Bank of Hephzibah - Hephzibah, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1915*
Location: Hephzibah, Georgia (33.314, -82.097)

Metadata

Model: gpt-5-mini
Short Digest: 2427fd8b

Response Measures

None

Description

Article (May 12, 1916) states the Bank of Hephzibah has been in the hands of a receiver for a year and four months and at the time of its failure there were cash assets of 65 cents. No run is mentioned; failure appears due to bank-specific malfeasance (officers borrowing without consent). I estimate the suspension/failure (receivership) began ~January 1915 based on the year and four months phrasing in May 1916.

Events (3)

1. January 1, 1915* Receivership

Newspaper Excerpt: The Bank of Hephzibah has been in the hands of a receiver for a year and four months. At the time of its failure there were cash assets of 65 cents.
Source: newspapers

2. January 1, 1915* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed after officers borrowed bank funds without board consent; at failure cash assets were only 65 cents.
Newspaper Excerpt: The Bank of Hephzibah has been in the hands of a receiver for a year and four months.
Source: newspapers

3. May 9, 1916 Other

Newspaper Excerpt: Foster P. Reynolds and R N Smith, president and cashier, respectively, of the Bank of Hephzibah, were indicted ... charged with a violation of the state banking laws.
Source: newspapers

Newspaper Articles (1)

1. May 12, 1916 Atlanta Semi-Weekly Journal Atlanta, GA

Article from Atlanta Semi-Weekly Journal, May 12, 1916

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Article Text

iwo BANK OFFICIALS ARE INDICTED BY GRAND JURY AUGUSTA, Ga., May 9.-Foster P. Reynolds and R N Smith, president and cashier, respectively, of the Bank of Hephzibah, were indicted Saturday by the Richmond county grand jury, charged with a violation of the state banking laws. The Bank of Hephzibah has been in the hands of a receiver for a year and four months. At the time of its failure there were cash assets of 65 cents. The specific charge against Reynolds and Smith is that they borrowed money from the bank without the consent of a majority of the directors.