Home National Bank - Lexington, SC

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 9296
Charter Number: 9296
Start Date: November 1, 1916
Location: Lexington, South Carolina (33.982, -81.236)

Metadata

Model: gpt-5-mini
Short Digest: 037d94fd

Response Measures

Accommodated withdrawals, Books examined

Other: Directors provided guaranty and cashier's bond expected to cover shortage.

Description

Article reports discovery of embezzlement by the cashier who fled; a small run occurred but all checks were honored and directors' guaranty and the cashier's bond protected depositors. No suspension or closure is mentioned.

Events (3)

1. December 19, 1908 Chartered

Source: historical_nic

2. November 1, 1916 Run

Cause: Bank Specific Adverse Info
Cause Details: Discovery of discrepancies/shortage in accounts; cashier Alfred J. Fox alleged to have falsified accounts and fled (embezzlement).
Measures: All checks honored; directors gave a guaranty and cashier's surety bond expected to protect depositors; bank continued operating under president and assistant cashier.
Newspaper Excerpt: A small run on the bank occurred yesterday but all checks presented were honored as usual and a number of patrons made deposits on learning that steps had been taken to insure continuance of operations on a sound basis.
Source: newspapers

3. July 15, 1930 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. November 4, 1916 The Watchman and Southron Sumter, SC

Article from The Watchman and Southron, November 4, 1916

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Article Text

WARRANT FOR BANK CASHIER. ALLEGED SHORTAGE IN ACCOUNTS OF ALFRED C. FOX OF LEXINGTON. Man is Said to Have Left for Parts Unknown, While His Shortage is Covered by His Bond and Guaranty of Directors-Amount Unknown. Columbia, Nov. 2.-Alfred J. Fox, cashier of the Home National bank of Lexington, is a fugitive, charged with falsifying his accounts to cover a shortage, the amount of which is undiscovered. A 'guaranty has been given by the directors which protects the despositors and the cashier's surey bond in turn is probably adequate to safeguard all concerned, in the opinion of the examiner, J. William Pole, by whom the warrant against Fox was sworn out. A small run on the bank occurred yesterday but all checks presented were honored as usual and a number of patrons made deposits on learning that steps had been taken to insure continuance of operations on a sound basis. Discrepancies in the accounts of the bank were discovered Tuesday, October 24, in an examination made in the regular eourse, at which the cashier was present. The examiner, after investigtaing certain items, took out a warrant last Friday before the United States commissioner, R. Beverly Sloan, in Columbia, for the arrest of the cashier. Fox meantime disappeared and efforts to obtain service of the warrant have so far been fruitless. Fox is charged with violation of section 5209, revised statutes of the United States, which covers embezzlement and the various devices by which defalcations are concealed. Examiner Pole said last night that he held both the cashier's bond and a personal guaranty, signed by directors, all responsible men, and these would secure depositors absolutely. The bank has, he said, capital stock in the sum of $50,000, with a surplus of about $10,000 and undivided profits of about $5,000. The institution was operating normally, he said, under the direction of the president, S. B. George, and the assistant cashier. Among the directors are Samuel B. George, T. P. Meetze, J. P. Drafts, J. J. Wingard and C. F. Oswald. How long the iregularities complained of have been going on the examiner would not undertake to say, but he thought it unlikely that they extended beyond the previous examination, made about six months ago. He said he could not undertake to say what was the amount of the shortage this could hardly be known certainly until the books shall have been audited; nor did he think it consonant with his duty to attempt an approximation of the amount. The directors would engage an auditor, subject to approval by the examiner, and would have a careful study made of the records. Mr. Pole was confident that service of the warrant for the missing cashier would be had before long.