Bank of Council - Council, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1926*
Location: Council, North Carolina (34.421, -78.468)

Metadata

Model: gpt-5-mini
Short Digest: fe630a37

Response Measures

None

Description

Article (Asheville Citizen-Times, 1926-06-17) lists 'Bank of Council Bladen county failed.' No mention of a depositor run; the bank is described as having failed and officers face indictments (suggesting bank-specific problems/embezzlement). I infer a suspension/closure (failure) rather than a run. Date of failure not specified in the snippet; used article date to place timing.

Events (2)

1. June 1, 1926* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank is listed as failed and officers are awaiting trial/indictments for violations; suggests internal malfeasance or insolvency leading to failure.
Newspaper Excerpt: The bank failed Bank of Council Bladen countyfailed.
Source: newspapers

2. June 17, 1926 Other

Newspaper Excerpt: One or more officials of 10 North Carolina banks are now under indictment... The banks whose officials await trial are listed... Bank of Council Bladen county failed. The case is expected to come to trial August ...
Source: newspapers

Newspaper Articles (1)

1. June 17, 1926 Asheville Citizen-Times Asheville, NC

Article from Asheville Citizen-Times, June 17, 1926

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Article Text

IO STATE BANK MEN FACE TRIAL Some Indictments Followed Failure, Others For Embezzlement One or more officals of 10 North Carolina banks are now under indictment. awaiting trial for viola tion of the state banking laws. cording to 1. M. Balley attorney to the corporation and charged with the enforcement of the sky Mr. Balley duties include as sisting the in the vari ous districts in prosecuting cases of bank law violating and in this connection he has compiled a list of the cases awaiting trial. Some of the indictments followed failure of the banks in other Instances the official charged with embezzlement other bank law violation. but the bank's financial status was not materially iffected Some of the cases have been on the dockets for months, or even years The banks whose officials await trial are listed. in the order in which the cases are expected by Mr. Bafley to come up for trial Farmers and Merchants Bank of case is expected to come UD for trial during the present term of Vance Superior negro bank at Elizabeth City The negro cashier Holland, has been convicted. and at his trial testimony that resulted in the conviction of the assistant cashier. negro named Hart Hart's case is expected to up for trial during the present court term. The bank failed Bank of Snow Hill-failed. Certain of the officers and directors are expected to 50 on trial next week. The Bank of Warsaw. The case will come to trial, it is believed July 12. Bank of Council Bladen countyfailed. The case is expected to come to trial August Bank of Connelly SpringsAugust Merchants and Farmers Bank