Valle Crucis Bank - Valle Crucis, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 10, 1927
Location: Valle Crucis, North Carolina (36.209, -81.778)

Metadata

Model: gpt-5-mini
Short Digest: f6fe3774

Response Measures

None

Description

Article (Watauga Democrat, 1927-11-10) reports Valle Crucis Bank suspended operations and is described as defunct; affairs transferred to Watauga County Bank and state commission was involved. No mention of a depositor run. Cause classified as government_action because steps were taken by the state commission and affairs were transferred to another bank.

Events (2)

1. November 10, 1927 Other

Newspaper Excerpt: Wata County Bank has issued letter to depositors of the defunct institi advising them that the business been transferred to the Boone bank. All notes, certificates and accounts will be looked after and checks drawn on the Valle Crucis Bank will be paid by the Watauga County Bank.
Source: newspapers

2. November 10, 1927 Suspension

Cause: Government Action
Cause Details: State banking commission took steps to close the bank; affairs transferred to Watauga County Bank and the institution is described as defunct.
Newspaper Excerpt: Valle Crucis Bank Suspends Operations Affairs of the Institution To Be Handled By Watauga County Bank ... steps to close the , ation comtaken by the state mission.
Source: newspapers

Newspaper Articles (1)

1. November 10, 1927 Watauga Democrat Boone, NC

Article from Watauga Democrat, November 10, 1927

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Article Text

Valle Crucis Bank Suspends Operations Affairs of the Institution To Be Handled By Watauga County Bank Announcement is made rough f the Mr. G. P. Hagaman, cas' e closWatauga County Bank, e Valle ing up of the affairs of the Crucis Bank. The prr bank ceased to carry expenses unts were and steps to' close the , ation comtaken by the state mission. The Wata County Bank has issued letter to depositors of the defunct institi advising them that the business been transferred to the Boone bank. All notes, certificates and accounts will be looked after and checks drawn on the Valle Crucis Bank will be paid by the Watauga County Bank. Statements of checking accounts have been made to depositors and Mr. Hagaman insists that if there be discrepancies, they be made known at once. Watauga's oldest banking institution extends a welcome to the Valle Crucis Bank's customers and assures them they will have the careful attention accorded them that has enabled the Watauga Bank to become one of the strongest financial institutions in this section of the state.