Citizens Bank (Pulaski, TN)

Episode Information

Episode UID
87013471578
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8701347 routing
Routing Number
87-0134
Start Date
June 1, 1931*
Location
Pulaski, Tennessee (35.200, -87.031)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
21ca35f1f964709b

Response Measures

None

Description

Bank closed following president's suicide and discovery of alleged embezzlement; later receiver litigation.

Events (4)
1. June 1, 1931* Receivership
Newspaper Excerpt
D. D. Robertson, receiver of the Citizens Bank of Pulaski ... Following Abennathy's suicide an investigation resulted in the closing of the bank and appointment of receiver.
Source
newspapers
2. June 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank president William L. Abernathy Jr. committed suicide in June 1931; subsequent investigation uncovered alleged dishonest and fraudulent conduct and large losses.
Newspaper Excerpt
Following Abennathy's suicide an investigation resulted in the closing of the bank and appointment of receiver.
Source
newspapers
3. August 31, 1932 Other
Newspaper Excerpt
Suit for collection of a bond of $25,000 ... by D. D. Robertson, receiver of the Citizens Bank of Pulaski. The Surety company has refused to pay the amount of the bond, states Robertson in his bill.
Source
newspapers
4. January 15, 1933 Other
Newspaper Excerpt
PULASKI BANK RECEIVER GETS $60,000 VERDICT ... contentions of D. D. Robertson, as receiver for the defunct Citizens Bank of Pulaski.
Source
newspapers

Newspaper Articles (2)
1. August 31, 1932 The Tennessean Nashville, TN

Article Text

BANK RECEIVER SEEKS TO SECURE SURETY BOND Suit for collection of a bond of $25,000 with interest was filed Tuesday afternoon with the federal district clerk against the American Surety company of New York by D. D. Robertson, receiver of the Citizens Bank of Pulaski. The Surety company had bonded the late William L. Abernathy, Jr., bank president who committed sulcide in the bank vault in June, 1931, against dishonesty, embezzlement, or fraud, according to the bill. Following Abennathy's suicide an investigation resulted in the closing of the bank and appointment of receiver. It was also learned, according to the suit, that the bank had sustained great losses in excess of $25,000 through "dishonest and fraudulent conduct" of Abernathy. The Surety company has refused to pay the amount of the bond, states Robertson in his bill. There were about pages devoted to an enumeration of the various transactions of Abernathy to prove his alleged dishonesty

2. January 15, 1933 The Tennessean Nashville, TN

Article Text

PULASKI BANK RECEIVER GETS $60,000 VERDICT COLUMBIA, Jan. contentions of D. D. Robertson, as receiver for the defunct Citizens Bank of Pulaski. in his suit against B. F. McGrew, Giles countian, involving part and denied part here today by Judge Lytle The state banking commissioner. receiver for the failed institution. account the alleged cotpartnership that existed the late sought cover some from the viving impound and collect for the bank for McGrew some insurpolicies collected on the life Abernathy by McGrew. In the rendered. the bill given the except allowed the 000 life insurance had been from McGrew Abernathy) and other claims of the receiver The case on whether the McGrew and had been dissolved bank Itself. which Abermathy president. such notice the dissolution would relieve surviving Abernathy, prominent the the bank building years He and McGrew had been this cotton buying using McGrew's capital. years, and the partnership was reported have heavily falling cotton market. Indications today were the the chancellor would announcement effect