212. Fourth National Bank (Montgomery, AL)

View Charter #5877 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
5877
Charter Number
5877
Start Date
February 10, 1930
Location
Montgomery, Alabama (32.367, -86.300)

Metadata

Model
gpt-5-mini
Short Digest
ac13e38d

Response Measures

Capital injected, Full suspension, Books examined

Other: Bank was absorbed/merged into First National; state deposited funds in other Montgomery banks to bolster confidence ($400,000). The Fourth National building and equipment were bought by Alabama Bank.

Receivership Details

Depositor recovery rate
8.5%
Date receivership started
1930-09-06
Date receivership terminated
1934-10-08
OCC cause of failure
Losses
Share of assets assessed as good
42.3%
Share of assets assessed as doubtful
34.5%
Share of assets assessed as worthless
23.2%

Description

Multiple contemporaneous articles report a mild run on the Fourth National (near close of business Monday) and that the bank did not open the next day because its affairs were taken over by the First National following a conference with Federal Reserve officers. The Fourth National was absorbed (merged) into the First National and its deposits/liabilities assumed — effectively a permanent closure via takeover. Dates inferred from publication dates: run on 1930-02-10 (Monday), takeover/suspension recorded 1930-02-11. Cause for the run appears linked to adverse bank-specific conditions (investigation of the Fourth's affairs by the Montgomery Clearing House), not a mere prank; random_run set False.

Events (5)
1. June 24, 1901 Chartered
Source
historical_nic
2. February 10, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Deposit withdrawals described as a mild run near close of business after an investigation of the Fourth National's affairs had been under way; nervousness about the bank's condition
Measures
Affairs taken over by First National; state directed $400,000 in deposits distributed among city banks to bolster confidence
Newspaper Excerpt
a mild run yesterday on the Fourth National
Source
newspapers
3. February 11, 1930 Receivership
Newspaper Excerpt
absorption of the Fourth National Bank of Montgomery by the First National Bank ... affairs of the Fourth National ... would be taken over immediately by the First National and all checks drawn on the former would be paid upon presentation at the First National Bank. The Fourth National did not open for business Tuesday ... a notice that its affairs were in charge of the First National served to assuage fears of a few excited depositors who staged a mild run on the bank nearing the close of Monday's business.
Source
newspapers
4. February 11, 1930 Suspension
Cause Details
Bank did not open because its affairs were taken over by the First National as part of a merger/assumption of liabilities following the run and an investigation
Newspaper Excerpt
The Fourth National did not open for business today although notice that its affairs were in charge of the First National served to assuage the fears of ... depositors
Source
newspapers
5. September 6, 1930 Receivership
Source
historical_nic

Newspaper Articles (9)
1. February 11, 1930 The Selma Times-Journal Selma, AL
Article from The Selma Times-Journal, February 11, 1930

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Article Text

CAPITAL BANKS MERGE FORM LARGE CONCERN Fourth National Absorbed By First At Montgomery $20,000,000 BUSINESS IS RESULT OF UNION Groves Show Confidence By $40,000 State Deposit MONTGOMERY, Ala., Feb. 11-(P)-A $20,000,000 banking institution, one the largest in the South, was operation today following sorption of the Fourth National Bank of Montgomery by the First National Bank, deal consummated at conference of officials the two institus. tions the Federal Reserve Bank of Atlanta which lasted until near the break of dawn today. the merger was made by M. Baldwin, chairman the Board Directors the First National His said that affairs of the Fourth National, $6,000,000 institution would taken immediately by the First National and that all checks drawn on the be paid upon presentation at the First Na- Mild Run Checked The Fourth National did not open for business today although noDce that its affairs were in charge of the First National served assuage the fears of comparative few excited who staged mild run on the bank nearing the yesterday's business. Officials of the First National were directing transfer files other data from the Fourth's building to the First's. Cooperation was given in the merger of the banks by the AlaDama and Company and the Union Bank and Trust Company, the city's other financial institutions. The Bank purchased the office equipment the Fourth National, an edifice one the show places the city's business district. No Outside Assistance said the deal for taking over affairs of the Fourth National outside assistance. The conference of bankers representatives the Federal Reserve followed an automobile ride from Atlanta by Eugene Black, governor the Federal ReBank of Atlanta, who arrived at midnight He was accompanied by Creed Taylor, deputy governor and other officials or the government joint issued at conclusion the conference revealed that investigation or the Fourth National's affairs been under way Friday under direction of the Montgomery Clearing House Statement of Hobbic Henry M. Hobbie, of the Fourth National today said the merger was determined upon to protect the interests "After due deliberation. our board of Hobbie's statement said trade was consummated with the Bank Montgomery which they sumed liabilities and our deposits are to be paid in full: Our whole idea was protect the business interests and those have confidence in The First National Bank was ganized here more than half-century Bowman president. capitalized $1,000.and its last published statement tisted $775,000 surplus. The Fourth National was capitalized $1.00,000 with surplus undivided profits of $283,000. $400,000 State Deposit Feb. Graves today assertthe state's confidence in Montbanks by depositing with the state funds. The paid visit to the First which early absorbed the Fourth NationAlabama National and the Union Bank and Trust Company and tions for participating the deal Montgomery the banking the south. am proud know that have financial gibraltar in Capital," assured the bank state's appreciation for the "magnificent foresight and fearlessness" bringing about the

2. February 11, 1930 The Dothan Eagle Dothan, AL
Article from The Dothan Eagle, February 11, 1930

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Article Text

GREAT BRITAIN NATIONAL IS 3 MAKE 8-STORY 4TH AND AGAINST WITH 1ST LIFE MERGED LEAP TO CRAFT UNDERSEA MONTGOMERY IN IN NET CHICAGO Two Floors of Gunther Building, Near "Loop" Swept By Blaze Last Night THOUSANDS THRILLED BY SENSATIONAL ESCAPES Young Woman Suffers Broken Leg and Skull Fracture From Fall; May Die Feb. for life from eighth story windows into neta, and precarious descents on sealing ladders were thriller that sands saw last night when fire swept two floory of the Gunther Building just south of the "Loop." Miss Margaret Paine, one the three who sought escap from the flames by leaping into net jured seriously she may She struck the feet first and her body rebounded several feet into the A flying cut deep in the cheek one of the men hlding the net. the rebound struck other holder, Ralph De Butch, cab driver, and his shoulder was broken The young woman's leg was broken and her skull fractured. Miss Paine was the second of three persons to leap the eighth floor. the first jumper was Joseph Sandman. He struck squarely in the center of one of the five spread be. low and suffered only slight wrench to his left Cecil McDonough, 32, who weighs 195 pounds, jumped last and came from the net, as he put it, "without bruise or scratch. The blowing of a fuse on an electric machine in the factory of the compainy on the seventh floor started the fire. spark igniting a bin of cotton and silk shreds. Three hundred girls employed the Thorne company escap. ed by of elevators which were running even until flames were leaping across the shafts. Several kirls, unable to reach the elevat in tim ran to the window Three of them were hanging to win dew ledges of the seventh floor when firemen arrived. Extension ladders rached only to the fifth floor. Fire men used scaling ladders, consisting only of single hook nosed upright with cross bars, and carried these girls to safety. Battalion Chief Michael Kerwin said that in his 39 year, experience he never before had seen ful leap life from floor any higher than the fourth Effected Today Consolidation After Light Run and AllNight Conference MONTGOMERY in the South of the today operation Bank the Fourth sorption of Montgome by Bank, deal consummated of officials of the ference federal bank tions and the which lasted near Atlanta break of dawn today of the made by Na the heard aff $6,000.000 institution would diately by the First The Fourth National although for today that affairs were First to fear of bank the Officials files tional and data from the bu other ing to the operation WAS given in of the bank by the Alabama Ban Trust Company and the Union Ban' and Trust Company, the city's other financial institutions. The Alabam Bank purchased the buil ng of fic equipment the Fourth National an edifice which is one of the show place of district Baldwin's statement the deal for taking over affairs of the Fourt National was consummated outside financial assistance The conference local representative of the der followed automobile ride om A lanta by Engene R Black the federal reserve A'lanta who arrived at midnight. He was companied by Cired Tay governor and other officials government bank A joint statement lon of the to investigation of the with uffair has been under way since Fri day under direction of clearing statement issued by M Hobbie of th Fourth Na tional the merger termined to protect the up of depositors. by out born of director H bbie's statement trade was with the First National Bank of M which assumed liabilities an by they full our deposits are whole idea the busi protect interests The Frist National Bank ganized ago W Bowman at $1,000,000 and last published listed $775,000 Fourth National at $500,000 surplu $100.000 and undivided profits $283,000 Graves Deposits With First National Gov ibb Graves today asserted the confidence Nontgomery by depositing with the $400,000 of state approximately funds The Chief Executive paid visit to the First National which early today absorbed the Fourth National the Alabama National and the Union Bank and Trust Company and extend to them congratulations for partic ipating in the deal which gave Mont one of the largest baking the south am proud to know that have financial gibraltar in our capita," the declared. and assure bank presidents of the preciation for the "magnificent fore. and fearlessness in bringin sight about the consolidation France and Japan Will Not Aban don Submersibles, But Will "Humanize" Activities MARKED WITH AIR SESSION OF INTENSITY OVER DEBATE Alexander, of Great Britain, Declares Subs Should Be Wiped From Navies of World By DEWITT 11 virtually marines of lease of war during historic debate the conference today in the course of which the five great nava ers of the world present views to the abolition of "terrors of the deep." Out of the wealth of elocent pleas for against the retention formal and that be made to restrict number There was an air of tensity which other plenary session HAS the of the each other in the Anne St James' Palace make their regarding the larations sunk all aboard. the United States and tritain for the abolition of France and Japan for their ntion holding to their her would not surreder this arm of Italy agreed Britain but America and with with reservations which would guard her interests as compared with those of other After opened the session, had formally Alexander, first Lord of the Ad miralty, rose amidst great silence measured tones sclared belief that Britain's should be wiped from the the world The French and Japan listened with delegations declared with intentness he that submersibles tion but inhuman offensive Great Britain, he said, lition, but if this could not be stood for ed then she of submarine warfare and the tation of size and numbers. The chief American delegate, retury of State Stimson, who follow of address one ed began his which have statements crisp to naval familiar "The American delegation or of the abolition of the submarine Briefly he amplified this declara handed in tion and later the committee calling for three questions Abolition of the submarine 2. Regulation of use in way time Regulation of unit and undersea like Mr In other words he, the road for ander, opened mise with France who, it would agree to humanizing marine but would flatly to cept abolition Georges Then came French minister of marine, shifting in the was to get other France's spokesman. In rapid tones that France declined to She considered defensive weapons. sary that country doubt at this stand but he tendered branch proposing study the proposition izing not only of all clas the activities ships of Dino Grand The speech foreign minister, of the Italian reiteration of the beginning which bee nfor naval ference has France Admiral in rine, contention reiterated Japan's need of ended today's plenary So feeling general had siscussed that it had come on Page (Continued

3. February 12, 1930 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, February 12, 1930

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Montgomery, Ala., Banks Merge After Mild Run MONTGOMERY. Ala., Feb. 11.(A.P.) Absorbing the Fourth National bank to avert "a serious situation" in the business life of the city, the First National bank, now $20,000,000 concern, transacted the business of both institutions today after a mild run yesterday on the Fourth National. Gvernor Graves indicated the state's confidence in the Montgomery banking situation by directing that $400,000 of state funds be as deposists among the city's three banks. the First National, Alabama National and Union Bank & Trust company. The Fourth National bank was capitalized at $500,000.

4. February 12, 1930 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, February 12, 1930

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MONTGOMERY BANKS MERGE IN CRISIS MONTGOMERY. Ala., Feb. absorbed the Fourth National bank avert serious situation" the business life of the city, First National bank, now $20,000,000 today transacted the business of both institutions without an indication of the nervousness shown by few of the Fourth's who staged mild run on the bank near the close of business yesterday. Governor Bibb Graves indicated the confidence in the banking situation by directing Montgomery that $400,000 state funds distributed three banks, First city's National and Union Bank and Trust M. Baldwin, chairman of First National's board directors. announcing today that the First National had absorbed the that the affairs of the latter institution been under of Clearing House Friday. Failing in an effort to deterupon for the Fourth National open without difficulty or further embarrassment. Baldwin absorption had agreed the ernor Eugene the AtFederal Reserve Fourth National bank headed by Henry M. Hobbie as presiwas capitalized at $500.000, and its listed surplus of $100,000 and undivided profits $283,000. Bowman president the First at .000,000 listed $775,000 surplus.

5. February 12, 1930 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, February 12, 1930

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MONTGOMERY BANK SAVED BY MERGER Fourth National Taken Over by First Institution. Gov. Bibb Deposits State Fund to Promote Confidence in Financial Concerns. Having absorbed the Fourth National he the the the First National Huntsville today business There institutions an indication shown by few the staged run on the bank near the close Indicated the state's confidence banking situation The state distributed deposits among banks the First and Union Bank and Trust company Waldo Baldwin, of First Wednesday board directors nouncing today the First the had Fourth dis- butions had closed latter House since effort keeping Fourth open his order absorption had been agreed the Gov the Atlanta FedFourth National bank was headed Henry Hobbie and its last undivided $283 Bowman president the and listed surplus.

6. February 13, 1930 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, February 13, 1930

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TWO MONTGOMERY BANKS MERGE FOLLOWING RUN MONTGOMERY Ala., Feb. 12.the Fourth National bank to avert serious situation' the business life of the city, the First National bank, transacted the business of both today without an indication of the nervousness shown by few of the Fourth's who made mild run the bank near the close of business yesterday. Gov. Bibb Graves indicated the state's confidence in the Montgomery bank situation by directing that $400,000 of state funds be distributed as deposits among city's three banks, the First National, Alabama National and Union Bank and Trust company. ORDER OF TO EARL RENWICK HELEN WIFE, FREDERTO WHOM CONCERN by affidavit filed in the above cause that the Renwick the York, New York: and that the place of residence of defendant, Helen the Earl B. Renwick Mills. State of the the Frederick Kingsbury, is New Haven, that his address Old Turnpike, New and that affiant has been able to more particular of such has do, and that for lawful defendbe served and It appearing said age that there no one in the State Florida. of upon whom would bind IT the IS, THEREFORE, ORDERED that the Earl Frederick Kingsbury, Jr. be they required to answer the Bill of filed In this cause on or before the 18th day March. will be as by said defendThis Bill of foreclosure covering the situate County of State (40) Eighty (80) lying west first Fortyone (41) Six inches said Eighty Order for four the St. Times. published County and State. this 10th day February, 1930 (SEAL) Clerk of the By B. HELMS Clerk. ARTHUR R. THOMPSON TO CREDITORS IN COURT THE COUNTY JUDGE COUNTY, FLORIDA RE Deceased. TO PERCLAIMS OR MANDS AGAINST SAID ESTATE: you, are hereby any either have against the estate may Mollie Pinellas to the Judge of his office Court House at Florida, within twelve the the first publication of this notice. Said or must be duly sworn you should file with the undersigned copy claims or deThis the 2nd day of January, A. D. AMERICAN BANK & TRUST COMPANY, Administrator with the will annexed. Address St. Petersburg. Florida. NOTICE TO CREDITORS TO OF ITS AND BUSINESS IN CITY OF ST. PETERSBURG FLORIDA: and each of you, are hereby notified that a duly State and ex the Florida and its the and place in Pinellas 4th day of its to and the Bureau scription Tampa Credit Men. existing under the the State and having its cipal place business for the the Tampa, benefit all creditors of said Larus Battle to provisions Sections the creditors the sale in Florida are hereby called file sworn of against Larus(60) after 6th day of being publication creditors the limits of the State of Florid hereby called upon to file Larus after four said 6th day of Febru ary, ADJUSTMENT TAM ASSOCIATION MEN. OWEN, Secretary Roberts Tampa, Florid

7. February 13, 1930 The Union-Banner Clanton, AL
Article from The Union-Banner, February 13, 1930

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TWO-MONTGOMERY BANKS MERGE IN $20,000,000 UNIT Consolidation Comes after Session with Federal Reserve Officers Montgomery, Ala., Feb. 11.-A $20,000,000 banking institution, one of the largest in the South, was in operation here Tuesday following absorption of the Fourth National Bank of Montgomery by the First National Bank, a deal consummated at a conference of officials of the two institutions and the Federal Reserve Bank of Atlanta, which lasted until near the break of dawn Tuesday. A. M. Baldwin, chairman of the Board of Directors of the First National, said affairs of the Fourth National a $6,000,000 institution would be taken over immediately by the First National, and all checks drawn on the former would be paid upon presentatin at the First National. The Fourth National did not open for business Tuesday, although a notice that its affairs were in charge of the First Natinal served to assuage fears of a few excited depositors who staged a mild run on the bank nearing the close of Monday's business. Triumpt of the Dish-Mop.-(Housework is recommended as an infallible means of keeping slim.)

8. February 13, 1930 Union Springs Herald Union Springs, AL
Article from Union Springs Herald, February 13, 1930

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TWO MONTGOMERY BANKS ARE MERGED Montgomery, Ala., Feb. 11.A $20,000,000 banking institution one of the largest in the south, was in operation here Tuesday following absorption of the Fourth National Bank of Montgomery by the First National Bank, a deal consummated at a conference of the officials of the two institutions and the Federal Reserve Bank of Atlanta, which lasted until near the break of dawn Tuesday. A. M. Baldwin, chairman of the board of directors of the First National, said affairs of the Fourth National, a $6,000,000 institution, would be taken over immediately by the First National and all checks drawn on the former would be paid upon presentation at the First National Bank. The Fourth National did not open for business Tuesday, although a notice that its affairs were in charge of the First National served to assuage fears of a few excited depositors who staged a mild run on the bank nearing the close of Monday's business. Cooperation was given in the merger by the Alabama Bank and Trust Company and the Union Bank and Trust Company, the city's other financial institutions. The Alabama Bank purchased the building and office equipment of the Fouth National, one of the show places of the business district. A joint statement issued at the conclusion of the conference revealed that an investigation of the Fourth National's affairs has been under way since Friday under the direction of the Montgomery Clearing House Association. A statement issued by Henry M. Hobbie, president of the Fourth National, Tuesday said the merger was determined upon to protect interests of depositors. After due deliberation by our board of directors,' Hobbie's statement said, "a trade was consummated with the First National Bank of Montgomery by which they assumed liabilities and our deposits are to be paid in full. Our whole idea was to protect the business interests and those who have confidence in us." The First National Bank was organized here more than a half century ago. It is capitalized at $1,000,000 and its last published statement listed $775,000 surplus. The Fourth National was capitalized at $500,000 with a surplus of $100,000 and undivided profits of $283,000.

9. February 14, 1930 The Clayton Record Clayton, AL
Article from The Clayton Record, February 14, 1930

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MONTGOMERY MERGE Consolidation Comes After Session Federal Reserve Officers MONTGOMERY, Ala., Feb. 14. A $20,000,000 banking institution one of the largest in the South, was in operation here Tuesday following absorption of the Fourth National Bank of Montgomery by the First National Bank, deal consummated conference of officials of the two institutions and the Bank of Atlanta, until near the break of dawn Tuesday. A. Baldwin, chairman of the board of directors of the First National, said affairs of the Fourth National, institution, would be taken over immediately by the First National and all checks drawn on the former would be paid upon presentation at the First National. The Fourth National did not open for business Tuesday, although a notice that its affairs were in charge of the First National served to assuage fears of few excited depositors who staged mild run on the bank nearing the close of Monday's business. Co-operation was given in the merger by the Alabama Bank & Trust Company and the Union Bank & (Trust Company, the city's other financial institutions. The Alabama Bank purchased the building and office equipment of the Fourth National, one of the show places of the business district. A joint statement issued at conclusion of the conference revealed that an investigation of the Fourth National's affairs has been under way since Friday under direction of the Montgomery Clearing House Association. A statement issued by Henry Hobbie, president Fourth National, Tuesday, said the merger was determined protect interests of depositors. "After due deliberation by our board of directors," Hobbie's statement said, trade was consummated with the First National Bank of Montgomery by which they assumed liabilities and our deposits are to be paid in full. Our whole idea was to protect the business interests and those who have confidence in The First National Bank was organized here more than half century ago. It is capitalized at $1,and its last published 000,000, statement listed surplus. The Fourth National was capitalized at $500,000 with a surplus of and undivided profits of $100,000 $283,000.