11765. Peoples Bank (Goldsboro, NC)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 13, 1927
Location
Goldsboro, North Carolina (35.385, -77.993)

Metadata

Model
gpt-5-mini
Short Digest
33faaa1f

Response Measures

Full suspension

Other: Articles describe attempts to have the bank's affairs taken over and later lawsuits alleging directors' mismanagement; no explicit clearinghouse or reopening mentioned.

Description

OCR errors corrected. Contemporary articles refer to the People's (Peoples) Bank and Trust Company of Goldsboro that 'failed to open for business' in January 1927 after heavy withdrawals; later (1930) reporting cites the bank closed Jan 13, 1927 and attributes failure to mismanagement. I infer a run precipitated suspension/closure. Dates taken from article text and publication dates; exact day inferred as 1927-01-13 per 1930 article wording.

Events (3)
1. January 13, 1927 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals due to discovered shortages and alleged mismanagement of the bank's affairs; depositor panic following inability to meet obligations.
Measures
Conference held to arrange takeover; statement posted promising depositors that present obligations and interest would be paid in full; efforts to have bank's affairs taken over.
Newspaper Excerpt
Withdrawals and consequent ability to meet obligations ... statement posted the door ... following meeting ...
Source
newspapers
2. January 13, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open after withdrawals and inability to meet obligations; later reports attribute closure to mismanagement of directors and shortages in the bank's accounts.
Newspaper Excerpt
People's Bank and Trust company, which failed to open for business today ...
Source
newspapers
3. May 1, 1930 Other
Newspaper Excerpt
failure of the defunct Peoples Bank and Trust Company, which closed here 13. 1927, was due to mismanagement of its directors, a suit ... filed in Wayne county superior court . . . in behalf of stockholders, depositors ... $450,000 suit . . . involves directors as defendants . . .
Source
newspapers

Newspaper Articles (2)
1. January 15, 1927 The News and Observer Raleigh, NC
Article from The News and Observer, January 15, 1927

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Article Text

TRYING TO HAVE BANK'S AFFAIRS TAKEN OVER Conference At Goldsboro hind Closed Doors In Effort To Save Institution Goldsboro, perfect arrangements under which the People's Bank and Trust company, which failed for open business today, would be taken protected being made conference tinuing behind closed doors here tonight. Withdrawals and consequent ability to meet obligations given the for the statement posted the door, following meeting of tended past midnight. The statement account present obligations, the and interests depositors doors the bank. will paid full." was the laws North Carolina the close DecemJanuary the James presy declared shortage but The feeling that will fully reached but will probably announced before

2. May 2, 1930 Bristol Herald Courier Bristol, TN
Article from Bristol Herald Courier, May 2, 1930

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Article Text

BANK'S DIRECTORS ARE BLAMED FOR FAILURE GOLDSBORO N. C., May 1. (UP) that failure of the defunct Peoples Bank and Trust Company, which closed here 13. 1927, was due to mismanagement of its directors, a stockholders of the institution today named the directors defendants in suit for $450,000 filed In Wayne county superior court The suit is in behalf of stock. holders, depositors and the complaint states Twelve stockholders already had filed individual The oldest official weather ord in Kansas was made in Manhattan in January, 1859. The first unknowingly when Oliver Evans put on steam dredge and two under its