Georgia National Bank (Athens, GA)

View Charter #6525 on SPMC View balance sheet

Episode Information

Episode UID
652501504
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
65250 national
Charter Number
6525
Start Date
April 17, 1925
Location
Athens, Georgia (33.961, -83.378)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1970d63a4af91567

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1925-04-17
Date receivership terminated
1937-06-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
59.0%
Share of assets assessed as doubtful
22.9%
Share of assets assessed as worthless
18.0%

Events (5)
1. December 9, 1902 Chartered
Source
historical_nic
2. April 17, 1925 Receivership
Source
historical_nic
3. April 17, 1925 Suspension
Cause
Government Action
Cause Details
Closed by national bank examiners and taken into the hands of the Department of National Banking.
Newspaper Excerpt
The Georgia National was closed earlier in the week by nation bank examiners.
Source
newspapers
4. April 18, 1925 Receivership
Newspaper Excerpt
Former Senator John K. Shields ... was notified yesterday morning of his as receiver for the Georgia National bank, Athens, Ga., now in the hands of the department of national banking, U. S. treasury.
Source
newspapers
5. March 29, 1932 Other
Newspaper Excerpt
A dividend approximating $44,000 was being distributed Tuesday to depositors of the Georgia National Bank by receivers. The payment is the final dividend ... Tuesday's payments amount to 4 per cent.
Source
newspapers

Newspaper Articles (8)
1. April 18, 1925 The Knoxville Journal Knoxville, TN
Article from The Knoxville Journal, April 18, 1925

Click image to open full size in new tab

Article Text

SENATOR SHIELDS BANK'S RECEIVER Former Senator John K. Shields, of Clinchdale and Knoxville, was notified yesterday morning of his as receiver for the Georgia National bank, Athens, Ga., now in the hands of the department of national banking, U. S. treasury. Senator Shields has notified the comptroller of his of the appointment and leaves Knoxville Sunday to reach Athen@ in time to take duties of the The Georgia National was closed earlier in the week by nation bank examiners. For years It has of the strongest banks in that Georgia, having of four million dollars or more. At this time it was not possible for Senator Shields to estimate the length of time required to liquidate the affairs of the institution. He is well equipped to handle the tion by reason of his legal and judi. cial training and legislative of finance and the banking laws, while in the senate. Since his return to Clinchdale the former senator has actively entered on the practice of law and is now in the people of Morris town and Corryton in an effort to restrain the Southern abandoning the and B. line, before the public utilities which is conducting the hearing for the C.

2. April 19, 1925 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, April 19, 1925

Click image to open full size in new tab

Article Text

EX-SENATOR SHIELDS ATHENS BANK RECEIVER Chattanooga Times Special. KNOXVILLE, Tenn., April 18John K. Shields, former United States Senator, of Clinchdale and Knoxville. has been appointed receiver for the Georgia National bank at Athens, now in the bands of the United States treas ary department. Senator Shields will leave Knoxville Sunday for Athens and will take up his duties as receiver Monday.

3. August 2, 1925 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, August 2, 1925

Click image to open full size in new tab

Article Text

Branch of Lane Bank Is Opened at Athens; Directors Announced Athens, August 1.—A local branch of the Citizens and Southern bank opened here today with Mills B. Lane, president, and several other officials in attendance. Directors of the local office announced today are: Dr. Andrew M. Soule, president of the State College of Agriculture; Howell C. Erwin, local attorney; Mills B. Lane, C. M. Power, H. Lane Young and R. V. Watterson, formerly of Savannah, cashier. Shortly after the opening of the bank the stockholders and depositors of the defunct Georgia National bank, at a public meeting, ratified a plan worked out by a committee headed by Andrew C. Erwin whereby the affairs of the bank will be liquidated by a holding company without a permanent receivership. The Citizens and Southern bank also will aid in the liquidation of the American State bank, which suspended business in April. Fort Valley Ships Melons. Fort Valley, Ga., August 1.—(Special.)—The Fort Valley territory had shipped through Thursday 60 cars of watermelons. The shipment of peaches from here reached 3,103 cars, including four cars loaded Thursday. headquarters from his wife. "This is the first time he has ever failed to come home," she told detectives as she expressed the opinion that he had met with foul play. She had tried to find him at all the hospitals in town before appealing to the police for aid. JOSEPH D. SPARKS VISITING IN ATLANTA Joseph D. Sparks, of Washington, D. C., who has had charge of one of the annexes of the treasury department of the United States since 1894, is visiting friends and relatives in Atlanta, and will be the honor guest at a picnic today in Rockdale county. Mr. Sparks is a cousin of Alderman Jesse W. Armistead. While in Atlanta Mr. Sparks will be the guest of J. M. B. Goode on Whitefoord avenue. Reward for Slayer. Governor Clifford Walker Saturday offered a reward for the arrest and conviction of Oscar Mars, who is charged with murdering his wife in Fitzgerald, Ga., on July 26 last. Mars was an employee in a cotton mill and, after shooting his wife, escaped and his whereabouts is now unknown, it is said. Washington Park Concert. The Do. Ko. band, under direction of B. C. Ridley, will give a concert this afternoon at Washington park for colored people from 4 to 6 o'clock.

4. August 2, 1925 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, August 2, 1925

Click image to open full size in new tab

Article Text

Citizens and Southern Athens Branch Bank Is Opened Saturday ATHENS, Aug. 1.—(AP)—A local branch of the Citizens' and Southern bank opened here today with Mills B. Lane, president, and several other officials in attendance. Directors of the local office were announced today as being Dr. Andrew M. Soule, president of the State College of Agriculture; Howell C. Erwin, local attorney; Mills B. Lane, C. M. Power, H. Lane Young and R. V. Watterson, formerly of Savannah, cashier. Shortly after the opening of the bank the stockholders and depositors of the defunct Georgia National bank, at a public meeting, ratified a plan worked out by a committee headed by Andrew C. Erwin whereby the affairs of the bank will be liquidated by a holding company without a permanent receivership. The Citizens' and Southern bank also will aid in the liquidation of the American State bank, which suspended business in April.

5. January 26, 1926 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, January 26, 1926

Click image to open full size in new tab

Article Text

Athens Bank Receiver Ordered to Turn Assets To Securities Company Washington, January 25 (Special Representative Brand of has obtained from the whereby of the Georgia National bank at Athens, has been authorized and directed to turn over the assets bank the Georgia Securities which holding company formed of Judge Brand had with the the days ago that such authority be granted and such direction be given to the receiver. These the unauthority of Judge Grubbs. Birmingham. who the in 28, when he the ceiver the of the Georgia National bank to the Georgia Securities company While currently reported that the objectors would take excepof Judge Grubb. Representative Brand urged upon the comptroller the acting without delay, the had made the that he would not the assets the bank the holding during the within which an appeal might be taken by the objectors. unless ordered by the comptroller do so.

6. March 29, 1932 The Valdosta Daily Times Valdosta, GA

Article Text

DISTRIBUTED ATHENS, Ga. March 29 dividend approximating $24,was being distributed today depositors the Georgia National bank by receivers. The payment is the final dividend Hill succeeded Anderson under whose cent dividend paid

7. March 29, 1932 The Atlanta Journal Atlanta, GA

Article Text

Dividend of $44,000 By Georgia National ATHENS, Ga., March 29.-(P)-A dividend approximating $44,000 was being distributed Tuesday to depositors of the Georgia National Bank by receivers. The payment is the final dividend to be made by Mrs. Alvie Hill, who succeeded E. F. Anderson, under whose receivership 10 per cent dividend was paid depositors. Tuesday's payments amount to 4 per cent. Dividend payments in the future will be paid by the Georgia Securities which controls that part of the assets of the bank which were not retained under jurisdiction of the receiver.

8. March 30, 1932 The Atlanta Constitution Atlanta, GA

Article Text

Georgia News Told in Brief Port News. March 29. Arrived: City of Birmingham, Boston and New York; Coldwater, CharlesSailed: Atlantian, Br., Liverpool via $44,000 Dividend Paid. ATHENS, Ga., March dividend $44,000 was being distributed today to depositors the Georgia National bank by receivers. The payment is the final dividend to be made by Mrs. Alvie Hill, succeeded Anderson, under whose 10 per cent dividend was paid depositors. The payments amount to 4 per cent. New Yorker Critically III. Ga., March 29. Alvah K. Lawrie, of New York, critically ill with umonia at his winter Boxhall Plantation, two from where he and his family have been for several Grain for Macon Needy. MACON, March alof 741,696 pounds of flour has been made Macon from the grain stabilization corporation for tribution among the needy. Official notification of the grant was received by Usher T. Winslett, chairman of the Macon chapter of the Red Cross and general chairman of the central distributing committee. $100 for Storm Relief. ROME, Ga., March $100 bill was added to funds of the Complete with shade local Red Cross chapter Tuesday for relief of storm sufferers by an anonymous The ibutor mailed it with an unsigned note stating many blessings had been bestowed the sender "and want to do something in return for someone else.' Freed Under $5,000 Bond. SA Ga. March (AP) Henry Shoenfield, the third man sought locally by federal authorities in connection with an alleged automobile theft ring, furnished $5,000 bond today before United States commissioner. Shoenfield and the two others under bond for alleged violation of the national motor vehicle theft act, Ben Blumberg and Israel Goldberg. will be given hearing in court Friday morning at 10 o'clock.