3080. Toccoa Banking Company (Toccoa, GA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 20, 1911
Location
Toccoa, Georgia (34.577, -83.332)

Metadata

Model
gpt-5-mini
Short Digest
77cd61b6

Response Measures

None

Description

Contemporary newspaper reports (Apr 20–21, 1911) state the Toccoa Banking Company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans. No mention of a depositor run or of reopening/receivership in these clippings; I classify as suspension_closure because the bank was forced to suspend and no reopening is reported, but there is uncertainty because no explicit receiver assignment or permanent-closure language appears in these excerpts.

Events (1)
1. April 20, 1911 Suspension
Cause
Local Shock
Cause Details
Failure (default) of local milling companies to which the bank had made heavy loans; these loan losses forced suspension.
Newspaper Excerpt
the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.
Source
newspapers

Newspaper Articles (2)
1. April 20, 1911 Fitzgerald Enterprise Fitzgerald, GA
Article from Fitzgerald Enterprise, April 20, 1911

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Article Text

Treasurer Not Responsible. Atlanta, Ga. April 20-According to an official statement given out Wednesday at the office of the state treasury in Atlanta their skirts are clear of any responsibility in the recent embarassment of the Toccoa Banking Company of Toccoa. From information received at the capitol it is understood that the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.

2. April 21, 1911 The Brunswick News Brunswick, GA
Article from The Brunswick News, April 21, 1911

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Article Text

Not Responsible. Atlanta, April 20.-According to an official statement given out Wednesday at the office of the state treasury in Atlanta their skirts are clear of any responsibility in the recent embarassment of the Toccoa Banking company, of Toccoa. From information received at the capitol it is understood that the Toccoa Banking company was forced to suspend business on account of the failure of some local milling companies to which it had made heavy loans.