Farmers State Bank - Greenville, KY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 30, 1932
Location: Greenville, Kentucky (37.201, -87.179)

Metadata

Model: gpt-5-mini
Short Digest: 85811496

Response Measures

None

Description

Article (The Owensboro Messenger, 1932-04-30) reports the First National Bank of Greenville 'has taken over the affairs of the Farmers State bank' and has placed to the credit of each depositor the full amount due and will pay accounts — indicating Farmers State closed and was taken over rather than merely suspending and later reopening. No run is described. The takeover appears arranged with another bank to satisfy depositors, consistent with a voluntary takeover/liquidation rather than a government receivership.

Events (1)

1. April 30, 1932 Suspension

Cause: Voluntary Liquidation
Cause Details: Farmers State Bank arranged with First National Bank of Greenville to pay and satisfy all of its depositors; First National took over affairs and credited depositors, indicating an arranged takeover/liquidation.
Newspaper Excerpt: The First National bank has on its books placed to the credit of each depositor the said Farmers State bank the full amount shown by the books said Farmers State bank to be due such depositors, and will pay accounts subject check on demand and time deposits as they mature.
Source: newspapers

Newspaper Articles (1)

1. April 30, 1932 The Owensboro Messenger Owensboro, KY

Article from The Owensboro Messenger, April 30, 1932

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Article Text

BANK GREENVILLE First National Takes Over Farmers State; Statements Made By Officials. Greenville. Ky., April Greenville has but one bank. the First National, one of the strongest in Western Kentucky, having taken over the only other bank in the city, the Farmers State bank. The following notice was given out for publication yesterday: "The Farmers State bank. of Greenville, arranged with the First National bank of Greenville pay and satisfy all of its depositors. The said First National bank has on its books placed to the credit of each depositor the said Farmers State bank the full amount shown by the books said Farmers State bank to be due such depositors, and will pay accounts subject check on mand and time deposits as they mature. Farmers State Bank of Greenville Kirkpatrick, president. "First Bank of Greenville, "By John Reynolds, president." John gave this this afternoon: bank has taken over the affairs of the Farmers State bank and the its depositors. Our ability to the public thereby greatly increased. We have remodeled banking room, have constructed modern vault and installed the newest and most improved safety boxes convenience and safety of our customers. greet old customers of the Farmers State bank our customers and friends with gladness assure them same courteous treatment they have heretofore received from bank. We have served others faithfully, we and will serve you faithfully. Come make our place your headquarters when in town. Inspect vault and safety boxes. Call on us when you need The Farmers State bank had capital and surplus of with in deposits, when taken over by the First National bank. The First National has capital stock $40,000. surplus and undivided profits and deposits At the close of business December the time of its last semi-annual statement the bank held Liberty bonds and other securities of and cash due from banks and treasury Its loans and account showed total of Officers of the bank are John Reynolds, president: Martin, chairman of the board: Chatham, and Paul Pace H. McPherson assistant cashiers; directors Martin, Chatham, M. Martin, Moore, Thomas Sumner, John Reynolds and M. L. Wickliffe.