402. Bank of Lake City (Lake City, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 2, 1933
Location
Lake City, Arkansas (35.816, -90.434)

Metadata

Model
gpt-5-mini
Short Digest
bca6f2bb971550f9

Response Measures

None

Description

Articles describe the Bank of Lake City as a defunct bank with a receiver (Herbert Parker) and liquidating agent. The bank closed prior to Feb 2, 1934 (article references the first anniversary of closing on Feb 2, 1934), indicating a permanent closure and receivership. No article describes a depositor run prior to suspension; events are closures/receivership and asset sale leading to full payment to depositors.

Events (3)
1. February 2, 1933 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership (first anniversary of closing noted Feb 2, 1934).
Newspaper Excerpt
the first anniversary of the closing of the bank.
Source
newspapers
2. August 2, 1933 Receivership
Newspaper Excerpt
Herbert Parker, liquidating agent for the Bank of Lake City, today stated that this bank would be the first bank in Craighead County, that has closed, to pay depositors 100 cents on the dollar. Only two unpaid notes remain against the bank ... Assets are over $22,000 with $10,800 deposits.
Source
newspapers
3. November 23, 1933 Receivership
Newspaper Excerpt
Sale of Assets of Defunct Bank By Receiver Parker To George of Lunsford Enables Full Payment ... the depositors have been paid 100 cents on the dollar ... sale the entire assets of the bank including real estate by Mr. Parker to George McVey of Lunsford.
Source
newspapers

Newspaper Articles (2)
1. August 2, 1933 Monette Weekly Sun Monette, AR
Article from Monette Weekly Sun, August 2, 1933

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Article Text

Lake City Bank To Pay 100 Cents Herbert Parker. liquidating agent for the Bank of Lake City, today stated that this bank would be the first bank in Craighead County, that has closed. to pay depositors 100 cents on the dollar. Only two unpaid notes remain against the bank, one for $3 400 and the other for $3,100. Assets are over $22,000 with $10,800 deposits.

2. November 23, 1933 The Sun Jonesboro, AR
Article from The Sun, November 23, 1933

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Article Text

Depositors Of Lake City Bank Paid 100 Cents On The Dollar Sale of Assets of Defunct Bank By Receiver Parker To George of Lunsford Enables Full Payment, Establishing Record. of the affairs of the Liquidation defunct Bank of Lake City has been completed by Receiver Herbert Parkand the depositors have been paid 100 cents on the dollar the first defunct Arkansas bank to make payment full. The 100 per cent payment was. made possible through the sale the entire assets of the bank including real estate by Mr. Parker to George McVey of Lunsford Claimants to Be Paid Sufficient cash was realized to enable payment of the 100 cents on the dollar depositors and leaves enough money in escrow to pay all claimants who have not made proof of their claims in full provided such proof is made by February 2, 1934, the first anniversary of the closing of the bank.