10571. First National Bank (Salisbury, NC)

View Charter #2981 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
2981
Charter Number
2981
Start Date
March 1, 1933*
Location
Salisbury, North Carolina (35.671, -80.474)

Metadata

Model
gpt-5-mini
Short Digest
0584a14103e42568

Response Measures

None

Description

The articles describe the First National Bank of Salisbury being closed during the March 1933 banking holiday and later resuming limited operations (March 24, 1933) and then fully reopening with a comptroller license on 1933-06-16. No explicit run (large depositor crowd) is described; the suspension appears tied to the March 1933 bank holiday/government action. Additional May articles describe progress on recapitalization and a charge against a former clerk.

Events (5)
1. June 20, 1883 Chartered
Source
historical_nic
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed during the March 1933 banking holiday declared by authorities; suspended operations pending reopening conditions.
Newspaper Excerpt
Banks at Salisbury Are Open on Restricted Basis ... the bank holiday declared.
Source
newspapers
3. March 24, 1933 Reopening
Newspaper Excerpt
Banks at Salisbury Are Open on Restricted Basis ... The First National opened to accept deposits which subject per cent Heavy reported.
Source
newspapers
4. May 18, 1933 Other
Newspaper Excerpt
CHARGE Byers, former clerk the office the First National Bank receiver here, who himself recently. charged of $2,200 other moneys. He ing in hospital
Source
newspapers
5. June 16, 1933 Reopening
Newspaper Excerpt
First National Is Re-opened For Business ... The First National Bank is now open for 100 per cent business ... in possession of a license from the comptroller of the currency.
Source
newspapers

Newspaper Articles (4)
1. March 24, 1933 Statesville Record and Landmark Statesville, NC
Article from Statesville Record and Landmark, March 24, 1933

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Article Text

Banks at Salisbury Are Open on Restricted Basis March SalisSalisbury. branch the North Carolina Bank and Trust Company opened Monday allow per cent drawals from funds on deposit the bank holiday declared. The First National opened to accept deposits which subject per cent Heavy reported.

2. May 18, 1933 The Salisbury Post Salisbury, NC
Article from The Salisbury Post, May 18, 1933

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Article Text

Progress Made In Bank Very gratifying progress being made plans the First National reported this morning Walter Woodson, chairman the board. Nearly all of the preferred stock has been purchased by the deposimeeting of stockholders called there possibility that called before that time the holders waive their of right having days notice Mr. Woodson declined commit himself on any definite opening date for the bank since depends the of details the and the date of the stockholders meet-

3. May 18, 1933 The Salisbury Post Salisbury, NC
Article from The Salisbury Post, May 18, 1933

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Article Text

CHARGE Byers, former clerk the office the First National Bank receiver here, who himself recently. charged of $2,200 other moneys. He ing in hospital

4. June 16, 1933 Carolina Watchman Salisbury, NC
Article from Carolina Watchman, June 16, 1933

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Article Text

First National Is Re-opened For Business The First National Bank is now open for 100 per cent business, having opened its doors on Thursday morning. Cashier Brandis stated that the bank had met all the conditions for re-opening and was in possession of a license from the comptroller of the currency. During the first day of business for the newly opened institution deposits were greatly in excess of withdrawals, as a large number of the business men made deposits. All checks that were written prior to the holiday were cleared and quite a few depositors withdrew cash to meet current obligations.