Farmers State Bank - Redkey, IN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 10, 1923
Location: Redkey, Indiana (40.349, -85.150)

Metadata

Model: gpt-5-mini
Short Digest: ec8be277

Response Measures

Full suspension

Other: Two local Redkey banks experienced depositor runs and subsequently closed; stockholders expected to consolidate into a new Union State Bank of Redkey.

Description

Article (Indianapolis Times, 1923-08-10) states a depositor's run closed the Farmers State Bank. It indicates permanent closure and that stockholders plan a consolidation to form the Union State Bank of Redkey. No detailed cause of the run is given in the text, so cause is classified as 'other'.

Events (2)

1. August 10, 1923 Run

Cause Details: Article only reports a depositor's run; no specific trigger (rumor, correspondent failure, or bank-specific scandal) is given.
Newspaper Excerpt: A depositor's run has closed the Farmers State Bank.
Source: newspapers

2. August 10, 1923 Suspension

Cause Details: Bank closed as a direct result of the depositor run; article implies permanent closure and consolidation with another closed Redkey bank to form Union State Bank of Redkey.
Newspaper Excerpt: Second Redkey Bank Closes ... A depositor's run has closed the Farmers State Bank.
Source: newspapers

Newspaper Articles (1)

1. August 10, 1923 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, August 10, 1923

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Article Text

Second Redkey Bank Closes By Times Special REDKEY, Ind., Aug. 10.-A depositor's run has closed the Farmers State Bank. Several days ago the bank of Redkey closed under similar conditions. A meeting of the stockholders will be held Aug. 17 and it is thought a new bank to be known as the Union State Bank of Redkey will be opened as a result of the consolidation of the two.