Closed by the bank's board of directors (board-ordered closure)
Newspaper Excerpt
Farmers Bank of Newtown, Sullivan County, was closed today by the board of directors
Source
newspapers
Newspaper Articles (1)
1.April 16, 1926Macon Chronicle-HeraldMacon, MO
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Article Text
Newton Bank Closes
Farmers Bank of Newtown. Sullivan County, was closed today by the board of directors according to word received by the State Finance department here.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.