17378. Farmers & Merchants Bank (Ehrhardt, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1921*
Location
Ehrhardt, South Carolina (33.097, -81.014)

Metadata

Model
gpt-5-mini
Short Digest
8bea9ca7fa609d8a

Response Measures

None

Description

Newspaper text (Apr 20, 1922) states the Farmers & Merchants Bank of Ehrhardt 'for the past year or so has been closed and is now in the hands of receivers.' A court suit concerning the bank's conduct is referenced, suggesting bank-specific adverse information leading to suspension and receivership. No run is mentioned in the articles.

Events (2)
1. April 1, 1921* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed after problems in conduct of affairs; related litigation (Joe E. Bishop, et al. vs. the Farmers and Merchants Bank).
Newspaper Excerpt
the Farmers and Merchants Bank, of Ehrhardt, which for the past year or so has been closed and is now in the hands of receivers.
Source
newspapers
2. April 20, 1922 Receivership
Newspaper Excerpt
which for the past year or so has been closed and is now in the hands of receivers. ... A legal notice to depositors and others interested in this matter appears in another place of this paper. (The Bamberg Herald, 1922-04-20).
Source
newspapers

Newspaper Articles (2)
1. April 20, 1922 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, April 20, 1922

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Article Text

# Bank Reference Friday. A reference will be held before a special referee at the court house Friday in the matter of Joe E. Bishop, et al., vs. the Farmers and Merchants Bank, et al. This is the first move in this suit, which involves the conduct of the affairs of the Farmers and Merchants Bank, of Ehrhardt, which for the past year or so has been closed and is now in the hands of receivers. Edward S. Croft, Esq., of the Aiken bar, has been appointed by the court special referee to take the testimony in this case, which will probably be of far reaching consequences, involving many delicate points of law and concerning a large portion of the population of Ehrhardt and community. A legal notice to depositors and others interested in this matter appears in another place of this paper.

2. September 14, 1922 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, September 14, 1922

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Article Text

Death Claims E.E. Hughes of Ehrhardt E. E. Hughes, one of Bamberg county's prominent citizens, died at his home in Ehrhardt last Sunday morning at 4 o'clock. Mr. Hughes had been in ill health for some time, although the end came as a shock to his relatives and friends. Mr. Hughes had been actively engaged in business for some years as cotton buyer at Ehrhardt, and he became vice president of the Farmers and Merchants Bank a short time before it went into the hands of a receiver. When the doors of the bank were closed, Mr. Hughes was appointed as one of the receivers, and he continued in this position until his death. Mr. Hughes resided here many years ago, but for a time he lived in Alabama, returning here some 15 years ago. Since that time he has made his home at Ehrhardt, where he was held in high esteem by his many friends and acquaintances. He was 73 years of age. His widow survives him. He had no children. He was a brother of Haigler Hughes, of Ehrhardt. The remains were interred Monday afternoon in the presence of a large concourse of friends and relatives. The funeral services were held in the Lutheran church, of which he was a faithful member, on Monday afternoon. Rev. Groseclose and Rev. Ballentine officiated. Interment took place in the Ehrhardt cemetery.