American Trust Company - Jonesboro, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: August 1, 1933
Location: Jonesboro, Arkansas (35.842, -90.704)

Metadata

Model: gpt-5-mini
Short Digest: 5603e4c1

Response Measures

None

Description

Articles state the American Trust Company is 'defunct' and that Herbert Parker is receiver; audits of liquidation were filed. No mention of a depositor run in the provided text. Therefore this is a suspension leading to permanent closure (receivership/government action).

Events (2)

1. August 1, 1933 Receivership

Newspaper Excerpt: Audits covering the liquidation ... were filed today with Circuit Court Clerk Leslie Isom, Herbert Parker, receiver for the two defunct banks.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank placed in liquidation and a receiver (Herbert Parker) appointed; payments suspended as part of liquidation.
Newspaper Excerpt: Audits covering the liquidation of the Bank of Jonesboro and the American Trust Company May, June, and July were filed today with Circuit Court Clerk Leslie Isom, Herbert Parker, receiver for the two defunct banks.
Source: newspapers

Newspaper Articles (1)

1. August 1, 1933 The Sun Jonesboro, AR

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Article Text

BANK RECEIVER FILES AUDIT Audits of Liquidation of funct Bank of Jonesboro and American Trust. Audits covering the liquidation of the Bank of Jonesboro and the American Trust Company May, June, and July were filed today with Circuit Court Clerk Leslie Isom, Herbert Parker, receiver for the two defunct banks. Condition Outlined. The audits show that the Bank Jonesboro still has bills payable $142,000 and common claims with what are considered good assets of over Bills payable of $523,682.67, are still charged against the American Trust Company. Common claims with assets considered good of over $300,000.00. W. H. Boone. 64, of Noland, near Pocahontas, was brought to St. Bernard's Hospital today to receive treatment for broken leg.