240. First National Bank (Samson, AL)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 8028
Charter Number: 8028
Start Date: December 31, 1929
Location: Samson, Alabama (31.113, -86.046)

Metadata

Model: gpt-5-mini
Short Digest: 60a15307

Response Measures

Full suspension, Books examined

Other: Placed in hands of Comptroller of the Currency; receiver later paid depositors 10%. Detailed notes in fields below.

Receivership Details

Depositor recovery rate: 39.7%
Date receivership started: 1930-01-08
Date receivership terminated: 1937-04-14
OCC cause of failure: Economic conditions
Share of assets assessed as good: 16.4%
Share of assets assessed as doubtful: 35.7%
Share of assets assessed as worthless: 47.9%

Description

A robbery (reported Dec 31, 1929) led to a depositor run that withdrew substantial funds and the directors ordered the bank closed and placed its affairs in the hands of the Comptroller. Later reporting shows a receiver and liquidation payments to depositors, indicating permanent closure.

Events (5)

1. January 2, 1906 Chartered

Source: historical_nic

2. December 31, 1929 Run

Cause: Bank Specific Adverse Info
Cause Details: A reported armed robbery (cash taken from vault) on Dec. 31 provoked widespread withdrawals (reports of $18,000 withdrawn).
Measures: Directors convened and decided to close the bank; affairs turned over to the Comptroller of the Currency.
Newspaper Excerpt: a run developed following the robbery of the institution last Tuesday ... about $18,000 was drawn out by depositors after robbery
Source: newspapers

3. January 3, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors closed the bank after the run following the robbery and placed its affairs in the hands of the Comptroller of the Currency.
Newspaper Excerpt: First National Bank of Samson was ordered closed today by order of the directors ... placed into the hands of the comptroller of the currency
Source: newspapers

4. January 8, 1930 Receivership

Source: historical_nic

5. June 6, 1930 Receivership

Newspaper Excerpt: First Nat'l. Bank of Samson Paying 10% to Depositors ... receiver of the defunct First National Bank of Samson ... paying ten per cent to its depositors. This bank was closed about the first of the year ... until the affairs of the bank are liquidated.
Source: newspapers

Newspaper Articles (15)

1. January 3, 1930 The Anniston Star Anniston, AL

Article from The Anniston Star, January 3, 1930

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Samson Institution Closes Doors After Bandit Takes $2,000 SAMSON, Ala., Jan. First National Bank of Samson was closed today by order the directors after run developed following the robbery the institution last Tuesday approximately $2,Gilbert Morris, cashier, said the action decided upon ing of the directors night run, which started shortly aftproportion. He said the bank was solvent and that its turned over to the comptroller the currency. The bank was organized in 1906 with capital $100,000 and uplus of $20,000. robbery took place last Tues'ay morning when R. wokkeeper, opened the institution for the day. man whom he described well dressed appeared at the teller's window and asked for cashier's check. Morind when he turned to open the vault he was covered with pistol and forced to open containing the bank's money. Morind said the robber took bundle of and struck him on the head with the pistol and locked the door behind He found later by Morris locked the vault dazed condition. Geneva County authorities and operatives private detective agency working on the case said clues had the identity of the robber.

2. January 3, 1930 The Decatur Daily Decatur, AL

Article from The Decatur Daily, January 3, 1930

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CASHIER SAYS INSTITUTION STILL SOLVENT Directors Decide On Drastic Action At Called Meet CLUES TO NO ROBBER SEEN Bookkeeper Tells Of Opening Vault To Lone Bandit SAMSON, Ala., Jan. First National Bank of Samson ordered closed today by order the directors robbery tution Tuesday $2,600. Gilbert Morris, cashier. said the action decided upon ing of the directors night after run, which started shortly after the robbery, proportions. He the bank was solvent and that its affairs had been turned over to the comptroller of the rency. The bank organized in 1906 with capital of $100,000 and surplus $20,000. The robbery took place Tuesday morning when ing, opened the tution for the day. he described well dressed, peared the teller's window asked for cashier's check. said when he turned to vault, he covered and forced open the safe, taining the bank's money. Moring said the robber took bundle currency from struck him the pistol locked Morris, locked dazed Geneva county authorities operatives private detective agency working the case, no clues had developed the identity of the robber.

3. January 3, 1930 The Dothan Eagle Dothan, AL

Article from The Dothan Eagle, January 3, 1930

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$18,000DRAWNOUT BY DEPOSITORS AFTER ROBBERY First National Is Second to Close, Leaving Samson Without Banking Facilities BOARD OF DIRECTORS VOTE TO CLOSE AFTER ALL-DAY RUN Institution Today Placed In Hands Of Comptroller of the Currency Following a run yesterd which about $18,000 wa the First National Bank of Sam closed yesterday afternoon and placed into the hand of the troller of the currency. according to W McCartney, editor of the son Ledger in a phone call 10 The Eagle today Mr. McCartn stated that the rectors of the institution yester tors, Mr McCartney and Mr McCartney told The Engle that the run was probably du to excit ment the robbers of the inst tion Tu morning when an identified bandit entered the builde tion of amount said to have been 2,500 and A man whom Mooring described well dressed appeare at the window and asked for Cashier's Check Mooring said when he turned to open the vault was covered with pistol and forced to open.t safe containing the bank's money Mooring said the robber took I bundle of currency from the and and struck him on the head with the pistol locking the door behind him He was found some time later by Morris locked itt the vault in a dazed condi Geneva county officers who are working on the case said no clues had been developed as to the identity of the robber Mr McCartney stated that a great deal of talk had been going on the streets of Samson, and that much of it was undoubtedly of a greatly aggerated character Hamp Morris of Geneva is pr. nt of the bank and W M Morris of Geneva said to member the board of directors Mr. Met ney stated that while the people Samson were depressed over the prospect, that business going aboad there today TER usual, and that there was general feeling that th bank would meet its obligation It is understood that plans are derway then now for the organi zation of the Fir National Bank of the formation of new financial in stitution The Eaggle told by Mr McCartncy that group of gomery today the The closing of the National Samson without manking fa cilities, as the Farmer Mer chants bank closed several week are

4. January 4, 1930 The Tennessean Nashville, TN

Article from The Tennessean, January 4, 1930

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Robbery Starts Run: Directors Close Bank Samson, Ala., Jan. The First National Bank of Samson was ordered closed today by order of the Mirectors after a run developed following robitery of the institution last Tuesday of ap$2,600 Gilbert cashier, said the action decided upon meet of the directors last night after the run. which shortly after the robbery, gradually grew in proportions. He said the bank and that affairs been turned over to the of the organized in with capital of and surplus of

5. January 4, 1930 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, January 4, 1930

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SAMSON NATIONAL BANK CLOSED Institution Recently Robbed Said By Its Cashier To Be Solvent SAMSON, ALA., First National Bank Samson was closed today while Geneva County thorities end operatives of private detective agency searched for lone man who the last Tuesday and officials run the bank and its subseclosure. The institution which was organized in 1906 with and surplus of $20,000 ordered closed following meeting the directors last night. Gilbert Morris, cashier, the bank solvent and that its affairs have been placed in the hands the comptroller the Morris said was taken by the robber. The decision to close the bank, Morris followed which started shortly the robbery in such the considered the for the protection of A. R. Moring, told officers he by dressed man he opened the for the day. He said he was forced at the point pistol and locked the vault by the robber who struck him blow the head with the pistol. He was found later by Morris in dazed condition.

6. January 10, 1930 Geneva County Reaper Geneva, AL

Article from Geneva County Reaper, January 10, 1930

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Second Samson Bank Closes Bringing the total of bank failures in Geneva county to three, Thursday afternoon the First National Bank of Samson closed its doors following a heavy run Wednesday and Thursday. It is supposed that the run was caused by the unrest following the failure of the Farmers and Merchants Bank there on December 1st and the robbery of the First National Bank a few days previous to its failure. Wilbur N. Morris was cashier of the defunct institution, and D. H. Morris, of Geneva, president. It is-understood that a movement is on foot by Geneva capitalists to establish a state bank in Samson in the very near future. The Bank of Slocomb was closed by order of the directors on November 19, this being the first of the three banks to close. "We want you to endorse a brand of our tobacco that you have been using for 50 years," Liggett-Myers and Co.) Next Capt. Stanley Nash and Alternate Captain Sessions Holland spoke. Election of captain and manager. Lewis Gay was elected captain and Julius Miller alternate captain, Leonard Cox, manager and Comer Grantham, assistant manager. Toastmaster Hitchcock then made a motion to give a rising vote of thanks for the banquet to the Booster's Club. The P. T. A. met Thursday afternoon for a business meeting. It was agreed that a part of the money in the treasury would be given over for library books for the elementary grades. The G Club initiated its new members Saturday afternoon and Saturday night after the basketball game. Those initiated were Angus Campbell, Neal Lowry, Earl Pledger, Wilburn Windham, Tillman Mahan, Leonard Cox and Dan McLeod. For the details of this évent, ask any boy mentioned above. The Senior II and III Classes presented the comedy, "Valley Farm," Thursday evening in the high school auditorium before an appreciative audience. Each character carried out his part well. Lewis Gay was unanimously elected captain of the football team at the bootball banquet Friday night. Geneva High School is confident that Gay is the one for the place and is expecting great things of him and his team for the season 1930. He succeeds Stanley Nash. Julius Miller was elected alternate captain, Leonard Cox, business manager, and Comer Grantham, assistant manager. The girls elected Annie Laurie Harris captain of their team; the boys elected Neal Lowry. Blon Pate was elected president of the Senoir I Class to take Edna Newsome's place. The new G Club members entertained with the following chapel program Friday morning: Devotional-Neal Lowry. Baby Show-All new members. Undressing Act-Angus Campbell. Song, "My Adeline," Earl Pledger and Leonard Cox. Demonstration of Mouthophonic phonograph, Wilburn Windham and Dan McLeod. Presentation of ring to Coach Hitchcock, Tillman Mahan. "Take-Off of Typical High School Girls," Clyde Cobb and Earl Pledger. Jokes-Leonard Cox. Song-"There Was a Little Donkey,' all. Master of ceremonies, Neal Lowry. Litso Club Program The Litso Club met January 3 in Mrs. Adair's room. The following program was given: 1. A description of the "Wild Bushman" of Africa, by Henry Draughon. 2. "A Cobra as a Bedfellow," a story of adventure, by Leonard Cox. 3. Aims for the Litso Club, by Annie Beth Clements. 4. New Year's Resolutions, by Lillian Craig. Phi Gamma Club Program The Phi Gamma Club held its regular meeting on Friday, January 3. The following program was presented by the different members of the club: 1. Psychology Test, Aline Abbott. 2. Salesman selling articles of value to members of the audience. 3. Master Mind Reader, Earle Pledger, who read the minds of Mary Fleming and Hollice Ogletree, thereby revealing many interesting facts. 4. Impersonation of Harry Ritch, with many interesting and clever tricks, Comer Grantham. After the program the president took charge and all business was attended to. The meeting closed with

7. January 14, 1930 The Huntsville Times Huntsville, AL

Article from The Huntsville Times, January 14, 1930

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BANK CASHIER IS NOW RECOVERING Ala., Jan. Weeks, of the First Bank of Florala which failed open Saturday, recovering today from bullet wound the neck, said have entered neck ranged inflicting flesh wound from he pected to Worry over the closing the bank was said to have been for the The bank failed to open Saturday after run earlier in the week $75,000 to have been Failure of the First National of Samson, 20 miles from here, days ago following robbery was believed have responsible for the run on the Florala bank. bank examiners began an the books the yesterday. Bank officials the institution plans were under way re-open its as The bank was organized in 1907 and capital of $100,000 and surplus of $20,000.

8. January 14, 1930 The Dothan Eagle Dothan, AL

Article from The Dothan Eagle, January 14, 1930

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19 T. M. WEEKS RECOVERING FRQM SELF-INFLICTED BULLET WOUND IN NECK FLORALA, Ala., Jan. 14 -(.P) -T M. Weeks, assistant cashier of the First National Bank of Fiorala which failed to open Saturday, Was recovering today from a bullet wound in the neck, said to have been self-inflicted yesterday. The bullet entered Weeks' neck and ranged downward inflicting a flesh wound from which he is expected to recover Worry over the closing of the bank was said to have been responsible for the act. The bank failed to of n Sat. after a run developed eariler in the week when $75,000 was said to have been withdrawn by de. positors. Failure of the First National Bank of Samson, 100 miles from here, several days ago following a robbery was believed to have been responsible for the run on the Florala Bank. National bank examiners began an audit of the books of the institution yesterday. Bank officials said the institution was soivent and plans were under way to re-open its doors as soon as possible. The bank was organized in 1907 and had a capital of $100, 000 and surplus of $20,000 Katherine Wallace Respondent. In this cause it being made to appear to the Register by affidavit of complainant that the defendant is non-resident of Alabama. and that her postoffice address is unknown, and further that in the belief of said affiant. the Defendant is of the age of twenty-one years; it is therefore ordered by the Register that publication be made in the Dothan Eagle, a newspaper published in Houston County, once a week for three consecutive weeks. requiring her, the said Katherine Wallace. to plead, answer or demur to the Bill of Complaint in this cause within forty days from this date or thereafter a decree Pro C nfesso may be taken against her. Done at office in Dothan. Alabama, this the 30th day of December, 1929. Mrs. A. L. Bowdon, Register

9. January 15, 1930 The Montgomery Advertiser Montgomery, AL

Article from The Montgomery Advertiser, January 15, 1930

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WEEKS RALLYING FROM HIS WOUND Bank Of Florala Said By Officials To Be Solvent Weeks, assistant cashier of the First National Bank of Florala, which failed to open Saturday, was recovering today from bullet wound in the neck, said to have been yesterday. The bullet entered Weeks's neck and ranged downward inflicting flesh wound from which he is expected to recover Worry over the closing of the bank was said to have been responsible for the act. The bank failed to open Saturday after run developed earlier in the week when $75,000 was said to have been withdrawn by depositors. Failure of the First Natoinal Bank of Samson, 20 miles from here, several days ago following a robbery, was believed to have been responsible for the run on the Florala bank. National bank examiners began an audit of the books of the institution yesterday. Bank officials said the institution was solvent and plans were underway to reopen its doors as soon as possible.

10. January 27, 1930 Evening Star Washington, DC

Article from Evening Star, January 27, 1930

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FORMER BANK EMPLOYE HELD AS EMBEZZLER Cashier Swears to Warrant Accusing One-Time Bookkeeper of Institution. By the Associated Press. SAMSON, Ala., January 27.-J. R. Moring, former bookkeeper of the defunct First National Bank of Samson, was under bond yesterday on charges of grand larceny and embezzlement in connection with the reported robbery of the institution December 31, which resulted in its suspension. He was arrested Saturday night. Moring was arrested by William J. Courtney of the Attorney General's department on a warrant sworn out by the cashier of the bank. J. Norton Mullins, circuit solicitor, said Moring denied charges.

11. January 30, 1930 The Elba Clipper Elba, AL

Article from The Elba Clipper, January 30, 1930

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Samson Employe Arrested On Larceny Moring, former the defunct First National Bank of Samson, liberty under bond of today following Saturday night on charges of grand larceny and embezzlement the institution December The closed few days after the robbery when the bank resulted in several thousdollars being withdrawn positors. Bank officials placed the from the robbery $2,650. Moring said the robbery took place when opened the bank for business. He said middle aged walked into the bank and the point pistol forced him the vault. The former bookkeeper said the robber picked package of and struck him over the currency head with the butt of the pistol and locked him the vault where found few minutes later Morris, cashier of the bank. The robber has not been apprehended. Moring arrested by William Courtney, operative of the torney department, sworn out by Morris. He spent Saturday night in the HousCounty Dothan before posting bond yesterday.

12. January 31, 1930 Geneva County Reaper Geneva, AL

Article from Geneva County Reaper, January 31, 1930

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First New Bank for Samson Bank, Closed Its Doors Wed. Opened Monday at Noon Following closely the failure of the Dothan National Bank on day morning heavy run depositors, the First National Bank of Coffee Springs closed its doors morning shortly after opening for business. It said that the Coffee Springs bank cleared through the Dothan institution and that the latter's failure brought undue pressure on the Coffee Springs bank, thereby forcing them to close. B. Kelly was cashier of the defunct Coffee Springs bank and Crawford president. This makes the fourth bank failure Geneva county in little over months. The Bank of Slocomb closed on November 19, The Farmers Merchants Bank of Samson on December and The First National Bank of Samson on January The Samson Banking Company, State bank, opened its doors at SamMonday at noon, with capital of $25,000 and surplus of $10,000, all paid in. The new bank occupies the building formerly occupied by the defunct Farmers & Merchants Bank, of that city, which closed its doors two months ago. D. Watson, of Hartford, is the president of the new concern, while P. Watson, of Geneva, is vice president, and Henry Crenshaw, of Geneva, is to serve as cashier. Samson has been without bank for the past several weeks, following the failure of the First National Bank on January The Farmers & Merchants Bank was also closed on December first of 1929.

13. April 30, 1930 The Decatur Daily Decatur, AL

Article from The Decatur Daily, April 30, 1930

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FORMER BANKER'S BODY River Yields Victim Of Drowning At Abbeville ABBEVILLE, Ala., April -James Moring, 34, former bookkeeper of the defunct First NationBank of Sampson. was drowned the Choctawhatchie river, eight miles from here, late Monday. The body was recovered yesterday. Moring, with Sellers Riley. had fishing party up the river. He was point. the river bank by Riley, who continued stream. When Sellers returned to pick up Moring late Monday, the former bank could not be located. parties were organized and the body recovered from the river bed early yesterday after an all night search. The root of tree was clutched in his hand and marks on the river bank indicated that Moring had lost his footing slipped into the stream. Moring was at liberty under bond on charges growing out of the failure of the Sampson bank. He reported that lone bandit held him up opened for business on the morning of December 31. run developed on the bank, which necessitated its closing and was arrested several days later. Funeral services were held today. Surviving his widow young son.

14. May 1, 1930 The Evergreen Courant Evergreen, AL

Article from The Evergreen Courant, May 1, 1930

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Bank Clerk's Body Recovered Tuesday Abbeville, April body of James B. Mouring, former employe of the defunct First National bank of Samson, was recovered from the Choc tawbatchie river today. eight miles from here, following his disappearance late yesterday while on a fishing party. Mouring yesterday was accompanied by Riley Sellers on a fishing trip up the river and was left on the river bank to be picked up by Riley on his return downstream. Riley failed to locate Mouring and searching parties were organized. After an all night search the body was brought from the river at 7:00 o'clock this morning. Clutched in his hand was the root of a tree and marks found on the bank indicated that he slipped and fell into the stream. Mouring was at liberty under bond in connection with charges brought against him in connection with the bank's failure. He reported that a well-dressed man held him up at the point of a pistol early on the morning of December 31 when he opened the bank for the day. He was found in a dazed condition shortly atferward by other employes of the bank. A run developed on the bank following the reported robbery which resulted in the closing of its doors.

15. June 6, 1930 Geneva County Reaper Geneva, AL

Article from Geneva County Reaper, June 6, 1930

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First Nat'l. Bank of Samson Paying 10% to Depositors According to Tidwell, ceiver of the defunct First National Bank of Samson, this concern is paying ten per cent to its depositors. This bank was closed about the first of the year, caused by heavy is expected that the payment of funds to its depositors will on for several months until the fairs of the bank are liquidated. If you don't your Reaper regularly, please us know.