7269. Guaranty Bank & Trust Company (Lexington, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
August 22, 1931
Location
Lexington, Kentucky (37.989, -84.478)

Metadata

Model
gpt-5-mini
Short Digest
0095cae3

Response Measures

None

Description

Multiple contemporary reports state the Guaranty Bank & Trust Company of Lexington has been taken over by the Citizens Bank & Trust Company (Aug 22–26, 1931). Articles indicate it was taken over/assumed by another bank under supervision of state banking authorities; no run or depositor crowding is described in these items. Date used is the article date when takeover is reported. Cause not specified in the articles, so marked as 'other'.

Events (1)
1. August 22, 1931 Suspension
Cause Details
Article reports the bank has been taken over by Citizens Bank & Trust under state banking supervision; no explicit cause (no run described).
Newspaper Excerpt
Another one, the Guaranty Bank & Trust Company, of Lexington, has been taken over by the Citizens Bank & Trust Company under the presidency of W. A. Dicken, former state banking commissioner.
Source
newspapers

Newspaper Articles (6)
1. August 23, 1931 The Harlan Daily Enterprise Harlan, KY
Article from The Harlan Daily Enterprise, August 23, 1931

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Article Text

UNDER THE DOME OF THE CAPITOL By DWIGHT L. PITKIN. Associated Press Staff Writer. Frankfort, Ky., Aug. 22 (AP) The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commisioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville tomorrow of the re-organized Louisville Trust Company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of the crash in Louisville last Nov. 17. Another one, the Guaranty Bank & Trust Company, of Lexington, has been taken over by the Citizens Bank & Trust Company under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan. 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the re-organized Louisville Trust Company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929, will be $8,816,846 after the re-opening of the Louisville Trust Company. All but nine of these state bank suspensions date after the closing of the Louisville Trust Company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking departments statisties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Banks that closed prior to November have been or are being liguidated. Kentucky's Tourist Trade. Geoffrey Morgan, acting executive secretary of the Kentucky Progress Commission, attributes the increase in gasoline consumption in Kentucky this year to the Progress Commission's efforts in advertising the state's tourist attractions. The first six months of this year showed an increase in gasoline taxes of $180,178.03 over the same period last year. "It certainly pays to advertise," said Mr. Morgan, citing these statistics. "Take the figures for January. The tax commission showed gasoline taxes collected in January of this year totaled $620,88550 as compared with $503,046.73 for January of 1930. That is an enormous difference. The reason for it is this: We had an open winter the first of this year. So the tourists in Florida began flocking home. We had been advertising Kentucky among the tourists and the result was many of these tourists returned northward by way of Kentucky."

2. August 23, 1931 Henderson Morning Gleaner Henderson, KY
Article from Henderson Morning Gleaner, August 23, 1931

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Under the Dome of the Capitol The banking situation in Kentucky is beginning to take on a bright as pect, in the opinion of C.S. Wilson, state banking commissioner Rural banks have been replenish ed, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco erop." Reopening in Louisville tomorrow of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last November 17. Another one, the Guaranty Bank and Trust company of Lex ington, has been taken over by the Citizens Bank and Trust company under the presidency of W A Dicken, former state banking com missioner Thirty banks and trust companies, under the supervision of the state banking department. have been suspended since January 1. 1929. The gross deposit liabilities of these institutions totaled $29, 087,437 Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677 The re-opening of the re-organized Louisville Trust company is pected to release gross deposit lia bilities of $13,869,914. This would make a total of gross deposit liabilIties released of $20,270,591 The state banking department estimates that amount of gross deposit liabilities of state banks in spspension from the period beginning January 1, 1929. will be $8,816,486 after the re-opening of the Louisville Trust All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November Lia bilities of the National Bank of Kentucky are not included in the state banking department's statis ties as it was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend Banks that closed prior to No vember have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank and Trust company 862: Hargis Bank and Trust company, Jackson, February 5. 1930. $554,368: Grayson County Bank Leitchfield. March 10. 1930. $357, 254: the Peoples bank. Mt. Vernon, April 22. 1930. $260,855: LaGrange Bank and Trust company. La Grange, May 26. 1930. $352,232: Bank of Russellville, Russellville, June 12, 1930. $183,660; Hazel Green bank. Hazel Green, June 30. 1930. $184,054; Elsmere Savings bank, Erlanger, July 3. 1930. $192. 870: Vine Grove State bank, Vine Grove, $91,464 The banks that have re-opened since November of last year in clude the Security bank, Louisville, with approximate gross deposit lia bilities of $1,996,001 It was able to open for business a few days after November 17. Other banks, with their gross deposit liabilities, that have reopened are: McElwainMcGuire Bank and Trust company, Franklin, $373,509; Bank of St. Helens, Shivley, $412,834: Peoples bank, Sulphur, $132,950; Bank of Crestwood State bank, Crestwood, $139,297 Fern Creek bank, Bue ton. $292,638: Bank of Sturgis, Sturgis, $256,463 Two negro banks, the First Standard bank and the American Mutual Savings bank, which closed in Louisville November 17. were later consolidated into the Mutual Standard bank. The bank result ing from the merger closed May 7 of this year and is being liquidated. Liquidating agents have been appointed for the following banks closed since November: Owsley County bang, Beoneville, $100,329: Union Central bank, Louisville, $503,578: Bankers Trust company, Louisville, $553,279. Hopkins County bank, Madisonville, $717,587: Woodbury Deposit bank, Woodbury, $37,693; Citizens Bank and Trust company, Middlesboro, $495,977: Webster County bank, Clay, $164, 676; Bank of Ludlow, Ludlow, $636,359; Bank of Hardinsburg and Trust company, Hardinsburg. $523.381. Liquidating agents have not been appointed for five state banks which have closed since the first of July. These banks are: Citizens

3. August 23, 1931 The Paducah Sun Paducah, KY
Article from The Paducah Sun, August 23, 1931

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Article Text

Under the Dome of The State Capitol By DWIGHT L. PITKIN Associated Press Staff Writer FRANKFORT, KY., Aug. 22 (AP) -The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenished, he said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year. The crop was of excellent quality. "What's needed now." remarked Commissioner Wilson, "is a good price for the tobacco crop." Reopening in Louisville Monday of the re-organized Louisville Trust company will be the ninth state bank that has re-opened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last Nov. 7. Another one, the Guaranty Bank & Trust company of Lexington, has been taken over by the Citizens Bank and Trust under the presidency of W. A. Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department, have been suspended since Jan 1, 1929. The gross deposit liabilities of these institutions totaled $29,087,437. Of the banks re-opened or liabilities assumed, the gross deposit liabilities totaled $6,410,677. The re-opening of the reorganized Louisville Trust company is expected to release gross deposit liabilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning Jan. 1, 1929 will be $8,816,846 after the re-opening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as was under the supervision of the federal banking department. The National Bank of Kentucky has already paid a 67 per cent dividend. Liquidate Closed Banks. Banks that closed prior to November have been or are being liquidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust Company, Hickman, Dec. 30, 1929, Hargis Bank & Trust company, $59,826; Hargis Bank & Trust company, Jackson, Feb. 5, 1930, $554,368; Grayson County bank, Leitchfield, March 10, 1930, $357,254; the Peoples Bank, Mt. Vernon, April 22, 1930, $260,855; LaGrange Bank and Trust company, LaGrange, May 25, 1930, $352,232; Bank of Russellville, Russellville, June 12, 1930, $183,660; Hazel Green bank, Hazel Green, June 30, 1930, $184,054; Elsmere Savings bank, Vine Grove, $91,464. The banks that have re-opened since November of last year include the Security Bank, Louisville with approximate gross deposit liabilities of $1,996,001. It was able to open for business a few days after Nov. 17. Other banks with their gross deposits liabilities, that have reopened are: McElwain-McGuiar Bank & Trust Co., Franklin, $373,509; Bank of St. Helens, Shively, $412,824; Peoples bank, Sulphur, $132,950; Bank of Caneyville, Caneyville, $318,216; Crestwood State bank, Crestwood, $139,297; Fern Creek bank, Buechel, $151,279; Farmers Bank, Fulton, $292,638; Bank of Sturgis, Sturgis, $256,463. Two Negro banks, the First Standard bank and the American Mutual Savings bank, which closed

4. August 23, 1931 The Lexington Herald Lexington, KY
Article from The Lexington Herald, August 23, 1931

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Capitol Sidelights Ky., Aug. banking situation in Kentucky beginning take brighter aspect, in the of banking Rural banks have been replenished, said, by bumper lamb brought much needed cash. were fewer sheep Kentucky farms this year, but the number lambs raised per 100 greater than last year. crop excellent quality. remarked Commissioner Wilson, good price for the tobacco Reopening Louisville Monday the Louisville Trust Company will be the ninth state bank that has reopened out of the group that their doors assets wake the Louisville November Another one, the Guaranty Bank and Trust Company of Lexington, been taken by the Citizens Trust Company under presidency of Dicken, state banks and trust under the supervision the banking department, have been suspended since The gross deposit liabilities these totaled $29,Of the banks reopened liabilities the gross liabilities $6,410,677 The reopening the reorganized Louisville Trust Company pected to release gross deposit liabilities $13,859,914. This would make total gross deposit lia. bilities $20,270,591. The state banking estimates that amount of gross deposit liabilities of state banks suspension from the period beginning January 1929 will be $8,816,846 after the reopening of the Louisville Trust Company. All but nine of these state bank date after the closing the Louisville Trust Company and the National Bank of Kentucky last Liabilities of the Bank of Kentucky are not included the state statisthe supervision the federal department. Bank Kentucky ready has paid per cent dividend. Banks that closed prior to Novembeing liquidated. These banks with date of their closing and their gross posit liabilities listed here: Bank and Trust Company, Hickman, December 30, 1929, 862; Hargis Bank and Trust Company, Jackson, February 1830, Grayson County Bank, Leitchfield, March 10, 1930, the Peoples Bank, Vernon, April 1930, $260,855; LaGrange Bank Trust Company, LaGrange, May 26, $352,232; Bank of Russellville, June 12, 1930, Hazel Green Bank, Hazel Green, June 1930, Savings Bank, Erlanger, July 1930, $192,870; Vine Grove State Bank, Vine Grove, $91,464. The banks that have reopened November year include the Security Bank, Louisville, with approximate deposit liabilities $1,996,001. able open for business days after November Other banks, with their gross deposit liabilities, that have reopened Bank and Trust Company, Franklin, Bank of Helens, ShivePeoples Bank, Sulphur, $132,950; Bank Caneyville, Caney$318,216 Crestwood State Bank, Crestwood, $139,297; Fern Creek Bank, Buechel, Farmers Bank, Fulton, and Bank Sturgis, Sturgis, negro banks, the First StandBank the American Savings Bank, which closed in Louisville November later consolidated into the Mutual Standbank. The bank resulting from the closed May this merger year being Liquiagents been appointed for the closed since November: Owsley County Bank, Booneville, Union Central Bank, Louisville, $503,578: Bankers Trust Company, Louisville, $553,279: Hopkins Bank, Madiposite Bank, Woodbury, $37,693; Citizens Bank and Trust County Bank, Clay, $164,676; Bank Ludlow, Ludlow, Bank Hardinsburg and Trust Company, Hardinsburg, $523,381 not been appointed five banks which have the first July. These Citizens Bank, Drakesboro, Bank Barlow, Barlow, Butler Deposit Bank, Butler, Bank Wayland, Valley State Bank, Veaksbury, $113,269. McNeal served plate lunch. The first prizes the two days Mrs. Edith Bigstaff and Charles and the consolation prizes drawn Winchester, and Mrs. Gates, of IndianapMrs. McNeal's parties bered tables each day and the out-of-town guests were: Mrs. Hampton Bush, Mrs. Birkhead, Mrs. Steve Davis, Mrs. Floyd Clay. Mrs. Riffe Hodgkin, Mrs. Jack Hutsell, all of Winchester, Gates, of Indianapolis. James McNeal will leave Frinight Sulphur Springs attend convention of and officials. Miss Helen Triplett in Winchester visit her grandmother, Mrs. Mattie Baird, and her aunt, Mrs. Charles Lee Bush.

5. August 24, 1931 The Kentucky Post Covington, KY
Article from The Kentucky Post, August 24, 1931

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PAGE BANK OUTLOOK CALLED BRIGHT Bumper Lamb Crop to Aid State Institutions COMMISSIONER REPORTS Good Price for Tobacco Needed Now, He Says FRANKFORT KY. Aug. Kentucky's banking situation has begun to take on bright aspect. That is the opinion expressed by S. Wilson, state banking com A bumper lamb crop that brought in cash has helped replenish rural banks, Wilson said Kentucky farms had fewer sheep but the number lambs raised per 100 greater than last year Excellent quality found in the crop. "What's remarked Wilson good price for the tobacco crop. Reopened Reopening Louisville today of the reorganized Louisville Trust Co. will be the ninth bank has reopened out of the group that closed their assets wake of the in Louisville Nov Another one, the Guaranty Bank Trust Lexington, has been taken over by the Citizens' Bank Trust under the presidency of W. Dicken. former state Thirty-seven banks and trust the the State Banking have been 1929 The gross of these totaled 437 or the banks reopened or liabilities sumed, gross deposit liabilities totaled Reopening of the reorganized Co. expected gross liabilities $13,859,914 make toliabilities released $20,270,591 The State Banking Department that amount gross deposit liabilities state will be the reopening of the Co. All But Nine All but nine of these state bank date after the closing the Trust Co. and the National Bank of Louisville last November. Liabilities of the National Bank of Kentucky are not included in the State Bankunder the supervision the Federal Banking Department. The National Bank Kentucky already has paid 67 per cent dividend Banks that were closed before November been or are being These with and their gross deposit liabilities, Hickman Bank Hickman, Dec 30, 1929 $595,862 Hargis Bank Co. Jackson Feb. $554,368 Grayson-co Leitchfield March 10. 1930, $357,254 Peoples Bank, Mt Vernon, April 1930, $260,855 Grange Bank Grange, May 26, 1930. $352,232; Bank of RusGreen 1930 $184,054: Elsmere Savings Grove State Bank, Vine Grove, $91,464. Others Come Back The banks that have been opened last year include the Security Bank. able open for few days after Other banks, their gross deposit liabilities, that been reopened Bank & Trust Bank of Helens, Shively $412,824 Peoples Grestwood State Bank Crestwood $139,297 Creek Bank Buechel $292,638; Bank of Sturgis Sturgis $256,463. Two Negro banks, the First Standard Bank and Muutal which Louisville later solidated into the Mutual Standard Bank. The from merger closed this year being liquidated. Liquidating agents have for the following banks closed since Novem Agents Not Named Bank, $100. 328 Union Bank, $503,578 Bankers Trust Co. Louisville $553,279 Hopkins-co Bank, Madisonville $717,587 bury Deposit Bank, Woodbury $37 Citizens Bank Trust Middlesboro, $495,977 Bank, Clay, $164,676 Bank of Ludlow, Ludlow $636,359 Bank of Har dinsburg & Trust Co. Hardinsburg Liquidating agents have not been appointed for five state banks that closed since the 1st These banks Bank Bank of Barlow, Barlow Deposit Bank, Butler Wayland Beaver State Bank, Weaksbury, $113,269.

6. August 26, 1931 Messenger-Inquirer Owensboro, KY
Article from Messenger-Inquirer, August 26, 1931

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KENTUCKY BANK SITUATION TAKES BETTER ASPECT Lamb Crop Aided Rural Institutions BY DWIGHT L. PITKIN (Associated Press Staff Writer) Frankfort, Ky., Aug. 26. (P)-The banking situation in Kentucky is beginning to take on a brighter aspect, in the opinion of C. S. Wilson, state banking commissioner. Rural banks have been replenishhe said, by a bumper lamb crop which brought in much needed cash. There were fewer sheep on Kentucky farms this year but the number of lambs raised per 100 ewes was greater than last year The crop was of excellent quality "What's needed now," remarked Commissioner Wilson, "is a good price for the tobacco crop." Louisville Trust to Reopen Reopening in Louisville Monday of the reorganized Louisville Trust company was the ninth state bank that has reopened out of the group that closed their doors to conserve assets in the wake of crash in Louisville last No ember 17. Another one, the Guaranty Bank & Trust company of Lexington. has been taken over by the Citizens Bank and Trust company under the residency of W. A Dicken, former state banking commissioner. Thirty-seven banks and trust companies, under the supervision of the state banking department have been suspended since January 1, 1929. The gross deposit liabilities of these Institutions totaled $29, 087 437. Of the banks reopened or liabilities assumed, the gross deposit liabilities totaled $6,410.677 The reopening of the reorganized Louisville Trust company is ex. pected to release gross deposit lia. bilities of $13,859,914. This would make a total of gross deposit liabilities released of $20,270,591. The state banking department estimates that amount of gross deposit liabilities of state banks in suspension from the period beginning January 1, 1929. will be $8,816,846 after the reopening of the Louisville Trust company. All but nine of these state bank suspensions date after the closing of the Louisville Trust company and the National Bank of Kentucky in Louisville last November. Liabilities of the National Bank of Kentucky are not included in the state banking department's statistics as it was under the supervision of the federal banking department The National Bank of Kentucky has already pald a 67 per cent dividend. Closed Banks Being Liquidated Banks that closed prior to November have been or are being liq. uidated. These banks with the date of their closing and their gross deposit liabilities are listed here: Hickman Bank & Trust company 862: Hargis Bank & Trust company, Jackson. February 5, 1930. $554,368; Grayson County bank, Leitchfield, March 10, 1930. $357.254; the Peoples bank, Mr. Vernon. April 22 1930, $260,855: LaGrange Bank and Trust company. LaGrange, May 26. 1930. $352,232;