Southern Savings Bank - Wadesboro, NC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: October 28, 1914
Location: Wadesboro, North Carolina (34.968, -80.077)

Metadata

Model: gpt-5-mini
Short Digest: 785df091

Response Measures

None

Description

Article (Associated Press, Oct 28 1914) reports a voluntary suspension due to decreased deposits and inability to realize long-term real-estate loans. No run or receivership is mentioned. The ultimate disposition (permanent closure vs. later reopening) is not stated; I select suspension_reopening as the most likely outcome given the voluntary nature and statement that depositors and stockholders were amply protected.

Events (1)

1. October 28, 1914 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Decrease of deposits and inability of the bank to realize on long-term real estate loans.
Newspaper Excerpt: The Southern Savings bank of Wadesboro, N. C., voluntarily suspended operations today, it was announced at the office of the State corporation commission.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1914 The Anderson Daily Intelligencer Anderson, SC

Article from The Anderson Daily Intelligencer, October 29, 1914

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Article Text

North Carolina Bank Suspends Operations (By Associated Press.) RALEIGH, N. U., Oct. 28.-The Southern Savings bank of Wadesboro, N. C., voluntarily suspended operations today, it was announced at the office of the State corporation commission. The suspension was due to decrease of deposits and inability of the bank to realize on long term real estate loans. The capitalization of the bank was $25,000. Depositors and stockholders are amply protected, it is said.