Paoli State Bank - Paoli, IN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 24, 1930
Location: Paoli, Indiana (38.556, -86.468)

Metadata

Model: gpt-5-mini
Short Digest: cdcaccce

Response Measures

None

Description

Single article (Chattanooga Daily Times, Nov 25, 1930) reports Paoli State Bank failed to open on Nov 24, 1930; closed by resolution of directors pending audit by state banking authorities. Directors state belief the bank is solvent and plan to restore cash. No run is mentioned, and language implies a temporary suspension with intent to resume, so classified as suspension_reopening.

Events (1)

1. November 24, 1930 Suspension

Cause Details: Closed by resolution of directors pending audit by the state banking department; directors state belief the bank is solvent
Newspaper Excerpt: PAOLI, Ind., Nov. 24 Paoli State bank failed to open today. notice posted on the door said the bank closed resolution directors pending audit by the state banking Directors express belief that the bank solvent, said time perfect plans to restore the cash
Source: newspapers

Newspaper Articles (1)

1. November 25, 1930 Chattanooga Daily Times Chattanooga, TN

Article from Chattanooga Daily Times, November 25, 1930

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Article Text

Small Indiana Bank Suspends. PAOLI, Ind., Nov. 24 Paoli State bank failed to open today. notice posted on the door said the bank closed resolution directors pending audit by the state banking Directors express belief that the bank solvent, said time perfect plans to restore the cash