First National Bank - Conyers, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11255
Charter Number: 11255
Start Date: December 9, 1927
Location: Conyers, Georgia (33.668, -84.018)

Metadata

Model: gpt-5-mini
Short Digest: 2b707138

Response Measures

None

Receivership Details

Depositor recovery rate: 37.3%
Date receivership started: 1925-05-12
Date receivership terminated: 1931-06-27
OCC cause of failure: Economic conditions
Share of assets assessed as good: 24.6%
Share of assets assessed as doubtful: 55.3%
Share of assets assessed as worthless: 20.0%

Description

Article (Dec 9, 1927) describes the First National Bank of Conyers as 'defunct' and refers to its receiver filing suit to recover assets. No explicit run is mentioned in the provided text; the bank is in receivership (permanently closed).

Events (3)

1. October 4, 1918 Chartered

Source: historical_nic

2. May 12, 1925 Receivership

Source: historical_nic

3. December 9, 1927 Receivership

Newspaper Excerpt: A suit in equity charging dereliction of duty to certain officers and directors of the defunct First National Bank of Conyers Ga., to recover $200,000 in alleged losses for the creditors was filed in district court here Thursday by E. F. Anderson, the bank's receiver.
Source: newspapers

Newspaper Articles (1)

1. December 9, 1927 The Macon News Macon, GA

Article from The Macon News, December 9, 1927

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Article Text

Bank Recovery Suit Is Started ATLANTA. Ga., Dec. 9. (P)-A suit in equity charging dereliction of duty to certain officers and directors of the defunct First National Bank of Conyers Ga., to recover $200,000 in alleged losses for the creditors was filed in district court here Thursday by E. F. Anderson, the bank's receiver. The suit named as defendants. Charles Gailey, the institution's president; Robert O. Gailey. vice president and a director. with H. A. Patrick. W. O. Mann. J. R. Sammons and A. F. Walker, all of Conyers; T. Calloway, of LaGrange, and S. S. Elliott, of Swainsboro. Approved claims outstanding against the bank aggregate more than $215,000. the pteition states: several months ago Mr. Anderson filed similar suit in federal court here seeking to recover monies from directors of the First National Bank of Covington, Ga.