11977. First National Bank (Waynesville, NC)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
6554
Charter Number
6554
Start Date
November 21, 1930
Location
Waynesville, North Carolina (35.489, -82.989)

Metadata

Model
gpt-5-mini
Short Digest
fbe08bbb

Response Measures

Accommodated withdrawals, Books examined

Description

Articles (Nov 21 and Nov 24, 1930) describe heavy withdrawals at First National Bank of Waynesville during a regional panic tied to failures / clearing problems of nearby banks, but the bank remained open and by Nov 24 deposits had returned (swelled $21,000). No suspension or receivership for this bank is reported.

Events (2)

1. December 26, 1902 Chartered
Source
historical_nic
2. November 21, 1930 Run
Cause
Local Banks
Cause Details
Withdrawals triggered by failure/clearing problems of nearby banks (panic in western NC after other banks failed to open/clear funds).
Measures
No specific emergency measures reported; bank remained open and later received returning deposits.
Newspaper Excerpt
First National Bank at Waynesville experienced run whatsoever Friday ...
Source
newspapers

Newspaper Articles (2)

Article from The Asheville Times, November 21, 1930

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Article Text

4 MORE BANKS IN TOWNS OF CLOSE Waynesville and Tryon Institutions Failed to Open For Business. UNEASINESS SUBSIDING One Closes In Clay County; Bryson City Merger Plans Announced. Four more western North Carolina banks failed to open on Friday. à cept these banks closed Thursday all others were doing busiusual. In the Citizens Bank and Trust company open doors, its directors the closing was due to their failure clear funds Thursday the Central Bank and Trust company in Asheville. First National Bank at Waynesville experienced run whatsoever Friday was doing In Bryson Citizens Bank minutes, then closed after some had withdrawn. Officials of the Bryson City immediately consolidation Citizens Bank and the Bryson City bank, declaring the amalgamation logiand Trust company, Tryon, failed open doors Friday morning. from directors that bank was closed temporarily because "of the failure banks nearby towns.' Deposits institution were $165,000. The Clay at Hayesdid not from of North cated that was at and that no trouble was pated. Bank Trust The pany its Friday morning. statement by the board of directors was signed pasted the door: It follows: closed by order of bank the for the protecand of tion depositors of Directors told correspondent The Times the closing the bank the result the failure Thursday the Central clear and Trust in $30,000 in checks. One of the checks, for $25,000, was on the Rockefeller in the Central. was given pay. (Continued on Page


Article from The Charlotte News, November 24, 1930

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Article Text

Deposits Pour Into Bank As Panic Subsides Many Customers of Western N. C. Banks Replace Deposits Withdrawn After Crashes. deposits were pouring into Western North Carolina banks today as the wave of hysteria which swept the section last week gave way to conFrom Marion to Murphy, bank officials viewed the situation with high satisfaction and relief. Customers whose faith in bank institutions had been shaken during the crisis Thursday, Friday and Saturday, returned to banks today with deposits they had withdrawn. Many new accounts were reported to have been opened check of all institutions by The Times showed today that business was going on usual Not a single new name was added to the list of fifteen banks closed last week. The First National Bank of Waynesville. said that the deposits of the institution had been swelled Saturday to $21,000 more than the average The only other bank in the town. the Citizens Bank and Trust Company. was closed on Friday The Farmers and Traders Bank at Weaverville. was doing its usual Monday morning business, D. Weaver, president. informed The Times. At Fletcher, deposits withdrawn by uneasy customers. were being replaced. Officials said all customers had regained confidence. The fifteen closed banks were in the hands the State Corporation Commission or of the comptroller of the currency In all of them acwere at work, checking up on assets, preparatory to & settlement with depositors. Reports today as to the normal condition in Western North Carolina banks were received from Marion, Swannanoa, Burnsville, Bryson City, Sylva, Murphy, Andrews Canton, Weaverv Franklin and Marshall.