Bank of Disputanta - Disputanta, VA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 22, 1922
Location: Disputanta, Virginia (37.124, -77.226)

Metadata

Model: gpt-5-mini
Short Digest: e04c7b29

Response Measures

None

Description

Article (Richmond Times-Dispatch, Jan 23, 1922) reports the Bank of Disputanta closed its doors after a short notice, a receiver (J. Gordon Bohannon) was appointed, and examiners had closed the bank. The reported cause is insolvency-related (notes outstanding equal to surplus plus half capital). No run is described. Closure appears permanent with receiver appointed.

Events (2)

1. January 22, 1922 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Notes outstanding equal in amount to the surplus plus half of its capital (reported $22,500), indicating insolvency/deficiency discovered by examiner
Newspaper Excerpt: The Bank of Disputanta closed Its doors yesterday following a short period of notice, and J. Gordon Bohannon ... was appointed receiver
Source: newspapers

2. January 23, 1922 Receivership

Newspaper Excerpt: J. Gordon Bohannon, attorney of this city, who was appointed receiver by Judge J. F. West, today conferred with A. N. Cocks, Jr., cashier of the bank.
Source: newspapers

Newspaper Articles (1)

1. January 25, 1922 Richmond Times-Dispatch Richmond, VA

Article from Richmond Times-Dispatch, January 25, 1922

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Article Text

BANK OF DISPUTANTA MAY BE REORGANIZED Reported Assets Are Ample for Protection of Depositors. (Special to The Times-Dispatch.] PETERSBURG, Jan. 23.-The Bank of Disputanta closed Its doors yester. day following 11 short period of notice, and J. Gordon Bohannon, attor. noy of this city, who was appointed receiver by Judgo J. F. West, today conferred with A. N. Cocks, Jr., cashier of the bank. However, Mr. Bohannon would make no statement regarding the financial condition of the bank. which WIH closed by 16 bank examinor. The receiver also maid that nothing pertaining to the affairs of the Institution would be made public for the next several days. Although no official statement relutive to the reason for the bank closing could be secured, it was the belief from one or two unofficial sources that notes were found to be outstanding equal in amount to the surplus of the bank plus half of its capital, equaling $22,500. The closing of the bank, according to a statement of one of the directors. came as a complete surrise to both the directors and stockholders. as the bank examiner had been requested an extension of twenty-four hours by the directors to make up certain notes by 9 o'clock yesterday morning. The directors of the bank are nearly all farmers. but it 18 said they felt confident of settling the matter satisfactorily and preventing the closing of the bank. It was stated today that the verbal report of the last bank examiner on January 16 showed the institution was in better financial condition than for the past eighteen months. Several local bankers said that had they known of the plight of the small bank. they would have gone to its rescue, and if the directors had been granted the twenty-four-hour extension the embarrassment of suspending business would have been avoided. It was said today that the bank would pay its depositors dollar for dollar and no one would lose a penny. It was also learned that several of the stockholders have signified their a and the intention in Disputanta of holding reorganizing mass-meeting bank. while local bankers have expressed the belief that if the directors of the smaNDank can be brought into conference the bank could be reopened in a few days. The Bank of Disputanta was organized in 1910, with A. R. Hobbs as president. The presents president Is D. Webb.