Georgia National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6525
Charter Number: 6525
Start Date: January 25, 1926
Location: Athens, Georgia (33.961, -83.378)

Metadata

Model: gpt-5-mini
Short Digest: 6ed3f033

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1925-04-17
Date receivership terminated: 1937-06-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 59.0%
Share of assets assessed as doubtful: 22.9%
Share of assets assessed as worthless: 18.0%

Description

Articles describe the Georgia National Bank being in receivership and its receiver ordered to turn assets over to the Georgia Securities Company (comptroller/judicial action). No run is mentioned. Final dividend payments by receivers are reported in 1932, indicating the bank remained closed and in receivership (permanent closure).

Events (5)

1. December 9, 1902 Chartered

Source: historical_nic

2. April 17, 1925 Receivership

Source: historical_nic

3. January 25, 1926 Receivership

Newspaper Excerpt: receiver of the Georgia National bank at Athens ... the receiver ... to the Georgia Securities company While currently reported that the objectors would take exception ... Representative Brand urged upon the comptroller the acting without delay, the had made the that he would not the assets the bank the holding during the within which an appeal might be taken by the objectors.
Source: newspapers

4. January 25, 1926 Suspension

Cause: Government Action
Cause Details: Comptroller/judicial action: receiver authorized/directed to turn over assets to Georgia Securities company (receiver in place).
Newspaper Excerpt: Receiver Ordered to Turn Assets To Securities Company ... the receiver of the Georgia National bank at Athens, has been authorized and directed to turn over the assets ... to the Georgia Securities
Source: newspapers

5. March 29, 1932 Receivership

Newspaper Excerpt: A dividend approximating $44,000 was being distributed Tuesday to depositors of the Georgia National Bank by receivers. The payment is the final dividend to be made by Mrs. Alvie Hill, who succeeded E. F. Anderson, under whose receivership 10 per cent dividend was paid depositors.
Source: newspapers

Newspaper Articles (4)

1. January 26, 1926 The Atlanta Constitution Atlanta, GA

Article from The Atlanta Constitution, January 26, 1926

Click image to open full size in new tab

Article Text

Athens Bank Receiver Ordered to Turn Assets To Securities Company Washington, January 25 (Special Representative Brand of has obtained from the whereby of the Georgia National bank at Athens, has been authorized and directed to turn over the assets bank the Georgia Securities which holding company formed of Judge Brand had with the the days ago that such authority be granted and such direction be given to the receiver. These the unauthority of Judge Grubbs. Birmingham. who the in 28, when he the ceiver the of the Georgia National bank to the Georgia Securities company While currently reported that the objectors would take excepof Judge Grubb. Representative Brand urged upon the comptroller the acting without delay, the had made the that he would not the assets the bank the holding during the within which an appeal might be taken by the objectors. unless ordered by the comptroller do so.

2. March 29, 1932 The Valdosta Daily Times Valdosta, GA

Article from The Valdosta Daily Times, March 29, 1932

Click image to open full size in new tab

Article Text

DISTRIBUTED ATHENS, Ga. March 29 dividend approximating $24,was being distributed today depositors the Georgia National bank by receivers. The payment is the final dividend Hill succeeded Anderson under whose cent dividend paid

3. March 29, 1932 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, March 29, 1932

Click image to open full size in new tab

Article Text

Dividend of $44,000 By Georgia National ATHENS, Ga., March 29.-(P)-A dividend approximating $44,000 was being distributed Tuesday to depositors of the Georgia National Bank by receivers. The payment is the final dividend to be made by Mrs. Alvie Hill, who succeeded E. F. Anderson, under whose receivership 10 per cent dividend was paid depositors. Tuesday's payments amount to 4 per cent. Dividend payments in the future will be paid by the Georgia Securities which controls that part of the assets of the bank which were not retained under jurisdiction of the receiver.

4. March 30, 1932 The Atlanta Constitution Atlanta, GA

Article from The Atlanta Constitution, March 30, 1932

Click image to open full size in new tab

Article Text

Georgia News Told in Brief Port News. March 29. Arrived: City of Birmingham, Boston and New York; Coldwater, CharlesSailed: Atlantian, Br., Liverpool via $44,000 Dividend Paid. ATHENS, Ga., March dividend $44,000 was being distributed today to depositors the Georgia National bank by receivers. The payment is the final dividend to be made by Mrs. Alvie Hill, succeeded Anderson, under whose 10 per cent dividend was paid depositors. The payments amount to 4 per cent. New Yorker Critically III. Ga., March 29. Alvah K. Lawrie, of New York, critically ill with umonia at his winter Boxhall Plantation, two from where he and his family have been for several Grain for Macon Needy. MACON, March alof 741,696 pounds of flour has been made Macon from the grain stabilization corporation for tribution among the needy. Official notification of the grant was received by Usher T. Winslett, chairman of the Macon chapter of the Red Cross and general chairman of the central distributing committee. $100 for Storm Relief. ROME, Ga., March $100 bill was added to funds of the Complete with shade local Red Cross chapter Tuesday for relief of storm sufferers by an anonymous The ibutor mailed it with an unsigned note stating many blessings had been bestowed the sender "and want to do something in return for someone else.' Freed Under $5,000 Bond. SA Ga. March (AP) Henry Shoenfield, the third man sought locally by federal authorities in connection with an alleged automobile theft ring, furnished $5,000 bond today before United States commissioner. Shoenfield and the two others under bond for alleged violation of the national motor vehicle theft act, Ben Blumberg and Israel Goldberg. will be given hearing in court Friday morning at 10 o'clock.