3916. Buhl State Bank (Buhl, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 31, 1932
Location
Buhl, Idaho (42.599, -114.759)

Metadata

Model
gpt-5-mini
Short Digest
e4fe778f

Response Measures

None

Description

The Buhl State Bank closed its doors Aug 31, 1932 as part of the collapse/closure of the First National Bank of Idaho system. Articles describe a county-wide moratorium limiting withdrawals and note the banks were turned over to officials, indicating a suspension that became a closure/receivership rather than a mere temporary run-related stoppage.

Events (3)

1. August 31, 1932 Suspension
Cause
Local Banks
Cause Details
Closure was occasioned by the closing of the First National Bank of Idaho, with which Buhl State was affiliated; subsidiaries closed in connection with the parent's failure or suspension.
Newspaper Excerpt
the failure the Buhl State Bank to keep its doors open after this morning... The First National Bank of Idaho at Boise and nine subsidiary banks in central and western Idaho and Eastern Oregon ... closed their doors yesterday. One of them, the Buhl State Bank, is located in Twin Falls county.
Source
newspapers
2. September 1, 1932 Other
Newspaper Excerpt
All banks of Twin Falls county including those here and at Buhl, Filer and Kimberly today announced a moratorium restricting withdrawal of funds ... to a maximum of five per cent per month of yesterday's balances. The purpose was declared to be the restriction of hoarding and the protection of all depositors.
Source
newspapers
3. September 30, 1932 Other
Newspaper Excerpt
The First National Bank of Idaho and nine subsidiary banks in Central and Western Idaho and Eastern Oregon closed Aug. 31, and were turned over to National and State Bank officials.
Source
newspapers

Newspaper Articles (4)

Article from The Times-News, August 31, 1932

Click image to open full size in new tab

Article Text

CITIZENS OF DAMAGE VOICE CONFIDENCE Meeting Held in West City; Declare no Cause for Alarm Business men, citizens of Buhl and farmers met at the city hall at Buhl this morning far the purpose of talking over the situation created by the failure the Buhl State Bank to keep its doors open after this morning. The unanimous opinion of the entire body was that there was no occasion for alarm and that business should proceed as usual. While nothing definite could be learned from the officials of the Buhl State Bank it is generally understood by people in the know that there was no reason whatever for closing the bank. The closing of the First NationBank of Boise, which the Buhl State is an affiliate, only in that directors of the two banks are the same, occassioned the closing of the Buhl State Bank but for such time only as necessary Iron out the difficulties of the Boise Bank, so far as could be learned from reliable sources at Buhl. While it is not known just what difficulties the Boise bank had definitely known that those difficulties will have no bearing on the Buhl state bank as the two banks art entirely separate. It is the general opinion of leading men and farmers in and about Buhl that there has been no bank failure and it will question of but short time before will have been ironed out. In the meantime the remaining bank. the Farmers National, is prepared to take care of the local needs in every way, both of their own customers and those who have their funds temporarily tied up in the Buhl State. Buhl has prided itself in the stability of its two banks and there has been no reason to date to change that attitude. Both Mr Barker of the Buhl State and Mr. Hamilton of the Farmer's National bank have been frequently criticised for their failure to make many loans but their attitude has been thoroughly vindicated and much credit is being given to these individuals for safeguarding the depositors' money. Weather Forecasts Promise Rising Temperatures in Local District minimum temperature Tuesday night which in some places dropped freezing and was accompanied by frost, little damage to field crops was caused throughout this survey Wednesday morning revealed. In exposed spots gardens were nipped. some eusumber and melon vines were turned brown. some slight damage to bean foliage noted. few seattered fields, particularly around Eden and Hazelton, were hard hit, and was reported bean yields would be reduced in some In the Burley section it was reported that the frost was slight, with very little damage. The county agent's office at Jerome had no reports of frostdamaged field crops, while at Rupent was reported to be confined to garden vines. Reports from various points in Twin Falls county indicated bean foliage frosted somewhat in some sections. tbut not severely enough to reduce the yield. Tomato and garden plants were hit in some sections. however. An end to the unseasonable low which have threatened crops of South Central Idaho during the past three days was prophesied by the official weather report Wednesday, with rising forecast for Wednesday night and Thursday Official report from the bureau of entomology recorded Tuesday night's minimum temperature here 32.5 degrees.


Article from Baker City Herald, September 1, 1932

Click image to open full size in new tab

Article Text

BANKS PUT LIMIT ON WITHDRAWALS Twin Falls County, Ida. Institutions Restrict Depositors All banks of Twin Falls county including those here and at Buhl, Filer and Kimberly today announced a moratorium restricting withdrawal of funds except for ordinary business and living expenses. to a maximum of five per cent per month of yesterday's balances. The purpose was declared to be the restriction of hoarding and the protection of all depositors. Coupled with the announcement. was an expression of endorsement by various business houses, organizations and individuals. The First National Bank of Idaho at Boise and nine subsidiary banks in central and western Idaho and Eastern Oregon with total resour ces of $12,753,063. closed their doors yesterday. One of them. the Buhl State Bank, is located in Twin Falls county.


Article from Pasadena Star-News, September 2, 1932

Click image to open full size in new tab

Article Text

IDAHO COUNTY BANKS RESTRICT WITHDRAWAL Five Per Cent Per Month Is Set Maximum Obtainable TWIN FALLS. Idaho. Sept. banks of Twin Falls County, including those here and at Buhl. Filer and Kimberly. today had announced moratorium restricting withdrawal of funds except for dinary business and living penses, to maximum of cent month of yesterday's balances. The purpose was declared to the restriction of hoarding and the protection all depositors. Coupled with the was an pression of indorsement by various business houses, organizations and individuals. The First National Bank of Idaho. Boise, and nine subsidiary banks central and western Idaho eastern Oregon with total resources $12,753,063. closed their doors yesterday. One of them, the Buhl State Bank, is located in Twin Falls County


Article from The Producers News, September 30, 1932

Click image to open full size in new tab

Article Text

LARGEST BANK IN IDAHO, 9 BRANCHES GOES BANKRUPTED The First National Bank of Idaho and nine subsidiary banks in Central and Western Idaho and Eastern Oregon closed Aug. 31, and were turned over to National and State Bank officials. The total resources of the banks were $12,753,063 on the date of the last call, June 30. The First National Bank of Ida: ho was the largest single institution of its kind in the state. It was the second bank to suspend business in Boise within a month, the City National Bank having having failed to open Aug. 1. The First Security Bank of Boise is the only bank remaining in the city. The banks closed under the First National system, with their resources follow: First National Bank of Idaho, Rupert State Bank, $429,014. Buhl State Bank, $613,293. Meridian State Bank, $176,108. Nampa State Bank, $753,377. Bank of Emmett, $364,165. Weiser State Bank, $856,883. Ontario National Bank, Ontario, Oregon, $956,433. Vale National Bank, Vale, Oreg. $280,656.