17482. Citizens Trust Company (Rock Hill, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
February 1, 1927*
Location
Rock Hill, South Carolina (34.943, -81.021)

Metadata

Model
gpt-5-mini
Short Digest
9abf84d4cf0e99d2

Response Measures

None

Description

Articles describe the Citizens Trust Company of Rock Hill as defunct, in receivership, and arranging partial payment (75%) to depositors; no evidence of a depositor run. A receiver and the National Union Bank/First Trust arrangements indicate permanent closure and receivership rather than a temporary suspension and reopening. OCR errors in the articles were corrected for clarity (e.g., 'tors the defunct and Company' interpreted as 'for the defunct Citizens Trust Company').

Events (2)
1. February 1, 1927* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as 'defunct' and placed in receivership/closed; insolvency or business failure of the institution led to suspension/closure
Newspaper Excerpt
BANK TO PAY DEPOSITORS 75 PER CENT ... the defunct Citizens Trust Company ... the National Union would pay 75 per cent of their deposits in the Citizens Trust Company ... directors stockholders Citizens Trust Company ... made arrangements with First Trust and Realty Company to take charge of such business of the Citizens Trust Company
Source
newspapers
2. July 25, 1927 Receivership
Newspaper Excerpt
Mann Directs Receiver To Give Solicitor Access All Records of Closed Bank ... careful and systematic investigation of the affairs the defunct Citizens Trust company of Rock Hill ... ordered, That the National Union bank of the Citizens Trust Co., permit solicitor ... inspect the books and records which has in its possession by the receivership ... turn over to the solicitor ... the two audits which have been made since January 1927 . . . report their acts and findings at the September term of court in York .
Source
newspapers

Newspaper Articles (3)
1. February 23, 1927 The Charlotte News Charlotte, NC
Article from The Charlotte News, February 23, 1927

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Article Text

BANK TO PAY DEPOSITORS 75 PER CENT Rock Hill S. C., tors the defunct and Company will be paid 75 per to ductions here today nouncement of W. dent of the receivers for the that the National Union would loans to of 40 cent of their their deposits in the Citizens to used While Mr Roddey said that he does not to make com. ment further than the announce here familiar with the business attitude of the National Union hazrad the prediction that officers of the Na. tional would not make such offers unless they at this time of eventually paying approximately eighty which is about usual ments for safety the local institumust have for No state from officers was given out what they believe will be paid, however. also given that directors stockholders Citizens Trust Company. an al lied to the Citizens made arrangements with First Trust and Realty Company to take charge of such business of the Citizens Trust Company as insur ance in the latter stitution decide to give the First Trust A woman of makes her living by catching snakes and selling them to showmen.

2. July 26, 1927 The Item Sumter, SC
Article from The Item, July 26, 1927

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Article Text

ORDERED Mann Directs Receiver To Give Solicitor Access All Records of Closed Bank July 25. careful and systematic investigation of the fairs the defunct Citizens Trust company of Rock Hill Solicitor Lyles Glenn Chester, the object prosecuting the criminal courts who may be guilty of violation of the has made posby the of der filed here today directing the Union bank, give the access all the records of the institution. The order signed by Judge Mann presided at the term of here, issued in with of the York county grand jury, of which RobAllison, York man, foreman. The text of the order follows: ordered, That the National Union bank of the CitiBank Trust Co., permit solicitor and the grand committee from the grand jury, inspect the which has in by reason the the receiver, its cooperate with the solicitor checking over the books the stitution with view of taining whether not any the banking laws of the been violated." "That it is not the purpose intention of this order require the receiver to move all the books records Chester to York; but to the solicitor and the grand jury free access them." further ordered, That the receiver turn over to the solicitor for his use and for the grand copies the two audits which have made since January 1927. further ordered, That solicitor the grand jury make report their acts and findings the September term of court in York."

3. July 28, 1927 The Gaffney Ledger Gaffney, SC
Article from The Gaffney Ledger, July 28, 1927

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Article Text

SOLICITOR Receiver of Rock Hill Bank rected to Assist in Investigation. York, July careful and affairs of the defunct Citizens Trust Company, of Rock Hill by Solicitor of Chester, with the ject prosecuting in the criminal courts who may guilty of lation of the state banking laws, has been made the issuance here today directthe National Union Bank, give the solicitor access the of the institution. The order signed by Judge Mann, Matthews, who presided recent term court here, issued in compliance with recommendation the York county grand of which Robert Allison, business The text of the order ordered, That the National Union Bank of the Bank Trust Company permit the solicitor and the grand jury, committee from the grand jury inspect the books and records which has in its possession by the receivership. That the receiver, officers agents, the solicitor operate the books of the institution with the view whether not of the banking laws of the any have not the purpose tention this order require the receiver move all the books and records Chester York, give the solicitor and the grand access them. further ordered, That the ceiver turn the solicitor for and for the grand copies the audits which have been made since January 1927. further ordered, That the licitor and grand jury make port their acts and findings at September term of court in