Rockmart Bank (Rockmart, GA)

Episode Information

Episode UID
64039871519
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
6403987 routing
Routing Number
64-0398
Start Date
July 15, 1926
Location
Rockmart, Georgia (34.003, -85.042)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
287efcdf36280407

Response Measures

None

Events (2)
1. July 15, 1926 Suspension
Cause
Correspondent
Cause Details
Closure followed bankruptcy proceedings against Bankers Trust Company of Atlanta, the financing/correspondent for a chain of banks, precipitating closures.
Newspaper Excerpt
The Georgia banks listed as closed today were: ... Rockmart Bank
Source
newspapers
2. September 14, 1926 Reopening
Newspaper Excerpt
Fifteen Georgia banks which were closed with the failure of the Bankers' Trust Co. of Atlanta, have re-opened as separate and independent institutions ... The 15 banks that have already been reopened are: ... Rockmart Bank .
Source
newspapers

Newspaper Articles (3)
1. July 16, 1926 The Miami Herald Miami, FL
Article from The Miami Herald, July 16, 1926

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Article Text

NAME BANK RECEIVERS Take Charge of Trust Company In Georgia Heading Chain; 19 More Banks Close. [BY THE ASSOCIATED PRESS.] ATLANTA, July 15.—Fifteen additional state banks in Georgia and four state banks in Florida tonight were listed as having closed their doors following the bankruptcy proceedings instituted against the Bankers Trust Company of Atlanta. This brought the total number of banks closed in Georgia this week to 64. Receivers for the Bankers Trust Company were named today. The closing generally among financial circles was attributed to the bankruptcy proceedings against the trust company, which was the financing company for a string of 120 chain banks. The four Florida banks were reported to have been members of the system. Many of the banks, the department said, probably would reopen as soon as other financing arrangements could be made. The Georgia banks listed as closed today were: Taylor County Bank, Butler; Bank of Lyerly, Bank of Cusseta, Rockmart Bank, Bank of Smyrna, Fairmount Bank, Macon County Bank of Oglethorpe, Lakewood Bank of Atlanta, Bank of Rochelle, Habersham Bank of Clarkesville, Cornelia Bank of Cornelia, Bank of Lula, Bank of Cassville, Bank of Williamson and the Cornelia Bank of Demarest. The four Florida banks reported closed were the Citizens Bank of Eustis, Bank of Mount Dora, Bank of Tavares and the Bank of Umatilla, each of which through notices posted on their doors announced that they were "closed temporarily for the protection of depositors." The Bank of Umatilla Tuesday instituted a suit against the Bankers Trust Company of Atlanta for more than $400,000, applying for a receivership for the company. Former Governor Hugh M. Dorsey and J. K. Ottley of the Fourth National Bank of Atlanta were designated as receivers for the Bankers Trust Company. The trust company served as financial agent for 120 banks, Paul J. Baker, its treasurer, told the court, but did not receive deposits subject to check.

2. July 21, 1926 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, July 21, 1926

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Article Text

# MORE BANKS IN GEORGIA CLOSE IN BIG CRASH Four in Florida Shut; Checks Refused ATLANTA, Ga., July 19. — Four Florida banks have closed their doors in addition to the long list of those in the hands of receivers in Georgia, to which 15 were added Thursday and four more Friday morning, according to the state bank examiners. An amazing state of affairs is disclosed by the listing of the banks' total resources and liabilities, illustrating the unsoundness of their financial dealings. Those made public Thursday are as follows: Taylor County Bank, resources $15,000, liabilities $224,679; Bank of Lyerly resources $15,000, liabilities $236,670; Bank of Cusetta, resources $15,000, liabilities $174,236; Rock Mart Bank, $30,000 and $412,989; Bank of Smyrna, $16,300 and $204,179, and a long list of others with similar small resources and immense liabilities. WASHINGTON, D. C., July 19. — Only by intercession of J. W. McIntosh, comptroller of the currency, have the eastern financial corporations of the big bankers agreed to take checks on Florida banks. They have previously been using stickers attached to their correspondence stating "We do not accept Florida checks."

3. September 14, 1926 Evening Star Washington, DC
Article from Evening Star, September 14, 1926

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Article Text

15 GEORGIA BANKS RESUME BUSINESS 12 Others to Reopen This Week as Independent Institutions, Official Says. By the Associated Press. ATLANTA. September 14.-Fifteen Georgia banks which were closed with the failure of the Bankers' Trust Co. of Atlanta, have re-opened as separate and independent institutions, and 12 others will be re-opened within the next week, State Banking Department officials here announced. The total resources of the reopened banks within the next week will be one-third of that of all the Georgia banks that closed this Summer, W. J. Davis. general agent for the State Banking Department. declared. The total resources of the closed banks. he pointed out. was $18,000,000. while that of the re-opened banks will be $6,000,000. The 15 banks that have already been reopened are: State Bank of Cochran. Bank of Hazelhurst. Bank of Stapleton. Rockmart Bank. Habershaw Bank of Clarkesville. Cornelia Bank. Demorest Branch of Cornelia Bank. Bank of Lulu. Merchants and Planters: Bank at Whigham. Exchange Bank at Sycamore, Bank of Adairsville. Farm ers and Merchants' Bank at Rebecca. Planters, Bank Pavo. Turner Coun tv Bank at Ashdown. and Lakewood Bank of Atlanta. The latter, while not a member of the Bankers' Trust Company chain. was forced to close on account of a run after the trust company's failure. Mr. Davis pointed out.