Farmers State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 6, 1931
Location: Hobbs, Indiana (40.284, -85.947)

Metadata

Model: gpt-5-mini
Short Digest: 66c6c2b8

Response Measures

None

Description

Article (Nov 6, 1931) states the Farmers State Bank of Hobbs was permitted by the state banking department to liquidate; directors chose a liquidating agent and plan to close without a receiver. No run is mentioned; this is a voluntary liquidation leading to permanent closure.

Events (1)

1. November 6, 1931 Suspension

Cause: Voluntary Liquidation
Cause Details: Board permitted by state banking department to liquidate; directors appointed a liquidating agent to close the bank without a receiver and pay depositors over time.
Newspaper Excerpt: Permitted by the state banking department to liquidate on a showing of its ability to pay depositors, the board of directors of the Farmers State Bank, of Hobbs, has chosen H. E. Castor as liquidating agent.
Source: newspapers

Newspaper Articles (1)

1. November 6, 1931 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, November 6, 1931

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Article Text

Bank to Liquidate By Times Special NOBLESVILLE, Ind., Nov. 6.Permitted by the state banking department to liquidate on a showing of its ability to pay depositors, the board of directors of the Farmers State Bank, of Hobbs, has chosen H. E. Castor as liquidating agent. Nearly all notes held by the bank are for ninety days, and it is planned that the business of the bank can be closed without the services of a receiver in a comparatively short time.