2367. First National Bank (Colquitt, GA)

View Charter #6498 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
6498
Charter Number
6498
Start Date
July 28, 1923
Location
Colquitt, Georgia (31.171, -84.733)

Metadata

Model
gpt-5-mini
Short Digest
8a34426297e5b16e

Response Measures

Full suspension

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1923-08-14
Date receivership terminated
1925-03-23
OCC cause of failure
Run
Share of assets assessed as good
30.7%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
15.5%

Description

Newspaper reports (Aug 1 and Aug 7, 1923) state a run occurred on the First National Bank of Colquitt and the bank failed to open its doors (closed) afterward. No reopening or receivership is mentioned in these items. Prior 1921 defalcation and temporary closure/reopening are noted but separate.

Events (4)
1. November 21, 1902 Chartered
Source
historical_nic
2. July 28, 1923 Run
Cause Details
Article states the cause of the run was not announced.
Newspaper Excerpt
The First National Bank of Colquitt failed to open its doors for business here said of a run on the bank during Saturday.
Source
newspapers
3. August 1, 1923 Suspension
Cause Details
Bank failed to open following the run; no government action or voluntary liquidation mentioned.
Newspaper Excerpt
The First National Bank of Colquitt failed to open its doors this morning as a result of a run on the bank.
Source
newspapers
4. August 14, 1923 Receivership
Source
historical_nic

Newspaper Articles (2)
1. August 1, 1923 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, August 1, 1923

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Article Text

BANK OF COLQUITT FAILS TO OPEN DOORS COLQUITT, Aug. 1.-The First National Bank of Colquitt failed to open its doors for business here said of a run on the bank during Saturday. The cause of the run was not announced. The bank had a capital stock of $50,000, with deposits of $30,000.

2. August 7, 1923 The Dawson News Dawson, GA
Article from The Dawson News, August 7, 1923

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Article Text

BANK OF COLQUITT CLOSED AFTER RUN FAILS TO OPEN DOORS AFTER FLURRY. FORMER CASHIER IN FEDERAL PRISON. COLQUITT, Ga.-The First National bank of Colquitt failed to open its doors this morning as a result of a run on the bank. The cause of the run has not been announced. This bank was closed temporarily in October, 1921, following a defalcation of M. Watson, then president, for over $100,000, of which he was convicted and for which he is now serving sentence in Atlanta federal prison. The bank reopened after the stockholders had paid an assessment of 100 per cent. The bank has a capital stock of $50,000 and is reported to have had deposits of $30,000..