First National Bank (Meridian, MS)

Episode Information

Episode UID
295701573
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
29570 national
Charter Number
2957
Start Date
January 13, 1931
Location
Meridian, Mississippi (32.364, -88.704)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
62d661e102620e4b

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1931-01-26
Date receivership terminated
1932-07-15
OCC cause of failure
Governance
Share of assets assessed as good
69.7%
Share of assets assessed as doubtful
18.3%
Share of assets assessed as worthless
12.0%

Description

Some trust accounts remained with the receiver and had to be liquidated separately.

Events (5)

1. May 22, 1883 Chartered
Source
historical_nic
2. January 13, 1931 Suspension
Cause
Government Action
Cause Details
Bank closed January 13 and was placed in receivership; closure led by regulatory/administrative action
Newspaper Excerpt
which closed, January 13
Source
newspapers
3. January 26, 1931 Receivership
Source
historical_nic
4. August 15, 1931 Receivership
Newspaper Excerpt
Appointment of Louis G. Selig, receiver for the Commercial National Bank as receiver for the First National Bank of Meridian was made known here today. Mr. Selig ... succeeded C. P. Rogers as receiver for the Meridian bank which closed, January 13.
Source
newspapers
5. August 15, 1931 Reopening
Newspaper Excerpt
This-bank has been reorganized under the name of First National Bank of Meridian and is now operating as a going concern.
Source
newspapers

Newspaper Articles (2)

Article from Hattiesburg American, August 15, 1931

Click image to open full size in new tab

Article Text

LOUIS G. SELIG MADE RECEIVER Will Act in Capacity for Bank at Meridian Besides His Duties in Hub Appointment of Louis G. Selig, receiver for the Commercial National Bank as receiver for the First National Bank of Meridian was made known here today. Mr. Selig, who is residing in Hat- tiesburg while operating the local receivership succeeded C. P. Rogers as receiver for the Meridian bank which closed, January 13. Mr. Rogers has been transferred to Philadelphia, Pa., as receiver for a banking house there. In commenting upon his appointment, Mr. Selig explained carefully the present status of the receivership of the First National Bank of Meridian. This-bank has been reorganized under the name of First National Bank of Meridian and is now operating as a going concern. A number of trust accounts however, which were involved in the closing of the First National Bank of Meridian were not taken over by the First National Bank in Meridian These accounts must be liquidated by a receiver functioning under the


Article from Birmingham Post-Herald, August 17, 1931

Click image to open full size in new tab

Article Text

PLANE VICTIM BURIED Miss Mary Oates, Killed In Crash, Is Laid To Rest At Dothan DOTHAN, Ala., Aug. uneral services for Miss Mary Alice Oates, 23. died in local hospital early Friday from injuries when the which she was flying with John Chalker and Dick day. held Friday Union Church near Headland with the Rev. M Truett Miss Oates survived by her fathand stepmother Mr. and Mrs. H. Oates one sister. Miss Lizzie Oates. and two brothers, Ralph and Edward Oates. all Tumbleton BANK RECEIVER NAMED Hattiesburg Agent To Take Over Affairs Of Meridian Institution HATTIESBURG Miss., Aug. Announcement has been made of the appointment of Louis Selig, receiver for the Bank, Hattiesburg, as receiver for the First National Bank of Meridian. Mr. Selig, who is residing in Hatthe tiesburg while operating the local receivership, succeeded P. Rogers as received for the Meridian Bank, which closed Jan. 13 has been transferred to Philadelphia, Pa., as receiver for a banking house