Bank of Anderson - Anderson, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 2, 1927
Location: Anderson, South Carolina (34.503, -82.650)

Metadata

Model: gpt-5-mini
Short Digest: 0ec97769

Response Measures

None

Description

Notice states the bank having defaulted in the payment of deposits and pledged bonds to secure state deposits; no run is mentioned. The bank appears to have failed and been placed into a process culminating in an auction by the state treasurer, consistent with permanent closure/receivership.

Events (3)

1. December 2, 1927 Receivership

Newspaper Excerpt: Said bonds having been pledged with the state treasurer of South Carolina by the Bank of Anderson ... to secure state deposits but said bank having defaulted in the payment of deposits.
Source: newspapers

2. December 2, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank defaulted in the payment of deposits (insolvency/default), pledged bonds to secure state deposits; indicates bank failure.
Newspaper Excerpt: Said bonds having been pledged with the state treasurer of South Carolina by the Bank of Anderson, Anderson, S. C., to secure state deposits but said bank having defaulted in the payment of deposits.
Source: newspapers

3. December 20, 1927 Other

Newspaper Excerpt: Will sell at public auction ... eighteen (18) $500 ... Said bonds having been pledged ... to secure state deposits but said bank having defaulted in the payment of deposits. H. SCARBOROUGH, Treasurer State of South Carolina.
Source: newspapers

Newspaper Articles (1)

1. December 2, 1927 The State Columbia, SC

Article from The State, December 2, 1927

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Article Text

Notice is hereby given that will sell at public auction to the highest bidder for cash, in the office of the state treasurer, in the State Capitol, Columbia, S. C., at twelve (12) o'elock noon of Tuesday. the 20th day of December, 1927, eighteen (18) $500 six and twenty drainage district bonds of the county of Anderson due 1942, bearing interest at the rate of six (6%) per cent. Interest payable January and July Said bonds having been pledged with the state treasurer of South Carolina by the Bank of Anderson. Anderson, S. C., to secure state deposits but said bank having defaulted in the payment of deposits. H. SCARBOROUGH, Treasurer State of South Carolina.