332. First National Bank (Gentry, AR)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
12340
Charter Number
12340
Start Date
December 11, 1930
Location
Gentry, Arkansas (36.268, -94.485)

Metadata

Model
gpt-5-mini
Short Digest
6533ee12f042bdf3

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health

Description

Local panic after nearby Bentonville banks closed; First National Bank (Gentry) brought cash from the Federal Reserve and posted guards but did not suspend operations or close. Precautionary measures were taken; no receivership or reopening event reported.

Events (3)

1. March 24, 1923 Chartered
Source
historical_nic
2. December 11, 1930 Run
Cause
Local Banks
Cause Details
Public uneasiness caused by numerous bank failures in the region and closure of banks at Bentonville prompted precautionary cash withdrawals/fear of withdrawals.
Measures
Brought sufficient cash from the Federal Reserve Bank to pay all depositors; posted special guards; later returned the cash to the Reserve; offered reward for arrest of persons circulating false rumors.
Newspaper Excerpt
On account of the frenzied condition of the public mind occasioned by the numerous bank failures and the fact that the banks at Bentonville closed, we thought that some of our customers might lose faith in us, SO we brought from the Federal Reserve Bank enough actual cash to pay every one of our depositors...
Source
newspapers
3. June 15, 1934 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Journal-Advance, December 11, 1930

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Article Text

Local Bank Prepared For An Emergency As feeling of uneasiness seemed to in quarters regarding the banks of the closing of the and banks last Saturday the the First National Bank Gentry took no chances on being caught napping "run" should occur here, and had sent from the Federal Reserve Bank sufficient funds to pay all depositors full should they demand dollars were hand bank Monbut the patrons as one the strongest banks the state, felt casiness but little money was fact the deposits topped the for two days. This is thing that this bank has always and ready depositor secure his entire at time desires, which the result of careful, conservative principles used in the conducting the business making depository for surplus funds the citizens of this section. During the time the large sum cash on hand special guards thwart possible loss by but "peaceful and quiet' along this line as the line. Not only the local bank for an emergency at this time, we understand banks Rogers, Springand other places, did likewise.


Article from The Journal-Advance, December 11, 1930

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Article Text

First National Market News TOLD YOU WE COULD ARKANSAS We have been telling you from time to time that we were SO operating our business that regardless of any emergency existing that we could pay all our depositors any time they should call on us. On account of the frenzied condition of the public mind occasioned by the numerous bank failures and the fact that the banks at Bentonville closed, we thought that some of our customers might lose faith in us, SO we brought from the Federal Reserve Bank enough actual cash to pay every one of our depositors except the few by business or connection we knew would not withfamily draw under any circumstances. We take considerable pride in this accomplishment, beat this time of unsettled business concause ditions this ought to prove beyond any doubt that we have kept the faith of our friends and depositors. We do not feel like asking our citizens and the employees of the bank their lives by keeping this large amount of money here any longer, SO by the time this is published the money will be back in the vaults of the Federal Reserve Bank. The money was covered by insurance while it was here, but the insurance would not the lives the guards should a gang of bandits have made raid. We have never kept but small amount a of money on hands in the bank and from now on that is going to be our policy regardless of any condition that may come. No matter how many disturbing things come up we are never going to bring large amount of money here like we did this time. If you have money on deposit in this bank and want withdraw it, you can let us know and we will have it shipped out from the Federal Reserve Bank. Of course, we will keep a small amount on hands to take care of normal business demands. In times of hysteria like this there are always some people who delight in spreading false reports. It is a penitentiary offense to circulate an untrue report of this kind, and. we will pay $1,000.00 in cash for the arrest; conviction and reasonable sentence of any person circulating a report on this bank. We have no fault to find with anyone that becomes disturbed when they hear false rumors, especially if they are newcomers, and, like we have said times before, if many any one is the least bit displeased or uneasy about our business relations, we prefer that they do business somewhere else. This bank has been careful and conserva- tive in good times just as in dull times, and we know how to run a safe bank, and we are going to continue to run a good bank here regardless of what comes up. We want to thank the many that assured us in person and the many more that sent us word that regardless of anything they had the fullest confidence in our integrity and ability. We also want to thank the men that stood guard, not for the pay they received but because of their loyalty and friendship, not overlooking the citizens that were ready to respond at a moment's notice to come to our defense. After all, the friendship and faith of the good people of this territory is the big thing in life and far above everything else. Bringing this money here has been considerable bother and expense, but the satisfaction of being able to do it, the offer of our friends, family, and the force, everyone offering to go the limit, makes one feel good. One friend that does not do business here of fered to bring $35,000.00 of his personal money should we need it. While it was not needed, the offer is appreciated just the same as if it had been used. am afraid the Market News is too long, but before quit, let me tell you that Marion K. gets through cutting teeth, if his dad has not paid you back for the kindness shown some time he will get to do MARION WASSON.