Lee County National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 10854
Charter Number: 10854
Start Date: November 18, 1930
Location: Marianna, Arkansas (34.774, -90.758)

Metadata

Model: gpt-5-mini
Short Digest: 42eca5d2

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate: 79.2%
Date receivership started: 1934-05-01
Date receivership terminated: 1941-06-20
Share of assets assessed as good: 78.8%
Share of assets assessed as doubtful: 20.3%
Share of assets assessed as worthless: 0.8%

Description

A brief run occurred and was quickly stopped by paying checks in cash; no suspension or closure is mentioned. Cause tied to closures of affiliated Little Rock banks (contagion from local banks), not to misinformation or bank insolvency.

Events (3)

1. May 12, 1916 Chartered

Source: historical_nic

2. November 18, 1930 Run

Cause: Local Banks
Cause Details: Movement believed due to closing of banks affiliated with the American-Exchange Bank at Little Rock; Lee County National had no connection to that chain.
Measures: Paid checks rapidly in cash to meet withdrawals and thereby stopped the run.
Newspaper Excerpt: A message from Marianna states that a brief run on the Lee County National Bank was stopped within few minutes with cold cash. Checks were paid as rapidly as presented.
Source: newspapers

3. May 1, 1934 Receivership

Source: historical_nic

Newspaper Articles (1)

1. November 18, 1930 The Daily World Helena, AR

Article from The Daily World, November 18, 1930

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Article Text

INCIPIENT BANK RUN IS STOPPED WITH COLD CASH A message from Marianna states that a brief run on the Lee County National Bank was stopped within few minutes with cold cash. Checks were paid as rapidly as presented. and soon no more were tendered It was believed the movement was due to the closing of banks affiliated with the American-Exchange Bank at Little Rock The Lee County National is not a member of the chain and has no connection with the banks now temporarily closed.