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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.
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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.