Citizens Bank - Allendale, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1930*
Location: Allendale, South Carolina (33.008, -81.309)

Metadata

Model: gpt-5-mini
Short Digest: bad5beee

Response Measures

None

Description

Article (Nov 26, 1930) states the Citizens Bank of Allendale has closed and a receiver (James H. Warren) is paying dividends to depositors; no run is mentioned. Classified as suspension leading to closure with receivership (government action).

Events (3)

1. November 1, 1930* Suspension

Cause: Government Action
Cause Details: Bank closed and a receiver (James H. Warren) was appointed; payments being made under court/receiver orders.
Newspaper Excerpt: Since the Citizens Bank has closed, Mr. Warren has paid out to secured and unsecured depositors approximately $94,000.
Source: newspapers

2. November 26, 1930 Other

Newspaper Excerpt: The unsecured depositors have now received seventy per cent of their deposits and the general unsecured creditors have received fifty three per cent. The secured depositors have been paid approximately eighty-five per cent of their deposits.
Source: newspapers

3. November 26, 1930 Receivership

Newspaper Excerpt: James H. Warren, receiver of the Citizens Bank of Allendale, has announced that, under an order of Judge W. H. Townsend, he will pay unto the unsecured depositors and the general unsecured creditors of the Citizens Bank twenty per cent dividend.
Source: newspapers

Newspaper Articles (1)

1. November 26, 1930 The Columbia Record Columbia, SC

Article from The Columbia Record, November 26, 1930

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Article Text

ALLENDALE CITIZENS BANK PAYS DIVIDENDS (Special The Record) ALLENDALE. S. C., Nov. 26.James H. Warren, receiver of the Citizens Bank of Allendale, has announced that, under an order of Judge W. H. Townsend, he will pay unto the unsecured depositors and the general unsecured creditors of the Citizens Bank twenty per cent dividend Dividend checks are being mailed out now and should reach the depositors in time for The dividend being paid now IN the third dividend which the receiver has paid. The unsecured depositors he now received seventy per cent of their deposits and the general unsecured creditors have received fifty three per cent. The difference in the amount of dividends paid the depositors and the general unsecured creditors arises out 01 the fact that, under the law, the general unsecured creditors do not share in the funds collected out of the stockholders of the bank. The receiver states that the secured depositors have been paid approximately eighty-five per cent of their deposits. Since the Citizens Bank has closed, Mr. Warren has paid out to secured and unsecured depositors approximately $94,000 Total deposits secured and unsecured were approximately $120,000. The addresses of some of the depositors are unknown to the receiver and such checks will be held subject to the call of the depositor.