Farmers & Merchants Bank

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: January 1, 1922*
Location: Imperial, California (32.848, -115.569)

Metadata

Model: gpt-5-mini
Short Digest: e978a649

Response Measures

Full suspension, Books examined

Other: State superintendent of banks (Jonathan S. Dodge) attended meetings and cooperated to facilitate reopening; stockholders to complete reserves and satisfy examiner requirements.

Description

Bank closed Jan 3, 1922 due to inability to secure funds to meet pressing demands (liquidity shortage implying depositor withdrawals). Article (Jan 14, 1922) reports state superintendent helping and stockholders arranging to resume business soon — bank expected to reopen. Cause is not described as a discrete hoax/false report, so treated as a run/liquidity-driven suspension leading to planned reopening.

Events (3)

1. January 1, 1922* Reopening

Newspaper Excerpt: it is very probable ... that the bank will resume business next week and will be in good running condition before the end of the month.
Source: newspapers

2. January 3, 1922 Run

Cause Details: Pressing demands for funds; inability to secure funds to meet withdrawals (liquidity shortage)
Measures: Stockholders met and conferred with state superintendent to raise reserves and arrange resumption of business
Newspaper Excerpt: which closed its doors January 3, because of inability to secure funds with which to meet its pressing demands
Source: newspapers

3. January 3, 1922 Suspension

Cause Details: Closed due to inability to secure funds to meet pressing demands (liquidity shortage)
Newspaper Excerpt: The Farmers & Merchants Bank of Imperial, which closed its doors January 3, because of inability to secure funds
Source: newspapers

Newspaper Articles (1)

1. January 14, 1922 Imperial Valley Press El Centro, CA

Article from Imperial Valley Press, January 14, 1922

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Article Text

DODGE SAYS IMPERIAL BANK WILL R. RESUME Substantial Payments to Creditors Will Be Made Within Short Time-Will Place on Very Substantial Basis The Farmers & Merchants Bank of Imperial, which closed its doors January 3, because of inability to secure funds with which to meet its pressing demands, is getting its affairs into shape for an early reopening, according to a statement made by Jonathan S. Dodge, state superintendent of banks, who came here to atted the adjourned stockholders' meeting from last week. Mr. Dodge conferred at length with the officials and directors of the bank, as well as other citizens who are deeply interesttd, and expressed a willingness to co-operate to the fullest extent in the movement to have the bank's doors opened at an early date. Discuss Plans The stockholders yesterday discussed plans for the resumption of business and the policies upon which the bank is to be operated. The amount of money required to complete the reserves and satisfy the bank examiner seemed quite within reach. It is very probable, according to the outlook this morning, that the bank will resume business next wetk and will be in good running condition before the end of the month. All present at the meeting were unanimous in the opinion that the best interests of the stockholders and depositors, as well as the people of the community, would be served