Article Text
ARKANSAS BANK CLOSED. Searcy, Ark., September The People's Bank of Searcy by the State Banking Department today. Officials said the closing caused by neavy withdrawals. The bank had a capital stock $100,000.
578. Peoples Bank (Searcy, AR)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- state
- Start Date
- October 1, 1931
- Location
- Searcy, Arkansas (35.251, -91.736)
Metadata
- Model
- gpt-5-mini
- Short Digest
d5b72dca
Response Measures
Full suspension
Other: Bank was closed by State Banking Department after heavy withdrawals.
Description
Newspaper reports 'The People's Bank of Searcy' was closed by the State Banking Department due to 'heavy withdrawals.' This indicates a depositor run followed by an official closure by the state — classified as run leading to suspension/closure by government action. OCR truncated the dateline; used newspaper date for timing.
Events (2)
1.
October 1, 1931
Run
- Cause Details
- Heavy withdrawals/depositor panic reported; no specific trigger (rumor or bank-specific failure) given.
- Newspaper Excerpt
- Officials said the closing caused by neavy withdrawals.
- Source
- newspapers
2.
October 1, 1931
Suspension
- Cause
- Government Action
- Cause Details
- Closed by the State Banking Department after heavy withdrawals.
- Newspaper Excerpt
- The People's Bank of Searcy by the State Banking Department today.
- Source
- newspapers
Newspaper Articles (1)
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