Miles National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6935
Charter Number: 6935
Start Date: February 1, 1922
Location: Miles, Texas (31.597, -100.182)

Metadata

Model: gpt-5-mini
Short Digest: 431c286c

Response Measures

None

Description

Article reports the Miles National Bank closed on Feb. 1, 1922 (two months prior to Mar. 30 reopening of a reorganized First National Bank of Miles). The Miles National Bank appears to have remained closed permanently; depositors of the defunct bank were to be paid with a small discount. Cause of the suspension/closure is not specified in the article.

Events (4)

1. August 22, 1903 Chartered

Source: historical_nic

2. February 1, 1922 Suspension

Cause Details: Article does not specify reason for the closing/suspension.
Newspaper Excerpt: the closing of the Miles National Bank on Feb. 1.
Source: newspapers

3. March 30, 1922 Other

Newspaper Excerpt: The First National Bank of Miles opened for business today, giving that town banking facilities after two months suspension on account of the closing of the Miles National Bank on Feb. 1. The reorganized bank begins business with $75,000 capital ... The depositors of the defunct bank will be paid with the loss of only a small discount, It was said.
Source: newspapers

4. December 15, 1923 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. April 4, 1922 The Lubbock Avalanche Lubbock, TX

Article from The Lubbock Avalanche, April 4, 1922

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Article Text

FIRST NATIONAL BANK OF MILES IS OPENED Ballinger, Texas, March 30.-The First National Bank of Miles opened for business today, giving that town banking facilities after two months suspension on account of the closing of the Miles National Bank on Feb. 1. The reorganized bank begins business with $75,000 capital and the following officers: R. W. Bruce of Ballinger, president; Sol Bromburg of Galveston, vice president: John Lacy of Miles, vice president; Ray B. Johnson of San Angelo, cashier; Frank Lewin of Miles, assistant cashier. The depositors of the defunct bank will be paid with the loss of only a small discount, It was said.