First National Bank - Prattville, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9055
Charter Number: 9055
Start Date: January 1, 1930*
Location: Prattville, Alabama (32.464, -86.460)

Metadata

Model: gpt-5-mini
Short Digest: c1837072

Response Measures

None

Description

Article (Southern Star, 1932-05-18) states the First National Bank, Prattville failed in 1930 due to fraudulent and dishonest acts by manager Allen Northington. No mention of a depositor run; the failure and subsequent lawsuit are described. OCR errors in the article were corrected (e.g., 'manager sociation' -> 'manager of the association', 'failand' -> 'failure'). Classified as suspension_closure because the bank failed/closed and did not reopen.

Events (1)

1. January 1, 1930* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Fraudulent and dishonest acts by manager Allen Northington leading to bank failure and large losses to the Cotton Association (approx. $140,000). No run or reopening mentioned in the article evidence provided.

Newspaper Articles (1)

1. May 18, 1932 Southern Star Newton, AL

Article from Southern Star, May 18, 1932

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Article Text

Cotton Association Wins Suit Against Bond Company The Alabama Farm Bureau Cotton Association yesterday was awarded verdict of $50,000 with interest, the full amount claimed, in suit against the National Surety Company in the District Court. The jury deliberated about close of the which required two one-half days testimony and arguments and which suit for the amount of bond made Allen Northington, former general of the manager sociation. The Association claimed that had approximately $140,000 through fraudulent and dishonest acts Northington period of years that these came light following the failure 1930 of the First National Bank, Prattville. The Surety Company contended that some the alleged irregular were known to others in the Association before the bank's failand that no notice then given the Surety Company quired the contract. The Association claimed that had no of fraudulent transactions untili after failed. Judge Crum, representing the Association, told the jury that Northington tried to stave off the failure of the bank to save his own hide.