Farmers & Merchants State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 9, 1921
Location: Pawnee Rock, Kansas (38.265, -98.981)

Metadata

Model: gpt-5-mini
Short Digest: d434c453

Response Measures

None

Description

Bank was closed by the Kansas state banking department on December 9, 1921 after investigation found irregularities and alleged shortages. A receiver (E. M. Smart) was appointed and the former cashier was arrested; the institution is being liquidated, so this is a suspension leading to permanent closure/receivership.

Events (3)

1. December 9, 1921 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Investigation found irregularities in management and alleged shortages of $10,000 by the former cashier.
Newspaper Excerpt: The bank was closed by the state department December 9 following investigation into irregularities in management of the institution's affairs.
Source: newspapers

2. December 22, 1921 Other

Newspaper Excerpt: W. M. Billups, former cashier of the bank, has been arrested. He is held in connection with alleged shortages of $10,000.
Source: newspapers

3. December 22, 1921 Receivership

Newspaper Excerpt: The state banking department has appointed E. M. Smart of Spearville as receiver for the defunct Farmers' & Merchants' State bank of Pawnee Rock. Affairs of the bank will be liquidated.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1921 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, December 22, 1921

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Article Text

BANK RECEIVER APPOINTED E. M. Smart Will Manage Affairs of Pawnee Rock Institution. The state banking department has appointed E. M. Smart of Spearville as receiver for the defunct Farmers' & Merchants' State bank of Pawnee Rock. Affairs of the bank will be liquidated. W. M. Billups, former cashier of the bank, has been arrested. it was announced. He is held in connection with alleged shortages of $10,000. The bank was closed by the state department December 9 following investigation into irregularities in management of the institution's affairs.