2918. National Bank (Lumpkin, GA)

View Charter #12254 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
12254
Charter Number
12254
Start Date
December 1, 1929*
Location
Lumpkin, Georgia (32.048, -84.798)

Metadata

Model
gpt-5-mini
Short Digest
5f882857

Response Measures

None

Receivership Details

Depositor recovery rate
17.2%
Date receivership started
1929-12-07
Date receivership terminated
1933-09-01
Share of assets assessed as good
50.3%
Share of assets assessed as doubtful
35.4%
Share of assets assessed as worthless
14.3%

Description

The National Bank of Lumpkin closed in December 1929 and a receiver (Albert F. McCook) was appointed to wind up affairs. No contemporaneous newspaper text mentions a depositor run; the bank remained defunct with receivers appointed and later successor receiver named. McCook's later embezzlement and conviction (1931) are reported but do not indicate the bank reopened.

Events (5)
1. September 27, 1922 Chartered
Source
historical_nic
2. December 1, 1929* Receivership
Newspaper Excerpt
McCook took charge of the defunct Lumpkin bank in December, 1929. ... McCook named receiver few later. Since that time he has been staying at Lumpkin for purpose winding up the affairs of the bank. Vann, receiver of bank at Eufaula, ... has been named receiver of the Lumpkin bank successor to McCook according to information received here.
Source
newspapers
3. December 1, 1929* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed in December 1929 (failure/insolvency indicated); receiver appointed to wind up affairs.
Newspaper Excerpt
it recalled that the National Bank of Lumpkin closed and business in December. 1929
Source
newspapers
4. December 7, 1929 Receivership
Source
historical_nic
5. July 1, 1931 Other
Newspaper Excerpt
Albert McCook, former receiver of the National Bank of Lumpkin, was sentenced today to serve two years in the federal prison on charge of embezzling funds in his charge. The government charged he took more than $3,000 from the bank after he had been made its receiver.
Source
newspapers

Newspaper Articles (8)
1. May 12, 1931 The Columbus Ledger Columbus, GA
Article from The Columbus Ledger, May 12, 1931

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Article Text

BANK RECEIVER IN JAIL HERE Albert F. McCook Charged With of Funds of National Bank of Lumpkin. receiver the National Bank Lumpkin. Albert F. McCook of Cad. placed under arrest at Lumpkin Monday afternoon and brought to Columbus by Deputy U. Marshal Gordy. Prosecu for in the is Richard W. Goodbank On being carried before Judge N McCook waived preliminary examination and ordered held under bond $5,000 to federal grand here that be convened jury September. Early Tuesday afternoon he had not furnished the bond still held in the MusHis shortage is said to around It recalled that the tional Bank of Lumpkin closed and business in De cember. 1929 and McCook named receiver few later. Since that time he has been staying at Lumpkin purpose winding up the affairs of the bank. Vann, receiver of bank at Eufaula, that closed months age, has been named receiver of the Lumpkin bank successor to McCook according to information received here.

2. July 1, 1931 The Chattanooga News Chattanooga, TN
Article from The Chattanooga News, July 1, 1931

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Article Text

Former Bank Receiver Sentenced for Embezzlement Macon, Ga., July 1-(A. P. Albert McCook, former receiver of the National Bank of Lumpkin, was sentenced today to serve two years in the federal prison on charge of embezzling funds in his charge. The government charged he took more than $3,000 from the bank after he had been made its receiver.

3. July 1, 1931 The Richmond News Leader Richmond, VA
Article from The Richmond News Leader, July 1, 1931

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Article Text

Ga. Bank Receiver Gets Term MACON, F. former receiver of National Bank of Lumpkin, today to serve in the federal of funds his The government more than from bank ter he made its

4. July 1, 1931 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, July 1, 1931

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Article Text

FORMER RECEIVER GIVEN TWO YEARS McCook Pleads Guilty to Charge of Embezzlement MANY INDICTED BY JURY Indicted by a federal grand jury yesterday morning, Albert F. McCook, national bank receiver, appeared immediately before Federal Judge Bascom S. Deaver, admitted he had embezzled $3,811 from the National Bank of Lumpkin, and was sentenced to serve two years in the federal penitentiary Thus, his first assignment as national bank receiver ended. Mc. Cook, resident of Cadwell, in Laurens county, took charge of the defunct Lumpkin bank in December, 1929. Early in 1930, his embezzlements began, United States Attorney W. A. Bootle told the court yesterday. A delegation of Laurens county citizens, including three attorneys, appeared before Judge Deaver to urge leniency. The attorneys were J. E. Burch C. G. Bidgood, and H. L. Taylor. They said they came as friends and not as attorneys. They described McCook as 'gentleman of the highest caliber," but McCook made no statement. Judge Deaver Comments Mr. Bootle said he had been informed that the defaulting receiver, the father of seven children, had spent much of the embezzled funds on women. This was denied by the delegation, members of which stated he had spent in the operation of a farm belonging to his father's estate. Judge Deaver commented before passing sentence that "a receiver of a bank should perhaps be held to more strict accounting than the officers of the institution.' McCook has been in the Muscogee county jail since May. He was transferred to the Bibb county jail Monday. The same grand jury which indicted McCook returned 62 other indictments, 55 of which charged violations of the national prohibition act. The body was called in special session Monday morning Its work was completed at 11 o'clock yesterday morning.

5. July 2, 1931 Evening Star Washington, DC
Article from Evening Star, July 2, 1931

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Article Text

# Receiver Sentenced. MACON, Ga., July 2 (AP).-Albert F. McCook, former receiver of the Na-tional Bank of Lumpkin, was sentenced today to two years in the Federal prison on a charge of embezzling funds in his charge. The Government charged he took more than $3,000 from the bank after he had been made its receiver.

6. July 2, 1931 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, July 2, 1931

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Article Text

FORMER BANK RECEIVER SENTENCED FOR THEFTS MACON. Ga., July 1 (P).-Albert F. McCook. former receiver of the National Bank of Lumpkin. was sentenced today to serve two years in the federal prison on charge of embezzling funds in his charge

7. July 2, 1931 The Herald-Sun Durham, NC
Article from The Herald-Sun, July 2, 1931

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Article Text

GEORGIA BANK RECEIVER GIVEN TERM IN PRISON Ga. July McCook former receiver of National Bank of Lumpkin. sentenced today to serve years in the federal prison of funds his The government charged he than from the after had

8. July 7, 1931 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, July 7, 1931

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Article Text

HOLT AND M'COOK TO BEGIN TERMS Former Bank Head Is Taken to S. Reformatory EX-RECEIVER GOES TO PEN Lake Ben Holt. former president of chain banks bearing his and Albert mer bank will today begin imposed United district court for irregularities in the conduct Albert former receiver the National Bank Lumpkin, taken the federal penitentiary in Atlanta today begin servhis two-year sentence confessed embezzlement from the for he was reYesterday afternoon Lake Ben Holt. former president the defunct First National Bank Sandersville and head of chain taken to the United States Industrial reformatory in Chillicothe, begin ice an sentence for violation of the national banking McCook pleaded guilty several days before Judge Bascom S. (Continued on Last Page)