State Bank & Trust Company (Dunn, NC)

Episode Information

Episode UID
66055771479
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
6605577 routing
Routing Number
66-0557
Start Date
March 22, 1923
Location
Dunn, North Carolina (35.306, -78.609)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eb01481703ede96a

Response Measures

None

Events (4)
1. March 22, 1923 Run
Cause
Rumor Or Misinformation
Cause Details
Depositors withdrew funds following rumors; bank had prior financial troubles but rumors were immediate trigger
Measures
None effective; withdrawals precipitated closure by authorities
Newspaper Excerpt
As the result of a run made on the State Bank and Trust company of Dunn Wednesday and Thursday
Source
newspapers
2. March 23, 1923 Suspension
Cause
Government Action
Cause Details
Closed by state corporation commission/chief state bank examiner after the run
Newspaper Excerpt
A notice posted on the door of the bank building ... Bank closed, in the hands of the corporation commission.
Source
newspapers
3. March 28, 1923 Receivership
Newspaper Excerpt
Ex-Congressman H. L. Godwin has been appointed temporary receiver for the State Bank and Trust company, of Dunn, which was closed last Friday, following a run upon it by its depositors
Source
newspapers
4. April 7, 1923 Receivership
Newspaper Excerpt
Former Congressman H. L. Godwin has been appointed by Judge J. Lloyd Horton as permanent receiver of the State Bank and Trust company, of Dunn
Source
newspapers

Newspaper Articles (4)
1. March 24, 1923 News and Record Greensboro, NC
Article from News and Record, March 24, 1923

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Article Text

Dunn Bank Closed Following Heavy Run By the Depositors (Special to Daily News) Dunn, March 23.—As the result of a run made on the State Bank and Trust company of Dunn Wednesday and Thursday the bank did not open for business today. A notice posted on the door of the bank building and signed by Clarence Latham, chief state bank examiner, reads, "Bank closed, in the hands of the corporation commission." Mr. Latham came to Dunn yesterday and after a conference with the officers of the bank it was decided to close it. While no definite figures are obtainable today it is understood that deposits in the bank total around $30,000. The bank has had financial troubles for some time but according to the officers the run was made upon it following some rumors, this being the immediate cause of it being closed. The bank was organized in 1915 and was the youngest of the three banks in Dunn. Von Lippe Goes To Prison. Wereden, March 23.—(By Associated Press.)—Prince Friederich Wilhelm Von Lippe, German nationalist leader, who was recently fined 7,000,000 marks by a French court-martial on a charge of agitating against the forces of occupation, has been sentenced in civil court to eight months imprisonment and a further fine of 500,000 marks. The charge upon which he is to be imprisoned was that he did not immediately produce his passport when ordered to do so by the soldiers who arrested him.

2. March 29, 1923 The Charlotte Observer Charlotte, NC
Article from The Charlotte Observer, March 29, 1923

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Article Text

CONGRESSMAN GODWIN STATE BANK RECEIVER Special to The Observer. DUNN, March 28.—Ex-Congressman H. L. Godwin has been appointed temporary receiver for the State Bank and Trust company, of Dunn, which was closed last Friday, following a run upon it by its depositors. The permanent receiver will be named by Judge J. Lloyd Horton on April 5. The accounts of the defunct bank are being checked by the state corporation commission.

3. April 8, 1923 News and Record Greensboro, NC
Article from News and Record, April 8, 1923

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Article Text

MR. GODWIN NAMED AS BANK'S RECEIVER However, It Is Said There Is No Hope of Reopening the Dunn Institution. (Special to Daily News) Dunn, April 7.—Former Congressman H. L. Godwin has been appointed by Judge J. Lloyd Horton as permanent receiver of the State Bank and Trust company, of Dunn, which was closed on March 22, following a run made upon it by its depositors. Mr. Godwin was named temporary receiver soon after the bank was closed by Judge E. H. Cramner. While the accountants sent here by the Corporation commission to check the records of the bank have not completed the task, it is understood that there is no hope for reopening it. W. Bruce Mabee, boll weevil specialist assigned to the Dunn district by the state department of agriculture, has arrived and entered upon his duties. He will conduct demonstrations in dusting and other methods of fighting the weevil recommended by the department. The Dunn concert band, which disbanded some months ago, was reorganized last night. The following officers were elected: Manager, Jim Farthing; assistant manager, S. C. Godwin; secretary-treasurer, T. V. Smith, Jr. Prof. Mike Rose, of Duke, will direct the band, which will begin practice at an early date. Free open air concerts will be given during the summer months on Lucknow square, in the heart of Dunn. More than 200 chickens and a large number of eggs are being shipped from Dunn daily. Most of the chickens are shipped to the northern markets. This means that more than $200 is coming to Dunn daily from the sale of chickens. The town primary will be held in Dunn on Tuesday, April 17, when a mayor and four town commissioners are to be nominated. Two candidates are in the race for mayor—J. L. Wade, incumbent, and J. W. Whitehead, while two candidates are in the race for commissioner from three of the four wards. So far the campaign is an "issueless" one.

4. April 8, 1923 News and Record Greensboro, NC
Article from News and Record, April 8, 1923

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Article Text

(Special to Daily News) Dunn, April 7.—Former Congressman H. L. Godwin has been appointed by Judge J. Lloyd Horton as permanent receiver of the State Bank and Trust company, of Dunn, which was closed on March 22, following a run made upon it by its depositors. Mr. Godwin was named temporary receiver soon after the bank was closed by Judge E. H. Cramner. While the accountants sent here by the Corporation commission to check the records of the bank have not completed the task, it is understood that there is no hope for reopening it.