State Bank - Success, AR

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 26, 1930
Location: Success, Arkansas (36.455, -90.722)

Metadata

Model: gpt-5-mini
Short Digest: 83c67fd8

Response Measures

None

Description

Article (Nov 26, 1930) reports the State Bank at Success is unable to meet school warrants and groups of banks in the county are 'closed.' The text does not describe a depositor run or receivership, nor mention reopening. I classify this as a suspension/closure (bank closed or suspended operations) — closure is inferred from headline and context (closed banks) though permanent closure is not explicitly stated.

Events (1)

1. November 26, 1930 Suspension

Cause Details: Many bank failures/closures in the county have tied up funds; bank unable to pay school warrants despite having funds on hand
Newspaper Excerpt: Although the State Bank at Suecess has the money on hand to pay off every depositor, it is unable to take care of the warrants of the school
Source: newspapers

Newspaper Articles (1)

1. November 26, 1930 Daily American Republic Poplar Bluff, MO

Article from Daily American Republic, November 26, 1930

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Article Text

SUCCESS SCHOOL FUNDS TIED UP IN CLOSED BANKS Special to American Republic. Success, Ark., Nov. 26.-Teachers of Success, Corning and several other schools will be forced to work without receiving pay for a few months, due to SO many bank failures in the county. Although the State Bank at Suecess has the money on hand to pay off every depositor, it is unable to take care of the warrants of the school, was the report made by R. R. Hosey, cashier of the bank, at a school board meeting here last night. Although the teachers here are completely out of funds, they are willing to work rather than to see the school close.