10301. Bank of Badin (Badin, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 1, 1932*
Location
Badin, North Carolina (35.406, -80.117)

Metadata

Model
gpt-5-mini
Short Digest
b74a62f8e38b363f

Response Measures

None

Description

Articles indicate the Bank of Badin had been closed for months and was in liquidation/receivership in late 1932. No run is described. Reconstruction Finance Corporation made a loan to the bank (receiver) in November 1932, and a dividend/partial payment was announced for Dec 15, 1932. OCR errors in Article 1 (e.g., 'defunct Bank Badin cheered this week announcefrom Smith Medlin, liquidatment' corrected to indicate the defunct Bank of Badin and liquidating agent Smith Medlin).

Events (3)
1. November 1, 1932* Receivership
Newspaper Excerpt
of Badin (receiver) $10,000. ... Reconstruction Finance Corporation reported today had lent $70,000 ... during November. Loans authorized banks and trust companies ... of Badin (receiver) $10,000. (News & Observer, 1932-12-23, referencing November loans).
Source
newspapers
2. December 15, 1932 Other
Newspaper Excerpt
that per diviing agent, dend would be paid on 15th. ... Checks will made out in Raleigh them the Bank of Badin on the date mentioned. (payment/dividend by liquidating agent announced for Dec. 15, 1932).
Source
newspapers
3. * Suspension
Cause
Government Action
Cause Details
Bank had been closed and placed in liquidation/receivership (liquidating agent referenced), indicating closure by official process
Newspaper Excerpt
this the payment that has been made by the institution since closed months ago
Source
newspapers

Newspaper Articles (2)
1. December 9, 1932 The Salisbury Post Salisbury, NC
Article from The Salisbury Post, December 9, 1932

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Article Text

Badin Bank To Make Payment Albemarle, the defunct Bank Badin cheered this week announcefrom Smith Medlin, liquidatment that per diviing agent, dend would be paid on 15th. This the payment that has been made by the institution since closed months ago, and will Checks will made out in Raleigh them the Bank of Badin on the date mentioned.

2. December 23, 1932 The News and Observer Raleigh, NC
Article from The News and Observer, December 23, 1932

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Article Text

List of Those Made During November Is Made Public Washington, Dec. Reconstruction Finance Corporation reported today had lent $70,000 Point, Perpetual Building Loan the North Carolina tual Life Insurance Company Durham, during November. Loans authorized banks and trust companies North Carolina during November follow: of Badin (receiver) $10,000. Champion Bank and Trust $30,000. Bank, $9,760. Elizabeth Bank and Trust (receivers) Wayne National of Goldsboro (receiver) $147,Carolina Bank Trust Co., $525,000. Greensboro United Bank and $250,000. Merchants Bank of Mount $6,000. County $2,000. of $10,000. United Bank, $3,000. Stony of Stony Point (receiver) $5,000.