2792. 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
beb795b5

Response Measures

None

Description

The bank suspended in late February 1922 after being unable to pay certificates of deposit and realizing on assets; by August 1922 arrangements were underway to reopen the Farmers Bank. No run is mentioned in the articles; suspension appears caused by adverse bank-specific asset/solvency problems.

Events (2)
1. February 24, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to meet certificates of deposit due Feb. 24 and unable to realize on assets; state banking department took control.
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.
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.