First National Bank - Millen, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9088
Charter Number: 9088
Start Date: March 1, 1934*
Location: Millen, Georgia (32.804, -81.949)

Metadata

Model: gpt-5-mini
Short Digest: 58469916

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1934-06-26
Date receivership terminated: 1937-07-17
Share of assets assessed as good: 60.1%
Share of assets assessed as doubtful: 30.3%
Share of assets assessed as worthless: 9.6%

Description

Articles state the First National Bank of Millen was closed by presidential edict in March 1934 and a receiver was later appointed (July 1934). No run is described. Cause of suspension is government action; bank was placed in receivership/liquidation.

Events (5)

1. April 1, 1908 Chartered

Source: historical_nic

2. March 1, 1934* Suspension

Cause: Government Action
Cause Details: Closed by presidential edict in March 1934 (government action leading to suspension)
Newspaper Excerpt: which institution was closed presidential edict March and has been unable ...
Source: newspapers

3. June 26, 1934 Receivership

Source: historical_nic

4. July 3, 1934 Receivership

Newspaper Excerpt: Cohen has been named for the First National Bank of Millen ... Mr. Cohen ... liquidating and later: chosen receiver of the bank at Millen. (reported July 1934).
Source: newspapers

5. July 21, 1934 Other

Newspaper Excerpt: Wright... chosen receiver of the bank at Millen.
Source: newspapers

Newspaper Articles (2)

1. July 3, 1934 The Macon Telegraph Macon, GA

Article from The Macon Telegraph, July 3, 1934

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Article Text

Kappa Alphas Hold Meeting at Tavern Members the Macon Alumni chapter the Kappa Alpha fraternity held their regular only: x-Daily except yesterday at the Hotel Dempsey Tavern. John Georgia Railroad president, conducted business Arrives session. Tentative plans were made to entertain Macon Kappa Alphas Macon, Dublin & Sav. R. dinner at the Tavern one night Arrives next pointed chairman of the on Southern Railway System Arrives From Leaves BANK RECEIVER APPOINTED and points MILLEN Ga., July Cohen has been named for the First National Bank of Millen 1:20pm which institution was closed presidential edict March and has been unable Mr. Cohen received Claxton and Pembroke, and will For concerning continue Phone liquidating

2. July 21, 1934 The Macon Telegraph Macon, GA

Article from The Macon Telegraph, July 21, 1934

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Article Text

Weatherly Named Drought Consultant The appointment of B. Weathattorney cattle breeder Cochran, regional consultant for the relief division of the announced yesterday by W Sheets, director of the of Washington. Weatherly advise about in the southeast the drought relief program of the administration. BANK RECEIVER CHOSEN VIDALIA, July Wright, the First tional bank of this place and the First National bank Lyons, chosen receiver of the bank at Millen.