6381. Farmers State Bank (Walkerton, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 28, 1930
Location
Walkerton, Indiana (41.467, -86.483)

Metadata

Model
gpt-5-mini
Short Digest
05f6118a

Response Measures

Full suspension, Books examined

Other: Bank closed after run; audit/examination ordered and petition for receivership later filed for related banks.

Description

Newspapers report a run on Farmers State Bank of Walkerton on Feb 28, 1930 that forced it to close and not reopen; later (1931) it is still described as having closed. The run was triggered by news of nearby bank closings (Tyner), so cause is classified as local_banks. No evidence of reopening; no explicit receiver for this bank mentioned in these articles.

Events (2)
1. February 28, 1930 Run
Cause
Local Banks
Cause Details
News of the State Bank at Tyner closing spread and triggered a run on deposits at Walkerton shortly after it opened for business.
Measures
Bank closed its doors immediately; announced it would not reopen until completion of an audit.
Newspaper Excerpt
News of the Tyner closing spread quickly and within an hour after the Farmers State bank of Walkerton had opened for business a run on deposits forced Its closing.
Source
newspapers
2. February 28, 1930 Suspension
Cause
Local Banks
Cause Details
Suspension/closure was a direct consequence of the deposit run sparked by the Tyner bank closing.
Newspaper Excerpt
Since Jan. six banks of the county have been closed after n run. The state bank at Tyner closed its doors Wednesday In an effort to protect its depositors after a small run had been started. News of the Tyner closing spread quickly and within an hour after the Farmers State bank of Walkerton had opened for business a run on deposits forced Its closing. The bank will not reopen until compleof an audit.
Source
newspapers

Newspaper Articles (3)
1. February 28, 1930 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, February 28, 1930

Click image to open full size in new tab

Article Text

THREE COUNTRY BANKS IN ST. JOSEPH COUNTY CLOSED South Bend, Ind., Feb. 28.--Three banks in the farming communities of St. Joseph county have closed their doors within the last fortyeight hours and H receivership for another has been asked by the state banking commission. Since Jan. six banks of the county have been closed after n run. The state bank at Tyner closed its doors Wednesday In an effort to protect its depositors after a small run had been started. News of the Tyner closing spread quickly and within an hour after the Farmers State bank of Walkerton had opened for business a run on deposits forced Its closing. The bank will not reopen until compleof an audit. The latest closing occurred late Thursday afternoon when directors of the Farmers State bank at Lapaz called In Thomas Barr, state inspector. Uneasiness among depositors and generally unsound business conditions were given as the reasons for the closing. The closIng was described as a "precautionary measure." The state bank commission Thursday fileda petion In the St. Joseph Circuit court asking a receivership for the Lakeville State arranged: bank, which closed its doors carlier Music. in the week because of frozen assets. On Jan. 17 the North Liberty State bank was closed because of shrinkage in deposits. The day Music. before the closing of the North Liberty bank the Argos State bank of Argos suspended business. Music.

2. February 28, 1930 Anderson Daily Bulletin Anderson, IN
Article from Anderson Daily Bulletin, February 28, 1930

Click image to open full size in new tab

Article Text

TWO BANKS IN STATE CLOSED South Bend. Ind., Feb. 28. The number of banks which have suspended operations in this vicinity since Jan. was boosted to six. when the Farmers' State Bank, of Walkerton. and the Farmers State Bank. of Lapaz, closed their doors yesterday. The State Bank. of Tyner, suspended business Wednesday after noon after a small run had started. The State Banking Commission yes terday filed a petition in the St. Joseph county court asking receivership for the Lakeville State Bank, which was closed earlier in the week because of frozen assets The North Liberty State Bank was forced to close Jan. 17, because of a shrinkage of deposits. The Argos State Bank, of Argos, suspended operation Jan. 16.

3. December 15, 1931 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, December 15, 1931

Click image to open full size in new tab

Article Text

SCHOOL SUES FOR $5,000. Trustees Seek to Recover Surety Funds. The board of trustees of the township consolidated school late Monday filed suit in superior court No. against the superior court No. against the Detroit Fidelity & Surety company, seeking to recover $5,000 of school funds for which the defendant was surety in the Farmers' State bank of Walkerton. this county, which closed its doors Feb. 28. 1930. ForStaley, Clemment Hahn Fred W. Bellinger. members of the township finance board. are made party defendants to the suit.