Planters Bank & Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust
Start Date: December 4, 1930
Location: Nashville, Arkansas (33.946, -93.847)

Metadata

Model: gpt-5-mini
Short Digest: 241a4b673019d968

Response Measures

None

Description

Article (Hope Star, 1930-12-04) reports Planters Bank & Trust Co. of Nashville, AR suspended by the state banking commissioner on Thursday (reported 1930-12-04) for five days after heavy withdrawals. The suspension was attributed to losses from loans to a large peach orchard wiped out by pests/frost (local agricultural shock). The piece states reorganization/new capital likely and the bank expected to reopen shortly. OCR errors in the text were corrected (e.g., garbled names and phrases).

Events (1)

1. December 4, 1930 Suspension

Cause: Local Shock
Cause Details: Heavy withdrawals followed losses on loans to the Highland Peach Orchard company after the 1930 peach crop was wiped out by pests/frost, severely damaging the bank's loan book and liquidity.
Newspaper Excerpt: Planters Bank & Trust Co., of Nashville, Ark., ... suspended Thursday for five days ... heavy withdrawals responsible for the closing ... bank had made loans to the Highland Peach Orchard company ... 1930 crop was wiped out entirely ...
Source: newspapers

Newspaper Articles (1)

1. December 4, 1930 Hope Star Hope, AR

Article from Hope Star, December 4, 1930

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Article Text

Nashville on Blamed Planters Bank & Trust Co. Suspended Thursday For Five Days AIDED BIG ORCHARD Total Failure of the Peach Crop This Year Hurt Institution Planters Bank Trust Co., of Nashville, Ark., period, announced Thursday by the state banking commissioner. The Planters was the only banking house in Nashville, and was the chief depository private and public business in Howard county. Headed By Bell George Bell, member of the construction committee in charge of the building of the new state hospital nervous diseases, director of the Arkansas State Chamber of Commerce and prominent in and business circles, president of the bank. H. Toland is chairman of the board. Dickenson, assistant state banking commissioner, quoted saying that heavy withdrawals responsible the closing of the bank. An effort made to reorganize the bank was stated here. Hurt By Orchard Diekenson said the bank had made loans to the Highland Peach Orchard company, owners of the largest peach orchard in and to smaller peach crop in the 1929 by an attack worms, and the 1930 crop was wiped out entirely by The bank's in Octovbanearly frost last spring. The bank's statement in October showed capital and surplus of $155,000, and deposits of $579,000. The Planters Bank & Trust Co. came the sole banking instituiton Nashville when absorbed the smallBank of Nashville by consolidation last summer. As the suspension leaves Nashville entirely without banking facilities, regarded fairly certain that new capital will be introduced and the bank reopened within short time.