9345. Exchange Bank (Savannah, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 6, 1927
Location
Savannah, Missouri (39.942, -94.830)

Metadata

Model
gpt-5-mini
Short Digest
d2c56495af74e718

Response Measures

None

Description

Articles indicate the Exchange Bank of Savannah had already failed and was in liquidation by 1927 (auction of building/fixtures). A 1929 article refers to the Exchange Bank as the first bank to close in a recent wave, confirming it closed permanently earlier and entered liquidation. No explicit contemporaneous bank run on Exchange Bank is described in these excerpts, and no clear cause for the suspension is given in the texts provided.

Events (2)
1. May 6, 1927 Receivership
Newspaper Excerpt
the liquidation the affairs the change Bank, sold at auction building fixtures of the defunct Exchange Bank of Savannah ... the Andrew Bank ... sale $6,500 for the Exchange Bank building and fixtures and this will add the portunity of paying full the itors the Erchange Bank.
Source
newspapers
2. * Suspension
Cause Details
Article states the Exchange Bank closed earlier and entered liquidation; the immediate trigger is not specified in the provided text.
Newspaper Excerpt
The Exchange Bank Savannah the first close recent It has since 85 to and paid per still the liquidation.
Source
newspapers

Newspaper Articles (2)
1. May 6, 1927 Savannah Reporter and Andrew County Democrat Savannah, MO
Article from Savannah Reporter and Andrew County Democrat, May 6, 1927

Click image to open full size in new tab

Article Text

COUNTY BANK BUILDING AND Saturday Deputy Finance Commissioner Todd, of charge the liquidation the affairs the change Bank, sold at auction building fixtures of the defunct Exchange Bank of Savannah, vertised highest bidder These were "knocked the Andrew County Bank for $6,200, but the Andrew Bank County knew the value the property generously raised the Thus knowing that better over pay than under the Andrew Bank this sale $6,500 for the Exchange Bank building and fixtures and this will add the portunity of paying full the itors the Erchange Bank.

2. November 13, 1929 St. Joseph News-Press St. Joseph, MO
Article from St. Joseph News-Press, November 13, 1929

Click image to open full size in new tab

Article Text

A SAVANNAH FAILURE Trust Company Closes Its Doors. A Heavy Run Results in Action by 000 Deposits. The Mo., Nov. Trust Company, 42-year-old banking Institution of Andrew County, deposits of $425,000 failed open its doors this Heavy during the culminating heavy for Wells. president the company The decided meeting the directors last night. and until the closing there stream the tellers' windows. Although several depositors that stock slump had for more funds, the run which been circufor several days. Tried to Sell Land. The trust company recently tried sell eighteen farms at met with little success. transfer last week some land from the Corn Belt Realty Company, subsidiary the bank, member indirectly blamed for the withdrawals, was this transfer which started the rumors. Walter Wells, president of the assisted by brothers, William Sam, secretary and trust company grew out of the in the State Bank Savannah, continuing under the same from the office the state expected in late today charge the affairs. Is Third Bank to Close. The Andrew County Bank is the only remaining one deposits more $300,000. Institution is the third bank close doors in three The Exchange Bank Savannah the first close recent It has since 85 to and paid per still the liquidation. The Andrew County Bank grew out the reorganization of this tution. First Trust Company the other bank which failed.