Peoples State Bank - Coushatta, LA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: July 20, 1923
Location: Coushatta, Louisiana (32.015, -93.342)

Metadata

Model: gpt-5-mini
Short Digest: 4b1a875e

Response Measures

Full suspension

Other: Bank officials closed the bank to protect depositors after a run; president had disappeared and personal property seized.

Description

Article (The Birmingham Age-Herald, 1923-07-21) reports a run began after the bank president I. C. Cole disappeared (July 2); officials then closed the bank July 20 to protect depositors. No reopening or receiver is mentioned; the disappearance of the president is bank-specific adverse information triggering the run and closure.

Events (2)

1. July 20, 1923 Run

Cause: Bank Specific Adverse Info
Cause Details: Run began after news that the bank's president, I. C. Cole, had disappeared (personal property seized); loss of confidence in management.
Measures: Officials closed the bank to protect depositors.
Newspaper Excerpt: The Peoples State bank here was closed today by its officials after a run which began when it became generally known that the authorities had been unable to find I. C. Cole, president of the institution, who disappeared July 2.
Source: newspapers

2. July 20, 1923 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank officials closed the bank following the run triggered by the disappearance of the president; closure presented as a protective measure. No receiver or reopening mentioned in the article.
Newspaper Excerpt: Officials of the bank declared it was solvent and that they had closed its doors to protect depositors.
Source: newspapers

Newspaper Articles (1)

1. July 21, 1923 The Birmingham Age-Herald Birmingham, AL

Article from The Birmingham Age-Herald, July 21, 1923

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Article Text

LOUISIANA BANK CLOSED Officials Declare Step Taken For Protection Of Depositors COUSHATTA, La., July 20.--The Peoples State bank here was closed today by its officials after a run which began when it became generally known that the authorities had been unable to find I. C. Cole, president of the institution, who disappeared July 2. Cole's personal property has been seized by the sheriff. Officials of the bank declared it was solvent and that they had closed its doors to protect depositors.