gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
72f0f09a35ffee7d
Response Measures
None
Description
Failure tied to funds locked up at Thomasville depository; articles show inconsistent capital figures.
Events (2)
1.August 24, 1921Suspension
Cause
Correspondent
Cause Details
Funds of the Denton bank were locked up at its depository in Thomasville after the Thomasville bank was closed, forcing Denton to suspend payments.
Newspaper Excerpt
The Bank of Denton ... was closed today by state examiner Newbold ... funds of the latter locked up [at Thomasville] forced a suspension of payments yesterday afternoon.
Source
newspapers
2.September 8, 1921Receivership
Newspaper Excerpt
the Commission named ... Arthur Ross receiver for the Bank of Denton. ... placed ... in the hands of temporary receivers . . . to show cause why the temporary receiverships should not be made permanent . . . the defunct Bank of Thomasville and Bank of Denton, now in the hands of receivers.
Source
newspapers
Newspaper Articles (11)
1.August 24, 1921The Daily TimesWilson, NC
Click image to open full size in new tab
Article Text
OST YET UNCERTAIN ited States from Great Britain e Attempted a Flight Across Details as to the Dead and Inragedy Have Not Been Learned THOMASVILLE BANK CAUSES ANOTHER FAILURE. Lexington, Aug. 24.-The bank of Denton at Denton 20 miles east of here was closed today by state examiner Newbold. The bank of Thomasville which was closed Monday was a depository for the Denton bank and funds of the latter locked up there forced a suspension of payments yesterday afternoon. The Denton bank has a capital of $25,000 and surplus of $4,000. It is stated all depositors will be paid in full.
NORTH CAROLINA BANK CLOSED; FUNDS SHORT (By The Associated press.) GREENSBORO, N. C., Aug. 24.-The Bank of Denton, located in Davidson county, 20 miles from Lexington, was closed this morning by State Bank Examiner H. L. Newbold after an investigation of its affairs and following a suspension of payments by the bank yesterday afternoon. The Bank of Denton during the past year increased its capital from $10,000 to $15000, and had a surplus of $4,000.
3.August 25, 1921Evening StarWashington, DC
Click image to open full size in new tab
Article Text
EXAMINER CLOSES BANK. GREENSBORO, N. C., August 25.The Bank of Denton, located in Davidson county, twenty miles from Lexington, was closed yesterday by State Bank Examiner H. L. Newbold, after an investigation of its affairs and following a suspension of payments by the bank Tuesday afternoon. The bank during the past year increased its capital from $10,000 to $25,000 and had a surplus of $4,000.
4.September 8, 1921The Daily TimesWilson, NC
Click image to open full size in new tab
Article Text
RECEIVERS APPOINTED FOR TWO DEFUNCT ANKS Raleigh, Sept. 8. .-Efforts loking toward the reorganization o the Bank of Thomasville and the Bank of Denton, both of which were cosed up by the Corporation Commision two weeks ago, fell flat yesterday and the Commission named T J. Finch receiver for the Thomasville bank and Arthur Ross receiver fr the Bank of Denton. The Denton bank was relatively small but the failure at Thomasville involves approximately a half millionn dollars. Its disaster is attributed to the fact that too many bad loans were made, many of them to concerns in which the president, J. L. Armfield, was interested. His business lost heavily, and he was unable to meet his obligations to his bank. The receiver for the Thomasville bank was formerly sheriff of Davidson county and is now president of the National Bank at that place. Definite statement of the condition of the bank, and the probability of its being able to liquidate without loss, has not yet been made by the bank examiner in charge.
5.September 9, 1921Evening StarWashington, DC
Click image to open full size in new tab
Article Text
RECEIVERS FOR BANK. Two North Carolina Institutions Are Closed. GREENSBORO, N. C., September 9.In superior court here Judge James L. Webb, upon the recommendation of the state corporation commission, signed orders placing the Bank of Thomasville and the Bank of Denton, which recently were closed by a state bank examiner, in the hands of temporary receivers. T. J. Finch of LexIngton was appointed receiver for the Thomascille bank and J. Arthur Ross for the Denton bank. Attorneys for the two banks were ordered to appear before Judge Webb here September 14 to show cause why the temporary receiverships should not be made permanent.
TWO NORTH CAROLINA BANKS UNDER RECEIVER (By the Associated Press) GREENSBORO, N. C., Sept. 8-In superior court here today, Judge James L. Webb, upon the recommendation of the state corporation commission, signed orders placing the Bank of Thomasville and the Bank of Denton, which recently were closed by a state bank examiner, in the hands of temporary receivers. T. J. Finch, of Lexington, was appointed receiver for the Thomasville bank, and J. Arthur Ross, for the Denton bank. Attorneys for the two banks were ordered to appear before Judge Webb here September 14 to show cause why the temporary receiverships should not be made permanent.
7.September 15, 1921The ReviewHigh Point, NC
Click image to open full size in new tab
Article Text
Receivers Named for Banks in Davidson In Superior court last week Judge James L. Webb, upc the recommendation of the State Corporation Commission, signed orders placing the Bank of Thomasville, and the Bank of Denton, which were reently closed by a state bank examiner, in the hand of temporary receivers. T. J. - Finch, of Thomasville, was appointed receiver for the Thomasville bank and J. Arthur Ross for the Denton bank. Attorneys for the banks were ordered to appear before Judge Webb here September- 14 to show cause why the temporary receivers should not be made permanent.
8.November 17, 1921Cheraw ChronicleCheraw, SC
Click image to open full size in new tab
Article Text
Reward For Bank President. Raleigh, N. C.-Governor Morrison authorized $400 reward for the apprehension of Jesse L. Armfield, former president of the defunct Bank of Thomasville and Bank of Denton, now in the hands of receivers.
9.November 17, 1921The ReviewHigh Point, NC
Click image to open full size in new tab
Article Text
Reward For Bank President. Raleigh, N. C.-Governor Morrison authorized $400 reward for the apprehension of Jesse L. Armfield, former president of the defunct Bank of Thomasville and Bank of Denton, now in the hands of receivers.
Reward For Bank President. Raleigh, N. C.-Governor Morrison authorized $400 reward for the apprehension of Jesse L. Armfield, former president of the defunct Bank of Thomasville and Bank of Denton, now in the hands of receivers.
DENTON TO HAVE BANKING HOUSE
New Financial Institution Will be Opened for Business This Week
T. J. FINCH ORGANIZER
Organization Plan Laid With Thomasville Men
(Special to The Journal)
Thomasville, Feb. 19.—T. J. Finch, of Thomasville, and associates will open the Carolina Bank & Trust company at Denton this week, according to The Chairtown News. This will give Denton full banking facilities for the first time in a year and a half and is expected to lend impetus to the town's growth.
Mr. Finch is president of First National Bank of Thomasville, which until a few months ago had occupied the unique position of having the field to itself at Thomasville. The institution recently completed and now occupies a handsome new bank building. It is recognized as one of the strong institutions of this section. Mr. Finch is also a successful manufacturer and farmer. Arthur Ross, who is associated with Mr. Finch and J. F. Garner, in organizing the new bank, was receiver for the Bank of Denton. He has also taken great interest in the rehabilitation of the High Point, Thomasville and Denton railway. Mr. Finch is also a large stockholder in that company and gave valuable aid in organizing the company that now owns it.
The following story from Thursday's Chairtown News tells about the plans for opening the new bank:
"Denton is to have a bank. The news came to light this morning when the state papers carried an item from Raleigh that the corporation commission had granted the Carolina Bank & Trust company of Denton, N. C., a charter permitting it to do a general banking and trust business, the incorporators being, Arthur Ross, T. J. Finch and J. F. Garner and others.
"The business men of Denton will subscribe liberally to the stock they state, as well as the farmers throughout that section.
"The building formerly occupied
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
