7476. Wilmore Deposit Bank (Wilmore, KY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 13, 1926
Location
Wilmore, Kentucky (37.862, -84.662)

Metadata

Model
gpt-5-mini
Short Digest
24ce1a08

Response Measures

None

Description

The bank voluntarily suspended business on advice of the State Banking Department (April 13, 1926) and reopened after stockholders assessed 100% on capital stock. No run or depositor panic is described; reopening articles report deposits increasing after resumption. Some later AP dispatches (Aug 22) repeat reopening news, but local reports show reopening in May (May 11-12, 1926).

Events (2)

1. April 13, 1926 Suspension
Cause
Government Action
Cause Details
Voluntary suspension on advice of the State Banking Commissioner following a regular examination; stockholders later assessed capital to meet requirements.
Newspaper Excerpt
The bank voluntarily closed on April 13 on advice of the banking commissioner, following its regular examination
Source
newspapers
2. May 11, 1926 Reopening
Newspaper Excerpt
Wilmore Deposit Bank ... reopened its doors for business. The opening of the bank accomplished the stockholders making an assessment and voluntarily paying 100 per cent of their stock which amounted to $75,000 cash. ... Within few hours after reopening the bank's had increased more than $25,000, with no withdrawals. (May 11-12, 1926 reports).
Source
newspapers

Newspaper Articles (7)

Article from Lexington Herald-Leader, May 12, 1926

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Article Text

WILMORE DEPOSIT BANK REOPENS. MONEY ROLLS Citizens Gather to Wish Officers Success and Thank Them for Efforts Which Brought About Resumption of Business: Deputy State Commissioner Praises Procedure. Phillips, deputy State banking in Lexington afternoon on his way from and the Deposit Bank reopened its doors for Mr. Phillips gave out the following statement: Wilmore Deposit Bank, Wilmore, reopened its doors for this quirements met holders an assessment 100 per cent the capital stock to bank voluntarily closed on April banking its regular examination by Phillips, banking and Shanks and Coons, examofficers and the great promptly their coming the their their funds from being tied up liquidation. At the same the their confi dence displaying criticising officers since the bank suspended business. large crowd hand officers thank for their efforts which brought about the reopening of the bank. Short talks were made the headed pastor the local Methodist church. few hours reopening than with organized in 1900 and since time confidence the public, time The Gaugh. and George Evans, Lowry, Curd and George M. Jewell, directors.


Article from The Lexington Herald, May 13, 1926

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Article Text

WILMORE BANK Resumption of Business Is Made Possible by Voluntary Assessment of 100 Per Cent From Stockholders DEPOSITS COMING IN FAST [Special The Herald] Ky., May 11. Deposit bank, which closed a few weeks ago for voluntary liquidation, reopened its doors at o'clock this morning and sumed business. The opening of the bank accomplished the stockholders making an assessment and voluntarily paying 100 per cent of their stock which amounted to $75,000 cash. The bank will be conducted under the original name of Wilmore Deposit bank with James M. Lowry, president; S. Lowry, vice-president, and Gaugh, cashier. The bank was organized in 1900. S. A. Phillips of the state banking department, was present today to check over the funds collected. The bank has met all the require ments of state banking department, Phillips declared. Mr. Phillips in statement today said, "The bank voluntarily closed on April 13 on advice of the banking commissioner, following its reg. ular examination by S. A. Phillips, deputy banking and H. H. Shanks and W. L. Coons, examiners. "The officers and stockholders of the deserve great deal of credit in promptly responding to their duty coming to the rescue of their depositors in preventing their funds being tied up in liquidation. At the same time the depositors shown their confi dence by displaying excitement or criticising officers since the bank suspended business. "A large of citizens was on hand to wish the officers success and thank for efforts which about the reopening of the bank. Short talks were made by the com mittee, headed by the Rev. O. pastor the local Metho dist "Within few hours after reopening the bank's had in. creased more than $25,000, with no withdrawals."


Article from The State Journal, August 22, 1926

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Article Text

Not Yet But Probably either on this side or in New years, that Mr. Morgan, after an Atlantic crossing, escaped at least an endeavor to wrest few words from him on world finance or something. More than two million pounds year is spent on drugs in this country. Sir Walter controller of says the insurance department of the Ministry of Health. and that is one of the most disheartening things in connection with the administration of insurance act. Sir Watler asserts that*there great wastage of money on drugs and that unless some diminution occurred efficient administrative arrangements would be necessary to check that expenditure. Investigations concerning diets for (Continued on Page Five.) year. Only 174 votes were cast. Ernest Rowe. Owensboro, received 128 votes the county. There are 51 the county. Five Kentucky cities are listed in federal report showing the number deaths of infants under one year of age for 1,000 births. white and negro. The list tabulated cities of more than 10,000 population having either not less than 10 percent or 10,000 negro population. Louisville had 67.1 deaths among white infants for 1,000 births; 99.3 Lexington, 78.9 white: 178.9 negro. negro. 81.1 142.9 negro. 88 white: 327.9 negro. Owensboro, white: 142.9 negro. The Wilmore Deposit Bank, Wilmore, Jessamine county, ras reopenits doors for business. All requirements of State Banking Department were met by the stockholders by payment of an assessment of 100 percent on the capital stock, amounting to $100,000. The bank voluntarily suspended business in April upon advice of the banking department. Within few hours after reopening, the bank had increased its deposits by more than $25,000. The bank was originally organized in 1900 and at the time suspended business had deposits of $320,000. The state banking department has aproved the eittion of the Florence Deposit Bank. Florence, Boone counto increase its capital stock from $15,000 to $35,000 and to extend its charter for period of 50 years from July 1926. Articles of incorporation have filed for the Farmers State tal of $60,000. Incorporators are Reynolds, B. Barkley and Ben Harbeson. The State National Bank of Frank fort and County Agent R. distributed 35,000 pure bred eggs Franklin county farmers the on turn pullet plan. Pullets will be livered to the bank to pay for the eggs, the farmers keeping enough to make foundations for good flocks. Depositors of the defunct Citizens Bank, Stamping Ground. Scott which closed its doors July 1924. have received their distributions making 100 percent they have received. The stockholders will realize about percent on their stock.


Article from Henderson Morning Gleaner, August 22, 1926

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Article Text

WILMORE BANK RE OPENED All Requirements of State Commission Have Been Complied With sociated The Wilmore De posit Bank Wilmore, Jessamine county, has reopened its doors for business All requirements of the State Banking Department were met by the stockholders by pay ment of an assessment of 100 per cent on the capital stock, amount ing to $100,000 The bank voluntarily suspended business in April upon advice of the banking department. Withu a few hours after reopening, the bank had increased its deposits by more than $25,000 The bank wos origin ally organized in 1900 and at the time It suspended business It had deposits of $320,000 The state banking department has approved the petition of the Florence Deposit Bank Florence, Boone county, to increase its cap Ital stock from $15,000 to $35,000 and to extend Its charter for a perfod of 50 years from July 1, Articels incorporation have been filed for the Farmers State Bank Augusta, Bracken with a capital of $60,000 Incorpor ators are G. T. Reynolds, B. Barkley and Ben Harbeson. The State National Bank of Frankfort and County Agent R. M Heath have distributed 35,000 pure bred eggs to Franklin county afris on the return pullet plan. Put lets will be delivered to the bank to pay for the eggs, the farmers keeping enough to make founda tions for good flocks Depositors of the defunct Citi county, which closed its doors July distributions, making 100 percent they have received The stock holders will realize about 25 per cent on their stock The Kentucky Bankers' Associa tion makes the report


Article from The Daily Independent, August 23, 1926

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Article Text

WILMORE DEPOSIT BANK IS REOPENFD Requirements Of State Banking Department Met By Stockholders By Assessment Payment On Capital Stock. Louisville, Aug. 22 (AP) The Wilmore Deposit Bank, Wilmore, Jessamine county, has reopened its doors for business. All requirements of the State Banking Department were met by the stockholders by payment of an assessment of 100 per-cent on the capital stock, amounting to $100,000. The bank voluntarily suspended business in April upon advice of the banking department. Within a few hours after reopening, the bank had increased its deposits by more than $25,000. The bank was originally organized in 1900 and at the time it suspended business it had deposits of $320,000. The state banking department has approved of the petition of the Florence Deposit Bank, Florence, Boone county, to increase its capital stock from $15,000 to $35,000 and to extend its charter for a period of 50 years from July 1, 1926. Articles of incorporation have been filed for the Farmers State Bank, Augusta, Bracken county, with a capital of $60,000. Incorporators are G. T. Reynolds, B. F. Barkley and Ben Habeson. 8he State National Bank of Frankfort and County Agent R. M. Heath have distributed 35,000 pure bred eggs to Franklin county farmers on the return pullet plan. Pul-


Article from The Park City Daily News, August 24, 1926

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WILMORE DEPOSIT BANK OPEN AGAIN AFTER SHUT-DOWN Jessamine County Bank Reopens Doors and Is Doing Business LOUISVILLE. August Associated Press The Wilmore Deposit Bank, Wilmore, Jessamine county, has reopened its doors for business. All requirement of the State Banking Department were met by the stockholders by payment of an assessment of 100 percent on the capital stock, amount ing to $100,000 The bank voluntarily suspended business in April upon advice 01 the banking department. Within a few hours after reopening, the bank had increased its deposits by more than $25,000. The bank was originally organized in 1900 and at the time it suspended business it had deposits of $320,000. The state banking department has approved the petition of the Boone county. to increase its eapital stock from $15,000 to $35,000 and to extend its charter for period of 50 years from July 1, 1926. Articles of incorporation have been filed for the Farmers State Bank, Augusta, Bracken county, with a capital of $60,000. Incorporators are G. T. Reynolds, B. F. Barkley and Ben Harberson. The State National Bank of Frankfort and County Agent R M. Heath have distributed 35,000 pure bred eggs to Franklin county farmers on the return pullet plan. Pullets will be delivered to the bank to pay for the eggs, the farmers keeping enough to make foundations for good flocks Depositors of the defunct Citizens Bank, Stamping Ground. Scott county. which closed its doors July 1924. have received their final distributions, making 100 percent they have received. The stockholders will realize about 25 percent on their stock. The Kentucky Bankers' Association makes the report


Article from The Owensboro Messenger, August 24, 1926

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Article Text

Suspended Bank Reopens, Deposits Increase $25,000 Louisville. Aug. 23.-The Wilmore Deposit bank, Wilmore, Jessamine county, has reopened its doors for business. requirement of the state banking department were met by the stockholders by payment of an assessment