389. Bradley County Bank (Hermitage, AR)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 1, 1930*
Location
Hermitage, Arkansas (33.447, -92.174)

Metadata

Model
gpt-5-mini
Short Digest
3c172188

Response Measures

None

Description

Articles (Nov 26 and Dec 6, 1930) list Bradley County Bank at Hermitage among banks that had suspended payments but were scheduled to reopen. No run or depositor panic is described. Suspension happened during a wave of Arkansas bank failures/suspensions in late November 1930; reopening reported Nov 26, 1930 (and again listed for reopening in early December).

Events (2)

1. November 1, 1930* Suspension
Cause
Macro News
Cause Details
Part of a wave of bank suspensions/poor banking conditions across Arkansas in late November 1930; no bank-specific scandal or rumor mentioned
Newspaper Excerpt
banks that suspended payments last week reported to the state Banking Department ... those reopening today ... the Bradley County bank at Hermitage
Source
newspapers
2. November 26, 1930 Reopening
Newspaper Excerpt
Other banks scheduled to reopen yesterday today were ... the Bradley County bank at Hermitage. (Paragould Soliphone, Nov. 26, 1930) / Bradley County bank at Hermitage listed among banks planning to reopen (Chattanooga Daily Times, Dec. 6, 1930).
Source
newspapers

Newspaper Articles (2)

Article from Paragould Soliphone, November 26, 1930

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Article Text

Three Additional for Business Open Reopening Institutions Are Bank of Ozan, Bank of McNeil and Bank Of Stamps Little Nov. additional banks that last today bring to ten the number reopenings among the closed suspended banks during past week. Those reopening today The Bank Ozan, the Bank and the Bank of Stamps. The Little Rock, Nov. banks that suspended payments last week reported to the state Banking Department yesterday and teight 10 more not officially reported to resume operation yesterday or today. General improvement in banking conditions throughout Arkansas was noted. despite the suspension three additional banks yesterday. They are Bank of Maynard Maynard, the Cross County bank Wynne the Bank Glenwood Glenwood, to total capital approximately $9,000. The Cross County bank, the largest the three, was capitalized $60,000. Its deposits of September 24 amounted $560,000. Deposits the Bank Glenwood were said be $168.000 and the Bank of Maynard $85,000. Banks reported by the Banking Department as yesterday included the Bank of Waldo and the Peoples bank Waldo. The Bank Manila, the State Monette and the Viola State bank Deposits amounting to $10,000 were made at the Bank Manila during the first hours of business yesterday morning. Depositors have signed time certificates agreeing to withdraw their funds installments at Intervals of nine, 12 and 15 months. Other banks scheduled to reopen yesterday today were the Grant County bank at Sheridan, the Bradley County bank at Hermitage, the Bank Harrisburg, Citizens bank Bald Knob, the Bank of McNeil, Columbia county. and the Bank of Ozan, Hempstead county. Steps toward reorganization of many closed last week being taken yesterday, additional openings probably will be ported during the week, officials the state Banking Department three small banks that yesterday make total that have stopped payments closed for liquidation the American Trust Company of Little Rock shut its week. majority the banks that have closed affiliated through Banks John chief bank examtner the state Banking Department, yesterday with an inventory collateral held by the Exchange Trust Company R. W. Rightsell, vice president the American Exchange Trust Company and manager the mortgage department announced that perowing interests or principal on notes held by the department are pected to make payments promptly They will receive notes coupons. Persons owning real estate notes held by the mortgage loan department receive payments when collections made. Mr. Rightsell said. The will look after collections, partment and taxes affecting loans carried when the bank suspended, but no loans will be made. MORGAN HONORED Oxford, England, Nov. Morgan received his degree Doctor of Civil Laws, the honor conferred England's oldest university


Article from Chattanooga Daily Times, December 6, 1930

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Article Text

FOUR ARKANSAS BANKS PLAN TO REOPEN MONDAY LITTLE ROCK, Ark., Dec. Reports state banking department today plans of banks recently closed for reopening tomorrow and Monday Those planning to reopen tomorrow are Benton company Benton, succeeding the Bank Trust company bank, McRae, and Bradley County bank at Hermitage