Bank of Mount Olive - Mount Olive, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 7, 1932
Location: Mount Olive, North Carolina (35.198, -78.068)

Metadata

Model: gpt-5-mini
Short Digest: 8adb4f29

Response Measures

None

Description

Article headline: 'Approve $13,000 Loan For Closed Bank in Mt. Olive' and text references a receiver and loan for the closed Mt. Olive bank. No mention of a depositor run; bank is closed and in receivership, so classified as suspension leading to closure/receivership. Date taken from newspaper publication (1932-10-07).

Events (2)

1. October 7, 1932 Receivership

Newspaper Excerpt: Mt. Bank Receiver (to be used in paying dividends.) Approve $13,000 Loan For Closed Bank in Mt. Olive
Source: newspapers

2. October 7, 1932 Suspension

Cause: Government Action
Cause Details: Bank is closed and a loan was approved for the bank's receiver to be used in paying dividends; bank placed in receivership.
Newspaper Excerpt: Approve $13,000 Loan For Closed Bank in Mt. Olive
Source: newspapers

Newspaper Articles (1)

1. October 7, 1932 Goldsboro News-Argus Goldsboro, NC

Article from Goldsboro News-Argus, October 7, 1932

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Article Text

Approve $13,000 Loan For Closed Bank in Mt. Olive (Continued from Page One.) Gastonia: Gastonia Loan and Trust Company $2,500 Greensboro: Bank and Trust Company $6,500,000. Lexington: Commerical Bank Lexington $64,000. Mt. Bank Receiver (to be used in paying dividends.) Newland: Avery County Bank, $4,500. North Wilkesboro: Bank of North Commericial National Bank of Raleigh (receiver) $721,000. Roanoke Rapids: Citizens Bank and Trust Company, $4,000, and another of $3,500 Shelby: First National Bank of Shelby, $95,000. Washington: First National Bank of Washington (receiver) $16,000. Henderson: Henderson Building and Loan Association $7,500: Henderson Home Building and Loan Smithfield: The Smithfield Building and Loan Association Southport Southport Building and Loan Association