2514. First National Bank (Millen, GA)

View Charter #9088 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9088
Charter Number
9088
Start Date
March 1, 1934*
Location
Millen, Georgia (32.804, -81.949)

Metadata

Model
gpt-5-mini
Short Digest
25c40b0d7f96a731

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-06-26
Date receivership terminated
1937-07-17
Share of assets assessed as good
60.1%
Share of assets assessed as doubtful
30.3%
Share of assets assessed as worthless
9.6%

Description

OCR in the clips is poor. Articles (Macon Telegraph, Jul 1934) state the First National Bank of Millen was closed by presidential edict in March 1934 and a receiver was named in July 1934. No article describes a depositor run; instead the bank was closed by government action and placed in liquidation/receivership. Two different receiver names appear in the OCR (Cohen in the July 3 item; Wright in the July 21 item) — likely reporting successive appointments or OCR errors.

Events (5)
1. April 1, 1908 Chartered
Source
historical_nic
2. March 1, 1934* Suspension
Cause
Government Action
Cause Details
Closed by presidential edict in March 1934 (government action leading to suspension)
Newspaper Excerpt
which institution was closed presidential edict March
Source
newspapers
3. June 26, 1934 Receivership
Source
historical_nic
4. July 3, 1934 Receivership
Newspaper Excerpt
BANK RECEIVER APPOINTED ... MILLEN Ga., July Cohen has been named for the First National Bank of Millen ... liquidating (Macon Telegraph 1934-07-03).
Source
newspapers
5. July 21, 1934 Receivership
Newspaper Excerpt
BANK RECEIVER CHOSEN ... the First National bank Lyons, chosen receiver of the bank at Millen. (Macon Telegraph 1934-07-21).
Source
newspapers

Newspaper Articles (2)
1. July 3, 1934 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, July 3, 1934

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Article Text

Kappa Alphas Hold Meeting at Tavern Members the Macon Alumni chapter the Kappa Alpha fraternity held their regular only: x-Daily except yesterday at the Hotel Dempsey Tavern. John Georgia Railroad president, conducted business Arrives session. Tentative plans were made to entertain Macon Kappa Alphas Macon, Dublin & Sav. R. dinner at the Tavern one night Arrives next pointed chairman of the on Southern Railway System Arrives From Leaves BANK RECEIVER APPOINTED and points MILLEN Ga., July Cohen has been named for the First National Bank of Millen 1:20pm which institution was closed presidential edict March and has been unable Mr. Cohen received Claxton and Pembroke, and will For concerning continue Phone liquidating

2. July 21, 1934 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, July 21, 1934

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Article Text

Weatherly Named Drought Consultant The appointment of B. Weathattorney cattle breeder Cochran, regional consultant for the relief division of the announced yesterday by W Sheets, director of the of Washington. Weatherly advise about in the southeast the drought relief program of the administration. BANK RECEIVER CHOSEN VIDALIA, July Wright, the First tional bank of this place and the First National bank Lyons, chosen receiver of the bank at Millen.