Habersham Bank - Clarkesville, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 15, 1926
Location: Clarkesville, Georgia (34.613, -83.525)

Metadata

Model: gpt-5-mini
Short Digest: 59c75fbd

Response Measures

None

Description

Article (dateline July 15, 1926) lists the Bank of Rochelle among numerous Georgia state banks that 'closed their doors' following bankruptcy proceedings involving Bankers Trust Company of Atlanta, which served as financier for a chain of banks. No run is described for Bank of Rochelle; the closure appears linked to failure/distress of a correspondent/financial backer.

Events (1)

1. July 15, 1926 Suspension

Cause: Correspondent
Cause Details: Closures followed bankruptcy proceedings involving Bankers Trust Company of Atlanta, the financial backer for a chain of banks; loss of correspondent/financier support led to the closing of state banks including Bank of Rochelle.
Newspaper Excerpt: The Georgia banks listed as closed ... Bank of Rochelle
Source: newspapers

Newspaper Articles (1)

1. July 16, 1926 The Miami Herald Miami, FL

Article from The Miami Herald, July 16, 1926

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Article Text

NAME BANK RECEIVERS Take Charge of Trust Company In Georgia Heading Chain; 19 More Banks Close. [BY THE ASSOCIATED PRESS.] TLANTA, July 15.-Fifteen addiA tional state banks In Georgia and four state banks in Florida tonight were listed as having closed their doors following bankruptcy proinstituted the ers Trust Company This brought the total number of banks closed In Georgia this week to 64. Receivers for the Bankers Trust Company named today. The finan cial circles attributed to the proceedings the trust company, which the financcompany for string of 120 chain banks. The four Florida banks were reported to have been of the system. Many banks, the department said, would as as other financing arrangements be made The Georgia banks listed as closed Taylor County Bank, Butler: Bank Lyerly, Bank Bank, Bank of Smyrna, Fairmount Bank, Macon Bank of OgleBank of Atlanta, Bank of Rochelle, Habersham Bank Clarkesville, Cornelia Bank Cornelia, Bank Lula, Bank Cassville, Bank of Williamson and the Cornelia Bank of Demarest. The four Florida banks closed were the Bank Eustis, Bank Bank and the Bank of Umatilla, each of which through posted on their doors announced that they temporarily for the proand K. Ottley of the Fourth Naof The Bank of Umatilla Tuesday inagainst Trust Company of Atlanta for more than $400,000. applying for receivfor Former Hugh M. Dorsey tional Bank of designated for the Bankers Trust Company The trust served as financial for 120 banks, Baker, its told court, but did not receive deposits subject to check.