20135. Laurens National Bank (Laurens, SC)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10652
Charter Number
10652
Start Date
January 1, 1928*
Location
Laurens, South Carolina (34.499, -82.014)

Metadata

Model
gpt-5-mini
Short Digest
378ebf09

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1928-02-15
Date receivership terminated
1929-08-31
OCC cause of failure
Governance
Share of assets assessed as good
47.8%
Share of assets assessed as doubtful
35.3%
Share of assets assessed as worthless
16.9%

Description

Articles (Jul 1928) state the Laurens National Bank 'was closed several months ago' and 'affairs have been in the hands of National bank receiver for several months.' A 1929 article discusses liquidation and payments by the receiver. No article describes a depositor run. Thus this is a suspension leading to permanent closure/receivership and liquidation.

Events (5)

1. October 27, 1914 Chartered
Source
historical_nic
2. January 1, 1928* Suspension
Cause Details
Closed by board of directors; later placed in hands of national bank receiver. Articles do not attribute closure to a run or specific cause in text provided.
Newspaper Excerpt
Laurens National bank, which was closed several months ago by order of the board of directors
Source
newspapers
3. February 15, 1928 Receivership
Source
historical_nic
4. July 7, 1928 Receivership
Newspaper Excerpt
The bank's affairs have been in the hands of National bank receiver for several months. J. Adams, former president ... was placed under bond ... to answer to the charge of making false entries and misapplying the funds of the bank. The bank affairs have been in the hands of National bank receiver for several months. (Greenville News, Jul 8, 1928 / The State, Jul 8, 1928).
Source
newspapers
5. May 10, 1929 Other
Newspaper Excerpt
With the aim of informing public banks The News and Courier obtained the figures relation the Laurens National ... The receiver's salary ... The residue assets ... the $152,934.71 been paid ... All expenses ... balance turned agent claims ... what stockholders paid eventually ... legal expenses ... the man that done. (Greenville News/Courier, May 10, 1929).
Source
newspapers

Newspaper Articles (3)

Article from The Greenville News, July 8, 1928

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Article Text

Former President Of Laurens Bank Placed Under Bond LAURENS, July 7.-(Special) -J. Adams, former president of the Laurens National bank, which was closed several months ago by order of the board of directors was today placed under bond of $3,000 here for his appearance at the October term of United States court at Greenville to answer to the charge of making false entries and misapplying the funds of the bank. The bank affairs have been in the hands of National bank receiver for several months. Mr. Adams waived preliminary hearing. Democrat! And as much as I love and revere that wonderfully inspiring song. 'Onward. Christian Soldiers. which I understand is to be Hoover's anthem, like "The Sidewalks of New York. better than to have to fall in with the anthem adopted by the Republican party if have to sing or whistle with Vare. Doheny, or Fall and Sinclair -but need not go through with a long catalog of those whom hope won't be allowed to profane the sacred song above quoted Mayor Dean asserted It was his first public declaration of his con victions pertaining to the coming presidential election. believe. he added. "on sober reflection that not many, when it comes to showdown. of our Democrats in the Southland will care to join with the plunderbund. Coming back to horseback riding directly Mayor Dean stated that have always enjoyed horseback riding. and got lot of my experience in this exercise in 1876, when as 12-year-old boy wore a red shirt and rode with my father's big company from Duncan to the Spartanburg courthouse to hear Hampton and Simpson and the silver-tongued Youmans proclaim the doctrine of Democracy and home INSPECTS IMPROVEMENTS Although he chooses to keep his morning rides strictly within the bounds of pleasure and exercise. Mayor Dean's busy mind and crowded program cannot be left entirely behind when he goes out with Bonnie Jean He sometimes directs his steed along routes that enable him to make inspections of the many public improvements that have been inaugurated in the city since he came into office But mostly he rides for the pure enjoyment of the sport, leaving the elements of business to later hours of the day when he uses the more practical and less romantic automobile to go about his public duties Mayor Dean 15 one of the few Greenville men who are habitual horseback riders And he plans to adhere to the sport because he is an excellent rider. because he loves the sport. and because affords him valuable source of pleasure and re-


Article from The State, July 8, 1928

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Article Text

HIT-RUN DRIVER STRIKES GIRL TOT Speeding Car Eludes Pursuing Sheriff. Special to The State. Winnsboro, July near fatal occurred here about 12 45 today when a hit and run driver of Buick closed car with two white struck the three daughter of Mr and Mrs Robert of innsboro village B. Walker states that he had stopped at the intersection with Co. lumbia road through the village at pharmacy to the pass then turned into the behind the Buick he said, about an hour About block below he noticed the child lying the dle of the road. but dust prevented him from seeing the license the Lindsay up the same time and assisted in caring the little Sher Macfie was notified and pur. sued the car north till he burned the bearings out of his Chrysler roadster. National Guardsmen ing south told the sheriff that he was about when he had stop The hild regained consciousness this afternoon, and while seemingly there were broken fractured the internal injuries has not been determined. X. Special to The State Laurens, July J. Adams, for mer president of the Laurens National bank, which was closed sev eral months ago by order of the board of directors, was today placed under bonds of $3,000 here for his appear ance at the October term of United States court Greenville to answer charges of making fals entries and misapplying the funds of the bank The bank's affairs have been in the hands of national bank receiver for several months Adams waived preliminary hearing.


Article from The Greenville News, May 10, 1929

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Article Text

LIQUIDATION OF Editorial Charleston and Courier in With the aim of informing public banks The News and Courier obtained the figures relation the Laurens National which tofore referred. presents them readers. February about payment cent their posits for year after the suspencapital the bank $50,000. Albert representing troller from bills from other assets from assets after suspension from interest from stockholders From the residue assets to agent the who collect and them services, realized. the $152,934.71 been paid. The receiver's salary, about buving in lands (turned over agent the stockholders probably worth $10,000) costs paid. All expenses, printing, postage, forth, hand cash out of which the dividend remaining legal expenses (which will circumstances exceed $1,000), balance turned agent claims not amounting What stockholders paid eventually they other expense the words The legal expenses were The News and Courier has opinion that national banks that state that receivers much South Carolina. sums them defunct probably been larger Laurens. More banks have been closed South Carolina eight Ninety 95 them have banks. Three depositors without detailed information their costs liquidation. The state department furnish The Courier would know publish the histories some these ticularly the items lawyer's that the the man that done.