First National Bank - Kingston, TN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12319
Charter Number: 12319
Start Date: September 14, 1932
Location: Kingston, Tennessee (35.881, -84.509)

Metadata

Model: gpt-5-mini
Short Digest: 2b01c18d

Response Measures

None

Receivership Details

Depositor recovery rate: 72.5%
Date receivership started: 1931-12-24
Date receivership terminated: 1936-02-21
Share of assets assessed as good: 33.9%
Share of assets assessed as doubtful: 41.7%
Share of assets assessed as worthless: 24.4%

Description

Articles (Sept–Oct 1932) refer to the First National Bank of Kingston as 'defunct' and name Carpenter as receiver; no mention of a run or temporary suspension prior to closing. Receiver actions (lawsuit, liquidation reports) indicate permanent closure and receivership.

Events (4)

1. February 9, 1923 Chartered

Source: historical_nic

2. December 24, 1931 Receivership

Source: historical_nic

3. September 14, 1932 Receivership

Newspaper Excerpt: Carpenter, receiver for the First National Bank of Kingston, has filed a civil suit ... The note was held by the defunct bank.
Source: newspapers

4. October 12, 1932 Other

Newspaper Excerpt: Carpenter is also receiver for the National Bank of Franklin, Tenn., First National Bank of Sweetwater and First National Bank of Kingston. Reports showed that depositors of the four banks ... have been paid more than $4,500,000 on deposits.
Source: newspapers

Newspaper Articles (2)

1. September 14, 1932 The Knoxville News-Sentinel Knoxville, TN

Article from The Knoxville News-Sentinel, September 14, 1932

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Article Text

Bank Receiver Sues on Note Carpenter, receiver for the First National Bank of Kingston, has filed a civil suit in Federal Court here against O. B. Williford. Mary Hood Williford and Nick Williford, all of Roane County, for collection of note for $2725. plus per cent interest and attorney fees. The note was held by the defunct bank.

2. October 13, 1932 Bristol Herald Courier Bristol, TN

Article from Bristol Herald Courier, October 13, 1932

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Article Text

HOLSTON UNION BANK RECEIVER REPORTS KNOXVILLE, Oct. 12. Carpenter, receiver for the defunct Holston-Union National Bank, released his third quarterly report today showing that $4,086,370.94 has been paid to depositors. It revealed that approximately half the assets of the bank at the time it closed have been liquidated. but on the 100 per cent stock assessment of $750,000 total of $356,394 is still outstanding Because of an agreement for exchange assets with the Hamilton National Bank, which expires July 1, it was indicated that second payment to depositors would not be made until after then. A. first payment of 40 per cent was made about year ago. Carpenter is also receiver for the National Bank of Franklin, Tenn., First National Bank of Sweetwater and First National Bank of Kingston. Reports showed that depositors of the four banks, including the Holston Union, have been paid more than $4,500,000 on de$14.95 posits.