Article Text
MONTGOMERY, Ala., Dec. 23.-The Merchants' Bank here suspended bus. lines today. directors saying that action was decided upon "to protect the interests of depositors." The bank is capitalized at $100,000.
Merchants Bank (Montgomery, AL)
Episode Information
- Episode UID
61004371464- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Bank ID
-
6100437routing - Routing Number
61-0043- Start Date
- December 23, 1921
- Location
- Montgomery, Alabama (32.367, -86.300)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
c0feb727fb02a1d9
Response Measures
None
Description
Contemporary reports give differing capital figures ($100,000 and $300,000).
Events (2)
1.
December 23, 1921
Suspension
- Cause
- Government Action
- Cause Details
- Directors suspended business and placed affairs in hands of the Alabama State Banking Department to have affairs overhauled and to protect depositors.
- Newspaper Excerpt
- The Merchants' Bank here suspended business today ... the affairs of the institution were placed in the hands of H. H. Montgomery, superintendent of the State Banking Department.
- Source
- newspapers
2.
January 1, 1922
Other
- Newspaper Excerpt
- Reports have been general during the past week that the Merchants bank will open for business again during the next few weeks and that a satisfactory adjustment is being made of the financial obligations of the institution which required the temporary suspension.
- Source
- newspapers
Newspaper Articles (9)
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Article Text
Alabama Bank Suspends (By The Associated Press. ) MONTGOMERY ALA., Dec. 23.--The Merchants Bank here suspended business today in order to have its affairs overhauled by the State Banking Commission. Directors of the bank issued a statement in which they said the action was taken "in order to protect depositors." The lank is capitalized at $100,000
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Article Text
MERCHANTS' BANK OF MONTGOMERY SUSPENDS MONTGOMERY, Dec. 23,-The Merchants Bank here suspended business today. when its affairs were placed in the hands of H. H. Montgom ery superintendent of the Alabama state banking department. The directors of the suspended institution issued a statement. declaring their action in closing the bank was decided upon "in order to protect the interests of its depositors." The bank was capitalized at $300,000.
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Article Text
MERCHANTS' BANK OF MONTGOMERY SUSPENDS MONTGOMERY, Dec. 23.-The Merchants Bank here suspended business today when its affairs were. placed in the hands of H. H. Montgom+ ery superintendent of the Alabama state banking department. The directors of the suspended institution issued a statement declaring their action in closing the bank was decided upon "in order to protect the interests of its depositors." The bank was capitalized at $300,000.
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Article Text
Montgomery, Ala., Bank Suspends Montgemery, Ala. Dec. 28 - - The Merchants' Bank here suspended business today. and the affairs of the institution were placed in the hands of H. H. Montgomery superintendent of the State Banking Department. Directors of the bank issued R statement declaring that action was decided upon "In order to protest the interests of depositors. The bank is capitalized al $100,000.
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Article Text
MONTGOMERY BANK CLOSES. (By Associated Press.) Montgomery, Dec. 23.-The Merchants bank here suspended business today and the institution was placed in the hands of the state banking department. The directors said this action was taken to protect the interests of the depositors.
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Article Text
BANK IN MONTGOMERY CLOSES. MONTGOMERT, Ala., Dec. 23.-The Merchants Bank here suspended business to-day and its affairs were placed in the hands of H. H. Montgomery. superintendent of the State Banking Department. Its directors issued a statement declaring that the action was decided on "to protect the Interests of depositors." The bank is capitalized at $100,000.
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Article Text
MONTGOMERY BANK SUSPENDS (Associated Press) Montgomery, Ala., Dec. 23.-The Merchants Bank here suspended busiwas ness today and the institution flaced in the hands of the state banking department. The directors said this action was taken to protect the interest of depositors. The bank has a capital of $100,000.
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Article Text
CONSOLIDATION OF TWO MONTGOMERY BANKS ANNOUNCED Alabama Bank and Trust and Capital National to Operate as Alabama Bank and Trust Company By FRED H. GORMLEY Montgomery Bureau The Age-Herald, 221-2 First National Bank Building Montgomery, December 31.-(Special.)-The - consolidation of the Alabama Bank and Trust company and Capital National bank under the name of the Alabama Bank and Trust company was announced by officers of the two Institutions Saturday night. The consolidation will be effective from Saturday and the offices of the new institution will be located in the banking quarters of the Capital National bank. Judge B. P. Crumm, prominent attorney, former judge of the court of appeals and for several years president of the Capital National bank, will be president. The consolidation was brought about by the death of Joseph Hall, who was president of the Alabama Bank and Trust company for many years. Negotiations for the consolidation had been completed before the temporary suspension of the Merchants bank last week. The Alabama Bank and Trust company will begin the new year with a capital of $300,000. Reports have been general during the past week that the Merchants bank will open for business again during the next few weeks and that a satisfactory adjustment is being made of the financial obligations of the institution which required the temporary suspension.