Peoples National Bank - Prosperity, SC

Episode Information

Episode UID: 699401503
Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 69940 national
Charter Number: 6994
Start Date: March 14, 1925
Location: Prosperity, South Carolina (34.209, -81.533)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 109fa0e5e0e37c9a

Response Measures

Capital injected, Full suspension, Books examined

Description

Bank closed March 14 after a steady run and assets taken by a newly organized national bank.

Events (6)

1. October 12, 1903 Chartered

Source: historical_nic

2. March 14, 1925 Receivership

Newspaper Excerpt: The bank has since been in the hands of J. G. Reading, national bank examiner.
Source: newspapers

3. March 14, 1925 Run

Cause Details: Article reports a steady run but gives no specific trigger or rumor.
Newspaper Excerpt: the old bank, which was forced to close its doors March 14, following a steady run.
Source: newspapers

4. March 14, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closure followed sustained withdrawals; bank placed in hands of national bank examiner.
Newspaper Excerpt: the old bank, which was forced to close its doors March 14, following a steady run.
Source: newspapers

5. May 23, 1925 Other

Newspaper Excerpt: The Peoples National Bank of Prosperity, now reorganized as the Citizen's National Bank of Prosperity has completed the sale of stock subscriptions.
Source: newspapers

6. July 9, 1925 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. May 24, 1925 The Sunday Record Columbia, SC

Article from The Sunday Record, May 24, 1925

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Article Text

ORGANIZE NEW POST OF AMERICAN LEGION (Special to The Record) PROSPERITY, S. C., May 23.—The Peoples National Bank of Prosperity, now reorganized as the Citizen's National Bank of Prosperity has completed the sale of stock subscriptions. The new bank will take over the assets of the old bank, which was forced to close its doors March 14, following a steady run. The bank has since been in the hands of J. G. Reading, national bank examiner. The capital of the new bank is $50,000 with surplus of $5,000. The bank has approximately 150 stockholders. At a meeting held Friday morning the following directors were elected: J. D. Wheeler, D. H. Ham, L. A. Black, J. A. Price, Dr. J. I. Bedenbaugh, Dr. E. N. Kibler and J. W. George The treasury has been notified that a new bank had been organized to take over the Peoples National, and it is hoped that the preliminary work will be finished in a week or ten days, when officers will be elected and an application for a charter be made.