Bank of Osyka - Osyka, MS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1912*
Location: Osyka, Mississippi (31.007, -90.472)

Metadata

Model: gpt-5-mini
Short Digest: afa5c289

Response Measures

None

Description

The article reports a complete assignment (voluntary assignment) and appointment of assignees to wind up affairs, i.e., closure/receivership. No run is mentioned. The bank had previously failed in March 1912 and was reorganized, but the 1913 assignment indicates permanent wind-up.

Events (2)

1. March 1, 1912* Other

Newspaper Excerpt: The bank failed in March, 1912, but was reorganized with a new corps of officers.
Source: newspapers

2. November 7, 1913 Receivership

Newspaper Excerpt: A complete assignment, without preference to creditors, was made by the Bank of Osyka. W. B. Ott and D. E. Newman were appointed assignees to wind up the affairs of the institution.
Source: newspapers

Newspaper Articles (1)

1. November 7, 1913 Macon Beacon Macon, MS

Article from Macon Beacon, November 7, 1913

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Article Text

OSYKA BANK MAKES VOLUNTARY ASSIGNMENT W. B. OTT AND D. E. NEWMAN AP. POINTED RECEIVERS. Had Capital Stock of $50,000-Institution Failed in March, 1912, but Was Reorganized-M. B. Varnado Was Cashier. Osyka.-A complete assignment, without preference to creditors, was made by the Bank of Osyka. W. B. Ott and D. E. Newman were appointed assignees to wind up the affairs of the institution. According to the bank's statement, made to the state auditor recently, its condition was this: Loans and discounts, $179,720; real estate, $20,400; advances on lumber, $3,678; due from banks and cash items in cash, $3,390. Liabilities, $58,653; deposits subject to check, $16,684; bank certificates, $91,223; bills payable, $40,959. The authorized capital of the bank was $50,000. M. B. Varnado was president and Howard Coumbe cashier. The bank failed in March, 1912, but was reorganized with a new corps of officers.