Odem State Bank - Odem, TX

Episode Information

Episode UID: 88166771592
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 8816677 routing
Routing Number: 88-1667
Start Date: August 24, 1932
Location: Odem, Texas (27.951, -97.582)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 95ad31c1339cc1f0

Response Measures

None

Description

Article describes the bank as defunct and depositors arranging transfer of assets; details on formal receivership or voluntary liquidation are limited.

Events (1)

1. August 24, 1932 Suspension

Cause Details: Article labels the bank defunct and describes depositors organizing to take over assets; no specific cause given for failure.
Newspaper Excerpt: At the meeting which was held by depositors of the defunct Odem State bank Friday night, ... trustees to act in behalf of the depositors until and unless other trustees are selected
Source: newspapers

Newspaper Articles (1)

1. August 24, 1932 Corpus Christi Times Corpus Christi, TX

Article Text

Bank Trustees Are Appointed Odem Teachers For Next School Term Are Named By Board Odem.—(Sp.) — At the meeting which was held by depositors of the defunct Odem State bank Friday night, S. L. Webb, E. S. Butler and R. G. McDaniel were selected as trustees to act in behalf of the depositors until and unless other trustees are selected by a final vote of the depositors. Each depositor signing the contract to take over the assets of the bank may vote in proportion to the amount of his deposit. The selection of the trustees was made by a vote of nearly one-half of the deposits held by those signing the contracts. Instructions were given the attorney to proceed with legal steps necessary to transfer the assets of the bank over to the depositors by the state banking commissioner. Application is to be made to District Judge T. M. Cox to have the transfer approved. Most of the depositors have signed the agreement for the transfer excepting a few, consisting mostly of state agencies, Federal Reserve bank and receivers for bankrupt concerns all of which have not been given authority to sign by law. Another lap in the construction of Highway 128 is complete and the road has been opened. This part of the work has been under construction for past several months and is between Sinton and Woodsboro. With the completion it is unnecessary to detour over the Bonnie View-Taft road to get to the San Antonio-Corpus Christi highway. Highway 128 is further completed to a point below Angelita in San Patricio county, as near as possible to the Nueces river bridge. That portion is to be completed with finishing of the Nueces river bridge, now under construction. Shipments of cattle from South Texas are being noted. R. H. Welder, the largest stock raiser and shipper in this section, is reported to have shipped from 100 to 200 head of beef cattle each week since May 10 and continued shipments are expected until December. These shipments for the most part have gone to Phoenix, Ariz., Fort Worth, Kansas City and Los Angeles. According to the report of W. P. McLaughlin, special agent, there have been 14,389 bales of cotton ginned in San Patricio county from the 1932 crop prior to Aug. 1, as