Beaver Valley State Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: August 13, 1931
Location: Weeksbury, Kentucky (37.328, -82.688)

Metadata

Model: gpt-5-mini
Short Digest: 7bde76d2

Response Measures

Full suspension

Other: Bank closed/suspended by board after withdrawals; assets and deposit figures reported with OCR errors corrected (e.g., $100.00 likely $100,000 deposits).

Description

Article reports a run (approx. $10,000 withdrawn after the nearby Bank of Wayland closed) which led the Beaver Valley State Bank to suspend business and fail to open on Monday. The report gives no indication of reopening; classified as run -> suspension -> closure.

Events (2)

1. August 13, 1931 Run

Cause: Local Banks
Cause Details: Withdrawals (~$10,000) triggered by closure of the Bank of Wayland in the same county.
Measures: Board of directors met and suspended business to protect the bank's assets.
Newspaper Excerpt: The Beaver Valley State bank at Weeksbury, Floyd county, failed to open the doors Monday as the result of withdrawal of approximately $10,000 in deposits since last Thursday when the Bank of Wayland, at Wayland, Floyd county, closed.
Source: newspapers

2. August 13, 1931 Suspension

Cause: Local Banks
Cause Details: Suspension followed heavy withdrawals prompted by the nearby Bank of Wayland's closure.
Newspaper Excerpt: Business was suspended, he said, after a meeting of the board of directors early Monday, in order to protect the bank's assets.
Source: newspapers

Newspaper Articles (1)

1. August 14, 1931 The Kentuckian-Citizen Paris, KY

Article from The Kentuckian-Citizen, August 14, 1931

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Article Text

Floyd County Bank IS CLOSED FOLLOWING HEAVY RUN Prestonsburg. Ky., Aug. 13 -The Beaver Valley State bank at Weeksbury, Floyd county, failed to open the doors Monday as the result of withdrawal of approximately $10,000 in deposits since last Thursday when the Bank of Wayland, at Wayland, Floyd county, closed. According to Carl D. Fraim, cashier of the bank. the run was solely responsible for the bank's failing. Business was suspended, he said, after a meeting of the board of directors early Monday, in order to protect the bank's assets. Dr. T T. Webb, Weeksbury. is president of the bank. Its assets at the time it closed, Mr. French said, were $150,000. with $100.00 deposits The bank was organized in 1918.