Leeds State Bank (Leeds, AL)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
July 8, 1929
Location
Leeds, Alabama (33.548, -86.544)
Bank Type
state
Routing Number
61-0316

Metadata

Notes

Contemporary reports place the bank in the hands of the State Banking Department; later reopening plans are mentioned but not confirmed in these articles.

Events (1)

1. July 8, 1929 Suspension
Cause
Local Banks
Cause Details
Heavy run on deposits (depositors withdrew funds); described as one of several banks closing in Birmingham district following runs
Newspaper Excerpt
The Leeds State Bank failed to open its doors today. Officials announced the affairs of the institution had been placed in the hands of the state banking department following heavy run on its deposits Saturday.
Source
newspapers

Newspaper Articles (19)

Article from Merced Sun-Star, July 8, 1929

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Fifth Alabama Bank Closes After Run LEEDS, Ala., July Leeds State bank failed to open doors today. Officials announced the institution had been placed the hands of the state banking partment, following heavy run. The Leeds bank was the fifth close the Birmingham district within the past two weeks.


Article from Springfield Evening Union, July 8, 1929

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Leeds State Bank in Alabama Closed LEEDS. La., July The Leeds State Bank failed to open its doors today. announced that affairs of the institution had been placed in the hands of the State Banking Department a heavy run on Bank the fifth to close the last two weeks. B. Lindon is president the institution which talized at $25,000 and had surplus of similar amount


Article from Marshfield News-Herald, July 8, 1929

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STATE BANK IN STATE OF ALABAMA CLOSES DOORS Leeds, Ala., July Leeds State failed to open its doors today. Officials the affairs the had been placed in the hands of the state heavy run The Leeds bank was the fifth to close in the within the. past two weeks. B. Lindon president the which capitalized $25,000 and had surplus of similar amount.


Article from The Post-Crescent, July 8, 1929

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BANK SHUTS DOORS IN Leeds, Leeds State failed to open its doors today Officials the affairs of the institution had placed in the hands of the banking depart day. The bank the fifth close the Birmingham district within two weeks. don president the which was at and surplus of similar amount.


Article from The Miami News, July 8, 1929

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ANOTHER BANK IS SUSPENDED LEEDS. Ala., July Leeds State failed to open doors today. Officials the institution placed hands of the state banking department following run its deposits Saturday The the fifth the Birmingham within the Lindon the which $25,000 had surplus of similar amount


Article from The Times-Tribune, July 8, 1929

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ALABAMA BANK FAILS TO OPEN DOORS July 8 Leeds State bank failed to open its doors announced that the affairs of the institution been in the state department following run on deposits Saturday Leeds was the close district within the past two weeks


Article from Lancaster New Era, July 8, 1929

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FIFTH ALABAMA BANK CLOSES Department in Charge of Leeds Institution's Affairs July Leeds State Bank failed open its doors today. Officials that the affairs of the placed in the hands of State Banking its deposits Saturday The bank the fifth closed the district within the Lindon the which capitalized $25,000 and had surplus of similar amount.


Article from Evening Herald Courier, July 8, 1929

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LEEDS STATE BANK FAILS The Leeds State Bank failed to open its doors today Officials nounced that the affairs of the institution had been placed in the hands of the state hanking depart ment following heavy run hank was th fifth to close in the Birmingham district within the past two weeks B. Lindon in president of the which was at $25,000 and had a surplus of similar amount.


Article from Deseret News, July 8, 1929

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Another Bank Fails To Open in Alabama July The Leeds State bank failed open its doors today. Officials nounced that the the stitution placed the hands the state banking ment. following heavy run $25.-


Article from The Charlotte News, July 8, 1929

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Bank in Alabama Closes Its Doors Leeds. Ala July 8.-(P)-The Leeds today State failed to open its doors Officials the affairs of the Institution had been placed in the hands State Banking Department following The Leeds the fifth District the past two Lindon is president of the was and had surplus of sim-


Article from The Columbia Record, July 8, 1929

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FIFTH BANK CLOSES. Leeds State bank failed to open its today. Officials announced that the affairs of the institution had bene placed in the hands of the state banking department following heavy on its deposits Saturday. The Leeds bank the fifth close in the Birmingham district within the two weeks. B. Lindon of the institution, was at $25,000 and had a surplus of similar amount.


Article from The Richmond News Leader, July 8, 1929

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Leeds State Bank In Alabama Closes Ala., July Leeds State failed to open its doors today. announced that the affairs the had been in the of the banking following its deposits Saturday The Leeds bank was the fifth close the Birmingham district within the past two Lindon president the capitalized and had surplus of simishirts


Article from Sun-Journal, July 8, 1929

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LEEDS STATE BANK CLOSED AFTER RUN LEEDS. July doors Leeds State Bank failed to open its Officials announced that the affairs institution had placed in the of the State banking department after heavy run its Saturday. The Leeds bank was the fifth close the Birmingham district last two Lindon the institution which $25,000 had surplus of similar amount.


Article from The Record, July 8, 1929

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Leeds Bank Placed in Hands State Department LEEDS Ala. July (Associated Press)-The Leeds State Bank failed to open its doors today Offi-


Article from Columbia Daily Tribune, July 8, 1929

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Alabama Bank Is Fifth to Close Leeds State Bank failed to open its today that the affairs the institution had placed the hands the banking Saturday The Leeds the fifth the within two weeks Lindon president the and surplus of similar amount.


Article from The Times Record, July 8, 1929

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STATE BANK FAILS Leeds, Ala., July Leeds State Bank failed to open its doors day. Officials that the fairs of the had been placed the hands of the deafter heavy run on its posits Saturday. The Leeds was the fifth to close in the district in the last weeks. B. Lindon president the institution which was capitalized $25,000 and had surplus of similar amount.


Article from The Grand Island Independent, July 9, 1929

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ALABAMA BANKING NOW UNDER INVESTIGATION Birmingham, Ala., July 9. (P)-The banking situation in the Birmingham district was under a three-way investigation by state and county officials Monday as fifth bank failed to open its doors. The Leeds State bank did not open for business Monday and its affairs were placed in the hands of the state


Article from Two Rivers Reporter, July 11, 1929

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Bank Fails to Open Its Doors LEEDS. Ala. Leeds State bank failed to open its doors Tuesday Officials announced the affairs of the institution had been placed the hands the state department following heavy run Saturday. The Leeds bank was the fifth to close in the Birmingham district within the past two weeks.


Article from The Sand Mountain Banner, July 18, 1929

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ONE OF CLOSED BANKS REOPEN IN BIRMINGHAM Southside Bank Resumes Business Without Incident Monday Birmingham, Ala., July Southside Bank, which closed its doors during heavy run on its by depositors, opened for business Monday. State bank who completed an audit of the bank's accounts last week, declared "solvent iting the confidence of the public." The reopening was without cident. Manor, president of the institution, said the hours of business were normal as the closing had merely been over the week end. Lassiter, president of the Avondale Bank Savings Company and the City Bank Trust Company, two the five financial institutions to close here early this month, issued his statement on the closings today which he asserted the belief depositors will paid in Lassiter turned from New York Thursday he made an effort to raise money for his banks and prevent their closing. He collapsed when informed the banks and since has been under the care of physicians. not try to run Lassiter said of his trip. went New York in an effort to raise to save the banks, but the money crash came too soon. My first purto the banks and to pose reopen this end will bend my every energy." Meanwhile plans were going forward to the Woodlawn reopen Savings Bank and Leeds State Bank, the other of five banks to close, with national charters.