First National Bank - Greensboro, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5693
Charter Number: 5693
Start Date: August 6, 1931
Location: Greensboro, Alabama (32.705, -87.596)

Metadata

Model: gpt-5-mini
Short Digest: 75dc748d

Response Measures

None

Receivership Details

Depositor recovery rate: 8.0%
Date receivership started: 1931-07-21
Date receivership terminated: 1937-05-18
OCC cause of failure: Governance
Share of assets assessed as good: 34.6%
Share of assets assessed as doubtful: 56.5%
Share of assets assessed as worthless: 8.9%

Description

Article (Greensboro Watchman, 1931-08-06) states the First National Bank of Greensboro is closed and that W. H. Montgomery is in charge as receiver. No run or depositor panic is mentioned. Closure appears to be by appointment of a receiver (government action).

Events (4)

1. January 26, 1901 Chartered

Source: historical_nic

2. July 21, 1931 Receivership

Source: historical_nic

3. August 6, 1931 Receivership

Newspaper Excerpt: Mr W H Montgomery of Birmingham is in charge of the affairs of the closed First National Bank of Greensboro as receiver. He tells us that he has nothing of interest to give out at present as to the policy to be pursued by the Government in settling the affairs of the bank, but hopes to be in a position to do so at an early day.
Source: newspapers

4. August 6, 1931 Suspension

Cause: Government Action
Cause Details: Bank closed and placed in receivership; receiver appointed to settle affairs.
Newspaper Excerpt: Mr W H Montgomery of Birmingham is in charge of the affairs of the closed First National Bank of Greensboro as receiver.
Source: newspapers

Newspaper Articles (1)

1. August 6, 1931 Greensboro Watchman Greensboro, AL

Article from Greensboro Watchman, August 6, 1931

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Article Text

BANK RECEIVER HERE Mr W H Montgomery of Birming ham is in charge of the affairs of the closed First National Bank of Greensboro as receiver. He tells us that he has nothing of interest to give out at present as to the policy to be pursued by the Government in settling the affairs of the bank, but nopes to be in a position to do 30 at an early day. Mr Montgomery is a brother of the State Superintendent of Banks of Alabama, and is an elegant young gentleman, and of course is a man of merit or else he would not have been assigned to the important position he is now occupying. WANTED-A Dairyman who can take care of Forty Cows, L SLEDGE. 1wkp