Farmers & Merchants Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 13, 1925
Location: Rexburg, Idaho (43.826, -111.790)

Metadata

Model: gpt-5-mini
Short Digest: fc8151bb

Response Measures

Full suspension, Books examined

Other: Bank closed after heavy withdrawals; state bank examiner placed in charge.

Description

Article (Salt Lake Tribune, 1925-01-15) reports heavy withdrawals / 'have had heavy run for several days' and that the bank 'closed doors' with a state bank examiner now in charge. No mention of reopening; therefore treated as suspension leading to closure. The cause of the run is not specified beyond 'heavy withdrawals' and nervousness, so classified as rumor_or_misinformation (no concrete insolvency or correspondent failure described).

Events (2)

1. January 13, 1925 Run

Cause: Rumor Or Misinformation
Cause Details: Several days of heavy withdrawals / depositor nervousness led to inability to meet demands; no specific insolvency or scandal described.
Measures: Bank notified federal examiners and controller; promised depositors every dollar would be paid.
Newspaper Excerpt: have had heavy run for several days, and the situation finally us to the point where we could no longer meet the demand.
Source: newspapers

2. January 14, 1925 Suspension

Cause Details: Bank closed after inability to meet heavy withdrawals; state bank examiner and commissioner notified.
Newspaper Excerpt: The Farmers and Merchants bank of Rexburg, Idaho, closed doors, yesterday morning ... A state bank examiner is now in charge of the bank
Source: newspapers

Newspaper Articles (1)

1. January 15, 1925 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, January 15, 1925

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Article Text

REXBURG BANK CLOSES DOORS Institution Said to Be in Good Shape, but Unable to Stand Withdrawals. Special The Tribune IDAHO FALLS. Idaho, Jan. The Farmers and Merchants bank of Rexburg operations this morning and the state bank commissioner was notified that the institution is unable to meet the heavy withdrawals which have embarrassed the bank for the past few days. The bank is said to be in good financial standing. with no liabilities, except those due to the depositors and the federal reserve, and the promise is held out to depositors that all money will be Alfred Ricks of the Sugar City Mercantile company is president of the bank In telephone communication at noon today Mr. Ricks said have had heavy run for several days, and the situation finally us to the point where we could no longer meet the demand. We have notified the controller of the national board of bank examiners of conditions and are not in position to state positive. ly just what course will be taken. However. we are promising our positors that every dollar we owe them will be paid. We have no out. standing debts and our only obliga tions are to the depositors and the federal reserve. Our assets are estiat the two dollars for every one The deposits amount to approximately $60,000 The Farmers and Merchants bank of Rexburg, Idaho, closed doors, yesterday morning, according to telegram received by R. B. Mother well. managing director of the Salt Lake branch of the federal reserve sioner of finance of Idaho A state bank examiner is now in charge of the bank, under Mr. Porter's direction. The bank's deposits are approximately $60,000 and the institution's capital is $50,000.