Citizens Bank - Spring Hope, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 2, 1933
Location: Spring Hope, North Carolina (35.944, -78.110)

Metadata

Model: gpt-5-mini
Short Digest: 0edec3be

Response Measures

None

Description

Multiple contemporaneous articles (June 2–3, 1933) list Citizens Bank (receiver), of Spring Hope among institutions for which RFC loans were withdrawn or voided. That phrasing indicates the bank was in receivership (closed) by this date. No article mentions a depositor run prior to suspension.

Events (1)

1. June 2, 1933 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership and listed as such in June 1933 notices; RFC loan previously authorized was withdrawn/cancelled because the bank was in receivership.
Newspaper Excerpt: Citizens bank (receiver), of Spring Hope
Source: newspapers

Newspaper Articles (4)

1. March 3, 1933 Hickory Daily Record Hickory, NC

Article from Hickory Daily Record, March 3, 1933

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Article Text

MILLION FUNDS LOANED TO March more dollars author ized for North Carolina tions by the in January. The list: Cumberland National bank Fayetteville (receiver), Gaston Trust Gastonia, $7,000; United and Trust of company, boro, Bank of Mocksville, $9,000 and Bank Mount Airy, Mount $60,000; the Bank of Mount Mount Gilead, $6,000; Old Fort, (receiver) Old $8,500; Mechanics Savings (receiver) Raleigh, $23,000; Peoples Bank, the First bank Shelby, Citizens (receiver), Spring Hope, Farmers and Merchants Stanley $5,175; Peoples Loan Savings bank, Statesville, 000; Atlantic Joint Stock bank, Raleigh, the Carolina Joint Stock bank Durham, $206,000; High Perpetual Building and Loan sociation, High Point, $6,444. loan of previously thorized for the Bank of Hunters. ville, Huntersville, was cancelled by the bank.

2. June 2, 1933 Hickory Daily Record Hickory, NC

Article from Hickory Daily Record, June 2, 1933

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Article Text

SHELBY C. Advances Money To N. C. Institutions WASHINGTON, June Three building loan associations, a bank and the regional agricultural credit of Raleigh were North Carolina stitutions granted loans by the Reconstruction Finance Corporation in April, the monthly port revealed today. At the same time, announcement made that eight previously authorized for banks in North Carolina had been withdrawn cancelled. Loans authorized included: Bessemer City bank, $5,000; tual Building and Loan Association, Durham, $24,297; Shelby Building and Loan Association, of Shelby, and $10,000, although part the second loan had disbursed May 15; the Tarboro Building and Loan Association, and Regional Agricultural Credit Corporation Raleigh, $144,176.45 Loans withdrawn or cancelled included: Citizens Bank (réceivSpring Hope, the Champion Bank and Trust company, Canton, $15,000: the Bank French Broad, Marshall, $15,000; the Savings bank Raleigh, the Bank Rich Square, Rich Square $7,500 the First National Bank of Shelby, $100,000: Union Trust company, Shelby, $60,000; the Farmers Na tional Bank and Trust company, of $32,000.

3. June 2, 1933 The Asheville Times Asheville, NC

Article from The Asheville Times, June 2, 1933

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Article Text

R.F.C.Loans Granted Five N. C. Firms WASHINGTON, June 2-(AP) Three building and Joan associations bank and the regional agricultural credit corporation of Raleigh were North Carolina institutions granted loans by the Reconstru Finance port corporation revealed April, the monthly retoday At the same time. announcement was made that eight Coans previously authorized for as many banks in North Carolina had been- withdrawn or cancelled Loans authorized Included: The Bessemer City bank $5,000; Mutual Building and Loan association. Dur, ham, 824,207 Shelby Building and and $10,000. although no part of the second loan had been disbursed up to May 15; the Tarboro Building and Loan association, $19,176.50; and the Regional Agricultural Credit corporaLoans withdrawn cancelled in cluded Citizens Bank (receiver). of Spring Hope, $1,864.10; the Champion Bank and Trust company Canton. $15,000; the Bank of French Broad, Marshall $15,000; the Merchants Savings Bank (receiver) Raleigh, $23,000; the Bank of Rich Square, tional Bank of Shelby, $100.000; the Union Trust company, Shelby, $60.000; the Farmers National Bank and

4. June 3, 1933 The News and Observer Raleigh, NC

Article from The News and Observer, June 3, 1933

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Article Text

EIGHT LOANS WITHDRAWN OR VOIDED Washington, June 2.-Announcement made today that eight loans authorized for as many banks North the Reconstruetion Finance Corporation in April had withdrawn or cancelled as follows: Citizens bank (receiver), of Spring Hope, the Champion Bank Trust Canton, $15,000; The Bank of French Broad, Mar $15,000; The Mechanics Sav ings Bank (receiver), Raleigh, $23,000; The Bank of Rich Square, Rich Square, $7,500; The First National Bank Shelby, $100,000; The Union Trust Company, Shelby, $60, 000; The Farmers National Bank and Trust Company, of WinstonSalem, $32,000.