Bank of Franklin - Franklin, NC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 1, 1931*
Location: Franklin, North Carolina (35.181, -83.382)

Metadata

Model: gpt-5-mini
Short Digest: 45c54f23

Response Measures

None

Description

The article describes the Bank of Franklin having closed about two years earlier (circa 1931) and then reopening on 1933-03-24 to pay off depositors and to make plans to reopen the old bank. There is no mention of a depositor run. Cause of the earlier closure is not specified in the article, so classified as suspension (unknown/other) followed by reopening.

Events (3)

1. January 1, 1931* Suspension

Cause Details: Article only states the bank closed about two years earlier (circa 1931); no explicit cause given.
Newspaper Excerpt: About two years ago the Bank of Franklin closed.
Source: newspapers

2. March 24, 1933 Other

Newspaper Excerpt: The old bank lacked about $38,000 of paying off all old claims. At this time plans are being worked out to enable the old bank to reopen.
Source: newspapers

3. March 24, 1933 Reopening

Newspaper Excerpt: The Bank of Franklin opened Wednesday morning for the purpose of paying off any who had placed in the bank during the past two years.
Source: newspapers

Newspaper Articles (1)

1. March 24, 1933 The Asheville Times Asheville, NC

Article from The Asheville Times, March 24, 1933

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Article Text

Franklin Bank Reopens To Pay Off Depositors FRANKLIN, March 24. (Special) The Bank of Franklin opened Wednesday morning for the purpose of paying off any who had placed in the bank during the past two years. About two years ago the Bank of Franklin closed. but later opened as new institution. which had the power to take money on deposit without the right to loan the money. By the action Wednesday the bank is offering all depositors the last two years their money. This money has been handled without the paying of any interest. The old bank lacked about $38,000 of paying off all old claims. At this time plans are being worked out to enable the old bank to reopen. MRS. NICHOLAS ROOSEVELT DIES YORK. March Mrs. Nicholas Roosevelt. mother of Henry Latrobe Roosevelt, assistant of navy, died here today at the home her daughter. Mrs. Arthur Hoff. 68 East 86th Street. istrators paid the Central Bank and Trust company the sum of alleged to be payment in full for Wesleyan Home "On March 1931, the administrators paid to Pansy Ray the sum of $10,000 in full for her claim against estate and on April 17, F. Watson was paid 8350 for attorney's fees in the Ray case." More than 50 disbursements. are listed in the complaint. Many them are payments made to Mr. Weaver and Mrs. Byrd. Mr. Byrd, prominent Asheville financier and organizer of the Federal Mortgage company and other real estate here, was killed in 1929, when the can which he was riding crashed post on Highway No. 10 near Statesville.