421. Bank of Jonesboro (Jonesboro, AR)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 25, 1933
Location
Jonesboro, Arkansas (35.842, -90.704)

Metadata

Model
gpt-5-mini
Short Digest
a146ca6d

Response Measures

None

Description

Newspapers describe the Bank of Jonesboro as defunct and under liquidation with Herbert Parker named receiver. No run is mentioned. The bank is in receivership and being liquidated, i.e., suspended and effectively closed.

Events (3)
1. July 25, 1933 Receivership
Newspaper Excerpt
Receiver Parker Announces Transactions For Bank Of Jonesboro... agent for the defunct Bank of Jonesboro. ... Herbert Parker, agent for the defunct Bank of Jonesboro.
Source
newspapers
2. August 1, 1933 Other
Newspaper Excerpt
Audits covering the liquidation of the Bank of Jonesboro ... were filed today ... by Herbert Parker, receiver for the two defunct banks. The audits show that the Bank Jonesboro still has bills payable of $142,000 and common claims of $226,921.00 with what are considered good assets of over $700,000.00.
Source
newspapers
3. * Suspension
Cause
Government Action
Cause Details
Bank is described as defunct and in liquidation under a receiver (Herbert Parker) indicating suspension/closure by receiver/government action
Newspaper Excerpt
defunct Bank of Jonesboro
Source
newspapers

Newspaper Articles (4)
1. July 25, 1933 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, July 25, 1933

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Article Text

PARKER SAYS BOOM ON WAY Recent Business Deals Show Upturn, Bank Receiver Thinks FAITH RENEWED Craighead Residents Interested In Real Estate Again Business transactions during the past days connection with the liquidation of the defunct Bank of Jonesboro lead Receiver Herbert Parker, liquidating agent to believe that the proverbial corner has been reached and that hard times are definitely on their way out. Sales and trades of given as collateral for loans and other business transactions while the Bank of Jonesboro was in operation, have been better recently and only Monday one farm sold for $15,000 and rent for one year. The transaction cleared debt of approximately $30,000. Agricultural Community "Jonesboro depends on agriculture for its growth and business development", Mr. Parker declared, and recent transactions show every indication that people are again placing their faith in farming land other real estate." During recent months diversified farming methods have been gaining favor in Craighead county. Several hundred acres of strawberry plants have been planted and an early cash crop for farmers expected next spring The "live at home" program, which includes planting garden, growing livestock feeds, chickens, cows and hogs, has been gaining much headway in this section.

2. July 25, 1933 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, July 25, 1933

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Article Text

DEFUNCT BANK PAID $49,000 DEBTS MONDAY Receiver Parker Announces Transactions For Bank Of Jonesboro THREE CASH DEALS Bills Payable Slashed As Result Business Monday Cash transactions totalling $49.000 and several smaller transactions involving rental of property, settling of collateral on accounts and pledging of deposits in the defunct bank to the propcsed new bank. were announced today by Herbert Parker, agent for the funct Bank of Jonesbero. The transactions cut the bills payable, including over $200,depositors, to less $300,000 against approximately $700,000 accounts receivable. believed that over $200,000 of the bills payable WIII be pledged to the new bank either in deposits or stock. Deposits List Grows Between $140,000 and $150,000 deposits and stock has been pledged the proposed nex bank. Details are still incomplete, petition for charter will in all probability be made short time. Plans, according to unofficial reports, indicate Louis Allen, president; Herbert Parker, president; and Roy JAcobe, cashier, will be officials in the new institution. Edward Westbrooke, Sr., Roy Jacobs, and Joe Barratt are members minittee working on the project. In the transactions Monday murtgage $22,500 was paid in cash, the Ritter farm near Tyronza sold for $15,000 and cash settlement of $12,000 with the former United Insurance company completed.

3. August 1, 1933 The Sun Jonesboro, AR
Article from The Sun, August 1, 1933

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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.

4. August 2, 1933 Monette Weekly Sun Monette, AR
Article from Monette Weekly Sun, August 2, 1933

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Article Text

BANK RECEIVER FILES AUDIT Audits of Liquidation of Defunct Bank of Jonesboro and American Trust. Audits coyering 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, by Herbert Parker, receiver for the two defunct banks Condition Outlined The audits show that the Bank of Jonesboro still has bills payable of $142,000 and common claims of $226,921 00 with what are considered good assets of over $700,000.00 Bills payable of $523,632.67, are still charged against the American Trust Company. Common claims 136.00 with assets considered good of over $300,000.00