First National Bank - Wartrace, TN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9627
Charter Number: 9627
Start Date: November 4, 1916
Location: Wartrace, Tennessee (35.527, -86.334)

Metadata

Model: gpt-5-mini
Short Digest: 8a33666a

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1915-12-22
Date receivership terminated: 1917-10-30
OCC cause of failure: Fraud
Share of assets assessed as good: 31.4%
Share of assets assessed as doubtful: 15.1%
Share of assets assessed as worthless: 53.6%

Description

Newspaper notices show Robert D. Garrett acting as receiver for the First National Bank of Wartrace under an order of the Chancery Court. No articles describe a depositor run; the bank is in receivership and property is being sold, implying suspension and permanent closure by court action.

Events (5)

1. January 6, 1910 Chartered

Source: historical_nic

2. December 22, 1915 Receivership

Source: historical_nic

3. November 4, 1916 Receivership

Newspaper Excerpt: ROBERT D. GARRETT, Receiver of First National Bank of Wartrace, Tennessee, and Commissioner of Chancery Court at Shelbyville, Tennessee.
Source: newspapers

4. November 4, 1916 Suspension

Cause: Government Action
Cause Details: Placed in receivership under order of the Chancery Court at Shelbyville (court-ordered suspension/closure)
Newspaper Excerpt: By virtue of the power vested in me as receiver of the First National Bank of Wartrace, Tennessee under an order of the Chancery Court at Shelbyville, Tennessee
Source: newspapers

5. November 27, 1916 Other

Newspaper Excerpt: will offer for sale and sell to the highest bidder, at public outcry, at the court house door in Camden, Benton County, Tennessee, on Monday the 27th Day of November, 1916, beginning at 1 o'clock p. m. the following described real estate: ... TERMS OF SALE. The property will be sold for cash, in bar of the equity of redemption, but subject to confirmation by the Chancery Court at Shelbyville, Tennessee.
Source: newspapers

Newspaper Articles (4)

1. November 10, 1916 The Camden Chronicle Camden, TN

Article from The Camden Chronicle, November 10, 1916

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Article Text

CHANCERY SALE OF HOUSE AND LOT IN CAMDEN, TENNESSEE. By virtue of the power vested in me as receiver of the First National Bank of Wartrace, Tennessee under an order of the Chancery Court at Shelbyville, Tennessee, and as commissioner of said court I, Robert D. Garrett, will offer for sale and sell to the highest bidder, at public outery, at the court house door in Camden, Benton County, Tennessee, on Monday the 27th Day of November, 1916, beginning at I o'clock p. m. the following described real estate: A certain lot or parcel of land situated in the town of Camden, fifth civil district of Benton County, Tennessee, and bounded as follows: Beginning at a stake, the northeast corner of lot No. 54 in the original plan of the town of Camden, Tennessee, said lot No. 54 being the lot formerly owned by William Bartlett, now owned by W. E. Wyatt, and runs north with east line of original forty acres upon which the town of Camden, Tennessee, was originally laid out, 81 poles to a stake; thence east to the old stage road; thence with said road in a southeast direction to M. G. Mc. Glohon's line near the junction of two large gullies to a stake; thence in a southwest direction with McGlohon's line to the northeast corner of Yarbrough lot, now Bowles lot; thence west with the north boundary line of the Yarbrough lot to the beginning. TERMS OF SALE. The property will be sold for cash, in bar of the equity of redemption, but subject to confirmation by the Chancery Court at Shelbyville, Tennessee. This the 4th day of November, 1916. ROBERT D. GARRETT, Receiver of First National Bank of Wartrace, Tennessee, and Commissioner of Chancery Court at Shelbyville, Tennessee.

2. November 17, 1916 The Camden Chronicle Camden, TN

Article from The Camden Chronicle, November 17, 1916

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Article Text

CHANCERY SALE OF HOUSE AND LOT IN CAMDEN, TENNESSEE. By virtue of the power vested in me as receiver of the First National Bank of Wartrace, Tennessee under an order of the Chancery Court at Shelbyville, Tennessee, and as commissioner of said court I, Robert D. Garrett, will offer for sale and sell to the highest bidder, at public outcry, at the court house door in Camden, Benton County, Tennessee, on Monday the 27th Day of November, 1916, beginning at I o'clock p. m. the following described real estate: A certain lot or parcel of land situated in the town of Camden, fifth civil district of Benton County, Tennessee, and bounded as follows: Beginning at a stake, the northeast corner of lot No. 54 in the original plan of the town of Camden, Tennessee, said lot No. 54 being the lot formerly owned by William Bartlett, now owned by W. E. Wyatt, and runs north with east line of original forty acres upon which the town of Camden, Tennessee, was originally laid out, 81 peles to a stake; thence east to the old stage road; thence with said road in a southeast direction to M. G. McGlohon's line near the junction of two large gullies to a stake; thence in a southwest direction with McGlohon's line to the northeast corner of Yarbrough lot, now Bowles lot; thence west with the north boundary line of the Yarbrough lot to the beginning. TERMS OF SALE. The property will be sold for cash, in bar of the equity of redemption, but subject to confirmation by the Chancery Court at Shelbyville, Tennessee. This the 4th day of November, 1916. ROBERT D. GARRETT, Receiver of First National Bank of Wartrace, Tennessee, and Commissioner of Chancery Court at Shelbyville, Tennessee.

3. November 17, 1916 The Camden Chronicle Camden, TN

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Article Text

ROBERT D. GARRETT, Receiver of First National Bank of Wartrace, Tennessee, and Commissioner of Chancery Court at Shelbyville, Tennessee.

4. November 24, 1916 The Camden Chronicle Camden, TN

Article from The Camden Chronicle, November 24, 1916

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Article Text

CHANCERY SALE OF HOUSE AND LOT IN CAMDEN, TENNESSEE. By virtue of the power vested in me as receiver of the First National Bank of Wartrace, Tennessee under an order of the Chancery Court at Shelbyville, Tennessee, and as commissioner of said court I, Robert D. Garrett, will offer for sale and sell to the highest bidder, at public outory, at the court house door in Camden, Benton County, Tennessee, on Monday the 27th Day of Novem. ber, 1916, beginning at I o'clock p.m. the following described real estate: A certain-lot or parcel of land situated in the town of Camden, fifth civil district of Benton County, Tennessee, and bounded as follows: Beginning at a stake, the northeast corner of lot No. 54 in the original plan of the town of Camden, Tennessee, said lot No. 54 being the lot formerly owned by William Bartlett, now owned by W. E. Wyatt, and runs north with east line of original forty acres upon which the town of Camden, Tennessee, was originally laid out, 81 poles to a stake; thence east to the old stage road; thence with said road in a southeast direction to M. G. Mc. Glohon's line near the junction of two large gullies to a stake; thence in a southwest direction with McGlohon's line to the northeast corner of Yarbrough lot, now Bowles lot; thence west with the north boundary line of the Yarbrough lot to the beginning. TERMS OF SALE. The property will be sold for cash, in bar of the equity of redemption, but subject to confirmation by the Chancery Court at Shelbyville, Tennessee. This the 4th day of November, 1916. ROBERT D. GARRETT, Receiver of First. National Bank of Wartrace, Tennessee, and Commissioner of Chancery Court at Shelbyville, Tennessee.