19868. Bishopville National Bank (Bishopville, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10872
Charter Number
10872
Start Date
January 2, 1932
Location
Bishopville, South Carolina (34.218, -80.248)

Metadata

Model
gpt-5-mini
Short Digest
03d57222

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1932-01-12
Date receivership terminated
1937-03-23
Share of assets assessed as good
18.8%
Share of assets assessed as doubtful
77.2%
Share of assets assessed as worthless
4.0%

Description

The bank suspended in early January 1932 and remained in receivership; articles from 1934 report receiver J. C. Seabury paying dividends while liquidating assets. No run is described in the articles. Cause of the suspension is not stated in these notices, so classified as 'other'.

Events (6)

1. July 1, 1916 Chartered
Source
historical_nic
2. January 2, 1932 Receivership
Newspaper Excerpt
J. C. Seabury, receiver for the Bishopville National Bank of Bishopville, announces the payment of a dividend ... This is the third dividend paid by this receiver since this bank suspended on January 2, 1932.
Source
newspapers
3. January 2, 1932 Suspension
Cause Details
Bank suspended on January 1–2, 1932; articles do not state a trigger or cause.
Newspaper Excerpt
This is the third dividend paid by this receiver since this bank suspended on January 2, 1932
Source
newspapers
4. January 12, 1932 Receivership
Source
historical_nic
5. March 22, 1934 Other
Newspaper Excerpt
BISHOPVILLE NATIONAL PAYS DIVIDEND TODAY ... The Bishopville National bank started paying off a 25 per cent dividend today, according to an announcement from J. C. Seabury, receiver for the bank.
Source
newspapers
6. August 22, 1934 Other
Newspaper Excerpt
C. Seabury, receiver for the Bishopville National Bank announces the payment of a dividend of twenty-three per cent on Wednesday, Aug. 22 ... This is the fourth dividend paid by this receiver since this bank suspended on January 2, 1932.
Source
newspapers

Newspaper Articles (3)

Article from The Item, March 21, 1934

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Article Text

Bishopville Bank Pays 25% Dividend J. C. Seabury, receiver for the Bishopville National Bank of Bishopville, announces the payment of a dividend of 25 per cent on March 22. 1934 to the creditors of said bank who have properly proven their claims with him. The dividend checks are now ready for distribution, so anyone entitled to receive same will please call at the bank and present their receiver's certificate of proof of claim. Checks will be mailed only to outof-town creditors. This is the third dividend paid by this receiver since this bank suspended on January 2, 1932, and makes total of 50 per cent distributed to the unsecured creditors. All of the secured creditors have been paid in full. and all loans obtained by the receiver from the Reconstruction Finance Corporation to assist in the payment of these dividends have been repaid in full.


Article from The Columbia Record, March 22, 1934

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Article Text

BISHOPVILLE NATIONAL PAYS DIVIDEND TODAY (Special The Record) BISHOPVIL March 22.-The Bishopville National bank started paying off a 25 per cent dividend today, according to an announcement from J. C. Seabury, receiver for the bank. The checks were distributed to the creditors upon the presentation of their receiver's certificate Or proof of claim. Checks were mailed to out-of creditors. This is the third dividend paid by the receiver since the bank suspended business January 1. 1932, and makes total of 50 per cent distributed to the depositors. The receiver said that all loans obtained from the Reconstruction Flnance corporation to assist in the payment of these dividends, have been repaid in full.


Article from The Item, August 22, 1934

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Article Text

Dividend Declared For Bishopville National Bank C. Seabury. receiver for the Bishopville National Bank announces the payment of a dividend of twenty-three per cent on Wednesday, Aug. 22. to the creditors of the bank who have properly proven their claims with him The dividend checks are now ready for distribution. No dividend checks will be delivered to anyone until they have signed a proper form of receipt and presented their receiver's certificate of proof of claim in order that said dividend may be endorsed on the back thereof This is the fourth dividend paid by this receiver since this bank suspended on January 2. 1932, and makes a total of seventy three per cent distributed to the unsecured creditors. The present dividend is being paid partly from funds collected by the receiver in the ordinary course of liquidation of the bank and partly from the proceeds of another loan obtained from the Reconstruction Finance Corpora tion. This loan is secured by lien on till of the remaining assets of the bank and must be repaid in full, with interest. before*any further dividend disbursement can be considered by the receiver.