Citizens Bank (McHenry, MS)

Episode Information

Episode UID
85044671565
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8504467 routing
Routing Number
85-0446
Start Date
May 22, 1930
Location
McHenry, Mississippi (30.708, -89.138)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
547a7f41ac9bdd28

Response Measures

None

Description

Articles describe the bank's closing in 1930 and subsequent civil suit over lost county deposits.

Events (1)
1. May 22, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed/closed and ceased operations, leaving county deposits unsecured.
Newspaper Excerpt
the Citizens Bank of McHenry ... suspended operation.
Source
newspapers

Newspaper Articles (3)
1. May 21, 1932 Hattiesburg American Hattiesburg, MS

Article Text

SUPERVISORS AND SURETY HELD LIABLE Civil Suit in Stone Circuit Court Ends in Victory for County WIGGINS, May 21.—(Special)—The Stone county board of supervisors and their surety, the United State Fidelity and Guaranty company, were held accountable in a civil suit decided late Friday in circuit court here, for the loss of Stone county funds, deposited in the Citizens Bank of McHenry during the year 1929 and to May 22, 1930, when the bank suspended operation. The decision of the jury came on peremptory instructions by Judge Walter A. White, after an all-day examination of witnesses for the county by District Attorney W. M. Colmer, and cross-examination by U. B. Parker, counsel for the supervisors and the surety company. Mr. Parker made repeated objections to questions asked by the district attorney, most of which were overruled by the judge. Carlton Sparks, clerk in the McHenry bank at that time, and Chancery Clerk Floyd McHenry, as

2. May 21, 1932 Hattiesburg American Hattiesburg, MS

Article Text

Carlton Sparks, clerk in the McHenry bank at that time, and Chancery Clerk Floyd McHenry, as custodian of the board of supervisors' records, were the chief witnesses Thursday afternoon. This testimony was continued Friday. These records disclosed that the Citizens Bank of McHenry was used as a depository for Stone county funds, showing the amounts deposited, and a balance of $54,901.15, at the time the bank closed its doors. No record of any securities for these funds were found by the chancery clerk. O. E. Batson, who was sheriff at that time, was called to identify receipts for deposits made each (Continued on Page Eight)

3. May 21, 1932 Sun Herald Biloxi, MS

Article Text

Group Held Liable For Funds Lost When McHenry Bank Closed Wiggins, county, through District Attorney W. M. Colmer against five former of the Stone board of supervisors and United States Fidelity and Guarantee Company, surety on their official bonds for of county funds involved in the failure about three years ago of the Citizens Bank of McHenry, county depository, tried here this week ended yesterday when Circuit Judge Walter White rected verdict in favor of the ty. The suit originally involving claim for $54,000, the amount county funds alleged to have been on deposit the time the bank failure without the bank having been required furnish the proper curity was brought down to $35,000 by payments said have been made by bank since its closing, was said. The judgment ordered by the court when motion directed plaintiff was sustained following two full days trial held the former board members, Switzer, Walton, W. Smith, Lott and Bond and their surety liable the amount $32,500 additional judgment $2,580 against the former board members. CASE HARD FOUGHT The county's was vigorously contested throughout by the defense through Parker, counalso sought but failed obtain peremptory for the Throughout the day yesterday, Distriet Attorney Colmer, by County Prosecuting Attorney Buren Broadus, offered evidence show county funds from time time been deposited the bank which receipts had been given The judgment totaling the total tained by the county in the bank's failure. Trial of the of interest the former cials the further fact that the fendants had criminal charges with county funds failed bank. The jury that tried them had exonerated them culpable negligence, but had nounced them negligent very unique verdict that amounted to acquittal. Considerable difficulty tered jury competent the also owing former being acquainted throughout confines county nearly the day was consumed in filling the panel Calling each of the individual fendants stand verse District Attorney Colmer brought from each that knew security bank given protect county deposits.