Leland Homer Gentry, in a PhD thesis on the history of the Church during the Missouri period, provides a discussion of the failure of the Kirtland Bank.
Leland Homer Gentry, “A History of the Latter-day Saints in Northern Missouri from 1836 to 1839” (PhD Thesis; Brigham Young University, June, 1965), 72-78
Failure of the Kirtland Safety Society Anti-banking Company. The Church in Ohio, like the one in Missouri, was heavily in debt. Three principal items of expense were responsible for this fact: (1) a six-thousand-dollar debt which had accumulated from repeated attempts to recover the Church’s lands in Jackson County; (2) a thirteen-thousand-dollar debt incurred in building the Kirtland Temple; (3) a debt of unspecified amount for the purchase of lands which the Church could settle in peace.
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While Joseph Smith was absent from Kirtland in late 1837, the situation there became desperate. The Saints were actually forced to take sides in order to preserve their lives. Lawsuits were common at both factions made serious attempts to recoup their financial losses by suing their enemies. To avoid the numerous court actions pending against them and to obtain a new bade for their work of dissent as well, Oliver Cowdery, David Whitmer, and Lyman E. Johnson, and John F. Boynton remained in Kirtland where, in the Prophet’s absence, they seized control of the temple and such other Church property as they enabled to secure. Joseph Smith and Sidney Rigdon returned to the city and found the Church there in a state of utter confusion.
Following the Prophet’s return, the Parrish Gang, as they had come to be called, renewed their cries that Joseph Smith was a fallen prophet. Repeated threats were even made against his life by the Prophet’s enemies. At length, he and Sidney Rigdon were forced to vacate the city in order to preserve their lives. They returned again to Far West, this time to stay.