6404. Grayson County Bank (Leitchfield, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 10, 1930
Location
Leitchfield, Kentucky (37.480, -86.294)

Metadata

Model
gpt-5-mini
Short Digest
da9e63688ca50782

Response Measures

None

Description

Articles list Grayson County Bank (Leitchfield, KY) among banks that closed and are being liquidated; specific closing date given as March 10, 1930. No run is described in these excerpts; closure appears to be part of regional banking distress following the Louisville failures (treated as local banks distress).

Events (1)
1. March 10, 1930 Suspension
Cause
Local Banks
Cause Details
Closed March 10, 1930 and listed among banks being liquidated in the wake of the Louisville banking failures; closure appears related to regional banking distress following the November Louisville crash.
Newspaper Excerpt
Grayson County bank, Leitchfield, March 10, 1930, $357,254;
Source
newspapers

Newspaper Articles (3)
1. August 23, 1931 The Paducah Sun Paducah, KY
Article from The Paducah Sun, August 23, 1931

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Article Text

Under the Dome of The State Capitol By DWIGHT L. PITKIN Associated Press Staff Writer FRANKFORT, KY., Aug. 22 (AP) -The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now." remarked Commissioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville Monday of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last Nov. 7. Another one, the Guaranty Bank & Trust company of Lexington, has been taken over by the Citizens Bank and Trust under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the reorganized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929 will be $8,816,846 after the re-opening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Liquidate Closed Banks. Banks that closed prior to November have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust Company, Hickman, Dec. 30, 1929, Hargis Bank & Trust company, $59,826; Hargis Bank & Trust company, Jackson, Feb. 5, 1930, $554,368; Grayson County bank, Leitchfield, March 10, 1930, $357,254; the Peoples Bank, Mt. Vernon, April 22, 1930, $260,855; LaGrange Bank and Trust company, LaGrange, May 25, 1930, $352,232; Bank of Russellville, Russellville, June 12, 1930, $183,660; Hazel Green bank, Hazel Green, June 30, 1930, $184,054; Elsmere Savings bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank, Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after Nov. 17. Other banks with their gross deposits liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin, $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297; Fern Creek bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard bank and the American Mutual Savings bank, which closed

2. August 24, 1931 The Daily Independent Maysville, KY
Article from The Daily Independent, August 24, 1931

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Article Text

of the re-organized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust company, All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to Novem- other one. the Guaranty Bank ber have been or are being liquidated. These banks with the date of Trust Company of Lexington, has been taken over by the Citizens their closing and their gross deposit Bank and Trust company under the liabilities are listed here: Hickman presidency of W. A. Dicken, former Bank & Trust Company, Hickman, state banking commissioner. Decemberf 30, 1929, $595,862: Hargis Thirty-seven banks and trust com- Bank & Trust Company, Jackson, panies, under the supervision of the February 5, 1930, $554,368; Grayson state banking department, have been County Bank, Leitchfield, March 10, suspended since January 1, 1929 1930, $357,254; the Peoples Bank, The gross deposit liabilities of these Mt. Vernon, April 22, 1930, $260,institutions totaled $29,087,437. Of 855; La Grange Bank and Trust the banks re-opened or liabilities Company, LaGrange, May 26, 1930. assumed, the gross deposit liabilities $352,232; Bank of Russellville, Rustotaled $6,410,677. The re-opening sellville, June 12. 1930. $183,660; Hazel Green Bank, Hazel Green, June 30. 1930, $184,054: Elsmere Savings Bank, Erlanger, July 3, 1930. $192,870: Vine Grove State Bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank. Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin. $373,509: Bank of St. Helens, Shively, $412,824: Peoples Bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State Bank. Crestwood, $139,297: Fern Creek Bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard Bank and the American Mu- tual Savings Bank. which closed in Louisville November 17. were later consolidated into the Mutual Standard Bank. The bank resulting from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bank, Boonevill, $100,329; Union Central Bank, Louisville, $503,578; Bankers Trust Company, Louisville, $553,279; Hopkins County Bank, Madisonville, $717,587; Woodbury Deposit Bank, Woodbury, $37,693; Citizens Bank & Trust Co., Middlesboro, $495,977; Webster County bank, Clay, $164,676: Bank of Ludlow, Ludlow, $363,359: Bank of Hardinsburg & Trust Co., Hardinsburg, $523,381 Liquidating agents hav not been appointed for five state banks which have closed since the first of July. These banks are: Citizens Bank, Drakesboro, $81,755; Bank of Barlow, $91,910: Butler Deposit Bank. Butler, $614,388; Bank of Wayland, Wayland, $145,348; Beaver Valley State Bank. Weaksbury, $113,269. Kentucky's Tourist Trade Geoffrey Morgan, acting executive secretary of the Kentucky Progress commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for Janusry. The tax commission showed gasoline taxes collected in January of this year totaled $620,885.50 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this. We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

3. August 24, 1931 The Kentucky Post Covington, KY
Article from The Kentucky Post, August 24, 1931

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PAGE BANK OUTLOOK CALLED BRIGHT Bumper Lamb Crop to Aid State Institutions COMMISSIONER REPORTS Good Price for Tobacco Needed Now, He Says FRANKFORT KY. Aug. Kentucky's banking situation has begun to take on bright aspect. That is the opinion expressed by S. Wilson, state banking com A bumper lamb crop that brought in cash has helped replenish rural banks, Wilson said Kentucky farms had fewer sheep but the number lambs raised per 100 greater than last year Excellent quality found in the crop. "What's remarked Wilson good price for the tobacco crop. Reopened Reopening Louisville today of the reorganized Louisville Trust Co. will be the ninth bank has reopened out of the group that closed their assets wake of the in Louisville Nov Another one, the Guaranty Bank Trust Lexington, has been taken over by the Citizens' Bank Trust under the presidency of W. Dicken. former state Thirty-seven banks and trust the the State Banking have been 1929 The gross of these totaled 437 or the banks reopened or liabilities sumed, gross deposit liabilities totaled Reopening of the reorganized Co. expected gross liabilities $13,859,914 make toliabilities released $20,270,591 The State Banking Department that amount gross deposit liabilities state will be the reopening of the Co. All But Nine All but nine of these state bank date after the closing the Trust Co. and the National Bank of Louisville last November. Liabilities of the National Bank of Kentucky are not included in the State Bankunder the supervision the Federal Banking Department. The National Bank Kentucky already has paid 67 per cent dividend Banks that were closed before November been or are being These with and their gross deposit liabilities, Hickman Bank Hickman, Dec 30, 1929 $595,862 Hargis Bank Co. Jackson Feb. $554,368 Grayson-co Leitchfield March 10. 1930, $357,254 Peoples Bank, Mt Vernon, April 1930, $260,855 Grange Bank Grange, May 26, 1930. $352,232; Bank of RusGreen 1930 $184,054: Elsmere Savings Grove State Bank, Vine Grove, $91,464. Others Come Back The banks that have been opened last year include the Security Bank. able open for few days after Other banks, their gross deposit liabilities, that been reopened Bank & Trust Bank of Helens, Shively $412,824 Peoples Grestwood State Bank Crestwood $139,297 Creek Bank Buechel $292,638; Bank of Sturgis Sturgis $256,463. Two Negro banks, the First Standard Bank and Muutal which Louisville later solidated into the Mutual Standard Bank. The from merger closed this year being liquidated. Liquidating agents have for the following banks closed since Novem Agents Not Named Bank, $100. 328 Union Bank, $503,578 Bankers Trust Co. Louisville $553,279 Hopkins-co Bank, Madisonville $717,587 bury Deposit Bank, Woodbury $37 Citizens Bank Trust Middlesboro, $495,977 Bank, Clay, $164,676 Bank of Ludlow, Ludlow $636,359 Bank of Har dinsburg & Trust Co. Hardinsburg Liquidating agents have not been appointed for five state banks that closed since the 1st These banks Bank Bank of Barlow, Barlow Deposit Bank, Butler Wayland Beaver State Bank, Weaksbury, $113,269.