18171. Peoples Savings Bank & Trust Company (Nashville, TN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
November 1, 1930*
Location
Nashville, Tennessee (36.166, -86.784)

Metadata

Model
gpt-5-mini
Short Digest
302859904ec439df

Response Measures

None

Description

Articles describe the People's Bank Trust Company (a black-owned institution in Nashville) as having closed in November 1930, being insolvent, placed in receivership, and later the receiver (State Superintendent Robertson) authorizing dividends in 1932. No run is mentioned; the bank was closed and in liquidation/receivership.

Events (5)
1. November 1, 1930* Receivership
Newspaper Excerpt
Receiver for Defunct Institution Authorizes Payment ... Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930. was Friday by Robertson, State Superintendent Banking (published 1932-05-13). The institution is referred to as the insolvent People's Bank Trust Company in later articles describing receiver actions and judgments against its paper.
Source
newspapers
2. November 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent and closed (went under) in November 1930; later placed in receivership and liquidated.
Newspaper Excerpt
Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930.
Source
newspapers
3. May 13, 1932 Other
Newspaper Excerpt
Dividend Is Paid By People's Bank ... Receiver for Defunct Institution Authorizes Payment ... Payment of 25 per cent dividend ... was Friday by Robertson, State Superintendent Banking. ... Another dividend to be paid this is anticipated.
Source
newspapers
4. December 24, 1932 Other
Newspaper Excerpt
judgment for $37,391.47 was rendered in the second chancery court against the National Baptist Convention ... for notes the insolvent People's Bank Trust Company, of this city, last week.
Source
newspapers
5. January 12, 1933 Other
Newspaper Excerpt
The judgment of $41,000 which the receivers of the People's Trust and Savings Bank ... was compromised ... receivers allowed a decrease in the judgment to be entered ... Terms were allowed for payment of the judgment ... notes ... were in the bank at the time of its closing.
Source
newspapers

Newspaper Articles (3)
1. May 13, 1932 Nashville Banner Nashville, TN
Article from Nashville Banner, May 13, 1932

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Article Text

Dividend Is Paid By People's Bank Receiver for Defunct Institution Authorizes Payment Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930. was Friday by Robertson. State Superintendent Banking There will be out approximately 6,000 checks White depositors of the the to approximately Robertson the dividends would have authorized but for the fact there delay of one an effort was being reorganize the had been one of leading Negro of this section. was also that had been enabled liquidate but the $25,000 bills payable of the Another dividend to be paid this is anticipated. according Superintendent Robertson

2. December 24, 1932 The Afro-American Baltimore, MD
Article from The Afro-American, December 24, 1932

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Article Text

COURT ORDERS BAPTISTS TO $37,391 NASHVILLE, judgment for $37,391.47 was rendered in the second chancery court against the National Baptist Convention of the United States of America, District of corporation, for notes the insolvent People's Bank Trust Company, of this city, last week. receivers for the insolvent presented amount with $2,000 additional The latter was deattorney's ducted allowances made rent of the bank building ownby and reoeiver bank, conducthis there. judgreturned against convention and its sureties on the obligations. National Convention is the The group Baptists. Sunday School Board of the National Baptist M. Townsend

3. January 12, 1933 The Northwest Enterprise Seattle, WA
Article from The Northwest Enterprise, January 12, 1933

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Article Text

Baptists Get $17,000 Cut From Judgment NASHVILLE, Tenn.-The judgment of $41,000 which the receivers of the People's Trust and Savings Bank, a colored institution here, got against the Sunday School Publishing Board of the National Baptist Convention, was compromised last week, when the receivers allowed a decrease in the judgment to be entered in the court records of $17,000. Terms were allowed for payment of the judgment which was secured on the basis of notes of the publishing board which were in the bank at the time of its closing.