Farmers & Merchants Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 1, 1931*
Location: Kinston, North Carolina (35.263, -77.582)

Metadata

Model: gpt-5-mini
Short Digest: 73acb491

Response Measures

None

Description

Article states the Farmers and Merchants Bank, a State institution in Kinston, closed in April 1931 and is in liquidation; no run is mentioned. The December 21, 1932 item reports a 5% dividend payment to depositors by the liquidator. Classified as a suspension (closure) with subsequent liquidation activity.

Events (3)

1. April 1, 1931* Receivership

Newspaper Excerpt: in charge of the liquidation. (liquidator Ronald E. Mewborn) was mailing dividend checks to depositors in Dec. 1932
Source: newspapers

2. April 1, 1931* Suspension

Cause Details: Article gives no cause for the April 1931 closure; only states the bank closed and entered liquidation.
Newspaper Excerpt: the Farmers and Merchants Bank, State institution here which closed in April, 1931
Source: newspapers

3. December 21, 1932 Other

Newspaper Excerpt: Depositors ... the Farmers and Merchants Bank, State institution here which closed in April, 1931, are receiving dividend checks totaling $18,689. It is the first payment, and is for 5 per cent. The checks were mailed last evening by Ronald E. Mewborn ... in charge of the liquidation.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1932 The News and Observer Raleigh, NC

Article from The News and Observer, December 22, 1932

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Article Text

DEPOSITORS RECEIVE circles of the W. U. on Tues FIVE C. DIVIDEND Kinston, Dec. 21.-Depositors in terday. the Farmers and Merchants Bank, State institution here which closed in April, 1931, are receiving dividend checks totaling $18,689. It is the first payment, and is for 5 per cent. The checks were mailed last evening by Ronald E. Mewborn, Lindsay. in charge of the liquidation. Killed in Crash. Mrs. George Hopkins of Oyster Point, were killed in grade eight miles west of here press for its early consideration,