National Bank - Chester, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1804
Charter Number: 1804
Start Date: January 2, 1931
Location: Chester, South Carolina (34.705, -81.214)

Metadata

Model: gpt-5-mini
Short Digest: 9b89225d

Response Measures

None

Description

Article reports the National Bank (Chester, SC) closed on January 2, 1931 and was taken over by the Comptroller; receivers were appointed Jan 27, 1931. No run or depositor panic is described; government takeover and receivership indicate suspension leading to permanent closure.

Events (5)

1. March 22, 1871 Chartered

Source: historical_nic

2. March 2, 1891 Voluntary Liquidation

Source: historical_nic

3. January 2, 1931 Suspension

Cause: Government Action
Cause Details: Taken over by the Comptroller of the Currency after closure; closure by federal authority.
Newspaper Excerpt: The bank closed January 2, 1931.
Source: newspapers

4. January 27, 1931 Receivership

Newspaper Excerpt: The receivers were appointed January 27, 1931.
Source: newspapers

5. March 11, 1933 Other

Newspaper Excerpt: Judge J. Lyles Glenn accepted the resignation of N. M. McDill of Chester as one of the receivers of the Peoples State Bank ... the resignation would not in any way affect the receivership of the institution.
Source: newspapers

Newspaper Articles (1)

1. March 11, 1933 Florence Morning News Florence, SC

Article from Florence Morning News, March 11, 1933

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Article Text

McDill Resigns As Bank Receiver Judge J. Lyles Glenn -Federal the resignation of today accepted N. M. Mckill of Chester as one of of the 44-unit Peoreceivers three ples State Bank of South Carolina. The acceptance was recorded here. in order filed in federal court an that to the "opinthe order stating court" no more than of the receivers are necessary because of general economic of the Napresident tional Bank of Chester which was taken over yesterday by the comptroller of the currency aflast Saturday. M. ter closing Barnett, Jr., Bank of exam- the was placed in charge iner, The remaining receivers of the Peoples State Bank are Robert Elliott Gam of Chester and William Columbia. The receivers were appointed January 27, 1931. Judge Glenn was in Rock Hill today and said there that McDM's resignation would not "in any way affect the receivership" of the institution the judge would not comment merely saying he "signed formal order accepting the The bank closed January 2. 1931, when it had approximately depositors with more than $24,000,000 on deposit.