Commercial National Bank (Eufaula, AL)

Episode Information

Episode UID
502401582
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
50240 national
Charter Number
5024
Start Date
October 21, 1931
Location
Eufaula, Alabama (31.891, -85.145)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
67daa56e8e144273

Response Measures

Full suspension

Other: The bank directors decided not to open for business after a period of withdrawals, and a national bank examiner took charge of the bank's affairs.

Receivership Details

Depositor recovery rate
77.5%
Date receivership started
1931-10-27
Date receivership terminated
1937-02-26
OCC cause of failure
Economic conditions
Share of assets assessed as good
24.3%
Share of assets assessed as doubtful
56.7%
Share of assets assessed as worthless
19.0%

Events (5)

1. November 5, 1895 Chartered
Source
historical_nic
2. October 21, 1931 Run
Cause Details
Heavy withdrawals over a 30-day period leading up to the closure.
Newspaper Excerpt
Withdrawals for the last 30 days brought about the closing of the Commercial National bank
Source
newspapers
3. October 22, 1931 Suspension
Cause Details
Directors decided to close following heavy withdrawals.
Newspaper Excerpt
failure to open the doors for business today. It was decided after a meeting of the directors last night
Source
newspapers
4. October 27, 1931 Receivership
Source
historical_nic
5. October 27, 1931 Receivership
Newspaper Excerpt
John R. Vann, receiver of the Commercial Bank
Source
newspapers

Newspaper Articles (2)

Article Text

AT EUFAULA BANK CLOSED TODAY Withdrawals for of Commercial Closing National Bank the last 30 withdrawals closing of the about the brought National bank, offiCommercial financial institution of the failure to open the said here after business today. doors for meeting of the directors was It was decided night and last to open for business today. national bank examReed Dolan, the affairs of who took over the Houstono National bank at DoOctober than after its closing the Commercial in charge of National bank here today after the did not this morning. bank open Efforts will be made to reorganCommercial bank, it was the had deposits of said. The bank $124,000 on hand at the close of busofficials said. Deyesterday, the bank totalled $227,000, posits in to the July statement. according The bank is capitalized at $105,000, with $50,000 surplus. Humphrey Foy was president of the bank. Closing of the bank leaves Eubank, the Eufaula with only one Trust Co. The East faula Bank & Alabama National bank was closed here in 1929, John Vann, who liquidating the Houston National bank, being receiver.


Article Text

DIVIDEND ANNOUNCED Commercial Bank Receiver In Eufaula To Give 16 Per Cent John R. Vann, of the Commercial Bank, which went eral years per dividend will be paid to deposiCommercial Bank has already two previous The first one was 30 cent and the second 10 per cent.