11655. National Bank (Burlington, NC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
13613
Charter Number
13613
Start Date
December 1, 1931*
Location
Burlington, North Carolina (36.096, -79.438)

Metadata

Model
gpt-5-mini
Short Digest
e9132a06

Response Measures

None

Description

The articles (May 14, 1932) report the National Bank of Burlington reopening under a new charter as successor to the former First National Bank after having suspended operations about five months earlier due to depreciation in its legal bond. No explicit run is mentioned.

Events (3)

1. December 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Old bank suspended about five months earlier because of depreciation in the legal bond (asset depreciation).
Newspaper Excerpt
the past five months since the old bank suspended the of depreciation the legal bond
Source
newspapers
2. May 13, 1932 Chartered
Source
historical_nic
3. May 16, 1932 Reopening
Newspaper Excerpt
BURLINGTON BANK REOPENS MONDAY...Charter for the National Bank of Burlington, as successor the former First National Bank, was approved by the comptroller of currency...reopening the bank next Monday morning for business
Source
newspapers

Newspaper Articles (2)

Article from The Herald-Sun, May 14, 1932

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Article Text

BURLINGTON BANK REOPENS MONDAY Comptroller Of Currency Wires Approval-Checks Ready For Depositors May The National Bank of opening next Monday an was given official OK office of the of the cur"The National Bank of Burlington to business May under charter 613. being mailed under separate cover. compTo complete the program which has been during the past five since the old bank suspended the of depreciation the legal bond special was sent to Washington yesterday and telephone munication Cashier Blakey was informed that the charter would approved during the morning The complete roster of the new bank personnel, those active in the banking was released by Mr Blakey today. with the following names of well in the city and with long banking experi- cashier and vice assistant cashier and vice Byron cashier and vice H. Carlos Penning ton and Mrs. Sue Windham. Checks Ready Mr. Blakey stated that checks for the payment of ten percent available to former depositors under the walver agreement have been prepared and will be ready to be handed out Monday when called for Along with the checks. former de. positors will be handed certificates deposit covering the remainder their waived accounts. payable intervals under the waiver agree


Article from News and Record, May 14, 1932

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Article Text

MEETS WITH APPROVAL Comptroller of Currency Passes On Plans For Reopening Bürlington Bank. PERSONNEL ANNOUNCED (Special News) Burlington, May -Charter for the National Bank of Burlington, as successor the former First National Bank, was approved by the comptroller currency in Washington early today, removing the last barrier In of the formal ceremony reopening the bank next Monday morning for business To complete the program which has been unfolding during the past five months since the old bank suspended the face depreciation in the logal bond special messenger was sent Washington yesterday andein cation Cashier Blakey was informed that the charter would be approved during the morning The complete roster the of new bank personnel, those active in the banking was released by Blakey today, with following names of persons well known the in city and with long banking experBlakey, cashier and vice president; C. Long, assistant cashier and vice president; Byron Stack, asand vice president: B. M. Currin. Somers, A. Simpson, Carlos Pennington, and Mrs. Sue Windham Mr Blakey that checks for the payment of per cent available to former under the waiver have been prepared and will be ready to handed out when called for. Along with the deposistors will be handed certificates of deposits covering the remainder of their accounts, payable at tervals under agreement.