Exchange Bank - Little Rock, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1930*
Location: Little Rock, Arkansas (34.746, -92.290)

Metadata

Model: gpt-5-mini
Short Digest: c7bb6c1e

Response Measures

None

Description

Article (Dec 18, 1930) states the North Arkansas Bank closed Nov 17 following the closing of the Exchange Bank of Little Rock. The Exchange Bank is described as having closed its doors prior to Nov 17; no run is mentioned and no specific receiver for Exchange Bank is named in this clipping. The closure appears permanent and related to failures in a chain of banks controlled by A. B. Banks, suggesting bank-specific adverse conditions leading to suspension and closure.

Events (1)

1. November 1, 1930* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closure appears linked to failures in a chain of banks controlled by A. B. Banks of Little Rock; bank closed its doors prior to Nov 17, 1930, leading to downstream closures in the chain.
Newspaper Excerpt: the closing of the Exchange Bank of Little Rock
Source: newspapers

Newspaper Articles (1)

1. December 18, 1930 The Newark Journal Newark, AR

Article from The Newark Journal, December 18, 1930

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Article Text

RECEIVER FOR BANK Frank Grammer Named as Liquidating Agent For Batesville Bank. Frank Grammer, formerassistant cashier of the old First National Bank of Batesville and who more recently has been engaged n the insurance business in Little Rock, has been apbointed by the State Bankng Department as liquidting agent for the purpose of liquidating the affairs of the North Arkansas Bank of Batesville which closed ts doors November 17, folowing the closing of the Exchange Bank of Little Rock. Mr. Grammer took charge of the bank at Batesville Monday morning and began he work of checking up the nventory as given by F. T. Hunter, cashier, at the time he bank closed. C. D. Metcalf, insurance of Batesville who was formerly cashier of the defunct Union Bank at Batesville, has been appointed assistant to Mr. Grammer. It is said that deposits of the North Arkansas Bank totaled $819,831.57 on the date it closed. It was one of the so-called Banks chain controlled by A. B. Banks f Little Rock. Several thousand dollars of county funds were on deposit in the North Arkansas Bank at the time it closed, and the closing of the bank has had a demoralizing efect on county finances, as well as all other lines of business. Much county scrip has been sold as low as 50 cents.