Bank of Clinton (Clinton, NC)

Episode Information

Episode UID
914945791578
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
91494579 hash
Start Date
June 22, 1931
Location
Clinton, North Carolina (35.000, -78.332)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8904b20699141132

Response Measures

None

Description

Bank was placed in the hands of the state banking department and went into liquidation; later dividend payments from the receiver are reported.

Events (5)
1. June 22, 1931 Receivership
Newspaper Excerpt
placed in the hands of the state banking ... paid to the bank's receiver.
Source
newspapers
2. June 22, 1931 Suspension
Cause
Government Action
Cause Details
Placed in the hands of the state banking department/board of directors ordered closure to conserve depositors
Newspaper Excerpt
Bank of Clinton ... did not open business here this morning ... notice posted on the door of the Bank Clinton stated order of the board directors, the bank has been placed in the hands of the state banking
Source
newspapers
3. June 23, 1931 Other
Newspaper Excerpt
TWO CLINTON BANKS SUSPEND OPERATION ... The first notified depositors had placed its affairs in the state department ... The Bank announced it closed because had been notified ... and wished to prevent a run.
Source
newspapers
4. August 16, 1932 Other
Newspaper Excerpt
Judgment against four of the officers of the closed Bank of Clinton in charges making excessive loans ... the defendants have agreed to pay the bank's receiver.
Source
newspapers
5. April 7, 1934 Other
Newspaper Excerpt
Depositors the Bank of Clinton, which closed some three years paid ... dividend today. This the fourth dividend paid ... by the liquidating agents for the two banks.
Source
newspapers

Newspaper Articles (4)
1. June 22, 1931 Goldsboro News-Argus Goldsboro, NC

Article Text

Bank Of Closes To Sampson Avoid Run After Bank Of Clinton Shuts Up (Special to Bank of June Clinton state bank. and the Bank Sampson federal bank. did not open business here this morning. leaving Clinton without banking notice posted on the door of the Bank Clinton stated order of the board directors, the bank has been placed in the hands of the state banking conserving the interthe depositors. the door of notice posted on the Bank Sampson. which Just across the street from the Bank of be expressed belief that the insaid and and paid toand loans and discounts Bank Sampson on the The issued report showcapital

2. June 23, 1931 The Atlanta Constitution Atlanta, GA

Article Text

TWO CLINTON BANKS SUSPEND OPERATION CLINTON, N. June Clinton was deprived of banking facilities with closing today of the Bank of Clinton, and the Bank of Sampson. The first notified depositors had placed its affairs in the state department assets for depositors. The Bank announced it closed because had been notified of the Clinton tention to close and wished to prevent a run. The Bank of Clinton listed capital $50,000. resources the Sampson. capital $30,000: resources $263,788.50.

3. August 16, 1932 Goldsboro News-Argus Goldsboro, NC

Article Text

Clinton Bank Officers Agree to Pay in Criminal Charges Against Continued (Special to Aug. 16. Judgment against four of the officers of the closed Bank of Clinton in charges making excessive loans and giving out report of the bank's condition were today continued until the October term of Sampson Superior court by Judge H. Cranmer. Charges against Wright and Herbert. two of the directors, nol prossed. Continuance of the judgments against the others was granted that they may raise an additional needed to bring to $75,000 the total the defendants have agreed to pay the bank's receiver. Aug. compromise settling cases against the officers of the closed Bank of Clinton was expected to be completed in Sampson Superior Court here today. Under the tentative agreement the officers will pay to the use of the bank's receiver and the state will not prosecute charges of making excessive loans and paying illegal dividends. The amounts in property and cash which the defendants agreed with the banking department to pay to the liquidating agent were: George Butler, $20,000; Bethune, $7,500; H. L. Howard $12,500; B. Smith $1,000; E. Crumpler, W. $500. After hearing the evidence and the argument the Turn to Page Three)

4. April 8, 1934 The News and Observer Raleigh, NC

Article Text

DEPOSITORS RECEIVE THEIR FOURTH Clinton, April 7.-Depositors the Bank of Clinton, which closed some three years paid cent. dividend today. This the fourth dividend paid and orings the total cent., about $65,000. The dividend paid day amounted to $12,957. Sampson, which closed at the same time, has per cent, dividend date. Stevens liquidating agents for the two banks.