First National Bank - Salisbury, NC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 2981
Charter Number: 2981
Start Date: March 1, 1933*
Location: Salisbury, North Carolina (35.671, -80.474)

Metadata

Model: gpt-5-mini
Short Digest: d1039d9a

Response Measures

None

Description

The bank was closed during the March 1933 banking holiday and reopened for restricted business by March 24 and then for 100% business on 1933-06-16 with a comptroller's license. There is no explicit description of a depositor run in the articles; closure appears to be part of the government-declared bank holiday/suspension and subsequent reorganization. OCR errors in articles corrected (e.g., March Salisbury text). Article 3 refers to a charge against a former clerk/receiver but the institution ultimately reopened.

Events (4)

1. June 20, 1883 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed as part of the March 1933 bank holiday/statewide closures; reopened on a restricted basis afterward.
Newspaper Excerpt: Banks at Salisbury Are Open on Restricted Basis ... The First National opened to accept deposits which subject per cent
Source: newspapers

3. May 18, 1933 Other

Newspaper Excerpt: CHARGE Byers, former clerk the office the First National Bank receiver here, who himself recently. charged of $2,200 other moneys. He ing in hospital
Source: newspapers

4. June 16, 1933 Reopening

Newspaper Excerpt: First National Is Re-opened For Business ... The First National Bank is now open for 100 per cent business ... was in possession of a license from the comptroller of the currency. During the first day of business ... deposits were greatly in excess of withdrawals, as a large number of the business men made deposits. All checks that were written prior to the holiday were cleared ...
Source: newspapers

Newspaper Articles (4)

1. March 24, 1933 Statesville Record and Landmark Statesville, NC

Article from Statesville Record and Landmark, March 24, 1933

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Article Text

Banks at Salisbury Are Open on Restricted Basis March SalisSalisbury. branch the North Carolina Bank and Trust Company opened Monday allow per cent drawals from funds on deposit the bank holiday declared. The First National opened to accept deposits which subject per cent Heavy reported.

2. May 18, 1933 The Salisbury Post Salisbury, NC

Article from The Salisbury Post, May 18, 1933

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Article Text

Progress Made In Bank Very gratifying progress being made plans the First National reported this morning Walter Woodson, chairman the board. Nearly all of the preferred stock has been purchased by the deposimeeting of stockholders called there possibility that called before that time the holders waive their of right having days notice Mr. Woodson declined commit himself on any definite opening date for the bank since depends the of details the and the date of the stockholders meet-

3. May 18, 1933 The Salisbury Post Salisbury, NC

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Article Text

CHARGE Byers, former clerk the office the First National Bank receiver here, who himself recently. charged of $2,200 other moneys. He ing in hospital

4. June 16, 1933 Carolina Watchman Salisbury, NC

Article from Carolina Watchman, June 16, 1933

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Article Text

First National Is Re-opened For Business The First National Bank is now open for 100 per cent business, having opened its doors on Thursday morning. Cashier Brandis stated that the bank had met all the conditions for re-opening and was in possession of a license from the comptroller of the currency. During the first day of business for the newly opened institution deposits were greatly in excess of withdrawals, as a large number of the business men made deposits. All checks that were written prior to the holiday were cleared and quite a few depositors withdrew cash to meet current obligations.