4840. Farmers Savings & Trust Company (Corydon, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
March 4, 1922
Location
Corydon, Indiana (38.212, -86.122)

Metadata

Model
gpt-5-mini
Short Digest
2b4f85b07fcbf2a8

Response Measures

None

Description

Articles report the Farmers Savings & Trust Co. was closed by state bank examiners in early March 1922 and a receiver appointed; no contemporaneous newspaper text describes a depositor run. The bank remained closed and a receiver pursued claims (suit filed by receiver in 1923).

Events (2)
1. March 4, 1922 Receivership
Newspaper Excerpt
Samuel L. Refly ... was appointed receiver for the Farmers Savings and Trust Co.
Source
newspapers
2. March 4, 1922 Suspension
Cause
Government Action
Cause Details
Closed by state bank examiners (state authorities took charge of the institution).
Newspaper Excerpt
was also closed by state bank examiners
Source
newspapers

Newspaper Articles (3)
1. March 5, 1922 South Bend News-Times South Bend, IN
Article from South Bend News-Times, March 5, 1922

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Article Text

APPOINT RECEIVERS FOR DEFUNCT BANKS CORYDON Ind., March 4.Samuel L. Refly formerly assistant cashier of the defunct Corydon National bank, which was closed recently by national bank examiners. was appointed receiver for the Farmers Savings and Trust Co., which was also closed by state bank examiners, by Judge F. J Wilson. W. D. Barnes was appointed receiver for the Elizabeth State bank. which also was closed by an examiner. Their bonds were fixed at $20,000. Mr. Barnes was president of the Elizabeth bank before state authoritties took charge.

2. March 7, 1922 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, March 7, 1922

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Article Text

Corydon Bank Loss May Reach $500,000, Report (By Associated Press) CORYDON, Ind., March 7.-Invest:gation of the three defunct banks in and near Corydon, has not yet been completed, but it was said by bank examiners yesterday that the loss of the Corydon national bank will reach $500,000. The loss of the Elizabeth bank will run as high as $17,000 and that of the Farmers' Savings and Trust company $100,000, the examiners said. Receivers of the bank have been appointed and will take over the affairs of the in. stitution as soon as the examiners have completed their investigation.

3. February 23, 1923 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, February 23, 1923

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Article Text

Suit Charges Irregularity By Times Special CORYDON, Ind., Feb. 23.-Suit for $44,739.36 has been filed against Wilson E. Cook and the American Surety Company by Samuel L. Rielly, receiver of the Farmers' Savings and Trust Company, which failed a year ago. Cook was secretary-treasurer. Charges of irregularity are made.