11633. Bank of Badin (Badin, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 23, 1932
Location
Badin, North Carolina (35.406, -80.117)

Metadata

Model
gpt-5-mini
Short Digest
9b364b07

Response Measures

None

Description

Articles indicate the Bank of Badin had been closed for months and is in liquidation with a liquidating agent (Smith Medlin). No mention of a depositor run. A Reconstruction Finance Corporation list (Dec 23, 1932) shows Bank of Badin (receiver) $10,000, confirming receivership. Therefore this is a suspension that resulted in closure/receivership.

Events (2)
1. December 23, 1932 Receivership
Newspaper Excerpt
Bank of Badin (receiver) $10,000 (RFC list published Dec. 23, 1932). The News and Observer list shows Bank of Badin (receiver).
Source
newspapers
2. * Suspension
Cause Details
Article says the bank has been closed for months; no cause (such as run, rumor, or correspondent failure) is given in the text.
Newspaper Excerpt
the defunct Bank Badin ... 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.