403. Community Bank & Trust Company (Hot Springs, AR)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
November 30, 1931
Location
Hot Springs, Arkansas (34.504, -93.055)

Metadata

Model
gpt-5-mini
Short Digest
e1c4dd22

Response Measures

Full suspension

Other: Bank was closed for liquidation and later placed in receivership (mentioned in loan listing as 'receiver').

Description

Article (The Daily World, 1931-11-30) reports a run when the bank opened and that it was closed for liquidation the same day. A later article (The Dayton Herald, 1932-11-28) lists the Community Bank & Trust Co. as (receiver), corroborating that the bank remained closed and entered receivership/liquidation. No evidence of reopening.

Events (3)

1. November 30, 1931 Run
Cause Details
A sudden run developed when the bank opened Monday morning; article gives no specific trigger such as a rumor or adverse revelation.
Measures
Closed the bank to safeguard interests of depositors and stockholders (statement by president and cashier).
Newspaper Excerpt
On account of a run on our bank which developed when we opened for business Monday morning
Source
newspapers
2. November 30, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed for liquidation immediately after the run; article states management believed the bank solvent but closure was necessary to protect depositors and stockholders.
Newspaper Excerpt
was closed today for liquidation.
Source
newspapers
3. November 28, 1932 Receivership
Newspaper Excerpt
Listed in loan roundup as Community Bank Trust Co. (receiver) in The Dayton Herald, 1932-11-28 (indicating receiver in place).
Source
newspapers

Newspaper Articles (2)

Article from The Daily World, November 30, 1931

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Article Text

SMALL BANK CLOSES DOOR AT THE SPA COMMUNITY BANK AND TRUST COMPANY UNABLE TO WITH. STAND UNEXPECTED RUN Hot Springs. Nov. 30.-(AP)The Community Bank and Trust Company, the city's smallest bankng institution. located in an outying district, was closed today for iquidation. The bank was established a few ears ago by the late Hamp Willams. The deposits were slightly ess than $1,000,000. A statement was issued, signed by the president. J. O. Langley, and he cashier, Thomas W. Stone, which said: "On account of a run on our bank which developed when we opened for business Monday morning we found it absolutely necessary to close the bank to safeguard the interests of our depositors and stockholders We are satisfied that our bank is perfectly solvent and haven't the lightest doubt that every depositor will be paid in full"


Article from The Dayton Herald, November 28, 1932

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Article Text

LOANS BY FEDERAL CORPORATION NEAR $55,000,000 (Concluded from Page One) relief purposes, were made of railroads including the Chicago and Northwestern and the Erie. The Chicago and Northwestern received $12,461,350; the Erie, $6,170,000; the Baltimore and Ohio the Lehigh Valley each received $3,000,000; the New York, New Haven and Hartford, $700,000 the Chicago and Eastern Illinois $338,the Pittsburgh and West Virand the Copper LOAN OF MILLION The largest bank loan the Peoples American State bank of Sandusky, Mich. Most the other bank loans were small, the highest were in the neighborhood of $300,000. or the eight insurance loans, the largest, $380,000 was to the Columbian Mutual Life Insurance company of Memphis, Tenn. The largest mortgage company loan was 900,000 for the Western Loan and Investment company of Boise, Ida The New York Title and Mortgage company of New York City, received $1,000,000. Only three state relief loans ing the month totaled more than $1,000,000; Illinois receiving the largest advance, $6,303,150. BANK LOANS. Loans to banks included: Arkansas: Hot the Arkansas National Bank of Hot Springs, $98,990; Community Bank Trust Co. (receiver), the ern County Ontario, the First National Bank of Ontario. San Gabriel the First National Bank of San Gabriel, 000. Trust Co., $100,000; New Haven, the Community Bank & Trust Co., Idaho: Idaho Falls, Anderson Bros. bank, Twin Falls, the First National Bank of Twin Falls (receiver), per cent) Illinois: Bloomington, First tional Bank Trust Co. of Bloomington, $58,000: Chicago, East Trust & Savings bank. wood Park Trust Savings bank, $11,500; Chicago Heights, the Citizens National Bank of Chicago Heights. $18,000; the State National Bank of Peru, $50,534.85; Quincy State Savings Loan Trust Co., $42,000; Waukegan, Waukegan National bank (receiver), $300,000 per cent): West Chicago, State Trust & Savings bank $34,261.11. Indiana Elwood, Elwood State bank, $20,000; Gary, the First tional Bank of Gary (receiver) 000 per cent): the National Bank of America at Gary (receiver) $105,000 per Noblesville, Citizens State bank, South Bend, the Joseph Loan Trust company $42,500. BANK GETS $50,000 Iowa Des Moines, Home Savings bank, $50,000; Perry the Clay County National bank, Kentucky: Henderson, Ohio Valley Banking Trust Co., $306,000. Louisiana: Hammond. Hammond State Bank Trust Co., $200,000; Lake Charles, Calcasieu National bank in Lake Charles, $250,000. Maine: Portland, Casco Mercantile Trust Co., $482,000; Van Buren, the First National Bank of Van Buren, $29,000 Maryland: Thurmont, the Thurmont bank, $150,000. Michigan: Detroit, Union Guardian Trust $400,000; Grand Rapids. Grand Rapids ings bank, $250,000, $250,000, $250,000 (three loans): Hamtramek ples Wayne County Bank of Hamtramck. $469,975; Highland Park, Highland Park Trust company, $105,000; Lansing, the Capital tional Bank of Lansing, $325,000; Saginaw, Peoples American State bank. GETS TWO LOANS. Missouri: St. Louis, Hodiamont bank (two loans), $95,000 (x) and the $13,000; Laclede Trust company, $150,000; Scruggs Vandervoort Barney bank, $130,000. cast Nebraska: Columbus, Farmers State bank, New Jersey: Hoboken, Hoboken every Trust company, $125,000 (repaid full): Paterson. Labor National Bank of Paterson, $50,000; West Scores New York, the First National bank, phone $195,000 West Paterson, the Westside National Bank of West Ohio: Akron, Commercial Bank and Trust company, $346,509.78 Elyria, the Elyria Savings and Trust company, $144,000; Lorain. the City Bank company, $59,500, and the rain Banking company, $70,000; Marion. Marion Savings Bank company (receiver), $20,500 per ator cent): Massillon, Ohio-Merchants Trust Company of Massillon. $210.Sandusky, the Commercial Bank and Trust Com any of Sandusky, $53,500 and $8,500 (two loans): Springfield, the LagondaCitizens National bank, $200,000. Oregon: Albany, the First Na- turn tional bank, $34,500; The Dalles, the