Central National Bank - Spartanburg, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4996
Charter Number: 4996
Start Date: June 30, 1934
Location: Spartanburg, South Carolina (34.950, -81.932)

Metadata

Model: gpt-5-mini
Short Digest: c88064f4

Response Measures

None

Receivership Details

Depositor recovery rate: 95.0%
Date receivership started: 1933-08-08
Share of assets assessed as good: 41.0%
Share of assets assessed as doubtful: 46.3%
Share of assets assessed as worthless: 12.7%

Description

Articles indicate the Central National Bank of Spartanburg was in the hands of a receiver (W. P. Conyers) by mid-1934 and foreclosure actions by the receiver are published in early 1936. There is no mention of depositor runs in the provided articles — rather the bank was placed in receivership and its assets were being liquidated. Classified as a suspension leading to closure/receivership (suspension_closure).

Events (5)

1. May 4, 1895 Chartered

Source: historical_nic

2. August 8, 1933 Receivership

Source: historical_nic

3. June 30, 1934 Suspension

Cause: Government Action
Cause Details: Bank was in the hands of a receiver as of the June 30, 1934 audit; county offset bonds with the Central National Bank receiver, indicating suspension/receivership prior to or by that date.
Newspaper Excerpt: the offset of approximately $200,000 in county bonds with the Central National bank receiver.
Source: newspapers

4. February 7, 1936 Other

Newspaper Excerpt: W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina - Plaintiff. NOTICE OF FORECLOSURE SALE ... by virtue of and pursuant to the authority conferred upon said Commissioners by said decree ... offer for sale ... lands ... described in that mortgage ... (foreclosure notices published).
Source: newspapers

5. March 2, 1936 Receivership

Newspaper Excerpt: W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Whereas, by consent decree rendered ... J. E. Shipman was duly appointed Commissioner to sell the lands herein advertised to be sold by him ... will on Monday, March 2nd, 1936 ... offer for sale ... (foreclosure).
Source: newspapers

Newspaper Articles (5)

1. December 16, 1934 The Greenville News Greenville, SC

Article from The Greenville News, December 16, 1934

Click image to open full size in new tab

Article Text

Spartanburg County Audit Shows Affairs In Excellent Condition Dec. annual Spartanburg county audit, which was presented to the county delegation at called meeting late this week, shows that the financial affairs of the county are in excelshape. The audit covers the June 30, 1933. to June 30, In addition the audit shows that the funds of the county tied up in closed banks have been materially reduced The county entered the with $917,766.65 in closed year banks. On June 30. 1934 this amount had been reduced to $520.973.62. The reduction came about through the collection of dividends and the offset of approximately $200.000 in county bonds with the Central National bank receiver. $206,828 AVAILABLE The audit shows that on June 30. 1934. there were total available funds on hand amounting to $206. 828.26 to the credit of the various departments of which is designated as school sinking funds. Relative to the financial situation at the end of the year. the audit "The collections of current and of delinquent taxes will total about 98 per cent of the original charge by the county auditor for the year ended June 30, 1934. The tax collections, other income, bank dividends and the county board's limiting of expenditures to appropriations, which were reduced by the last legislature, have enabled the county the county highway department and General hospital to show cash balances in excess of obligations on June 30. 1934. provided the anticipated revenue of the General hospital accrued. Total receipts for the county during the year were $1,090,399.05 The General hospital county highway department and general county account were each closed June 30. 1934, with favorable cash balances HOSPITAL BALANCE The General hospital had balance of $17,181.12 on July 1933, received credits of $159,300. had expenditures of $170,709.05 during the year and closed the period with balance of $5,772.07 on June 30, The county highway department began the year with $12,379.52 on July 1933, received credits spent $151,277.93 and closed the year with balance of $22 424 on June 30, 1934 The county had balance of $31. 68 on June 30, 1933. received credits of $889,856.59 together with special credits of $2,067.66 total of $923,552.93. spent 455 16 and closed the year. June 20. 1934. with balance of $25,097.77 Later $11,998.95 this was transferred leaving the county balance of $13.on entering the new fiscal year.

2. February 7, 1936 The Times-News Hendersonville, NC

Article from The Times-News, February 7, 1936

Click image to open full size in new tab

Article Text

ed for tonight, has been postned because of the bad weathThe High School Boys will meet extile Institute tomorrow night the gym. The Institute team S e of the strongest ever to apar here. NOTICE OF FORECLOSURE SALE TATE OF NORTH CAROLINA ENDERSON COUNTY . P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs ke Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery, deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree ndered by the Clerk of the Suerior Court of Henderson Counon the 30th day of January, 36, J. E. Shipman was duly apinted Commissioner to sell the nds herein advertised to be sold , him, and J. O. Bell was apinted Commissioner to sell the nds herein advertised to be sold , him; and whereas, by virtue and pursuant to the authority inferred upon said Commissionis by said decree, the said J. E. ipman, Commissioner, will on onday, March 2nd, 1936, at even o'clock, A. M., at the court use door of Henderson County, Hendersonville, North Caroa, offer for sale at public outy to the highest bidder for cash, I the following described lands, tuate in the Township of Green ver, County of Henderson, ate of North Carolina, and own and designated as follows: 1. All those lots numbered 135 to 4, inclusive of Section 1 of ke Summit Company, as shown plat of same recorded in the fice of the Register of Deeds r said County in Plat Book 1, at ge 21; said lots being bounded the North by Lakeside Drive, d by a park reserved as shown said plat; on the East and uth by Alta Vista Drive, and the West by a park shown on id map, and being lands describin that mortgage of record in ok 124, at page 301, of the cords of Mortgages for said unty. 2 All those lots numbered 71 to 4, inclusive, and 145 to 187, insive, in Section 1, and also lots mbered 106 to 152, inclusive, d 58 to 105, inclusive, and 155 162, inclusive, in Section J, as own on map of property of ke Summit Company at Tux0, North Carolina, and which d map, is of record in Plat ok 1, at page 21, of the Recis of Plats for Henderson Counto which plat reference is reby made for full and comte description, and being the perty described in that mortge of record in Book 124, at ge 302, of the Records of Mortges for said County. 'ε That tract of land containing ) acres, more or less, lying on South side of Lake Summit 1 bounded on the North by d Lake, and the right of way the Southern Railway Comy; on the East by the lands Green River Corporation, et on the South by the lands of

3. February 7, 1936 The Times-News Hendersonville, NC

Click image to open full size in new tab

Article Text

# NOTICE OF FORECLOSURE SALE STATE OF NORTH CAROLINA HENDERSON COUNTY W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina - Plaintiff. Vs.

4. February 21, 1936 The Times-News Hendersonville, NC

Article from The Times-News, February 21, 1936

Click image to open full size in new tab

Article Text

NOTICE OF FORECLOSURE SALE STATE OF NORTH CAROLINA HENDERSON COUNTY W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs Lake Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery, deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree rendered by the Clerk of the Superior Court of Henderson County on the 30th day of January, 1936, J. E. Shipman was duly appointed Commissioner to sell the lands herein advertised to be sold by him, and J. O. Bell was appointed Commissioner to sell the lands herein advertised to be sold by him; and whereas, by virtue of and pursuant to the authority conferred upon said Commissioners by said decree, the said J. E. Shipman, Commissioner, will on Monday, March 2nd, 1936, at eleven o'clock, A. M., at the court house door of Henderson County, in Hendersonville, North Carolina, offer for sale at public outcry to the highest bidder for cash, all the following described lands, situate in the Township of Green River, County of Henderson, State of North Carolina, and known and designated as follows: 1. All those lots numbered 135 to 144, inclusive of Section 1 of Lake Summit Company, as shown on plat of same recorded in the Office of the Register of Deeds for said County in Plat Book 1, at page 21; said lots being bounded on the North by Lakeside Drive, and by a park reserved as shown on said plat; on the East and South by Alta Vista Drive, and on the West by a park shown on said map, and being lands described in that mortgage of record in Book 124, at page 301, of the Records of Mortgages for said County. 2. All those lots numbered 71 to 134, inclusive, and 145 to 187, inclusive, in Section 1, and also lots numbered 106 to 152, inclusive, and 58 to 105, inclusive, and 155 to 162, inclusive, in Section J, as shown on map of property of Lake Summit Company at Tuxedo, North Carolina, and which said map, is of record in Plat Book 1, at page 21, of the Records of Plats for Henderson County, to which plat reference is hereby made for full and complete description, and being the property described in that mortgage of record in Book 124, at page 302, of the Records of Mortgages for said County. 3. That tract of land containing 160 acres, more or less, lying on the South side of Lake Summit and bounded on the North by said Lake, and the right of way of the Southern Railway Comon the East by the lands

5. March 6, 1936 The Times-News Hendersonville, NC

Article from The Times-News, March 6, 1936

Click image to open full size in new tab

Article Text

NOTICE OF FORECLOSURE SALE STATE OF NORTH CAROLINA HENDERSON COUNTY W. P. Conyers, receiver of the Central National Bank of Spartanburg, South Carolina Plaintiff. Vs Lake Summit Company: Horace L. Bomar; M. E. Bowden, cashier; Horace L. Bomar, attorney; Margaret M. Law, John A. Law, L. R. Bull, receiver of the Peoples Building & Loan Association of Spartanburg, South Carolina; John A. Law, Jr., receiver of the Merchants and Farmers Bank of Spartanburg, South Carolina; W. S. Montgomery, E. M. Matthews, and M. L. Smith, trustees of the estate of W. S. Montgomery. deceased, E. M. Blythe, P. A. Bonham, and Mrs. Nannie Earle Bomar-Defendants. Whereas, by consent decree rendered by the Clerk of the Superior Court of Henderson County on the 30th day of January, 1936, J. E. Shipman was duly appointed Commissioner to sell the lands herein advertised to be sold by him, and J. O. Bell was appointed Commissioner to sell the lands herein advertised to be sold by him; and whereas, by virtue of and pursuant to the authority conferred upon said Commissioners by said decree, the said J. E. Shipman, Commissioner, will on Monday, March 2nd, 1936, at eleven o'clock, A. M., at the court house door of Henderson County, in Hendersonville, North Carolina, offer for sale at public outcry to the highest bidder for cash, all the following described lands, situate in the Township of Green River, County of Henderson, State of North Carolina, and known and designated as follows: 1. All those lots numbered 135 to 144, inclusive of Section 1 of Lake Summit Company, as shown on plat of same recorded in the Office of the Register of Deeds for said County in Plat Book 1, at page 21; said lots being bounded on the North by Lakeside Drive, and by a park reserved as shown on said plat; on the East and South by Alta Vista Drive, and on the West by a park shown on said map, and being lands described in that mortgage of record in Book 124, at page 301, of the Records of Mortgages for said County. 2. All those lots numbered 71 to 134, inclusive, and 145 to 187, inclusive, in Section 1, and also lots numbered 106 to 152, inclusive, and 58 to 105, inclusive, and 155 to 162, inclusive, in Section J, as shown on map of property of Lake Summit Company at Tuxedo, North Carolina, and which said map, is of record in Plat Book 1, at page 21, of the Records of Plats for Henderson County, to which plat reference is hereby made for full and complete description, and being the property described in that mortgage of record in Book 124, at page 302, of the Records of Mortgages for said County. 3. That tract of land containing 160 acres, more or less, lying on the South side of Lake Summit