2609. Toccoa Banking Company (Toccoa, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 20, 1911
Location
Toccoa, Georgia (34.577, -83.332)

Metadata

Model
gpt-5-mini
Short Digest
8e2d41d0cb1100db

Response Measures

None

Description

Two contemporary articles (Apr 20–21, 1911) state the Toccoa Banking Company was forced to suspend business because some local milling companies to which it had made heavy loans failed. No mention of a depositor run, reopening, or receivership in these items; however the language implies a serious suspension likely leading to failure. I classify cause as bank-specific adverse loans to local firms. Date taken from article dateline Apr 20, 1911.

Events (1)
1. April 20, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure of local milling companies to which the bank had made heavy loans, forcing the bank to suspend business.
Newspaper Excerpt
the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.
Source
newspapers

Newspaper Articles (2)
1. April 20, 1911 Fitzgerald Enterprise Fitzgerald, GA
Article from Fitzgerald Enterprise, April 20, 1911

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Article Text

Treasurer Not Responsible. Atlanta, Ga. April 20-According to an official statement given out Wednesday at the office of the state treasury in Atlanta their skirts are clear of any responsibility in the recent embarassment of the Toccoa Banking Company of Toccoa. From information received at the capitol it is understood that the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.

2. April 21, 1911 The Brunswick News Brunswick, GA
Article from The Brunswick News, April 21, 1911

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Article Text

Not Responsible. Atlanta, April 20.-According to an official statement given out Wednesday at the office of the state treasury in Atlanta their skirts are clear of any responsibility in the recent embarassment of the Toccoa Banking company, of Toccoa. From information received at the capitol it is understood that the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.