Mitchell County Bank - Camilla, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 1, 1916*
Location: Camilla, Georgia (31.231, -84.210)

Metadata

Model: gpt-5-mini
Short Digest: f551ba7f

Response Measures

None

Description

Article (dated 1916-08-02, dateline July 31) reports the Mitchell County Bank at Camilla 'closed down last week' and that stockholders decided to place the bank in the hands of a receiver. No run is mentioned; closure followed by receivership. Corrected OCR: 'Thamasville' likely dateline but bank is Camilla as stated.

Events (2)

1. July 1, 1916* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had impaired capital (~$22,000), liabilities ~$45,000, assets ~$65,000; collateral held by other banks to secure borrowed money and some loans now due, leading to closure.
Newspaper Excerpt: the Mitchell county bank at Camilla, which closed down last week
Source: newspapers

2. July 31, 1916 Receivership

Newspaper Excerpt: The Stockholders of the Mitchell county bank at Camilla ... have decided to put it into the hands of a receiver rather than to attempt to straighten out its affairs. ... state bank examiner, Arnold, was present and submitted his report of the condition of the bank
Source: newspapers

Newspaper Articles (1)

1. August 2, 1916 The Cordele Dispatch Cordele, GA

Article from The Cordele Dispatch, August 2, 1916

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Article Text

RECEIVER TO TAKE OVER CAMILLA BANK Thamasville, Ga., July 31.-The Stockholders of the Mitchell county bank at Camilla, which closed down last week, have decided to put it into the hands of a receiver rather than to attempt to straighten out its affairs. At a meeting of the stockholders state bank examiner, Arnold, was present and submitted his report of the condition of the bank and suggested the remedies necessary to rehabilitate it. The liabilities of the bank were shown to be about $45,000 and the assets about $65,000, making it appear solvent. The capital stock has been impaired to the extent of about $22,000. Practically all of the bank's collateral was held by other banks to secure borrowed money and some of these loans are now due..