Bullock County Bank - Union Springs, AL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 5, 1915
Location: Union Springs, Alabama (32.144, -85.715)

Metadata

Model: gpt-5-mini
Short Digest: ea201476

Response Measures

None

Description

Article (The Washington Herald, 1915-03-06) reports the Bullock County Bank was closed by state banking authorities on March 5, 1915. The suspension was caused by the bank's holdings of unnegotiable cotton notes (bad assets); authorities closed the bank and transferred deposits to the First National Bank of Union Springs. No run is mentioned.

Events (1)

1. March 5, 1915 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank held unnegotiable cotton notes (bad/illiquid assets) which led to suspension by state banking authorities.
Newspaper Excerpt: The Bullock County Bank of Union Springs, Ala., with a capital of $50,000 and deposits of $23,000, was closed today by State banking authorities and the deposits were transferred to the First National Bank of Union Springs. The suspension was brought about by holdings of unnegotiable notes on cotton.
Source: newspapers

Newspaper Articles (1)

1. March 6, 1915 The Washington Herald Washington, DC

Article from The Washington Herald, March 6, 1915

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Article Text

Alabama Bank Closes Doors. Montgomery, Ala., March 5.-The Bullock County Bank of Union Springs, Ala., with a capital of $50,000 and deposits of $23,000, was closed today by State banking authorities and the deposits were transferred to the First National Bank of Union Springs. The suspension was brought about by holdings of unnegotiable notes on cotton.