7477. Wilmore Deposit Bank (Wilmore, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 27, 1933
Location
Wilmore, Kentucky (37.862, -84.662)

Metadata

Model
gpt-5-mini
Short Digest
5145c571

Response Measures

None

Description

The bank failed to open for business on Monday after the 1933 bank holiday (reported 1933-03-28). Articles state there had been no run since reopening after the holiday but 'steady withdrawals' caused the bank to close and a bank examiner was sent to take charge. Subsequent indictment of the commissioner in June refers to the bank's closing, suggesting it did not resume normal operations; therefore classified as suspension leading to closure. Bank type inferred as state (Deposit bank), but source does not explicitly state charter type.

Events (1)
1. March 27, 1933 Suspension
Cause Details
Steady withdrawals after reopening following the bank holiday; article explicitly states no run but steady withdrawals forced closure.
Newspaper Excerpt
The Wilmore Deposit Bank ... failed to open for business yesterday... According to the message there had been no run on the bank since it opened after the bank holiday but steady withdrawals caused the bank to close for the benefit of the depositors.
Source
newspapers

Newspaper Articles (3)
1. March 28, 1933 The State Journal Frankfort, KY
Article from The State Journal, March 28, 1933

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Article Text

WILMORE DEPOSIT BANK FAILS TO OPEN MONDAY The Wilmore Deposit Bank, of Willmore. failed Ro open for business yesterday. according to a message from the board of directors of the bank reinfasioner of Banking and Securities. The bank had capital of $50 000 and Peposits of: $170,306.93. James M Lowry was tta president. Mr. Dorman sent Jim, Ed Bond, bank examiner. to Wilmore, to take charge of the bank. According to the message there had been no run on the bank since it opened after the bank holiday but steady withdrawals caused the bank ER close for the benefit of the depos-

2. March 28, 1933 The Lexington Herald Lexington, KY
Article from The Lexington Herald, March 28, 1933

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Article Text

WILMORE BANK CLOSES [Special to The Herald] FRANKFORT, Ky., March The Wilmore Deposit Bank of Wilmore failed to open for business today, according message from the board of directors of the bank received by James R. Dorman, commissioner of banking and securities. The bank had capital of $50,000 and deposits of $170,306.93. James M. Lowry was its president. Mr. Dorman sent Jim Ed Bond, bank examiner, to Wilmore to take charge of the bank. According to the message, there had been no run on the bank since it opened after the bank holiday, but steady withdrawals caused the bank to close for the benefit of the depositors. Private banks in Uruguay have protested against a bill in Congress providing for a two-year debt moratorium.

3. June 15, 1933 Lexington Herald-Leader Lexington, KY
Article from Lexington Herald-Leader, June 15, 1933

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Article Text

DORMAN INDICTED BY JESSAMINE JURY BANK COMMISSIONER NAMED IN CONNECTION WITH WILMORE BANK CLOSING Special The Leader June James R. Dorman, under indictment in his official capacity state with the closing of the Wilmore posit motives for the charges against The indictment against man, returned by grand Wednesday, charges failure to close bank after knowing bills returned Gaugh, the Debank, and assistcashier, charging ceiving deposits after knowing Mr. actively supporting Circuit Judge Rodes Richmond, in his for reelection over liam Baxter, has candidacy for the judge's post. said the followed the the case of the Wilmore bank had done in gard to other cases. Following banking holiday, officials requested permission to State Bond, then made amination and bank was solvent and its capital impaired. On the strength of this report, Dorman had no option under the law other to for After the bank busihe said, there pleted the funds until the then the bank protect other depositors.