First National Bank (Prattville, AL)

Episode Information

Episode UID
905501577
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
90550 national
Charter Number
9055
Start Date
May 28, 1931
Location
Prattville, Alabama (32.464, -86.460)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3522a85a04664861

Response Measures

None

Receivership Details

Depositor recovery rate
13.9%
Date receivership started
1931-06-01
Date receivership terminated
1935-09-23
Share of assets assessed as good
19.3%
Share of assets assessed as doubtful
55.3%
Share of assets assessed as worthless
25.3%

Description

Articles report bank failed to open (May 1931) and a liquidating agent; later reporting and indictments indicate permanent closure/receivership.

Events (6)

1. March 4, 1908 Chartered
Source
historical_nic
2. May 28, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Officials attributed closing to frozen assets indicating insolvency/asset problems.
Newspaper Excerpt
Ala. (Special.) second bank suspension within a year occurred Thursday when the First National bank, of Prattville, failed to open its doors.
Source
newspapers
3. June 1, 1931 Receivership
Source
historical_nic
4. June 1, 1931 Receivership
Newspaper Excerpt
liquidating agent of the closed First National ... (reports identify bank as closed and having a liquidating agent).
Source
newspapers
5. June 4, 1931 Other
Newspaper Excerpt
Liquidating Agent Of Closed Prattville Bank Found Mortally Wounded ... agent of the closed First National who wounded ... found mortally wounded ... letter said he had decided to end his life because of financial difficulties.
Source
newspapers
6. June 11, 1931 Other
Newspaper Excerpt
Allen Northington and Ed Northington, of the closed First National Bank of Prattville, bound over Federal Grand Jury ... The Prattville bank was closed last week.
Source
newspapers

Newspaper Articles (6)

Article Text

BANK AT PRATTVILLE FAILS TO OPEN DOORS Ala. (Special.) second bank suspension within a year occurred Thursday when the First National bank, of Prattville, failed to open its doors. Officials of the institution assigned the closing to frozen assets. The state bank examiner was notified Thursday morning. Experiments with tangerine juice as a beverage are being made in Florida.


Article Text

SUICIDE IS VERDICT IN DECATUR MAN'S DEATH FROM SHOT Liquidating Agent Of Closed Prattville Bank Found Mortally Wounded coroner's Thursday returned verdict of suicide for W. G. Roper, 40. Decatur, agent of the closed First National who wounded the diWednesday night on dispelled the doubts his taking his own life. the letter addressed his Roper he had cided to his nancial and decision. The text the letter not public Roper here from Deca tur accompanied Ernest Moralso short time before was found with hole temple, slumped over the He lived hours ter he was found, but did not regain The body was sent to Decatur for burial.


Article Text

IN RECEIVER DEATH Letter Found On Person Dispels Doubts Of Killing Prattville, Ala., June A coroThursday returned in the death Roper, of Decatur, Ala., liquidating agent of the closed First National Bank here, who was found mortally wounded in the Vednesday night. letter found on Roper's person dispelled the doubts to his ing his own In the letter dressed to his wife, Roper said had decided to his life cause of financial difficulties and expressed regret over his dicision. test of the letter was not made public.


Article Text

BANK RECEIVER IS SHOT TO DEATH Pistol Discovered Beside Victim In Prattville After Failure Prattville, Ala., June Roper, of Decatur, Ala., about 40, liquidating agent for the First National Bank here which Bank here which closed week ago, Wednesday night was found in the directors' room mortally wounded. Roper lived about two hours row, also of Decatur, who acafter he was found by Ernest Morcompanied him here as an assistant in liquidating the bank. The two men arrived late Wednesday, after Roper had held conference with J. W. Pole, formerly of Decatur, comptroller of currency. Officers who investigated said Roper was shot through the right temple with .32 caliber automatic pistol, which was found on the floor beside the man. Roper was found at table in the directors' room. Persons near the bank said they heard muffled exlosion about 8:10 m. but thought nothing of it. Ten minutes later Morrow entered the bank and found Roper wounded. Morrow told officers he knew of no reason why Roper should take his own life. Roper is survived by his wife, who lives in Decatur. He was member of clothing firm in Decatur and only last week was liquidating agent.


Article Text

HEADS OF CLOSED PRATTVILLE BANK JURY Allen Northington and Aid Are Bound Over: Bonds Are Posted Montgomery, Ala., June len Northington, president, and Ed Northington, vice president, of the closed First National Bank of Prattville, bound over Federal Grand Jury Thursday fol lowing arraingment before the United States commissioner here on charges of violating the national banking laws. The two men wavied preliminary hearing and their bonds were set at 10,000 each. The bonds were made a few minutes after their arraingment. The Prattville bank was closed last week.


Article Text

Cotton Association Wins Suit Against Bond Company The Alabama Farm Bureau Cotton Association yesterday was awarded verdict of $50,000 with interest, the full amount claimed, in suit against the National Surety Company in the District Court. The jury deliberated about close of the which required two one-half days testimony and arguments and which suit for the amount of bond made Allen Northington, former general of the manager sociation. The Association claimed that had approximately $140,000 through fraudulent and dishonest acts Northington period of years that these came light following the failure 1930 of the First National Bank, Prattville. The Surety Company contended that some the alleged irregular were known to others in the Association before the bank's failand that no notice then given the Surety Company quired the contract. The Association claimed that had no of fraudulent transactions untili after failed. Judge Crum, representing the Association, told the jury that Northington tried to stave off the failure of the bank to save his own hide.