First National Bank (Meridian, MS)

View Charter #2957 on SPMC View balance sheet

Episode Information

Episode Type
Suspension → Closure
Start Date
January 13, 1931
Location
Meridian, Mississippi (32.364, -88.704)
Bank Type
national
Charter Number
2957

Metadata

Episode ID
Bank ID
City ID
280673491
Model
gemini-3-flash-preview
Short Digest

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%

Notes

The bank closed Jan 13, 1931, and was later reorganized as the First National Bank in Meridian; the receivership date provided (Jan 26) is used for the event.

Events (4)
1. May 22, 1883 Chartered
Source
historical_nic
2. January 13, 1931 Suspension
Cause Details
The articles mention the closing date but do not specify the immediate cause of the suspension.
Newspaper Excerpt
Meridian bank which closed, January 13.
Source
newspapers
3. January 26, 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.
Source
newspapers
4. January 26, 1931 Receivership
Source
historical_nic

Newspaper Articles (2)
1. August 15, 1931 Hattiesburg American Hattiesburg, MS

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

2. August 17, 1931 Birmingham Post-Herald Birmingham, AL

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