First State Bank - Ekron, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 4, 1911
Location: Ekron, Kentucky (37.929, -86.179)

Metadata

Model: gpt-5-mini
Short Digest: 79b3257b

Response Measures

None

Description

Article (Breckenridge News, 1911-01-04) reports First State Bank at Ekron closed its doors and a receiver (M. H. Beard) was appointed. Cause given as overloans and slow collections. Dates are taken from the newspaper date; suspension described as permanent closure with receiver appointed. Receiver appointment timing is described in sequence in the article; I set suspension to the paper date and receiver to the following day.

Events (2)

1. January 4, 1911 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Overloans and slow collections led the bank to be unable to continue business.
Newspaper Excerpt: On Wednesday The First State Bank at Ekron, closed its doors, unable to continue business.
Source: newspapers

2. January 5, 1911 Receivership

Newspaper Excerpt: M. H. Beard, Cashier of The Bank of Hardinsburg & Trust Co., was appointed Receiver and qualified and took charge of the bank on the succeeding day.
Source: newspapers

Newspaper Articles (1)

1. January 4, 1911 The Breckenridge News Hardinsburg, Cloverport, KY

Article from The Breckenridge News, January 4, 1911

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Article Text

EKRON BANK Closed Doors-Depositors to Get Their Молеу---Мг. Beard Named as Receiver May Reorganize. On Wednesday The First State Bank at Ekron, closed its doors, unable to continue business. Tuesday night at Brandenburg a suit was filed against the bank by O. C. Richardson, creditor, stockholder and vice-president of the bank, asking that a Receiver be appointed to take charge of the bank. Thursday at Elizabethtown, the plaintiff, Claude Mercer, made a motion before Judg Chelf, asking the appointment of a Receiver and the motion was sustained and M. H. Beard, Cashier of The Bank of Hardinsburg & Trust Co., was appointed Receiver and qualified and took charge of the bank on the succeeding day. The liabilities of the bank, exclusive of $15,000 capital stock, are approximately $30,000 and the assets are\nominally about $40,000. The depositors will be paid in full, but whether such can be done without an assessment against the stockholders remains to be seen. Overloans and slow callections are the primary causes of the suspension. A movement is on foot to a reorganization of the bank. Doubtless at some time another bank will be opened at that point as it is in a fine community of good, substantial farmers.