Citizens Bank - Seneca, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1930*
Location: Seneca, South Carolina (34.686, -82.953)

Metadata

Model: gpt-5-mini
Short Digest: 4b0d1f4f

Response Measures

None

Description

Articles report Citizens Bank of Seneca had closed and a receiver (Brazile) was appointed; charges of unlawful loans and prosecution are discussed. No explicit run is mentioned. Closure/receiver action indicates permanent failure/receivership.

Events (2)

1. January 1, 1930* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Allegations of unlawful loans and related insolvency/mismanagement led to the bank's closure; charges were brought forward by examiners (McDonald) and Fant's testimony describes unlawful loans prior to 1926 and acceptance of deposits in violation of law until the day before it closed.
Newspaper Excerpt: the bank closed in January 1930
Source: newspapers

2. February 25, 1932 Receivership

Newspaper Excerpt: Circuit Judge B. Greene, Anderson, signed an order making Brazille receiver The receiver's father paid in full his liability ... The Citizens Bank of Seneca. ... the examiner said, the next highest applicant was chosen Circuit Judge B. Greene, Anderson, signed an order making Brazille receiver The receiver's father paid in full his liability at stockholdhe added The Citizens Bank of Seneca. McDonald made unlawful loans which were called to the tention of the state bank examinoffice but no effort was made stop ... The bank examiner should prosecuted the bank stated. his were entered the Fant's charges answer entered complete against him have been made. (Feb 25, 1932 newspaper).
Source: newspapers

Newspaper Articles (2)

1. February 25, 1932 The Greenville News Greenville, SC

Article from The Greenville News, February 25, 1932

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Article Text

BANK EXAMINER PROBE IS BEGUN BY HOUSE GROUP (Continued from Page One) tion. is chairman of the committee are Phil and Chester was authorized funds stenographer from the Testimony was taken under McDONALD'S CHARGES McDonald's charges the floor the When the West. minster was closed and ceiver chosen, said Mr. Miller Mr Brazile 258. Brazile was not ed according law was appointed bank although father director and stock holder the he made the father would handle the affairs the and not McDonald did not the the comthem to McDonald said Miller receiver because debt he owed the bank which he did not Since no was made for second of receiver the examiner said the highest chosen and Circuit Judge Greene signed order Brazile The receiver's father in full liability CLAIMS UNLAWFUL LOANS The Citizens Bank Seneca, Mc. Donald said, made unlawful loans to the attention state bank but was office stop Questioned Fant, admitted that this was before Fant became bank in the fall 1926 Before then he was an assistant McDonald charged that president Seneca bank third closed institution statement he knew months the bank closed January, closed. He McDonald the closed. until the day before the law grand the house member did not return an indictment nephew was on and four members criminally connected The bank examiner should prosecuted the bank stated. his were entered the Fant's charges answer entered complete against him have been made.

2. February 25, 1932 Florence Morning News Florence, SC

Article from Florence Morning News, February 25, 1932

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Article Text

Just Around the Corner! mittee, which in turn propounded them Fant said Milldisqualified receiver because debt owed the bank which he did not liquidate. Since provision was made for second election of receiver, the examiner said, the next highest applicant was chosen Circuit Judge B. Greene, Anderson, signed an order making Brazille receiver The receiver's father paid in full his liability at stockholdhe added The Citizens Bank of Seneca. McDonald made unlawful loans which were called to the tention of the state bank examinoffice but "no effort was made stop questioned by Fant, McDonald admitted that this was before Fant became chief bank examiner the 1926 Before then he was an assistant bank examiner. McDonald charged that Ballenger, president Seneca bank, third closed institution in signed statement said he six months the bank closed in January 1930, that would closed. He accepted posits, McDonald said, in violation the law until the day before the closed. grand jury. the house member did not return an indictment 'because Ballenger's nephew was on and there four criminalconnected the bank The bank should prosecuted the bank official, McDonald Although his question's were entered in the Fant's complete answer will not entered until all charges against him have been made. ed measure to bring this Stimson pointed out that the Washington conference of- 1922 which signed the nine-power treaty guaranteeing the territorial integrity China was fact an arms reduction conference and that the United agreed give up some its battleships abandon Guam and in the Philippines because believed the understanding reached about China would lessen danger of conflict the far east. The secretary state went to say the United States stands firmly by the John Hay open door policy promulgated 1899 and by the nine-power treaty adopted Washington 1922, when Charles Evans Hughes was secretary state, which put the door policy into more definite form. ment of property taxes until June without further penalty. Backers of the resolution successfully kept the from being sidetracked to the finance committee. its opponents sought, and had placed on the for sible consideration The vote against committee reference was 25 to 11. The resolution, which will have force of law, was introduced after Comptroller General Beattie announced he would not extend tax payments requested concurrent resolution passed by both houses. In debate on the resolution today, Senator Greneker, Edgefield. said the bill went the committee would "meet untimean death."