First National Bank - Meridian, MS

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2957
Charter Number: 2957
Start Date: January 13, 1931
Location: Meridian, Mississippi (32.364, -88.704)

Metadata

Model: gpt-5-mini
Short Digest: d2f78683

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1931-01-26
Date receivership terminated: 1932-07-15
OCC cause of failure: Governance
Share of assets assessed as good: 69.7%
Share of assets assessed as doubtful: 18.3%
Share of assets assessed as worthless: 12.0%

Description

The First National Bank of Meridian closed January 13, 1931 and a receiver was appointed. By August 1931 the receiver (Louis G. Selig) reports the bank has been reorganized under the same name and is operating as a going concern, though some trust accounts remain in receivership for liquidation. The articles do not describe a depositor run triggering the closure; the bank was closed and placed in receivership and later reorganized/reopened.

Events (5)

1. May 22, 1883 Chartered

Source: historical_nic

2. January 13, 1931 Suspension

Cause: Government Action
Cause Details: Bank closed and a receiver was assigned (receiver P. Rogers initially; later Louis G. Selig). Closure led to receivership proceedings rather than described depositor run.
Newspaper Excerpt: the Meridian bank which closed January 13
Source: newspapers

3. January 26, 1931 Receivership

Source: historical_nic

4. August 15, 1931 Receivership

Newspaper Excerpt: Appointment of Louis G. Selig, receiver for the Commercial National Bank as receiver for the First National Bank of Meridian was made known here today. ... Mr. Selig explained carefully the present status of the receivership of the First National Bank of Meridian. This bank has been reorganized under the name of First National Bank of Meridian and is now operating as a going concern.
Source: newspapers

5. August 15, 1931 Reopening

Newspaper Excerpt: This bank has been reorganized under the name of First National Bank of Meridian and is now operating as a going concern.
Source: newspapers

Newspaper Articles (4)

1. August 15, 1931 Hattiesburg American Hattiesburg, MS

Article from Hattiesburg American, August 15, 1931

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Article Text

LOUIS G. SELIG MADE RECEIVER Will Act in Capacity for Bank at Meridian Besides His Duties in Hub Appointment of Louis G. Selig, receiver for the Commercial National Bank as receiver for the First National Bank of Meridian was made known here today. Mr. Selig, who is residing in Hat- tiesburg while operating the local receivership succeeded C. P. Rogers as receiver for the Meridian bank which closed, January 13. Mr. Rogers has been transferred to Philadelphia, Pa., as receiver for a banking house there. In commenting upon his appointment, Mr. Selig explained carefully the present status of the receivership of the First National Bank of Meridian. This-bank has been reorganized under the name of First National Bank of Meridian and is now operating as a going concern. A number of trust accounts however, which were involved in the closing of the First National Bank of Meridian were not taken over by the First National Bank in Meridian These accounts must be liquidated by a receiver functioning under the

2. August 17, 1931 Birmingham Post-Herald Birmingham, AL

Article from Birmingham Post-Herald, August 17, 1931

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Article Text

PLANE VICTIM BURIED Miss Mary Oates, Killed In Crash, Is Laid To Rest At Dothan DOTHAN, Ala., Aug. uneral services for Miss Mary Alice Oates, 23. died in local hospital early Friday from injuries when the which she was flying with John Chalker and Dick day. held Friday Union Church near Headland with the Rev. M Truett Miss Oates survived by her fathand stepmother Mr. and Mrs. H. Oates one sister. Miss Lizzie Oates. and two brothers, Ralph and Edward Oates. all Tumbleton BANK RECEIVER NAMED Hattiesburg Agent To Take Over Affairs Of Meridian Institution HATTIESBURG Miss., Aug. Announcement has been made of the appointment of Louis Selig, receiver for the Bank, Hattiesburg, as receiver for the First National Bank of Meridian. Mr. Selig, who is residing in Hatthe tiesburg while operating the local receivership, succeeded P. Rogers as received for the Meridian Bank, which closed Jan. 13 has been transferred to Philadelphia, Pa., as receiver for a banking house

3. August 17, 1931 Clarion-Ledger Jackson, MS

Article from Clarion-Ledger, August 17, 1931

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Article Text

Hattiesburg Receiver Changed To Meridian HATTIESBURG Aug 16-Appointment of Louis G. Selig, receiver for the Commercial National bank as receiver for the First National Bank of Meridian has been made known here. Mr. Selig, who is residing in Tattiesburg while operating local receivership succeeded C. Rogers as receiver for the Meridian bank which closed January 13 Mr. Rogers been transferred to Philadelphia, Pa., receiver for a banking house there.

4. August 19, 1931 Sun Herald Biloxi, MS

Article from Sun Herald, August 19, 1931

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Article Text

Mississippi City Misses Helen and Hilda Cox and Miss Drum been touring in North and South Carolina, Virginia and Maryland stopped here their Gretna to visit with Miss Annie Faunce. Mrs. Herman Trautman has turned to her home in Memphis after spending the week-end with her parMr. Mrs. Wallis, Loposser of New Orleans the guest of his grandmother, Mrs. Kate Latimer, at the home of Mrs. Inez Walker. Jones has been the guest Paul and Edgar Fredric has lege for the coming term. Miss Elizabeth Wallis left Sunday for Memphis for several weeks' visit with her sister and Mr. and Mrs. Herman Trautman. Mrs. W Jones left Saturday for Sledge, Miss., extended visit with her mother. Mrs. K Roby and sister and broth Mr. and Mrs. McGee Mr. and Mrs. Walter Sellers and daughter, Marjorie Sellers, have returned home after week the guests of Mr. and Mrs. Brady Wallis Brady. son of Mr. and Mrs. Brady, has recovered after dergoing major operation last week. August Sellers of New Orleans the guest of Mr and Mrs. and family are spending the sumRose Mary Terrace. Mrs. Craig and little daughter Marion visiting Mrs. parents. Mr and Mrs. William WilkenWoodville. Ed Hosch, Sr. spent several days New Orleans last week busiDaisy May Chapman has turned home from Perkinston, College and return two to resume her studies for the coming Mrs Perferle her daughter and grand Donald and Arnold Perferle Orleans spending the the Fred Miller tages. Mrs. Kent of Vicksburg guest of her sister Mrs. Meta Thomp The Misses Oliver New Orleans the guests of their mother. Mrs. Oliver. Miss Beulah Baker of Jackson the guest of her sister Mr. and Mrs. R. Galloway Billy Coon Hannibal, Mo., the guest of here last week. Mrs. Adolph Eicke and Mrs. James Frink of New Orleans are the guests their parents, Mr. and Mrs. George Mr. and Mrs. M. Cooper of Summit, Miss., have recently moved here their home and are located Railroad street. Cullen, John L. Dawson Reedus McClaire Jackson spent days the guests of Mr. and Mrs. W. Correjolles Second street. Mrs. Laura Mays Moss Point was guests of Mrs. Brady last week. Mrs. Mary Rivers Misses Mary Frances, Beulah and Kathleen Rivers visiting Mrs. Rivers sister and brotherin-law, Mr and Mrs. R. B. Galloway Martin Burton. Mary Gary Howie, Sullivan Hattiesburg, Dorothy Annie Causey Welty Dorothy Shea. Rosa Lee Heiderhoff Mary Hanak, Hershey Janet Rau, Ruth Darnall. Helen Pratt Mar Ben Glenn, Harry Zengel of New Napoleon Cassibry Arthur and Francis Boul Louis Porier. Warren Lowry, Bougwahl. Jimmie Rouse. Charles Williams, Lee Alford and Tom Gard ner. NEW BANK RECEIVER NAMED Meridian. Aug. Sehas been appointed by the comp. of currency succeed Rodgers of the old First National Bank Meridian Mr. Rodgers was Philadelphia, assume the of closed bank Mr. Selig also the defunct National Bank Hattiesburg and charge liquidating mainder securities both institutions.