Article Text
M. W. M'PHERSON NAMED MEBANE BANK RECEIVER Aug. for the First National Mebane which has opened closed durmg the holiday March Mr. has banking in cashier Savings United Bank and Trust in capacity and assisting
10504. First National Bank (Mebane, NC)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 11697
- Charter Number
- 11697
- Start Date
- March 1, 1933*
- Location
- Mebane, North Carolina (36.096, -79.267)
Metadata
- Model
- gpt-5-mini
- Short Digest
86ed2a8ea6aafa14
Response Measures
None
Receivership Details
- Depositor recovery rate
- 74.1%
- Date receivership started
- 1933-08-16
- Date receivership terminated
- 1938-03-17
- Share of assets assessed as good
- 11.9%
- Share of assets assessed as doubtful
- 84.2%
- Share of assets assessed as worthless
- 3.9%
Description
Articles state the First National Bank of Mebane closed during the March 1933 bank holiday and did not reopen. A receiver (M. W. McPherson) was appointed in Aug 1933 and was liquidating assets and paying dividends by Jan 1934. No bank run is described in the articles; the closure appears tied to the March 1933 suspension/bank holiday and subsequent receivership.
Events (5)
1.
May 4, 1920
Chartered
- Source
- historical_nic
2.
March 1, 1933*
Suspension
- Cause
- Government Action
- Cause Details
- Closed during the March 1933 bank holiday and did not reopen afterward.
- Newspaper Excerpt
- which has not opened last closed March. during the bank holiday
- Source
- newspapers
3.
August 16, 1933
Receivership
- Source
- historical_nic
4.
August 26, 1933
Receivership
- Newspaper Excerpt
- M. W. M'PHERSON NAMED MEBANE BANK RECEIVER ... appointed receiver for First National Bank of Mebane which has not opened since last closed March.
- Source
- newspapers
5.
January 18, 1934
Receivership
- Newspaper Excerpt
- W. McPherson, M. for Mebane Receiver National Bank, First Authorized to Make ... payment ... dividend ... begin today. ... defunct First National Bank of Mebane ... total assets the bank when closed in March 1933 ... liabilities ... receiver authorized to pay dividend of 12½ percent.
- Source
- newspapers
Newspaper Articles (3)
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Article Text
Burlington Man Named Mebane Bank Receiver Daily News) (Special McPherMebane, Aug. son, Burlington, First Nareceivor for pointed tional Bank of Mebane which has not opened last closed March. durbank holiday ing been closely has identified with banking in Alamance Savings cashier the county as and later the Burlington United bank Bank and Trust company in the same former cashier George Johnson, National bank has been the First capacity of conservserving in the Mr. Meand now assisting is Pherson.
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Article Text
Percent Of 12½ Dividend Bank For Mebane Ordered W. McPherson, M. for Mebane Receiver National Bank, First Authorized to Make Starts ToPayment, day. M. W. McPherson. National receivthe defunct for today will of Mebane, Bank of dividend the issue begin creditors reprechecks to cent, under 121/2 per senting the Comptrolof authority ler of the Currency in Washthat this stated Mr. McPherson as reis made possible payment the reconstrucloan from sult of and colfinance corporation tion able to make he has been lections of the bank. debtors from Considering that Mr. McPherson short the scene but has been on the work as receivtime, taking up some weeks conservator from payment indicates the early liquidating the toward progress of the bank. fairs Total assets the bank when closed in March. 1933, were listed $260,263.41. but an examination of affairs revealed that the book value was not "actual value." Total Liabilities amount to $157,023.04 While Mr. McPherson was not in make any prediction to position concerning what percentage of monBY will finally be disbursed to claimis generally the impression abroad ants, that fifty cent will be considered the maximum that may be expected. If is possible to reach that margin. The work of making collections from the "paper" left for handling when the close occurred will be less difficult now, it is believed. because conditions the town and country background have Improved since the numerous projects have gotten under way to affect the community. The bank had capital stock of which accessible under $50,000 the charter.