Union Commercial Bank (Norfolk, VA)

Episode Information

Episode UID
2866230291468
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
286623029 hash
Start Date
April 16, 1922
Location
Norfolk, Virginia (36.847, -76.285)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
979db41bd3d3c234

Response Measures

None

Description

Closed by state examiners and placed in receivership after alleged embezzlement by the cashier.

Events (3)
1. April 16, 1922 Receivership
Newspaper Excerpt
W. I. Gilkerson was appointed Friday as receiver. He qualified after giving bond for $20,000.
Source
newspapers
2. April 16, 1922 Suspension
Cause
Government Action
Cause Details
State bank examiners took control and closed the bank following discovery of alleged malfeasance by bank officers.
Newspaper Excerpt
State bank examiners have taken control of the Union Commercial Bank, of Norfolk
Source
newspapers
3. April 29, 1922 Other
Newspaper Excerpt
J. T. P. Cross, cashier of the bank, was arrested, charged with the embezzlement of $1,394.00.
Source
newspapers

Newspaper Articles (2)
1. April 16, 1922 Richmond Times-Dispatch Richmond, VA
Article from Richmond Times-Dispatch, April 16, 1922

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Article Text

Examiners Take Over Bank. State bank examiners have taken control of the Union Commercial Bank, of Norfolk, a negro Institution. and W. I. Gilkerson was appointed Friday as receiver. He qualified after giving bond for $20,000. J. H. T. Cross. cashier of the bank. who is charged with embezzlement of funds and with grand larceny. will to arraigned In the Norfolk Police Court on April 26.

2. April 29, 1922 The Chicago Whip Chicago, IL
Article from The Chicago Whip, April 29, 1922

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Article Text

Another Bank Goes Blooey In Norfolk NORFOLK, Va., April 29.-Following close on the heels of the Mutual Savings Bank here at Christmas, state bank examiners closed the doors of the Union Commercial Bank on Church Street, Thursday. A receiver was appointed and placed under $20,000 bond. J. T. P. Cross, cashier of the bank, was arrested, charged with the embezzlement of $1,394.00. The Union Commercial Bank opened in January of this year with S. P. Noble as president, with an authorized capital of $100,000. The state banking department is said to have advised against opening a new bank at that time.