Security Bank & Trust Company (Helena, AR)

Episode Information

Episode UID
81006371507
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
8100637 routing
Routing Number
81-0063
Start Date
July 25, 1925
Location
Helena, Arkansas (34.530, -90.592)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bf901d1ce5a0818e

Response Measures

None

Description

Date of suspension taken from OCR'd line reading 'the banking day on 25, last' and interpreted as July 25, 1925.

Events (2)
1. July 25, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged misapplication of funds and publishing false reports; officers later indicted.
Newspaper Excerpt
The bank suspended business at the close of the banking day on 25, last.
Source
newspapers
2. July 27, 1925 Other
Newspaper Excerpt
When the bank suspended business in July, it was succeeded two days later by the new institution of which Charles McKee ... is president.
Source
newspapers

Newspaper Articles (3)
1. December 20, 1925 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, December 20, 1925

Click image to open full size in new tab

Article Text

NO DEVELOPMENTS IN HELENA BANK CASES No Official Notice of Indictments Received. HELENA, Ark., Dec. 19.—(AP)—There were no developments here today following publication of the alleged indictment of six prominent Helena business men by a Federal grand jury at Batesville. The men alleged to have been indicted in connection with the failure of the Security Bank and Trust Company last July are Joseph L., Louis, Philip and Lafe Solomon, and J. W. Clopton and H. D. Moore, all officers or directors of the defunct bank. No official notice of the indictments has been received here and no warrants have been served. The six men, all engaged in business here, were at their offices today as usual. None of the six have made statements regarding the alleged indictments.

2. December 23, 1925 The Tennessean Nashville, TN
Article from The Tennessean, December 23, 1925

Click image to open full size in new tab

Article Text

OFFICERS OF DEFUNCT BANK ARE ARRESTED Six Men Released After Making Seventeen Bonds. Helena, Ark., Dec. 22.-Six men, former officers and directors of the lefunct Security Bank & Trust Co., Helena, were arrested here late today on indictments charging violations of the United States bankIng law. They were released after making bond. The indicted men are: Joseph L. Solomon, Lafe Soloman, Louis Solomon, Philip Solomon, James W. Clopton, and H. Dade Moore. The indictments were based on alleged irregularities in connection with the security bank here last Joseph L. Solomon was vicepresident, Louis Solomon was eashler and the other four men were directors in the bank. The bank suspended business at the close of the banking day on 25, last. A total of 17 bonds were made by the six men. one for $5,000, and the others for $2,500 each. The indictments were returned two weeks ago federal grand jury at Batesville, Ark. Unconfirmed reports of the grand jury action have been in circulation for week, but authorities and the men concerned declined to comment on the rumors

3. December 24, 1925 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, December 24, 1925

Click image to open full size in new tab

Article Text

HELENA MEN SURRENDER AND MAKE BONDS HELENA, Dec. 22.-Six men, former officers and directors of the defunct Security Bank and Trust Company of Helena surrendered here today and made bond to face charges of misapplying furds of the bank and publishing false reports of the institution's financial condition. The men under indictment are Joseph L. Solomon Lafe Solomon, Louis Solomon, Phillip Solomon, Jas. W Clopton and H. Dade Moore, well kr/wn residents of Faillips county. The indictments were returned agains: the men two weeks ago by and was by ants and Planters' Bank. ident, Louis Solomon was cashier end the other four mon directors of the Security bank. A total of 17 bonds were made by the six men, one was for $5.000 and the others for $2,500 cash One for Phillip Solomon, two for Clopton, two for More, three for Joseph L. Solomon and six for Louis Solomon. One of Louis Solomon's bonds was for $5,000. When the bank suspended business in July, it was succeeded two days later by the new institution of which Charles McKee former state commissioner, is president. A sign painted on cardboard and placed over the name the ty bank announced the opening of the new institution. The bank contaired the name of only of the old directors James W Clopton