First National Bank - Fort Gaines, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6002
Charter Number: 6002
Start Date: December 16, 1932
Location: Fort Gaines, Georgia (31.609, -85.047)

Metadata

Model: gpt-5-mini
Short Digest: c68fff9168aa2ea1

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1932-12-19
Date receivership terminated: 1937-07-24
Share of assets assessed as good: 11.6%
Share of assets assessed as doubtful: 83.1%
Share of assets assessed as worthless: 5.4%

Description

Article reports First National Bank of Fort Gaines closed and a receiver (John R. Vann) was appointed. No mention of a depositor run prior to the closure; closure and receivership indicate government/authority action resulting in permanent closure.

Events (4)

1. October 28, 1901 Chartered

Source: historical_nic

2. December 16, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed (suspended) and a receiver was appointed to handle its affairs; closure appears to be official action leading to receivership
Newspaper Excerpt: Vann ... was appointed to handle the affairs of the First National bank Fort Gaines, Ga., which closed Friday
Source: newspapers

3. December 19, 1932 Receivership

Source: historical_nic

4. December 19, 1932 Receivership

Newspaper Excerpt: John R. Vann ... was appointed to handle the affairs of the First National bank Fort Gaines, Ga., which closed Friday Vann, who has headquarters here also is receiver for closed banks ... Georgia.

Newspaper Articles (1)

1. December 20, 1932 The Macon Telegraph Macon, GA

Article from The Macon Telegraph, December 20, 1932

Click image to open full size in new tab

Article Text

Fort Gaines Bank's Receiver Appointed John R. Vann. receiver of the Houston National bank here, Monday was appointed to handle the affairs of the First National bank Fort Gaines, Ga., which closed Friday Vann, who has headquarters here also is receiver for closed banks at Eufaula, Abbeville and Lumpkin, Georgia.