Lebanon National Bank (Lebanon, TN)

View Charter #8714 on SPMC View balance sheet

Episode Information

Episode UID
871401502
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
87140 national
Charter Number
8714
Start Date
February 13, 1925
Location
Lebanon, Tennessee (36.205, -86.346)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5f2f3eed5a774c31

Response Measures

None

Receivership Details

Depositor recovery rate
43.8%
Date receivership started
1925-02-13
Date receivership terminated
1928-04-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
8.2%
Share of assets assessed as doubtful
54.4%
Share of assets assessed as worthless
37.4%

Description

Articles describe the bank's prior closing by the state banking department and subsequent receivership; coverage focuses on embezzlement suit against the former cashier.

Events (4)
1. May 29, 1907 Chartered
Source
historical_nic
2. February 13, 1925 Receivership
Source
historical_nic
3. February 13, 1925 Receivership
Newspaper Excerpt
G. M. Trammell ... receiver of the Lebanon bank, is said to be preparing to file a civil suit in federal court here involving the double liability of stockholders.
Source
newspapers
4. February 13, 1925 Suspension
Cause
Government Action
Cause Details
Closed by order of the state banking department several months before Aug 1925
Newspaper Excerpt
the bank prior to its closing upon order of the state banking department several months ago
Source
newspapers

Newspaper Articles (3)
1. August 18, 1925 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, August 18, 1925

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Article Text

ISSUED FOR HALE the Depositors And Stockholders File Suit Against Him For Embezzlement of Funds NASHVILLE, TENN., Aug. Hale, former cashier of the Lebanon National Bank, returned to Lebatoday from Florida, eleven warrants, charging embezzleforgery and breach trust. by stockholders in the bank prior closing upon state banking department several months Hale under bond of after return Lebanon. the cashier Florida shortly before the compelled its created considerable excitement signed by ten prominent citizens Wilson county, which is the county Hale was brought back by Bev Spickard, especially sworn for At the the grand Attorney General Mitchell, since named judge, did not indictment the grounds that insufficient evidence been general, Ernest H. said have differhe has nounced whether recommend indictment The grand and is said probTrammell, of Nashville, formerly tional Bank here, of the bank, said be preparing file the double liability of stockholders.

2. August 18, 1925 The Knoxville Journal Knoxville, TN
Article from The Knoxville Journal, August 18, 1925

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Article Text

FORMER CASHIER FACES 11 COUNTS Will T. Hale Brought To Lebanon From Florida. $10,000 Bond Made. NASHVILLE, Aug. 17.—(AP).—Will T. Hale, former cashier of the Lebanon National bank, was returned to Lebanon today from Florida on 11 state warrants charging embezzlement, forgery and breach of trust. The warrant were sworn out by Lebanon citizens who were depositors and stockholders in the bank prior to its closing upon order of the state banking department several months ago. Hale was released under bond of $10,000 soon after his return to Lebanon. The return of the former cashier, who left for Florida shortly before the bank was compelled to close its doors, aroused considerable excitement in Lebanon. The bond was signed by ten prominent and wealthy citizens of Wilson county, of which Lebanon is the county seat. Hale was brought back by Bev Spikard, who was especially sworn in for this duty. At the last session of the grand jury, Attorney General Ridley Mitchell, who has since been named judge, did not recommend an indictment, on the grounds that insufficient evidence had not been produced. The new attorney general, Ernest H. Boyd, is said to have taken a different viewpoint, however, he has not announced whether he will recommend an indictment or not. The grand jury is now in session and is said to be probing the case. G. M. Trammell, of Nashville, formerly comptroller of the American National Bank here, receiver of the Lebanon bank, is said to be preparing to file a civil suit in federal court here involving the double liability of stockholders.

3. August 18, 1925 Nashville Banner Nashville, TN
Article from Nashville Banner, August 18, 1925

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Article Text

STOCKHOLDERS OF LEBANON BANK SUED Receiver Brings Action in Federal Court Against Twenty-Four. Subpoenas will be served this afternoon twenty-four shareholders of the defunct Lebanon National Bank by United Marshal R. Lil lard the bill by G. M. for the seeking to force the liability of the amount of the orders of the troller the United currency States. The filed clerk States District Court by Monday Mr. On March months after the an made acting the who to enfroce liability the was for which paid the Ten in full but refused the filing bill in Federal to compel the The set out that total debts the the and this amount $62. which was turned over comptr benefit The bill prayed that the the of the and further that on final hearing be prayed and directed the ants be liable for the the par the capital stock 1925 The bill also decree in of the be entered each defendants named in the bill Beasley Miss Bettle Jones, Sarah Earl but funny Herbert McDaniel, Bond of vidson county, Mrs. Emma Jones Maury Mrs. Coe Lakeland. Mrs. Hale San Miami, Antonio, Lanier and Owen Aubrey St. Mo. Rachel Truex of Mt. Vernon,