Merchants Bank - Montgomery, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 23, 1930
Location: Montgomery, Alabama (32.367, -86.300)

Metadata

Model: gpt-5-mini
Short Digest: ca6df39b

Response Measures

None

Description

Article (1930-04-23) describes the Merchants Bank as having closed several years ago and been taken over by the State Banking Department; final dividends ordered and paid, repaying depositors in full. No run is mentioned in the article. Classified as a suspension/closure with receivership proceedings.

Events (1)

1. April 23, 1930 Receivership

Newspaper Excerpt: An order was signed Monday by Judge Walter B. Jones ... authorizing the final payments of dividends for the defunct Merchants Bank of Montgomery. This bank closed its doors several years ago and was taken over by the State Banking Department.
Source: newspapers

Newspaper Articles (1)

1. April 23, 1930 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, April 23, 1930

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Article Text

MERCHANTS BANK AFFAIRS SETTLED Last Dividend, 7 1-2 Per Cent, Paid On Order Signed By Judge Jones An order was signed Monday by Judge Walter B. Jones in the Chancery DIvision of Circuit Court authorizing the final payments of dividends for the defunct Merchants Bank of Montgomery. This bank closed its doors several years ago and was taken over by the State Banking Department. Since that time its affairs have beeh administered through the Chancery Court of this County. These last dividends, amounting to approximately seven and one-half per cent, clear the records and repay every depositor and stockholder in full, according to Judge Jones.