Citizens Bank - Wake Forest, NC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 2, 1932
Location: Wake Forest, North Carolina (35.980, -78.510)

Metadata

Model: gpt-5-mini
Short Digest: 59dd7ff2

Response Measures

None

Description

Article (1932-02-02) refers to the 'defunct Citizens Bank of Wake Forest' and discusses conviction of former banker John M. Brewer for violating state banking laws and depositors petitioning the governor. No run is described; the bank is described as defunct (permanently closed).

Events (2)

1. February 2, 1932 Other

Newspaper Excerpt: APPEAL FOR CLEMENCY WILL BE MADE TO GOVERNOR TODAY Raleigh...to appeal direct to Governor Gardner an effort save the former member of the trustees from entering the serve the one three years imposed in Wake Superior court last June upon his conviction of violating state banking laws. ... petition clemency signed by committee depositors in the defunct Citizens Bank of Wake Forest ... presented to Executive Counsel Tyre C. Taylor.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank closed/defunct following violations of state banking laws by its former president (conviction of John M. Brewer).
Newspaper Excerpt: petition clemency signed by committee depositors in the defunct Citizens Bank of Wake Forest, which president, presented to Executive Counsel Tyre C. Taylor.
Source: newspapers

Newspaper Articles (1)

1. February 2, 1932 News and Record Greensboro, NC

Article from News and Record, February 2, 1932

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Article Text

MORAL TURPITUDE ABSENT, JUDGE STATES From lency given as yet no intimation of how he feels. APPEAL FOR CLEMENCY WILL BE MADE TO GOVERNOR TODAY Raleigh. Feb. of John M. Brewer. former Wake Forest banker, to appeal direct to Governor Gardner an effort save the former member of the trustees from entering the serve the one three years imposed in Wake Superior court last June upon his conviction of violating state banking laws. formal arrangement had been made for the hearing tonight and no action had taken toward mitting Brewer prison as the certifled the Supreme opinion the conviction did not reach the Wake Superior court clerk's office until after office hours tonight it indicated that commitment papers would not served Brewer until Wednesday morning. Meanwhile large number letters clemency been received the governor and today petition clemency signed by committee depositors in the defunct Citizens Bank of Wake Forest, which president, presented to Executive Counsel Tyre C. Taylor. Bank Receivers Named. Columbia, federal receivers the for People's today State bank of South Carolina appointed Royden Watkins. associate state bank examiner, agent and custodian closed 44 Robert M. Gage McDill, Chestheir ter. met to make plans to begin