11686. Bank of Clinton (Clinton, NC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 23, 1931
Location
Clinton, North Carolina (35.000, -78.332)

Metadata

Model
gpt-5-mini
Short Digest
181296f3

Response Measures

None

Description

The Bank of Clinton in Clinton, NC suspended operations in June 1931 and was placed in the hands of the state banking department (conservator). By April 1934 the bank was in liquidation with dividends paid to depositors and liquidating agents handling affairs, indicating permanent closure. No independent depositor run on this specific bank is described prior to suspension in the articles; the bank closed and was taken into state supervision and later liquidated.

Events (2)
1. June 23, 1931 Suspension
Cause
Government Action
Cause Details
Bank placed in hands of the state banking department/conservator; closed and suspended operations under state supervision to avoid a potential run
Newspaper Excerpt
TWO CLINTON BANKS SUSPEND OPERATION ... closing today of the Bank of Clinton ... The first notified depositors had placed its affairs in the state department ... The Bank announced it closed because had been notified ... and wished to prevent a run.
Source
newspapers
2. April 7, 1934 Receivership
Newspaper Excerpt
Clinton, April 7.-Depositors the Bank of Clinton, which closed some three years ... Depositors ... received their fourth ... The dividend paid ... Stevens liquidating agents for the two banks.
Source
newspapers

Newspaper Articles (3)
1. June 22, 1931 Goldsboro News-Argus Goldsboro, NC
Article from Goldsboro News-Argus, June 22, 1931

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Article Text

Bank Of Closes To Sampson Avoid Run After Bank Of Clinton Shuts Up (Special to Bank of June Clinton state bank. and the Bank Sampson federal bank. did not open business here this morning. leaving Clinton without banking notice posted on the door of the Bank Clinton stated order of the board directors, the bank has been placed in the hands of the state banking conserving the interthe depositors. the door of notice posted on the Bank Sampson. which Just across the street from the Bank of be expressed belief that the insaid and and paid toand loans and discounts Bank Sampson on the The issued report showcapital

2. June 23, 1931 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, June 23, 1931

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Article Text

TWO CLINTON BANKS SUSPEND OPERATION CLINTON, N. June Clinton was deprived of banking facilities with closing today of the Bank of Clinton, and the Bank of Sampson. The first notified depositors had placed its affairs in the state department assets for depositors. The Bank announced it closed because had been notified of the Clinton tention to close and wished to prevent a run. The Bank of Clinton listed capital $50,000. resources the Sampson. capital $30,000: resources $263,788.50.

3. April 8, 1934 The News and Observer Raleigh, NC
Article from The News and Observer, April 8, 1934

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Article Text

DEPOSITORS RECEIVE THEIR FOURTH Clinton, April 7.-Depositors the Bank of Clinton, which closed some three years paid cent. dividend today. This the fourth dividend paid and orings the total cent., about $65,000. The dividend paid day amounted to $12,957. Sampson, which closed at the same time, has per cent, dividend date. Stevens liquidating agents for the two banks.