Bishopville National Bank (Bishopville, SC)

View Charter #10872 on SPMC View balance sheet

Episode Information

Episode UID
1087201585
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
108720 national
Charter Number
10872
Start Date
January 2, 1932
Location
Bishopville, South Carolina (34.218, -80.248)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
108db4e2f0190077

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1932-01-12
Date receivership terminated
1937-03-23
Share of assets assessed as good
18.8%
Share of assets assessed as doubtful
77.2%
Share of assets assessed as worthless
4.0%

Description

Articles report suspension in January 1932 and ongoing receiver distributions in 1934; known receivership date (1932-01-12) used for receivership event.

Events (6)
1. July 1, 1916 Chartered
Source
historical_nic
2. January 2, 1932 Suspension
Cause
Government Action
Cause Details
Bank suspended operations in early January 1932 and placed under a receiver (per articles).
Newspaper Excerpt
This is the third dividend paid by this receiver since this bank suspended on January 2, 1932
Source
newspapers
3. January 12, 1932 Receivership
Source
historical_nic
4. January 12, 1932 Receivership
Newspaper Excerpt
J. C. Seabury, receiver for the Bishopville National Bank of Bishopville, announces the payment of a dividend of 25 per cent on March 22, 1934.
Source
newspapers
5. March 22, 1934 Other
Newspaper Excerpt
BISHOPVILLE NATIONAL PAYS DIVIDEND TODAY ... The checks were distributed to the creditors upon the presentation of their receiver's certificate Or proof of claim. ... This is the third dividend paid by the receiver since the bank suspended business January 1, 1932, and makes total of 50 per cent distributed to the depositors.
Source
newspapers
6. August 22, 1934 Other
Newspaper Excerpt
Dividend Declared For Bishopville National Bank ... This is the fourth dividend paid by this receiver since this bank suspended on January 2, 1932, and makes a total of seventy three per cent distributed to the unsecured creditors.
Source
newspapers

Newspaper Articles (3)
1. March 21, 1934 The Item Sumter, SC

Article Text

Bishopville Bank Pays 25% Dividend J. C. Seabury, receiver for the Bishopville National Bank of Bishopville, announces the payment of a dividend of 25 per cent on March 22. 1934 to the creditors of said bank who have properly proven their claims with him. The dividend checks are now ready for distribution, so anyone entitled to receive same will please call at the bank and present their receiver's certificate of proof of claim. Checks will be mailed only to outof-town creditors. This is the third dividend paid by this receiver since this bank suspended on January 2, 1932, and makes total of 50 per cent distributed to the unsecured creditors. All of the secured creditors have been paid in full. and all loans obtained by the receiver from the Reconstruction Finance Corporation to assist in the payment of these dividends have been repaid in full.

2. March 22, 1934 The Columbia Record Columbia, SC

Article Text

BISHOPVILLE NATIONAL PAYS DIVIDEND TODAY (Special The Record) BISHOPVIL March 22.-The Bishopville National bank started paying off a 25 per cent dividend today, according to an announcement from J. C. Seabury, receiver for the bank. The checks were distributed to the creditors upon the presentation of their receiver's certificate Or proof of claim. Checks were mailed to out-of creditors. This is the third dividend paid by the receiver since the bank suspended business January 1. 1932, and makes total of 50 per cent distributed to the depositors. The receiver said that all loans obtained from the Reconstruction Flnance corporation to assist in the payment of these dividends, have been repaid in full.

3. August 22, 1934 The Item Sumter, SC

Article Text

Dividend Declared For Bishopville National Bank C. Seabury. receiver for the Bishopville National Bank announces the payment of a dividend of twenty-three per cent on Wednesday, Aug. 22. to the creditors of the bank who have properly proven their claims with him The dividend checks are now ready for distribution. No dividend checks will be delivered to anyone until they have signed a proper form of receipt and presented their receiver's certificate of proof of claim in order that said dividend may be endorsed on the back thereof This is the fourth dividend paid by this receiver since this bank suspended on January 2. 1932, and makes a total of seventy three per cent distributed to the unsecured creditors. The present dividend is being paid partly from funds collected by the receiver in the ordinary course of liquidation of the bank and partly from the proceeds of another loan obtained from the Reconstruction Finance Corpora tion. This loan is secured by lien on till of the remaining assets of the bank and must be repaid in full, with interest. before*any further dividend disbursement can be considered by the receiver.