370. Farmers Bank (Hardy, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 2, 1930
Location
Hardy, Arkansas (36.316, -91.483)

Metadata

Model
gpt-5-mini
Short Digest
64b0b27b

Response Measures

None

Description

The Farmers Bank of Hardy suspended payments for a five-day period in early December 1930 and reopened later that month. Nearly a year later (Oct 23, 1931) the bank was closed and taken over for liquidation by the state banking authorities. No explicit run is described in the articles; the Dec. 1930 suspension appears to be part of a wave of bank suspensions (macro/systemic stresses). Final event is a government-enforced closure/receivership in Oct 1931.

Events (3)

1. December 2, 1930 Suspension
Cause
Macro News
Cause Details
Part of a wave of bank suspensions in Arkansas in early December 1930; precautionary five-day suspension under state law amid regional banking stress.
Newspaper Excerpt
HARDY Ark., Dec. Farmers bank tonight announced suspension of payments for the five-day period alby Arkansas law. President A. M. Metcalfe said he hoped to reopen.
Source
newspapers
2. December 9, 1930 Reopening
Newspaper Excerpt
Farmers Bank at Hardy, Sharp County, reopened for business morning, announced by Walter E. Taylor, state banking commissioners. Hardy Bank Re-opens The Farmers' Bank of Hardy re-opened Monday morning, as intended when it closed Tuesday of last week. ... The bank has passed its crisis and is now on safe footing. Bank Takes Vacation LITTLE ROCK, Ark, Dec. Walter Taylor announced today that the Farmers bank of Hardy had suspended business for five days, bringing the number of banks suspended the past two weeks to Fourteen of these have reopened under the same or new organizations, Taylor said. 22 ARKANSAS BANKS REOPENED Harrisburg and Hardy Institutions Resume Business. These make 22 banks that have reopened since ... Hardy Bank Re-opens The Farmers' Bank of Hardy re-opened Monday morning, as intended when it closed Tuesday of last week. We are informed that the capital stock has been increased, and that a number of stockholders have been added to the original organization The bank has passed its crisis and is now on safe footing. (Dec. 9-11, 1930 reporting.) (Signals reopening.)
Source
newspapers
3. October 23, 1931 Receivership
Newspaper Excerpt
Little Rock, Oct. 23.-(AP)-The Farmers State Bank at Rogers and the Farmers Bank at Hardy were closed today and taken over for liquidation by the state banking BANKS AT ROGERS AND HARDY ARE NOW CLOSED Little Rock, Oct. 23.-(AP)-The Farmers State Bank at Rogers and the Farmers Bank at Hardy were closed today and taken over for liquidation by the state banking (Oct. 23, 1931.) (Closure and liquidation by state banking authorities.)
Source
newspapers

Newspaper Articles (6)

Article from Chattanooga Daily Times, December 2, 1930

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Article Text

LIVE STOCK United States Department of Agriculture. CHICAGO, Dec. 000 to head, including direct; closed below weights shippers 10,000; estimated Light choice, 140 160 200 250 350 pounds, $8.00 Packing 500 pounds, slaughter good and choice, 100 130 pounds, $8.00 fed 25c to mostly 25c lower better generous proportion comprise selling downward 900 to 1,300 600 pounds, choice, 550 comcommon and Bulls yearlings good choice (beef), cutter to medium. (milk common, Sheep- head: killclasses mostly lower; some lamb sales off fat pounds down. and 150 pounds choice, feeding and to pounds, 500 head; active: steady close last Best others. $4.50 steady heavies nominally down 800 steady: 300 mostly hogs 300 pounds best lambs bid absent Butter, Eggs and Poultry. NEW YORK, receipts. 4,457 firmer higher than packing stock current make. No. 24@ No. Eggs. receipts. cases: steady mixed colored packed selected 45@46c medium refrigerator extra firsts, seconds 18@20c medium firsts, hennery do. extra nearby western hennery selected. 44@46c average 41@42c Patreated do extra firsts Poultry, steady: chickens. by freight. express. 19@26c freight. 19@20c: express. 19@26c turkeys. freight. by express, 30c; by 16@18c dressed chickens. fresh, western ducks, CHICAGO. -Butter. 31c; 30@31c; firsts, steady: extra fresh firsts, current refrigerator future refrigerator standards. January, Rice. NEW YORK. Rough Clean rice, receipts, 2.670 bags Bank Suspensions. NORWALK Conn., Dec. (A).-The Central Fairfield Trust company of this city was suspended by State Bank E. Shippee The bank is forbidden to pay out funds or receive deposits until a court hearing held. Christmas club checks to the amount of $30,000 which were to be received by depositors today have been held up. The bank's are the result heavy in commercial deposits. BLYTHEVILLE, Ark., Dec. The First National bank here did not open this morning and announcement was in posted that the bank had closed pending the Farmers Bank and Trust company Coincident with the announcement officers the two institutions went into session behind closed doors. The First National and the Farmers Bank Trust company are the only banking institutions in Blytheville. STEPHENS Dec. The Peoples bank here suspended today for a five-day period. Officials said the closing was for reorganization possible consolidation with the Bank of Stephens. for the proposed merger are in progress, it was announced. Illinois banks were closed today, two of them as an apparent outgrowth the failure week of the Benton First National bank, of Marion, and the State closed their doors, leaving both without banking facilities other banks that failed to open today in widely separated communities were the State bank, of Rock Grove, and the Marine bank, of Carthage HARDY Ark., Dec. Farmers bank tonight announced suspension of payments for the five-day period alby Arkansas law. President A. M. Metcalfe said he hoped to reopen. The bank here. is capitalized at statement showed deposits of $106,000


Article from Journal and Courier, December 3, 1930

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Article Text

Bank Takes Vacation LITTLE ROCK, Ark, Dec. Walter Taylor announced today that the Farmers bank of Hardy had suspended business for five days, bringing the number of banks suspended the past two weeks to Fourteen of these have reopened under the same or new organizations, Taylor said. A. 100-ton truck has been, put in use on British roads.


Article from The Commercial Appeal, December 9, 1930

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Article Text

22 ARKANSAS BANKS REOPENED Harrisburg and Hardy Institutions Resume Business. LITTLE ROCK Ark., Dec. Two banks, the Bank of Harris. burg at Harrisburg. Poinsett County, and Farmers Bank at Hardy, Sharp County, reopened for business morning, announced by Walter E. Taylor, state banking commissioners. These make 22 banks that have reopened since 17. County Bank Monticello and closed today for the by officials the The Bank of Harrisburg re. the was Taylor said Four the Peoples the Saline which by state, Bradley County Bank the Bank of Straw reopened five No Trust meeting today by resolution the pledged that The details have been Trieber member of the firm charge reorganizaM said prog. made in ing


Article from Sharp County Record, December 11, 1930

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Article Text

Hardy Bank Re-opens The Farmers' Bank of Hardy re-opened Monday morning, as intended when it closed Tuesday of last week. We are informed that the capital stock has been increased, and that a number of stockholders have been added to the original organization The bank has passed its crisis and is now on safe footing.


Article from The Daily World, October 23, 1931

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Article Text

BANKS AT ROGERS AND HARDY ARE NOW CLOSED Little Rock, Oct. 23.-(AP)-The Farmers State Bank at Rogers and the Farmers Bank at Hardy were closed today and taken over for liquidation by the state banking


Article from The Daily World, October 25, 1931

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Article Text

BANKS AT ROGERS AND HARDY ARE NOW CLOSED Little Rock, Oct. 23.-(AP)-The Farmers State Bank at Rogers and the Farmers Bank at Hardy were closed today and taken over for liquidation by the state banking