157. First National Bank (Lineville, AL)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
7516
Charter Number
7516
Start Date
November 25, 1905
Location
Lineville, Alabama (33.311, -85.754)

Metadata

Model
gpt-5-mini
Short Digest
c43c6e0e3e128649

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1905-11-24
Date receivership terminated
1906-12-31
OCC cause of failure
Losses
Share of assets assessed as good
42.6%
Share of assets assessed as doubtful
15.6%
Share of assets assessed as worthless
41.8%

Description

The bank was closed by order of its board of directors and a national bank examiner was appointed receiver (per multiple Nov. 25โ€“27, 1905 dispatches). Birmingham dispatch notes the board ordered a temporary closing in consequence of a threatened run, due to some rumors, but a receiver was appointed and the bank was closed, so this is a suspension that resulted in permanent closure/receivership. Date uses the Nov. 25, 1905 reporting date.

Events (4)

1. December 16, 1904 Chartered
Source
historical_nic
2. November 24, 1905 Receivership
Source
historical_nic
3. November 25, 1905 Receivership
Newspaper Excerpt
National Bank Examiner S. H. L. Cooper has been appointed receiver.
Source
newspapers
4. November 25, 1905 Suspension
Cause
Rumor Or Misinformation
Cause Details
Directors ordered the bank temporarily closed in consequence of a threatened run, due to some rumors.
Newspaper Excerpt
The First National bank of Lineville, Ala., had been closed by order of the board of directors.
Source
newspapers

Newspaper Articles (10)

Article from Evening Journal, November 25, 1905

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Article Text

Bank Suspends. By Publishers' Press. Washington, Nov. 25.-The First National Bank of Lineville, Ala., has been closed by order of its board of directors. National bank examiner S. H. L. Cooper has been appointed receiver. The resources and liabilities of the bank at the close of business on November 9, 1905, were $75,102 each.


Article from The Topeka State Journal, November 25, 1905

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Article Text

National Bank Closes in Alabama. Washington, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Birmingham Age-Herald, November 26, 1905

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Article Text

FIRST NATIONAL OF LINEVILLE CLOSES It Is Belleved That the Affairs of the Institution Will Soon Be Adjusted. Washington, November 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business on November 9, 1905, as shown by the last report of condition made to the comptroller: Resources: Loans and discounts, $44,802. United States bonds to secure circulation, $0250. Bonds, securities, etc., $628. Banking house and furniture and fixtures, $1798. Due from banks and bankers, $17,496 Checks and other cash items, $3815. Redemption fund, $312. Total, $75,102. Liabilities: Capital stock, $25,000. Surplus and undivided profits, $406. Circulating notes, $6250. Due to banks and bankers, $1052. Individual deposits, $24,415. Bills payable and rediscounts, $17,077. Total, $75,102. Talladega, November 25.-(Special.)-The directors of the Lineville bank ordered it temporarily closed on Thursday, in consequence of a threatened run, due to some rumors. It is not thought that any one will lose money by this action, or that the closing will be permanent. An examiner investigated the affairs of the bank today. It is hoped, and believed, that the difficulties of this institution will be but temporary.


Article from Omaha Daily Bee, November 26, 1905

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Article Text

Alabama Bank Fails. WASHINGTON, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville. Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from Americus Times-Recorder, November 26, 1905

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Article Text

Alabama Bank Closes Doors. Washington, Nov. 25.-The comp troller of currency was advised today that the First National bank of Lineville, Ala., has been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver. The state. ment of the resources and liabilities of the bank at the close of business on November 9, 1905, as shown by the last report of condition made to the comptroller, showed liabilities to be $75,102; resources the same amount.


Article from Twice-A-Week Plain Dealer, November 28, 1905

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Article Text

Alabama Bank Closed. Washington, Nov. 27.-The comptroller of the currency has been advised that the First national bank of Lineville, Ala, had been closed by order of the board of directors, National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from New Ulm Review, November 29, 1905

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Article Text

Alabama Bank Closed. Washington, Nov. 27.-The comptroller of the currency has been advised that the First national bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Plymouth Tribune, November 30, 1905

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Article Text

National Bank Closed. The First National Bank of Linevitle, Ala.. has been closed by order of its board of directors. National Bank Examiner S. H. Cooper has been appointed receiver. The resources and liabilities of the bank were $75.102 each.


Article from The Bamberg Herald, November 30, 1905

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Article Text

BANK DOORS ARE CLOSED. National Institution in Alabama Forc. ed to Quit Business. A Washington dispatch says: The comptroller of the currency was advised Saturday that the First National Bank of Lineville, Ala., has been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Montgomery Advertiser, February 2, 1906

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Article Text

J. E. Easterwod of Corning died at 3 o'clock yesterday afternoon from injuries sustained in an accident of about a week ago, in which the child's clothing was burned off and the body badly burned. The little one had suffered patiently and everything known to medical science was done for his relief. but without avail. The parents lost a child in the same manner about three years ago. In each case the child while left alone for a moment played with the fire in an open grate. The right of way through Clay County for the A. B. and A. Railroad, which Lineville is under contract to secure, will soon be in readiness for the offcials of the road and work will then begin through Clay County. Mr. Adams has been in town several days getting land numbers in shape for the right of way committee. Col. J. A. Vines of Johnston City, Tenn., has been appointed receiver for the First National Bank at Lineville. Mr Vines is Mayor of his town and a young attorney of high standing at the bar. Dr. J. R. Stodghill, who has been pastor of Lineville Baptist Church for eight years, has moved to Albertville. Dr. Stodghill was also editor of The Lineville Headlight. As pastor, editor and citizen he will be missed in the town. Dr. John P. Shoffer of Roanoke has been chosen pastor of the Baptist Church and R. F. Dawson has purchased The Headlight and will be publisher and editor. Mrs. J. J. McPherson, a highly respected resident of this city for many years, died at 3 o'clock Tuesday afternoon at the home of her husband, corner Seventeenth Street and Dooley Avenue. She leaves a husband and two children.