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DIXIE BANKS REOPEN ABBEVILLE, La., March 17 (AP).Abbeville's two recently suspended banks, together with the bank at Breaux Bridge, near here, opened yesterday. The institutions are the First National Bank of Abbeville, the Abbeville Bank & Trust Co. and the Farmers & Merchants Bank of Breaux Bridge. The city was decorated and celebrating.
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THREE LOUISIANA BANKS TO RE-OPEN March 17. (U.P.) banks in section, the First National the Bank of and Trust Company, the Breaux Bridge Bank and Trust Company St. Martin Parish, were The banks assumed the and deposits of three other banks vicinity and andepositers would paid off in yearly installments of per cent.
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REVIEWS BANK CONDITIONS (CONTINUED FROM PAGE ONE) and after only few hours suspension of business on the Monday following, viz. January 25, 1932. the bank reopened as the Planters Trust and Savings Bank of Opelou- Breaux Bridge Bank and Trust Company Bridge, La. with total deposits $264.suspended January 29. 1932. and reopened March 16th. under of Farmers and MerBank total deposits of approximately ganized and March 16th Bank of Abbeville and Trust Company. Bank of Maurice of Maurice. La deposits approximately February 1932. reopened March as branch of Abbeville and Trust ComBank Loreauville of Loreauville La., deposits $70,000. February 1932 in process and expected to reopen within few The Citizens Bank of Franklinton. total deposits approximately closed February 1932. has been placed in liquida. and the bank this forced go judicial liquidation. In this perfected whereby the fifty per funds delay. with fair prospect eventually In the one other bank December 1931, has by merger Also one the that in and has in of has its plans for and its reonly upon its loan from the reconIt has that there bank failures the United States during the past two this number only eight were Louisiana. In and of banks mentioned. was found order better the interests of all cerned. provide that depositors funds made available only on time basis. Eight banks and branches have been reopened by using this plan, and more than certificates deposit been issued. This includes one reduring the latter part of 1931. In this manner some twenty depositors having approximately $4,500,000.00 on deposit have been protected for the one their deposits. Records judicial liquidations banks will an age loss depositors of from 40 50 per centum. Therefore. through the method of reorganization the cases of the eight banks listed above. has resulted of two dollars to deThe reconstruction finance corporation has to many banks throughout this section. Louisiana Mississippi are in having local this ed in this city to facilitate negotia. for also. that the advisory board and staff of officials of this office of outstanding bankers and men of this who so well know the values the held by our banks. are thoroughly conThe National Credit Corporation and valued service, to many of our banks prior to the of the Reconstruction Finance Corporation.
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REPORT IS PREPARED BROCK Situation 1931 And During The Present Year Reviewed By Bank Commissioner BY BROCK (State Bank Commissioner) (Written for Associated Press) NEW ORLEANS, April banksituation in Louisiana may be regarded with considerable satisfaction view of general conditions that prevailed for sometime, and compared with the banking situation throughout the country whole. During 1931 there only five small banks, close in into judicial liquidation. Since the beginning of 1932 other small banks the most their suspension practically one hundred per having by reorganization, merger refinancing. Changes among State Banks Louisiana since January 1932 are follows: Planters Bank Cheneyville, with deposits approximately suspended January 1932. Reopened January 1932, Branch the Commercial Bank Trust Company Alexandria, Parish Bank Trust Company Opelousas, with total deposits aproximately $390,000.00, suspended January 1932. Reorganized and opened March Parish Trust Savings Bank. Following close of the Parish Bank Trust Company of Opelousas on Saturday January 23, considerable proportions developed and continued throughout the day Planters Trust Savings Bank, with total deposits $850,000.00. bank demand uninterruptedduring the day but deemed for the proper protection all depositoors, reorganization be effected. This was accordIngly completed over the week end, after only on the Monday following, viz January 1932, the the Planters Trust Savings Bank Opelousas. Breaux Bridge Bank Trust Comof Breaux Bridge, with total deposits of approximately suspended January 1932, reorganized and reopened March 16th, under name of Farmers Merchants Bank. Bank of La., deposits of suepended February 1932, March 16th Bank of Abbeville & Trust Company. Bank Maurice of Maurice, La., with total deposits approximately suspended February 1932, reopened March branch Bank Abbeville Trust Company. Bank of Loreauville of Loreauville, with total deposits suspended February 1932, now of and process within The Citizens Franklinton, with deposits of $72,000.00, February 15, 1932, has been placed in liquidation, and the only year to forced into liquidation. In case, however, perfected whereby the are to receive fifty per of their funds without with fair eventually more. In addition to the above, one other which suspended in December 1931, has reopened by merger bank in the town. Also of the banks that closed in Novemwhich since been in process completed its plans for and its being tingent only upon its loan from the Finance Corporation. been reported that there were some thirty hundred bank failures the United States past number eight in Louisiana. the several reorganizations and reopenings of banks mentioned, found necessary in order to better conserve the all concerned, to provide that depositors funds be made available only time payment basis. Eight banks three branches have been reopened using this plan, and more than certificates deposit have been issued. This includes one during latter part 1931. In this manner some twenty thousand depositors having approximately deposit have been protected for the full one hundred per centum of their deposits. Records forced judicial liquidations of banks show average to depositors of from forty fifty centum. Therefore, through the method reorganization used the of eight banks listed resulted saving nearly million dollars to depositors. Finance Corporacontributed material aid to many banks throughout section. Louisiana and Mississippi bankers fortunate having local office this located this to facilitate for loans; officials that the and composed and business this who well know the values the held by are converwith local conditions. The National Corporation valued many our banks prior the inauguration the Finance Corporation.
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Brock Regards Banking Conditions in Louisiana With Considerable Satisfaction State Bank Commissioner Only Small NumReports ber Closed and Practically All Reopen. (By Brock, Bank Commissioner) Associated Press) NEW April banking Louisiana considview of genprevailed for sometime, as compared with banking situation throughout the whole. During 1931 country five small banks Louisiana and go forced judicial beginning of 1932 several small banks other but for part only temporary: practically hundred cent resumed business, by reorganization, merger or refinancing. Changes among State banks Louisiana since January 1932 are follows: Planters Bank. Cheneyville, deposits approximately suspended January 1932. opened January 11. 1932. branch Commercial Bank Trust Company Alexandria, Parish Bank Trust Company Opelousas, deposits approximately $390,000 pended January and reopened ParTrust Savings Following the close the Parish Bank and Trust Company of OpelouSaturday January and continued day on the Planters Trust Savings The bank demand ruptedly during day but deemed proper reorganization effected. This accordingly completed business the Monday following January 1932. the bank reopened the Planters Trust and Savings Bank of OpelouBreaux Bridge Bank Trust Company Bridge deposits $264.000. January 1932. organized and reopened March 16th under name of Farmers and MerBank total deposits approximately ganized March 16th Bank of Abbeville Trust ComBank Maurice Maurice deposits February March branch Bank and Trust ComBank Loreauville Loreauville with deposits and expected within Citizens deposits February has placed liquida and the this judicial dation. this however perfected the receive per with fair prospect eventually addition the suspended December 1931, has been reopened by merger another bank the one the banks closed November been process of practically plans reorganization and opening being contingent only its loan from the struction Finance Coporation. there hundred failures United during years. this number reorganizations and cerned, depositors payment reopened more certificates of deposit have issued This includes organization during the latter part of 1931. some twenty thousand depositors having approximately deposit protected for full per their deposits. Records forced judicial liquidations banks will age depositors from Therefore, method reorganization the cases the eight banks listed above. there resulted savings nearly million dollars to The reconstruction finance poration contributed many banks this Louisiana Mississippi bankers are fortunate in having this corporation in city facilitate negotiations for the board and officials office composed ing bankers business men section know the values by our banks. are thoroughly conversant with conditions. Credit Corporation rendered considerable valued many our banks inauguration of the construction Finance Corporation.