First National Bank - Thomasville, GA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 3767
Charter Number: 3767
Start Date: July 23, 1932
Location: Thomasville, Georgia (30.839, -83.979)

Metadata

Model: gpt-5-mini
Short Digest: 540145fb

Response Measures

Full suspension

Other: Comptroller of the Currency placed the bank in his hands and will appoint a receiver; liquidation to follow.

Receivership Details

Depositor recovery rate: 59.1%
Date receivership started: 1932-07-27
Date receivership terminated: 1937-05-18
Share of assets assessed as good: 29.8%
Share of assets assessed as doubtful: 46.0%
Share of assets assessed as worthless: 24.2%

Description

Article (Tallahassee Democrat, 1932-07-26) reports the First National Bank of Thomasville closed Saturday and the comptroller's representative is handling affairs with a receiver to be appointed. It also says there had been a quiet run on the bank for some time and deposits dwindled. Closure is by federal action (comptroller), so classified as run leading to suspension/closure with receivership.

Events (5)

1. July 30, 1887 Chartered

Source: historical_nic

2. July 23, 1932 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency took charge and appointed a receiver; bank closed and to be liquidated under federal supervision.
Newspaper Excerpt: THOMASVILLE BANK CLOSES ITS DOORS ... the affairs of that institution are in the hands of Giles, representing the comptroller general of the United States ... appoints receiver to handle the bank's affairs, which be carried to liquidation under his direction.
Source: newspapers

3. July 26, 1932 Receivership

Newspaper Excerpt: the affairs of that institution are in the hands of Giles, representing the comptroller general of the United States ... They will be in charge until the comptroller of the currency at Washington appoints receiver to handle the bank's affairs, which be carried to liquidation under his direction .
Source: newspapers

4. July 27, 1932 Receivership

Source: historical_nic

5. * Run

Cause: Bank Specific Adverse Info
Cause Details: Sustained withdrawals over time as deposits dwindled, indicating bank-specific distress prior to closing.
Newspaper Excerpt: There had been quiet run on the bank for some time before closed its doors, and the deposits had dwindled to a low ebb.
Source: newspapers

Newspaper Articles (1)

1. July 26, 1932 Tallahassee Democrat Tallahassee, FL

Article from Tallahassee Democrat, July 26, 1932

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Article Text

THOMASVILLE BANK CLOSES ITS DOORS Affairs First National in Uncle Sam's Hands July 26. (Special to the lowing the closing of the First National bank here Saturday afternoon, the of that institution are in the hands of Giles, representing the comptroller general of the United States. Turner Rice. jr., of the federal banking department is also here assisting Mr. Giles. They will be charge until the comptroller of the currency at Washington appoints receiver to handle the bank's affairs, which be carried to liquidation under his direction. The First National was one of the oldest banks in this section of the state, and for many years the only national bank in the confines of Thomas county. was in its year of operation. There has been very little reaction since the failure of the bank Saturday. No fear is expressed for any other institution. Thomasville now has two banks. There had been quiet run on the bank for some time before closed its doors, and the deposits had dwindled to a low ebb.