North Arkansas Bank (Batesville, AR)

Episode Information

Episode UID
81069071571
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8106907 routing
Routing Number
81-0690
Start Date
November 17, 1930
Location
Batesville, Arkansas (35.770, -91.641)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
751b2059978ce175

Response Measures

None

Description

Part of a group of 32 A. B. Banks–controlled institutions that suspended Nov 17; subsequently closed and placed in liquidation.

Events (3)
1. November 17, 1930 Suspension
Cause
Local Banks
Cause Details
Temporarily suspended as part of a 32-bank A. B. Banks chain suspension amid panicky conditions following distress/closing of other affiliated banks (Exchange Bank of Little Rock).
Newspaper Excerpt
the following banks in which A. B. Banks company is interested suspended business temporarily this morning: ... North Arkansas Bank, Batesville
Source
newspapers
2. December 1, 1930* Other
Newspaper Excerpt
closed its doors about two weeks ago. There was no run on the bank, nor any indication of one, but this action was taken ... to render and make the deposits available at all times.
Source
newspapers
3. December 18, 1930 Receivership
Newspaper Excerpt
Frank Grammer ... has been appointed by the State Banking Department as liquidating agent for the purpose of liquidating the affairs of the North Arkansas Bank of Batesville which closed its doors November 17, following the closing of the Exchange Bank of Little Rock.
Source
newspapers

Newspaper Articles (4)
1. November 17, 1930 Jonesboro Daily Tribune Jonesboro, AR
Article from Jonesboro Daily Tribune, November 17, 1930

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Article Text

BANKS CLOSED TEMPORARILY STATE CITIES Number of Banks Chain Suspend Business Today In Order to Protect Interest of Depositors. Will Open in Five Days After Precautionary Steps Taken. Thirty-two banks in which B. Banks, Arkansas financier, is interested, temporarily suspended business this morning, with announcements being made to the effect that they would reopen for-business after five days. Capitalists viewed the closing of the banks with little alarm, expressing the belief that the banks are all absolutely solvent and that their temporary closing is for the protection of depositors and to avoid runs that might have resulted from the present panicky condition of the state, Fortunately, no Jonesboro banking interests were in any way connected with any of the banks that closed. according to statements made this morning. The following United Press dis patch tells of the temporary closing of the banks: LITTLE ROCK, Ark., Nov. 17.The following banks in which A. B. Banks company is interested suspended business temporarily this morning: Bank of Altheimer. Altheimer; North Arkansas Bank, Batesville: Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton: Arkansas State Bank, Carlisle: Bank of Carthage, Carthage; Farmers Bank, Casa; Bank of Clarendon; Farmers Bank, Dardanelle; Eudora Bank and Trust Company, Eudora: Hampton State Bank, Hampton: Cleburne County Bank, Heber Springs; Merchants and Planters Bank, Henlena; Arkansas Bank and Trust Company, Hope; Bank of Houston, Houston Merchants and Planters Bank, Humphreys, First National Bank, Junction City: Merchants and Farmers Bank, Junction City: Cleveland County Bank; Kingsland, Chicot Trust Company, Lake Village; American Exchange and Trust Company, Little Rock; First State Bank, Osceola: Bank of Pangburn, Pangburn; Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Victoria Bank, Strong: First State Bank, Thornton, Bank of Wabsseka, Wabaseka: Grant County Bank, Sheridan; Exchange Bank and Trust Company, Dermott, Bank of Fordyce, Fordyce; Exchange Bank of Dermott. and Sheridan, clased at noon, due to heavy runs this morning.

2. November 17, 1930 New Britain Herald New Britain, CT
Article from New Britain Herald, November 17, 1930

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Article Text

THIRTY ARKANSAS BANKS CLOSED 5 DAYS BY ORDERS (Continued From First Page) could have forced the closing of this strong bank." Soon after Caldwell & Company was placed in receivership, Mr. Banks anounced the Caldwell & Company's interest in the American Exchange Trust Company had been bought by Little Rock capitalists. The Pine Bluff bank was the second largest in the group and the Helena institution the third largest Banks was a director and a former president of the bank. The American Exchange Trust Company in Little Rock had deposits of approximately $15,000,000 OD September 24, the date of the last bank call. The Pine Bluff bank on September 24 had deposits of approximately $2,638,000 and the Helena bank at the close of business Saturday had deposits of $726,000. officials said. List of Institutions The banks in which Mr. Banks and assistants are interested and which suspended business today for five days were announced by the company as follows: The bank of Altheimer, Altheimer: North Arkansas Bank. Batesville; Bank of Bauxite, Bauxite; Benton Bank and Trust Company, Benton: Arkansas State Bank, Carlisle; Bank of Carthage, Carthage; Farmers Bank, Casa: Bank of Clarendon, Clarendon: Farmers Bank, Dardanelle: Hampton State Bank, Hamnton: Cleburne County Bank. Heber Springs: Merchants and Planters Bank, Helena; Bank of Houston, Houston: Merchants and Planters Bank, Hunphrey: Cleveland County Bank. Kingsland; Chicot Trust Company, Lake Village: AmericanExchange Trust Company, Little Rock: First State Bank, Morrilton: Arkansas Trust Company, Newport: Bank of Pangburn. Pangburn: Perry State Bank, Perry: Merchants and Planters Bank and Trust Company, Pine Bluff: Bank of Star City, Star City: Victoria Bank, Strong: First State Bank. Stuttgart: Citizens Bank Thornton. and Bank of Wabbaseka Wabbaseka; The Arkansas Bank and Trust Co., Hope: Peoples Bank McRea: and the Endora Bank and Trust Co., Endora. The following banks affiliated with the A. B. Banks and Company remained open for business, the company announced: The Bank of Fordyce and the First National Bank, Fordyce; Bank of Harrisburg, Harrisburg: First National Bank, Mineral Springs: Bank of Stephens, Stephens, and Bank of Waldo, Waldo. Efforts were being made at Junction City to merge the first National Bank and the Merchants and Farmers Bank. and open one of them today, officials said.

3. December 11, 1930 Sharp County Record Evening Shade, AR
Article from Sharp County Record, December 11, 1930

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Article Text

Changes in Local Bank At a stockholders' meeting held Monday in the building of the Bank of Evening Shade, certain stockholders relinquished their holdings which were then taken up by individuals not heretofore connected with the bank. These with the remaining or i g n a stockholdsrs paid into the bank the sum of $10,560.00 to offset the amount now deposited by the bank in the North Arkansas Bank at Batesville, which closed its doors about two weeks ago. There was no run on the bank, nor any indication of one, but this action was taken in order to render and k the deposits available at all times. The deposits include, besides individual funds, the school and road funds belonging to the various districts of the county. The new stockholders are J. M. Street of Calamine, who becomes president, W. T. McJunkins and J. M. Causbie of Ash Flat, Dr. E L. Sullivan and Adam Hulett of Poughkeepsie, J. Bone, R. C. Pounders and Homer Phillips of Sidney, Eagle Street of Cave City, Dr. E. M Gray and Otto Cathey of Even ing Shade. O. S. Westmorelano of Sidney is now vice president and E. B. Metealf and David Metcalf retain their positions IS cashier and assistant cashier. Everybody who is informed as to the financial standing of the citizens will recognize in the list of stockholders of the Bank of Evening Shade, ability to make it one of the safest and strongest institutions in this part of the state. As is the case with the other banks of the county, the stock and control are i n the hands of home people whose interests are here, and whom our people all know and trust. The new arrangement has a tendency to bind together the interests of all our home banks. as may be seen by examining the above list of new stockhdlders.

4. December 18, 1930 The Newark Journal Newark, AR
Article from The Newark Journal, December 18, 1930

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Article Text

RECEIVER FOR BANK Frank Grammer Named as Liquidating Agent For Batesville Bank. Frank Grammer, formerassistant cashier of the old First National Bank of Batesville and who more recently has been engaged n the insurance business in Little Rock, has been apbointed by the State Bankng Department as liquidting agent for the purpose of liquidating the affairs of the North Arkansas Bank of Batesville which closed ts doors November 17, folowing the closing of the Exchange Bank of Little Rock. Mr. Grammer took charge of the bank at Batesville Monday morning and began he work of checking up the nventory as given by F. T. Hunter, cashier, at the time he bank closed. C. D. Metcalf, insurance of Batesville who was formerly cashier of the defunct Union Bank at Batesville, has been appointed assistant to Mr. Grammer. It is said that deposits of the North Arkansas Bank totaled $819,831.57 on the date it closed. It was one of the so-called Banks chain controlled by A. B. Banks f Little Rock. Several thousand dollars of county funds were on deposit in the North Arkansas Bank at the time it closed, and the closing of the bank has had a demoralizing efect on county finances, as well as all other lines of business. Much county scrip has been sold as low as 50 cents.