2994. Rockmart Bank (Rockmart, GA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
July 19, 1926
Location
Rockmart, Georgia (34.003, -85.042)

Metadata

Model
gpt-5-mini
Short Digest
c2c1f2e8

Response Measures

None

Description

Rockmart Bank was closed and placed in receivers' hands in July 1926 (listed among Georgia banks taken by receivers after the Bankers' Trust Co. failure) and is reported reopened Sept 14, 1926 as one of 15 banks resuming business. The closure appears to have been part of the chain failure associated with Bankers' Trust Co. of Atlanta rather than an isolated depositor run on Rockmart itself.

Events (3)
1. July 19, 1926 Receivership
Newspaper Excerpt
Four in Florida Shut; ... to which 15 were added Thursday and four more Friday morning, according to the state bank examiners. ... Rock Mart Bank, $30,000 and $412,989; ... in the hands of receivers in Georgia, to which 15 were added Thursday ... (indicating Rockmart placed in receivers' hands).
Source
newspapers
2. July 19, 1926 Suspension
Cause
Local Banks
Cause Details
Closed in the wave of failures following the collapse of the Bankers' Trust Co. of Atlanta and state receivership actions
Newspaper Excerpt
Rock Mart Bank, $30,000 and $412,989; ... 15 were added Thursday and four more Friday morning, according to the state bank examiners.
Source
newspapers
3. September 14, 1926 Reopening
Newspaper Excerpt
The 15 banks that have already been reopened are: ... Rockmart Bank.
Source
newspapers

Newspaper Articles (3)
1. July 21, 1926 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, July 21, 1926

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Article Text

# MORE BANKS IN GEORGIA CLOSE IN BIG CRASH Four in Florida Shut; Checks Refused ATLANTA, Ga., July 19. — Four Florida banks have closed their doors in addition to the long list of those in the hands of receivers in Georgia, to which 15 were added Thursday and four more Friday morning, according to the state bank examiners. An amazing state of affairs is disclosed by the listing of the banks' total resources and liabilities, illustrating the unsoundness of their financial dealings. Those made public Thursday are as follows: Taylor County Bank, resources $15,000, liabilities $224,679; Bank of Lyerly resources $15,000, liabilities $236,670; Bank of Cusetta, resources $15,000, liabilities $174,236; Rock Mart Bank, $30,000 and $412,989; Bank of Smyrna, $16,300 and $204,179, and a long list of others with similar small resources and immense liabilities. WASHINGTON, D. C., July 19. — Only by intercession of J. W. McIntosh, comptroller of the currency, have the eastern financial corporations of the big bankers agreed to take checks on Florida banks. They have previously been using stickers attached to their correspondence stating "We do not accept Florida checks."

2. September 14, 1926 Evening Star Washington, DC
Article from Evening Star, September 14, 1926

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Article Text

15 GEORGIA BANKS RESUME BUSINESS 12 Others to Reopen This Week as Independent Institutions, Official Says. By the Associated Press. ATLANTA. September 14.-Fifteen Georgia banks which were closed with the failure of the Bankers' Trust Co. of Atlanta, have re-opened as separate and independent institutions, and 12 others will be re-opened within the next week, State Banking Department officials here announced. The total resources of the reopened banks within the next week will be one-third of that of all the Georgia banks that closed this Summer, W. J. Davis. general agent for the State Banking Department. declared. The total resources of the closed banks. he pointed out. was $18,000,000. while that of the re-opened banks will be $6,000,000. The 15 banks that have already been reopened are: State Bank of Cochran. Bank of Hazelhurst. Bank of Stapleton. Rockmart Bank. Habershaw Bank of Clarkesville. Cornelia Bank. Demorest Branch of Cornelia Bank. Bank of Lulu. Merchants and Planters: Bank at Whigham. Exchange Bank at Sycamore, Bank of Adairsville. Farm ers and Merchants' Bank at Rebecca. Planters, Bank Pavo. Turner Coun tv Bank at Ashdown. and Lakewood Bank of Atlanta. The latter, while not a member of the Bankers' Trust Company chain. was forced to close on account of a run after the trust company's failure. Mr. Davis pointed out.

3. September 22, 1926 Imperial Valley Press El Centro, CA
Article from Imperial Valley Press, September 22, 1926

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Article Text

GOOD GEORGIA BANKS Three of the Georgia banks that suspended service when the Bankers Trust CO. of Atiana went into the hangs OI a receiver have opened their doors again, sound and ready IOr business. i ney are the Bank O Stapieton, the Tranters' bank of ravo and the ROCKmarc bank. 1 ney nave been declared in excellent conaction by state banking officiais. whetter one lives in Georgia, Maine, Washington, or parts in between, tms IS good news. Everytime a bank goes pau, Dig or little, in vitage or metropons, IL IS wau 10r the whose country in some degree. every Lime a Dank IS proved sound and strong, It IS good 101 everybouy. 1 ne nations business IS one vast stream. gaunefing strength irom every little brook, spreading were over snanows, rushing were with lorce through narrow deeps. every Dit affects every other bit.