First National Bank - Wagener, SC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10485
Charter Number: 10485
Start Date: November 12, 1931
Location: Wagener, South Carolina (33.652, -81.361)

Metadata

Model: gpt-5-mini
Short Digest: ba18c87e

Response Measures

None

Receivership Details

Depositor recovery rate: 38.5%
Date receivership started: 1929-02-09
Date receivership terminated: 1932-05-18
OCC cause of failure: Economic conditions
Share of assets assessed as good: 14.3%
Share of assets assessed as doubtful: 72.6%
Share of assets assessed as worthless: 13.0%

Description

Articles indicate the First National Bank of Wagener was placed in receivership, its assets scheduled for sale (Dec. 4, 1931 sale notice referencing receiver) and final dividends paid out in April 1932. No article describes a depositor run; the bank was closed and wound up under a receiver, so classified as suspension leading to closure. Cause of suspension is not specified in the clippings, so labeled 'other.'

Events (5)

1. February 13, 1914 Chartered

Source: historical_nic

2. February 9, 1929 Receivership

Source: historical_nic

3. November 12, 1931 Suspension

Cause Details: Bank placed in receivership; court/receiver scheduled sale of bank building and fixtures (notice dated Nov. 12, 1931).
Newspaper Excerpt: RECEIVER'S SALE The of the First National Bank, Wagener, offer for sale public auction ... This 12th day November, 1931.
Source: newspapers

4. December 4, 1931 Other

Newspaper Excerpt: offer for sale public auction highest bidder for cash on the 4th day of December, 1931, at o'clock the banking house door Wagener ... The furniture and fixtures of the First National Bank of Wagener ... This sale will be made subject the of the Comptroller of approval Currency by the court, the right is reserved to reand all bids made at said ject any This 12th day November, 1931. CAMPBELL First National Bank, Wagener, South Carolina.
Source: newspapers

5. April 22, 1932 Receivership

Newspaper Excerpt: Will Distribute Checks for Final Dividend of First National Bank. Representative the receiver of the First National bank Wagener ... will deliver checks representing the final dividend ... Friday and Saturday, April 22 and 23 ... at the office of the Iodine State bank in Wagener.
Source: newspapers

Newspaper Articles (5)

1. October 23, 1929 Aiken Standard Aiken, SC

Article from Aiken Standard, October 23, 1929

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Article Text

LEGAL NOTICES MASTER'S SALE STATE OF CAROLINA, County of Alken In Court of Common Pleas Vann, Receiver of the First National Bank, of Wagener, Plaintiff, Brown Defendant Notice is hereby given that by virtue of an order Court of Common Please in the above entitled action, dated October 9th, 1929, will sale at public outery to the highest bidder in front of the House at Aiken, during the hours for public sales, sales day, Monday, November 4th, 1929. the following described real estate, to-wit: All that certain piece, parcel or tract of lying and being in the Town of Perry, Aiken County, Bonth Carolina including all improvements thereon and bounded as follows, to-wit: On the North by Town Alley and measuring thereon 160 feet: on the East by Millhouse Street and measurinst thereon 160 feet: on the South by Center Street and measuring thereon 160 feet; on the West by Town Alley and measuring thereon 100 feet. This property is more commonly known as the W. Gantt property; the same having been purchased by W. D. Brown from R. E. Waldo, February 1st. 1920. Terms of sale: Cash, purchaser to pay for deed and revenue stamps. Successful bidder will be required to deposit the sum of $200 as evidence of good faith or bid will not be accepted. EDWARD S. CROFT, Master for Aiken County, Johnson and possibly others; and West by lands of H. Whittle. Said tract of land having been purchased from G. E. Gantt by Pete Johnson. Terms of sale: Cash, purchaser to pay for deed and revenue stamps. Successful bidder will be required to deposit the sum of $50.00 as evidence of bid will not be accepted and premises immediately sold. CROFT, Master for Aiken County, C. Oct. 22, 1929.

2. December 1, 1931 The State Columbia, SC

Article from The State, December 1, 1931

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Article Text

RECEIVER'S SALE The of the First National Bank, Wagener, offer for sale public auction highest bidder for cash on the 4th day of December, 1931, at o'clock the banking house door Wagener, S. the following described property: The bank bulding of the First NaBank of Wagener, being twostory brick building located on Railroad avenue, on lot 25x541/2 feet and more fully described as all that ceΓtain parcel or lot of land situated, lying and being in the Town of County of Aiken, State of Wagener, South Carolina, bounded and follows: north by lands of ing Dona A. Lybrand and thereon 25 feet, south by Railroad avethereon 25 feet, east by lands of Mrs. Dona and thereon feet and west by lot of Mrs. M. Ott 54½ feet The furniture and fixtures of the First National Bank of Wagener, consisting of vault, door safe, counter fixtures, filing cabinets, desks, etc., which will be on file at the fice the in the First National Bank building in Wagener and may be inspected interested parties on Fridays and Saturdays each week prior date of sale. This sale will be made subject the of the Comptroller of approval Currency by the court, the right is reserved to reand all bids made at said ject any This 12th day November, 1931. CAMPBELL First National Bank, Wagener, South Carolina.

3. April 18, 1932 The State Columbia, SC

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Article Text

AGENT OF RECEIVER TO VISIT WAGENER Will Distribute Checks for Final Dividend of First National Bank. Representative the receiver of the First National bank Wagener Wagener will Wagener and Saturday, April and deliver checks representing the final dividend tors that and the final of will depositors that Depositors creditors having claims the First National Wagener dividend checks Friday Saturday will call the tive be the office the Iodine State Wagener

4. April 20, 1932 Aiken Standard Aiken, SC

Article from Aiken Standard, April 20, 1932

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Article Text

WAGENER BANK WINDS UP AFFAIRS DEPOSITORS RECEIVE CENT Final Dividend of Cent. Paid Out Friday and Saturday. Representatives of the receiver of the First National bank, of Wagener at Wagener will be in Wagener Friday and Saturday, April 22 and 23, representing the of cent. to depositors and creditors of that bank. The receiver heretofore paid dividend of 20 per cent. to depositors and with the final dividend of per cent. will represent total payment of per cent to depositors and creditors of that bank. Depositors and creditors having claims on the First National bank of Wagener will be given their final dividend checks Friday and Saturday if they will call the representative of the receiver, who will be at the office of the Iodine State bank in Wagener.

5. April 21, 1932 The Columbia Record Columbia, SC

Article from The Columbia Record, April 21, 1932

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Article Text

WAGENER NATIONAL BANK PAYS FINAL DIVIDEND Checks representing the final payment of 18½ per cent to depositors and creditors of the First National Bank of Wagener are to be delivered by representatives of the bank receiver there Friday and Saturday. Payment of the checks will bring the total dividend to unsecured depositors and creditors to 381/2 per cent, as 20 per cent dividend had previously been issued. The receiver's representative will be located at the Iodine State bank at Wagener.