Peoples Savings Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: November 1, 1930*
Location: Nashville, Tennessee (36.166, -86.784)

Metadata

Model: gpt-5-mini
Short Digest: f43a6ef4

Response Measures

None

Description

The articles state the People's Bank Trust Co. went (closed) in November 1930 and is described as insolvent with receivers appointed. No article describes a depositor run; subsequent pieces discuss receivers paying dividends and collecting judgments, indicating the bank remained closed and in receivership.

Events (4)

1. November 1, 1930* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as insolvent at closing in November 1930; closure appears due to insolvency rather than rumor or external run
Newspaper Excerpt: People's Bank Trust Co., Nashville, which went November 1930... receivers for the insolvent People's Bank Trust Company
Source: newspapers

2. May 13, 1932 Receivership

Newspaper Excerpt: Dividend Is Paid By People's Bank - Receiver for Defunct Institution Authorizes Payment... Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930, was Friday by Robertson, State Superintendent Banking... Receiver for the defunct institution authorizes payment of 25 percent dividend to depositors of the People's Bank Trust Co., Nashville, which went November 1930.
Source: newspapers

3. December 24, 1932 Receivership

Newspaper Excerpt: judgment for $37,391.47 was rendered in the second chancery court against the National Baptist Convention... for notes the insolvent People's Bank Trust Company, of this city, last week. receivers for the insolvent presented amount with $2,000 additional... judgment returned against convention and its sureties on the obligations. National Convention is the group Baptists. Sunday School Board of the National Baptist M. Townsend
Source: newspapers

4. January 12, 1933 Receivership

Newspaper Excerpt: The judgment of $41,000 which the receivers of the People's Trust and Savings Bank, a colored institution here, got against the Sunday School Publishing Board... was compromised last week, when the receivers allowed a decrease in the judgment to be entered in the court records of $17,000. Terms were allowed for payment of the judgment which was secured on the basis of notes of the publishing board which were in the bank at the time of its closing.
Source: newspapers

Newspaper Articles (3)

1. May 13, 1932 Nashville Banner Nashville, TN

Article from Nashville Banner, May 13, 1932

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Article Text

Dividend Is Paid By People's Bank Receiver for Defunct Institution Authorizes Payment Payment of 25 per cent dividend depositors of the People's Bank Trust Co., Nashville, which went November 1930. was Friday by Robertson. State Superintendent Banking There will be out approximately 6,000 checks White depositors of the the to approximately Robertson the dividends would have authorized but for the fact there delay of one an effort was being reorganize the had been one of leading Negro of this section. was also that had been enabled liquidate but the $25,000 bills payable of the Another dividend to be paid this is anticipated. according Superintendent Robertson

2. December 24, 1932 The Afro-American Baltimore, MD

Article from The Afro-American, December 24, 1932

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Article Text

COURT ORDERS BAPTISTS TO $37,391 NASHVILLE, judgment for $37,391.47 was rendered in the second chancery court against the National Baptist Convention of the United States of America, District of corporation, for notes the insolvent People's Bank Trust Company, of this city, last week. receivers for the insolvent presented amount with $2,000 additional The latter was deattorney's ducted allowances made rent of the bank building ownby and reoeiver bank, conducthis there. judgreturned against convention and its sureties on the obligations. National Convention is the The group Baptists. Sunday School Board of the National Baptist M. Townsend

3. January 12, 1933 The Northwest Enterprise Seattle, WA

Article from The Northwest Enterprise, January 12, 1933

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Article Text

Baptists Get $17,000 Cut From Judgment NASHVILLE, Tenn.-The judgment of $41,000 which the receivers of the People's Trust and Savings Bank, a colored institution here, got against the Sunday School Publishing Board of the National Baptist Convention, was compromised last week, when the receivers allowed a decrease in the judgment to be entered in the court records of $17,000. Terms were allowed for payment of the judgment which was secured on the basis of notes of the publishing board which were in the bank at the time of its closing.