Shelby National Bank - Shelbyville, IN

Episode Information

Episode UID: 794601586
Episode Type: Run Only
Bank Type: national
Bank ID: 79460 national
Charter Number: 7946
Start Date: February 10, 1932
Location: Shelbyville, Indiana (39.521, -85.777)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 752d9502666e2689

Response Measures

Accommodated withdrawals

Description

Run triggered by voluntary closings of two local trust companies and recent local bank failure.

Events (2)

1. October 11, 1905 Chartered

Source: historical_nic

2. February 10, 1932 Run

Cause: Local Banks
Cause Details: Runs were triggered after the Security Trust & Savings Company and Shelby Trust Company closed voluntarily and following the recent closing of the First National Bank of Shelbyville.
Measures: Depositors were paid in turn; police were called to keep order; depositors lined up and awaited their turn.
Newspaper Excerpt: Depositors Make Run On Shelby National Bank... Throngs of depositors swarmed around the bank entrance in a frantic effort to withdraw their money
Source: newspapers

Newspaper Articles (1)

1. February 10, 1932 The Edinburg Daily Courier Edinburg, IN

Article Text

RUN ON TWO BANKS AT SHELBYVILLE—TWO TRUST COMPANIES CLOSE Trust Companies Close Voluntarily to Protect Depositors.—Depositors Make Run On Shelby National Bank and Farmers National Bank.—Police Keep Order. The Security Trust & Savings Company and the Shelby Trust Company at Shelbyville, closed their doors voluntarily this morning for protection of their depositors. Shortly after the two Trust Companies closed their doors, the depositors made a run on the Shelby National bank. Throngs of depositors swarmed around the bank entrance in a frantic effort to withdraw their money, and police were called to keep order. The depositors were forced to line up and await their turn. It is understood that the depositors demanding their money were paid, and the run which lasted for over an hour before being quieted, will not permanently injure the institutions. As an aftermath of the run on the Shelby National Bank, a small run was made on the Farmers National Bank with little damage being done. It is thought that the two banks will continue to operate, however, no definite plans are known at this time, as the extent of the damage done by the run can not be determined. It is thought that the action taken by the two Trust Companies and the runs on the two banks was partially caused by the uncertain feeling existing after the closing of the First National Bank of Shelbyville, a few days ago. As soon as the news regarding the closing of the two Trust Companies became known, depositors in the two banks were near the panic stage and the run resulted. If the two banks survive the damage done by today's runs, they will be the only banking institutions in Shelbyville. There were three banks and two Trust Companies.