7188. Citizens Bank (Columbia, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 22, 1911
Location
Columbia, Kentucky (37.103, -85.306)

Metadata

Model
gpt-5-mini
Short Digest
07a20cad

Response Measures

None

Description

No run is described in the articles. The bank suspended/closed in late September 1911; an examiner took charge and a receiver (L. C. Winfrey) was appointed to wind up affairs. Final settlement to depositors was completed by mid-1912. Underlying cause appears to be the bank's bad condition (insolvency), with government examiners/receiver actions.

Events (3)
1. September 22, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank affairs were reported in a bad condition by the state bank examiner, prompting suspension and examiner intervention.
Newspaper Excerpt
The Citizens Bank ... suspended business and closed its doors last Friday. The President, Mr. J. H. Young, notified the Secretary of State, and an examiner is in charge this week
Source
newspapers
2. October 2, 1911 Receivership
Newspaper Excerpt
The Bank will be opened Tuesday, Oct 3, 1911. for the purpose of winding up and settling the business of said institution ... L. C. Winfrey, Receiver Citizens Bank, Columbia, Ky.
Source
newspapers
3. June 1, 1912* Other
Newspaper Excerpt
Complete Settlement. Mr. L. C. Winfrey, who is the receiver of the late Citizens Bank ... has made a complete settlement with all the depositors, paying them dollar for dollar
Source
newspapers

Newspaper Articles (5)
1. September 27, 1911 The Adair County News Columbia, KY
Article from The Adair County News, September 27, 1911

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Article Text

Citizens Bank Closes Its Doors. I The Citizens Bank which was organized in this place five years ago, suspended business and closed its doors last Friday. The President, Mr. J. H. Young, notified the Secretary of State, and an examiner is in charge this week with the view of ascertaining the exact status, of the Bank's business. When he concludes his work he will make a report and a receiver will be appointed to wind up the affairs of the institution. The examiner refuses to give out a statement of progress of his work, hence it is imposible for outsiders to konw anything about it. It is hoped that the suspension will not seriously hurt depositors, and that in a short time the public will be made acpuainted with the status of its affairs. The Assistant cashier, W. A Coffey, says he feels sure that the depositors will be paid.

2. October 3, 1911 The Stanford Interior Journal Stanford, KY
Article from The Stanford Interior Journal, October 3, 1911

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Article Text

A dispatch from Frankfort says The stockholders of the Citizens' Bank of Columbia may have to be assessed 100 per cent in order to pay the depositors of that bank. Secretary of State Bruner received this report from Bank Examiner J. A. Frazyer, and upon receipt of this information Secretary Bruner immediately asked for a receiver for he bank. Frazyer's report is to the ffect that the affairs of the bank are in a bad condition.

3. October 4, 1911 The Adair County News Columbia, KY
Article from The Adair County News, October 4, 1911

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Article Text

Important.Notice. All persons, firms and corporations, having done business with the Citizens Bank, Columbin, Ky., and not having had a complete settlement therewith. are requested to bring or send to me their Pass Books, that their accounts may be balanced up and returned together with their olo checks, and if you have overdrawn you will know it, and if you have money to your credit you will know i. The Bank will be opened Tuesday, Oct 3, 1911. for the purpose of winding up and settling the business of said institution, and of all persons owing said note, overdraft or indebted to it in any way will please make ar rangements to meet same as early as you can do so, Oct. 2," 1911. L. C. Winfrey, Receiver Citizens Bank, Columbia, Ky.

4. October 11, 1911 The Adair County News Columbia, KY
Article from The Adair County News, October 11, 1911

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Article Text

Important Notice. All persons, firms and corporations, having done business with the Citizens Bank, Columbia, Ky., and not having had a complete settlement therewith, are requested to bring or send to me their Pass Books, that their accounts may be balanced up and returned together with their old checks, and if you have overdrawn you will know it, and if you have money to your credit you will know i. The Bank will be opened Tuesday, Oct. 3, 1911, for the purpose of winding up and settling the business of said institution, and of all persons owing said note, overdraft or indebted to it in any way will please make ar rangements to meet same as early as you can do so, Oct. 2," 1911. L. C. Winfrey, Receiver Citizens Bank, Columbia, Ky.

5. June 5, 1912 The Adair County News Columbia, KY
Article from The Adair County News, June 5, 1912

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Article Text

Complete Settlement. Mr. L. C. Winfrey, who is the receiver of the late Citizens Bank, this place, has made a complete settlement with all the depositors, paying them dollar for dollar, and all other indebtedness of the bank. He has yet about $15,000.0r $16,000 in notes and overdrafts in his hands which he will collect and pay over to the stock holders. This certainly speaks well for Mr. Winfrey as a business man, and it is also a credit to the officers of the bank. When an institution fails and every dollar is paid to creditors, it is certainly an evidence of no wrong intention. This full settlement was made in eight months to the day.