Verda State Bank - New Verda, LA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 8, 1913
Location: New Verda, Louisiana (31.692, -92.764)

Metadata

Model: gpt-5-mini
Short Digest: b5413e00

Response Measures

None

Description

Single article (The Colfax Chronicle, 1913-03-08) reports the Verda State Bank at New Verda liquidated and closed; accounts transferred to Winn Parish Bank and depositors to be paid in full. Closure described as due to insufficient business (voluntary liquidation), not a depositor run.

Events (1)

1. March 8, 1913 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank liquidated and closed because volume of business at New Verda was too small to maintain banking operations; accounts transferred to Winn Parish Bank.
Newspaper Excerpt: Verda State Bank Suspended. A note from Cashier J. Hugh Smith, of the Verda State Bank, informs us that the bank at New Verda has liquidated and gone out of business. All accounts have been transferred to the Winn Parish Bank, at Winnfield, where parties having accounts will be paid on checking against the Winn Parish Bank for their funds. The volume of business at New Verda seems to be simply too small to maintain a banking business at that place, and hence the bank closes its doors. All depositors will receive their money in full.
Source: newspapers

Newspaper Articles (1)

1. March 8, 1913 The Colfax Chronicle Colfax, LA

Article from The Colfax Chronicle, March 8, 1913

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Article Text

Verda State Bank Suspended. A note from Cashier J. Hugh Smith, of the Verda State Bank, informs us that the bank at New Verda has liquidated and gone out of business. All accounts have been transferred to the Winn Parish Bank, at Winnfield, where parties having accounts will be paid on checking against the Winn Parish Bank for their funds. The volume of business at New Verda seems to be simply too small to maintain a banking business at that place, and hence the bank closes its doors. All depositors will receive their money in full.