After the directors of Farmers National Bank closed it for insolvency in November 1926, the comptroller of the currency in Washington D.C., appointed Judge A. S. Walker as receiver for the bank. He took charge of the affairs of the bank on December 1st of that year.
A couple of weeks later, on December 12th, The Austin Statesman newspaper ran the following story; "Stockholders of the closed Farmers National bank of Manor have decided not to reorganize the old bank, but will assist the citizens of Manor in the organization of a new bank, it was announced here Saturday... The first meeting looking to the organization of the new institution will be held, Monday night, Dec 13, at the Fireman's Hall at Manor... We hope for a large attendance at this meeting, as the citizens of the town are showing the proper spirit by getting behind this enterprise as a community project."
About six months later, M. C. Parrish, who was then President of University Bank in Austin, purchased the building, furniture and fixtures of Farmers National in a transaction involving $4750 in cash.
At the same time he announced that the state banking board had granted a charter to Manor State Bank which he would soon open in the Farmers National building. This was confirmed on July 3 when it appeared in The Austin Statesman under the headline; "CHARTERS GRANTED - Manor State Bank, Manor; capital stock $25,000."
An article in The Austin Statesman newspaper for July 2, 1927 said this; "The new institution will open at once in the premises formerly occupied by the Farmers National bank. Manor has been deprived of banking facilities of late; the citizens having had to do their banking business in Austin or Elgin. They are therefore anxiously awaiting the opening, according to Mr. Parrish, and have pledged their support and patronage."
A follow-up article on July 15th, said, "Manor's new bank will open its doors at 9 o'clock, Saturday morning. M. C. Parrish, president of the University Bank of Austin, was in Manor Friday making final preparations for the opening."
The next day's newspaper contained this article; "Business operations of the Manor State Bank began Saturday morning at 9 o'clock when E. B. Howell, rural mail carrier, made deposit No. 1. Mr. Howell and W. A. Marcuse were in charge of remodeling the building, formerly occupied by the Farmers National bank."
Court records published in The Austin Statesman on October 2, 1927 showed the following transactions;
The deteriorating financial condition of the bank became publicly evident a couple of years later when statements like these were published in the newspaper.
October 19, 1927 April 6, 1930 July 22, 1930
$155, 522.21 $84, 690.39 $74, 631.27
On October 29, 1929 the stock market crashed, signalling the beginning of the Great Depression. Many businesses and financial institutions were forced to shut down. Unfortunately, Manor State Bank was one of them. The Rand McNally Bankers Directory for 1933 lists Manor State Bank as having gone into voluntary liquidation on March 7, 1932.
Thanks for these posts! Do you know when the addition was added to the Farmers then Manor State bank building that later became the police station and city hall? Was there anything there in between?
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