Security Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: November 25, 1925
Location: Helena, Arkansas (34.530, -90.592)

Metadata

Model: gpt-5-mini
Short Digest: 270c3186

Response Measures

None

Description

Article (Dec 23, 1925) states the Security Bank & Trust Co. is 'defunct' and that the bank 'suspended business' at the close of a banking day earlier; indictments for alleged irregularities of officers are reported. No run is described; the suspension appears permanent (bank called defunct and officers arrested). OCR in the date line is unclear ('on 25, last'); I record the suspension date as 1925-11-25 is uncertain, see note.

Events (2)

1. November 25, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged irregularities and financial mismanagement by officers/directors led to suspension; subsequent indictments returned by federal grand jury for violations of banking law were reported in connection with the bank's failure.
Newspaper Excerpt: The bank suspended business at the close of the banking day on 25, last.
Source: newspapers

2. December 22, 1925 Other

Newspaper Excerpt: Six men, former officers and directors of the defunct Security Bank & Trust Co., Helena, were arrested here late today on indictments charging violations of the United States banking law. They were released after making bond.
Source: newspapers

Newspaper Articles (1)

1. December 23, 1925 The Tennessean Nashville, TN

Article from The Tennessean, December 23, 1925

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Article Text

OFFICERS OF DEFUNCT BANK ARE ARRESTED Six Men Released After Making Seventeen Bonds. Helena, Ark., Dec. 22.-Six men, former officers and directors of the lefunct Security Bank & Trust Co., Helena, were arrested here late today on indictments charging violations of the United States bankIng law. They were released after making bond. The indicted men are: Joseph L. Solomon, Lafe Soloman, Louis Solomon, Philip Solomon, James W. Clopton, and H. Dade Moore. The indictments were based on alleged irregularities in connection with the security bank here last Joseph L. Solomon was vicepresident, Louis Solomon was eashler and the other four men were directors in the bank. The bank suspended business at the close of the banking day on 25, last. A total of 17 bonds were made by the six men. one for $5,000, and the others for $2,500 each. The indictments were returned two weeks ago federal grand jury at Batesville, Ark. Unconfirmed reports of the grand jury action have been in circulation for week, but authorities and the men concerned declined to comment on the rumors