Article states banks closed while planning consolidation; outcome (permanent closure vs. reorganization) not shown.
Events (1)
1.December 24, 1925Suspension
Cause
Voluntary Liquidation
Cause Details
Closed their doors while plans were in progress for consolidation with another local bank.
Newspaper Excerpt
Two Manly Banks Close; Plan Consolidation
Source
newspapers
Newspaper Articles (1)
1.December 24, 1925The Des Moines RegisterDes Moines, IA
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Article Text
Two Manly Banks Close; Plan Consolidation
Manly. Ia., Dec. Farmers and Merchants bank and the Farmers Savings bank pended business and closed their doors today while plans were in progress for consolidation
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.