 22, 1930 Reopening
Newspaper Excerpt
Will open in Five Days After Precautionary Steps Taken. ... they would reopen for-business after five days.
Source
newspapers

Newspaper Articles (3)
1. November 17, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 17, 1930

Click image to open full size in new tab

Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for-business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state, Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed. according to statements made this morning. The following United Press dis patch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.The following banks in which A. B. Banks company is interested suspended business temporarily this morning: Bank of Altheimer. Altheimer; North Arkansas Bank, Batesville: Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton: Arkansas State Bank, Carlisle: Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora: Hampton State Bank, Hampton: Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Henlena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston Merchants and Planters Bank, Humphreys, First National Bank, Junction City: Merchants and Farmers Bank, Junction City: Cleveland County Bank; Kingsland, Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola: Bank of Pangburn, Pangburn; Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Victoria Bank, Strong: First State Bank, Thornton, Bank of Wabsseka, Wabaseka: Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott, Bank of Fordyce, Fordyce; Exchange Bank of Dermott. and Sheridan, clased at noon, due to heavy runs this morning.

2. November 17, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 17, 1930

Click image to open full size in new tab

Article Text

THIRTY ARKANSAS BANKS CLOSED 5 DAYS BY ORDERS (Continued From First Page) could have forced the closing of this strong bank." Soon after Caldwell & Company was placed in receivership, Mr. Banks anounced the Caldwell & Company's interest in the American Exchange Trust Company had been bought by Little Rock capitalists. The Pine Bluff bank was the second largest in the group and the Helena institution the third largest Banks was a director and a former president of the bank. The American Exchange Trust Company in Little Rock had deposits of approximately $15,000,000 OD September 24, the date of the last bank call. The Pine Bluff bank on September 24 had deposits of approximately $2,638,000 and the Helena bank at the close of business Saturday had deposits of $726,000. officials said. List of Institutions The banks in which Mr. Banks and assistants are interested and which suspended business today for five days were announced by the company as follows: The bank of Altheimer, Altheimer: North Arkansas Bank. Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton: Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa: Bank of Clarendon, Clarendon: Farmers Bank, Dardanelle: Hampton State Bank, Hamnton: Cleburne County Bank. Heber Springs: Merchants and Planters Bank, Helena; Bank of Houston, Houston: Merchants and Planters Bank, Hunphrey: Cleveland County Bank. Kingsland; Chicot Trust Company, Lake Village: AmericanExchange Trust Company, Little Rock: First State Bank, Morrilton: Arkansas Trust Company, Newport: Bank of Pangburn. Pangburn: Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Bank of Star City, Star City: Victoria Bank, Strong: First State Bank. Stuttgart: Citizens Bank Thornton. and Bank of Wabbaseka Wabbaseka; The Arkansas Bank and Trust Co., Hope: Peoples Bank McRea: and the Endora Bank and Trust Co., Endora. The following banks affiliated with the A. B. Banks and Company remained open for business, the company announced: The Bank of Fordyce and the First National Bank, Fordyce; Bank of Harrisburg, Harrisburg: First National Bank, Mineral Springs: Bank of Stephens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at Junction City to merge the first National Bank and the Merchants and Farmers Bank. and open one of them today, officials said.

3. November 18, 1930 Paragould Daily Press Paragould, AR
Article from Paragould Daily Press, November 18, 1930

Click image to open full size in new tab

Article Text

BANK SITUATION OVER THE STATE MORE FAVORABLE Continued From Page One) Clearing House Association including banks in Little Rock and North Little Rock, are excellent condition statement issued last night by officers of the association said. Bank in Greater Little Rock have large cash resource the and the total bills are less than $200 "They are ready and able to take care 01 the banking and credit need the conof the in the sound financial of Arkansas also was excondition Senator Joe Robinson and Gov Parnell Robinson attributed the Senator closing in the to wave of hysteria that followed in the wake financial dif 111 which Caldwell & vestment of became involved information leads me to believe the mind of depositors that connections with Caldwell & had impaired its assets 01 the 43 bank that closed yesterday banks not with the A Banks but majority them were in group institutions In must their have resulted from on deposi The banks included the Bank of at Branch: State bank of Fouke and the Peoples Trust Company which were taken by State Banking Commission Grant County bank Sheridan: Peoples bank. McRae Izard County bank. Guion: Peoples State bank DeValls Bluff the Exchange Bank and Trust Company Dermott and the Arkansas National bank at Heber Springs, which suspended payments for The Merchants & Planters bank at Humphrey affiliated with A B Banks was taken over by the State Banking Commission State banks suspending for fiveday period affiliated with A B Banks were Merchants and Planters bank Pine Bluff American Exchange Trust Company. Little Rock: First State bank Morrilton: First State bank Stuitgart: Benton Bank Trust Co., Benton: Bank of Bauxite Bauxite Cleburne County bank. Heber Springs North Arkansas bank Batesville: Arkansas State bank Carlisle: Arkansas Trust Company Newport Arkunsas Bank and Trust Company. Hope Merchants and Planters bank Helena; Eudora Bank & Trust Co. Eudora: Chicot Trust Company Lake Village Bank of Clarendon Clarendon: Bank of Altheimer Altheimer: Cleveland County bank. Kingsland: Bank of Houston. Houston: Hampton State bank Hampton: First State bank Osceola Bank of Carthage. Carthage Perry State bank Perry Victoria bank Strong Parmers Bank Casa: Leola State bank Loola Merchant and Planters bank Junction City Farmers bank, Darand Citizens bank Thornton and the Bank of Pordyce Pordyce list of the 43 banks that closed vesterday their deposits and capital follows ing Americ an Exchange Trust Company Little Rock State Bank of Fouke depo. $14 579 capital capital People bank deposit $96 capital Bank of deposits capital $25,000 North Arkansas bank Bateaville de have Bank of Bauxite deposits 436 of capital Benton Bank and Trust Company posits cipital 000 Bank of Carthage able Parmer bank deposits 248 capital $10,000 Bank of Clarendon deposits or capital capital $50,000 Endora Bank and Trust Company deposits Hampton $194,318.02 capital 000 State deposits 231 capital Cleburne County bank deposits and bank deposits 000 Bank $99 and Company Hope 49 capital Houston deposits capital Planters bank Hum phrey capital Cleveland bank Company bank Trust Company Newport capital State bank capital $50,000 of Perry State bank deposits People Bank and Trust deposits State Bank $10,000 County