Corning Bank & Trust Company (Corning, AR)

Episode Information

Episode UID
81021171571
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
8102117 routing
Routing Number
81-0211
Start Date
November 19, 1930
Location
Corning, Arkansas (36.408, -90.580)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
890e240708ba6909

Response Measures

None

Description

Later court action (Dec. 12) seeks a receiver for the defunct Corning bank, suggesting permanent closure.

Events (3)
1. November 19, 1930 Suspension
Cause
Local Banks
Cause Details
Suspended under the state's five-day provision amid a wave of suspensions and heavy withdrawals at other Arkansas banks.
Newspaper Excerpt
The Bank of Corning at Corning suspended Wednesday afternoon.
Source
newspapers
2. November 20, 1930 Other
Newspaper Excerpt
Three more banks were added ... They the Bank of Corning. Corning. ... All three Institutions were suspended under the five days provision.
Source
newspapers
3. December 12, 1930 Receivership
Newspaper Excerpt
Taylor brought an receiver of the defunct Cerning. Ark., Bank and Trust company complete investigation ... asks appointment receiver for the ... Corning, Ark., Bank and Trust company.
Source
newspapers

Newspaper Articles (3)
1. November 20, 1930 The Courier News Blytheville, AR
Article from The Courier News, November 20, 1930

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Article Text

Three More Small Banks Close But Others Are Likely to Reopen. HEBER SPRINGS, ARK., Nov. Arkansas National bank of Heber Springs resumed business shortly after noon today, after having been closed since Monday. During the first half hour business deposits were made and only normal withdrawals were ported. The bank was one of 58 that closed suspended business Arkansas this week. LITTLE Ark., Nov. 20. report that the ArkanNational bank of Heber Springs, of 58 which suspended clospermanently carlier this week, today was inconce state officials that banking conditions were becoming Others' Doubtful Whether other banks would able to open the end of their suspension period question today which puzzled banking department authorities in the right of extending the suspension period Definite word that the American Exchange Trust company, one. the largest and considered the strongest banks in the state, would not open at the close the five day period was had last night. would force them closed. They did Indicate when business might resumed nor did they say they would ask for tension the five day period. Two banks yesterday notified state authorities they had closed temporarily, and third. of Tyronza in Poinsett county, closed permanently. state banking authorities taking over its operations. Three More Close Three more banks were added to the which have suspended business today. They the Bank of Corning. Corning. Citizens Bank, at Bald Knch. and the Bald Knob State bank. The latter bank opened for business this morning but heavy withdrawals during the first two hours business caused officers take precautionary measures. All three Institutions were suspended under the five days provision. The total closed and suspended since last Monday mounted to with the three banks closed today.

2. November 21, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 21, 1930

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Article Text

FINANCES ARE CLEARING UP IN ARKANSAS Opening of Bank at Heber Springs and Reorganization Plans Restore Confidence over Arkansas Following Bank Suspensions LITTLE ROCK, Ark., Nov. Additional encouragement to Arkansas' banking situation was given today by the state banking department, when Walter E. Taylor, commissioner, announced that information coming into his office indicated that more of the 63 suspended institution than he at first anticipated. are working out reorganization and reopening plans. Mr. Taylor said that reports indicated that many of the institutions had progressed with their reorganization plans to the extent of expecting open for business during the later part of this week or carly next week. He expressed the belief that the situation in the state would show great improvement during the coming week. The National Bank of Arkansas of Heber Springs was the first to resume business. This institution reopened its doos yesterday morning after authority had been received from Comptroller of Currency W Pole at Washington. The national bank examiner reported that the institution was in position resume business Directors of the American change Trust Company of Little Rock today continued their conferences to consider reopening plans. Just when and how the local institution can reopen has been determined. Five More Suspend Officials of the American Exchange stated that reorganization requiring the co-operation of the depositors were well under way and it was hoped that the bank could be reopened soon. The bank will be taken over Saturday by the state bank commissioner pending completion of the reorganization Five banks were added to the list of those suspending. The Bank of Corning at Corning suspended Wednesday afternoon. The Citizens Bank at Bald Knob did not open this morning, five day suspension. The Bald Knob State Bank opened, but was subjected to run during the morning and suspended at 11 clock as precautionary measure. The five brought the total banks suspending or closing up to 63, Two small institutions, the Bank of Ozan at Ozan, Hempstead Counand the Bank of Strawberry Strawberry, Lawrence County, both independent banks, announced suspensions for -days. The Bank of Strawberry suspended last Monday, but the first report of the action was not received at the state banking department until this morning. The Bank of McNeil at McNeil suspended for five days Thursday afternoon, and the Bank of Tyronza was taken over by the state bank department. A dispatch from McRae said the Peoples Bank at that place expected to reopen Saturday or Monday, under a proposed agreement that stockholders pay in $12,000, an amount equal to deposit the bank had in the Arkansas Trust Company at Newport when the latter suspended. Depositors also were being asked to agree to maintain 85 per cent of their deposits in the bank for 12 months, or as long as necessary to stabilize the institu-

3. December 12, 1930 The Courier News Blytheville, AR
Article from The Courier News, December 12, 1930

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Article Text

Court Business Outcome of Action. LITTLE ROCK, Dec. 12 Business activities of the A. Banks leading Arkansan were restrained today by temporary court orders file here. The orders received from ChanDodge. will prevent the fendants from disposing of their properties outcome filed against them by Walter commissioner Taylor's asks appointment receiver for the Banks Lumber Underwriters M Howell company and B. Banks Judgment on note for sought in one and contract Taylor brought an receiver of the defunct Cerning. Ark., Bank and Trust company complete investigation of the three firms by the which alleges directorate controlled business of each.