First Bank - Nashville, GA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 14, 1931
Location: Nashville, Georgia (31.207, -83.250)

Metadata

Model: gpt-5-mini
Short Digest: e79ed554

Response Measures

None

Description

Article (Valdosta Daily Times, 1931-01-14) reports the First Bank of Nashville (Ga.) failed to open its doors and that the affairs of this bank have been placed in the hands of the state banking authority. The text explicitly says there was no run on the bank whatsoever. OCR errors corrected (e.g., truncated phrases about state banking authority). The article gives no indication of reopening; placement with state banking suggests government intervention and likely closure/receivership, so I classify as suspension leading to closure.

Events (1)

1. January 14, 1931 Suspension

Cause: Government Action
Cause Details: Affairs placed in hands of state banking authority; bank failed to open its doors for business to 'protect depositors.'
Newspaper Excerpt: For the protection of its depositors, the affairs of this bank have been placed in the hands of the state banking
Source: newspapers

Newspaper Articles (1)

1. January 14, 1931 The Valdosta Daily Times Valdosta, GA

Article from The Valdosta Daily Times, January 14, 1931

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Article Text

Nashville Bank Closes Today To Protect Deposits Nashville, Ga., Jan. cial to The First Bank of Nashville failed to open its doors for business today. The following announcement placed on the doors of the bank this morning: "For the protection of its depositors, the affairs of this bank have been placed in the hands of the state banking It is believed that depositors will not lose any money as sult of the failure of the bank to open this morning. It claimed that the bank owes no borrowed money and has no notes rediscounted. There was no run the bank whatsoever. The First Bank of Nashville one of the oldest banking institutions in this section. Begun National Bank, the the First name was changed to the First Bank of Nashville several years ago. The officers of the bank are Carter, president: A. W. Patterson, vice Powell, cashier, and assistant cashier. Rutherford,