Commercial Bank - Blackville, SC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: November 18, 1921
Location: Blackville, South Carolina (33.358, -81.271)

Metadata

Model: gpt-5-mini
Short Digest: da195d11

Response Measures

None

Description

Bank suspended on Nov 18, 1921 for lack of ready cash (illiquid loans) and reopened after state examiner found it solvent and depositors agreed not to withdraw for a short time. No explicit run described in the article.

Events (2)

1. November 18, 1921 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Lack of ready cash and inability to realize loans quickly (loans were good but illiquid).
Newspaper Excerpt: This bank suspended business November 18, due to the lack of ready cash,
Source: newspapers

2. December 10, 1921 Reopening

Newspaper Excerpt: Following an examination made by James H. Craig, state bank examiner, the Commercial Bank, of Blackville, was reopened Saturday morning, according to a statement by Mr. Craig. ... Under an agreement signed by the depositors whereby they will not withdraw their money for a short time, the bank was reopened and should succeed without further trouble, Mr. Craig believes.
Source: newspapers

Newspaper Articles (1)

1. December 15, 1921 The Bamberg Herald Bamberg, SC

Article from The Bamberg Herald, December 15, 1921

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Article Text

BLACKVILLE BANK REOPENS. Examiner James H. Craig Says Institution is Perfectly Solvent. Following an examination made by James H. Craig, state bank examiner, the Commercial Bank, of Blackville, was reopened Saturday morning, according to a statement by Mr. Craig. This bank suspended business November 18, due to the lack of ready cash, but after an examination by the state bank examiner, the bank was found to be solvent and was allowed to reopen for business Saturday. Mr. Craig made two examinations of the business of the bank and found the institution to be absolutely sound, he said Saturday. "The bank was forced to close business because of the lack of ready cash and inability to realize readily on its loans, which were considered perfectly good, but not liquid as a quick asset," Mr. Craig said. These conditions did not warrant the closing of the institution, Mr. Craig said, and as a matter of fact it would have been almost a crime to close up a bank in as good condition as the Blackville institution, the examiner added. Under an agreement signed by the depositors whereby they will not withdraw their money for a short time, the bank was reopened and should succeed without further trouble, Mr. Craig believes. Only a short time agreement was entered into, as the bank will be all right within this period. The depositors and creditor banks all cooperated fully with the state bank examiner and the directors of the institution.