Wyatt Bank - Wyatt, MO

Episode Information

Episode UID: 80129471500
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 8012947 routing
Routing Number: 80-1294
Start Date: December 16, 1924
Location: Wyatt, Missouri (36.909, -89.223)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 43c0f5973f2193cd

Response Measures

None

Description

Bank was closed by directors and taken over by the bank examiner; described as an honest failure from frozen assets.

Events (2)

1. December 16, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Frozen assets caused directors to close the bank; funds ran out as bills were presented.
Newspaper Excerpt: The bank was closed by the board of directors on December 16
Source: newspapers

2. December 18, 1924 Receivership

Newspaper Excerpt: taken over by the bank examiner on December 18. The failure was termed as an honest one by the examiner, frozen assets having caused the directors to decide to close the institution.
Source: newspapers

Newspaper Articles (1)

1. December 31, 1924 The Daily Republican Poplar Bluff, MO

Article from The Daily Republican, December 31, 1924

Click image to open full size in new tab

Article Text

WYATT BANK WILL NOT BE OPENED AGAIN Decision of Board of Directors and State Banking Heads Made Today After Long Conference. BANK CLOSED ON DEC. 16 FIRST IN MISS. CO. Frozen Assets Given As Cause of Action—Footing of Bank Was Given As $127,748.50 In Last Statement. No effort will be made to reopen the Wyatt Bank at Wyatt, eight miles east of Charleston, in Mississippi county, according to Bank Examiner C. M. Duncan of this city today, after he had talked with Commissioner Millspaugh in Jefferson City over telephone. The bank was closed by the board of directors on December 16 and was taken over by the bank examiner on December 18. The failure was termed as an "honest one" by the examiner, frozen assets having caused the directors to decide to close the institution. The closing of that bank is the first failure of banking institutions in Mississippi county in history of that county, it was stated. The bank's accounts totaled $127,748.50, of which approximately $40,000 was on deposit. J. W. Hawkins is president of the bank and O. T. Dalton is cashier. The bank had $108,000 in loans with $51,000 in bills payable, and, according to Mr. Duncan, the bank's money run out about the same time that a number of bills, which had to be paid, were presented. To date this year there have been 44 banks closed in Missouri as compared with 28 last year. The reason for so many banks going out of business is said to be the effort to return to normal conditions and because of crop conditions in some sections.