First National Bank (Kingston, TN)

View Charter #12319 on SPMC View balance sheet

Episode Information

Episode UID
1231901593
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
123190 national
Charter Number
12319
Start Date
September 14, 1932
Location
Kingston, Tennessee (35.881, -84.509)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c1612dc6f3b50cee

Response Measures

None

Receivership Details

Depositor recovery rate
72.5%
Date receivership started
1931-12-24
Date receivership terminated
1936-02-21
Share of assets assessed as good
33.9%
Share of assets assessed as doubtful
41.7%
Share of assets assessed as worthless
24.4%

Description

The articles confirm the bank is in receivership by September 1932, but do not provide the specific date or cause of the initial suspension.

Events (4)
1. February 9, 1923 Chartered
Source
historical_nic
2. December 24, 1931 Receivership
Source
historical_nic
3. September 14, 1932 Receivership
Newspaper Excerpt
Carpenter, receiver for the First National Bank of Kingston, has filed a civil suit in Federal Court here
Source
newspapers
4. * Suspension
Cause Details
Bank described as defunct and in receivership; specific cause of closure not mentioned.
Newspaper Excerpt
The note was held by the defunct bank.
Source
newspapers

Newspaper Articles (2)
1. September 14, 1932 The Knoxville News-Sentinel Knoxville, TN
Article from The Knoxville News-Sentinel, September 14, 1932

Click image to open full size in new tab

Article Text

Bank Receiver Sues on Note Carpenter, receiver for the First National Bank of Kingston, has filed a civil suit in Federal Court here against O. B. Williford. Mary Hood Williford and Nick Williford, all of Roane County, for collection of note for $2725. plus per cent interest and attorney fees. The note was held by the defunct bank.

2. October 13, 1932 Bristol Herald Courier Bristol, TN
Article from Bristol Herald Courier, October 13, 1932

Click image to open full size in new tab

Article Text

HOLSTON UNION BANK RECEIVER REPORTS KNOXVILLE, Oct. 12. Carpenter, receiver for the defunct Holston-Union National Bank, released his third quarterly report today showing that $4,086,370.94 has been paid to depositors. It revealed that approximately half the assets of the bank at the time it closed have been liquidated. but on the 100 per cent stock assessment of $750,000 total of $356,394 is still outstanding Because of an agreement for exchange assets with the Hamilton National Bank, which expires July 1, it was indicated that second payment to depositors would not be made until after then. A. first payment of 40 per cent was made about year ago. Carpenter is also receiver for the National Bank of Franklin, Tenn., First National Bank of Sweetwater and First National Bank of Kingston. Reports showed that depositors of the four banks, including the Holston Union, have been paid more than $4,500,000 on de$14.95 posits.