2242. Athens Trust & Banking Company (Athens, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
February 1, 1912*
Location
Athens, Georgia (33.961, -83.378)

Metadata

Model
gpt-5-mini
Short Digest
cddbb687f14062db

Response Measures

None

Description

Articles describe the Athens Trust & Banking Company as a defunct/failed institution (failed about a year before Feb 1913), with receivers appointed and indictments for embezzlement and irregular loans/borrowing by officers. No article describes a depositor run prior to suspension; cause of failure is bank-specific adverse information (embezzlement/irregularities). A receiver (Frank A. Lipscomb) is named in May 1912 and depositors received a 15% dividend Feb 18, 1913.

Events (3)
1. February 1, 1912* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure due to irregularities, embezzlement and unauthorized borrowing by officers (president and cashier implicated).
Newspaper Excerpt
FAILED ... the defunct Athens Trust and Banking Company, which failed about a year ago
Source
newspapers
2. May 29, 1912 Receivership
Newspaper Excerpt
Judge Charles H. Brand, in superior court, has fixed $500 as compensation for Frank A. Lipscomb, temporary receiver of the bank.
Source
newspapers
3. February 18, 1913 Other
Newspaper Excerpt
The depositors of the defunct Athens Trust and Banking Company ... received today 15 per cent on their deposits.
Source
newspapers

Newspaper Articles (5)
1. May 29, 1912 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, May 29, 1912

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Article Text

ATHENS BANKERS WILL FACE COURT President, Cashier and Director Indicted for Irregularities in Use of Funds. ATHENS, GA., May 29.-Several new indictments have been returned by the Clarke county grand jury against officers of the defunct Athens Trust and Banking Company. J. W. Griffin, president, and R. H. McCrary, cashier, are charged with receiving moneys for deposit after the bank was in unsound condition. H. L. McCrary, uncle of the cashier and a director of the bank, is charged with having borrowed $14,816.10; President Griffin, with having borrowed $13,140, and Cashier McCrary, with having borrowed $4,836.10, all without the consent of the board of directors. Cashler McCrary is also charged with embezzlement, it being alleged that he is due the bank $11,548. Judge Charles H. Brand, in superior court, has fixed $500 as compensation for Frank A. Lipscomb, temporary receiver of the bank.

2. May 29, 1912 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, May 29, 1912

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Article Text

ATHENS BANKERS INDICTED AGAIN President, Cashier and Director Indicted for Irregularities in Use of Funds. ATHENS, GA., May 29.-Several new indictments have been returned by the Clarke county grand jury against officers of the defunct Athens Trust and Banking Company. J. W. Griffin, president, and R. H. McCrary, cashier, are charged with receiving moneys for deposit after the bank was in unsound condition. H. L. McCrary, uncle of the cashier and a director of the bank, is charged with having borrowed $14,816.10; President Griffin, with having borrowed $13,140, and Cashier McCrary, with having borrowed $4,836.10, all without the consent of the board of directors. Cashier McCrary is also charged with embezzlement, it being alleged that he is due the bank $11,548. Judge Charles H. Brand, in superior court, has fixed $500 as compensation for Frank A. Lipscomb, temporary receiver of the bank.

3. June 6, 1912 The Bamberg Herald Bamberg, SC
Article from The Bamberg Herald, June 6, 1912

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Article Text

Athens Bankers to Face Court. Athens, Ga., May 30.-Several new indictments have been returned by the Clarke county grand jury against officers of the defunct Athens Trust and Banking Company. J. W. Griffin, president, and R. H. McCrary, cashier, are charged with receiving moneys for deposit after the bank was in unsound condition. H. L. McCrary, uncle of the cashier and a director of the bank, is charged with having borrowed $14,816.10; President Griffin, with having borrowed $13,140, and Cashier McCrary, with having borrowed $4,836.10, all without the consent of the board of directors. Cashier McCrary is also charged with embezzlement, it being alleged that he is due the bank $111,548. Judge Charles H. Brand, in superior court, has fixed $500 as compenstation for Frank A. Lipscomb, temporary receiver of the bank.

4. February 18, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 18, 1913

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Article Text

FAILED BANK'S DEPOSITORS GET 15 PER CENT DIVIDEND ATHENS, GA., Feb. 18.-The depositors of the defunct Athens Trust and Banking Company, which failed about a year ago, received today 15 per cent on their deposits. Judge C. H. Brand ordered this much checked out by the receivers as the first that the depositors have received since the institution failed. J. W. Griffin and R. H. McCrary are now in the Clarke county jail under sentence of five years each for implication in the failure. Their cases have been appealed to the court of appeals.

5. February 19, 1913 Atlanta Georgian Atlanta, GA
Article from Atlanta Georgian, February 19, 1913

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Article Text

FAILED BANK'S DEPOSITORS GET 15 PER CENT DIVIDEND ATHENS, GA., Feb. 18.-The depositors of the defunct Athens Trust and Banking Company, which failed about a year ago, received today 15 per cent on their deposits. Judge C. H. Brand ordered this much checked out by the receivers as the first that the depositors have received since the institution failed. J. W. Griffin and R. W. McCrary are now in the Clarke county jail under sentence of five years each for implication in the failure. Their cases have been appealed to the court of appeals.