First National Bank (Statesville, NC)

View Charter #3682 on SPMC View balance sheet

Episode Information

Episode UID
368201540
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
36820 national
Charter Number
3682
Start Date
April 1, 1928*
Location
Statesville, North Carolina

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
96b31a75051fa42e

Response Measures

None

Receivership Details

Depositor recovery rate
78.5%
Date receivership started
1933-01-27
Date receivership terminated
1941-04-14
Share of assets assessed as good
21.3%
Share of assets assessed as doubtful
50.0%
Share of assets assessed as worthless
28.7%

Description

Bank is described as having failed in April 1928; later story concerns the receiver's disappearance in 1932.

Events (4)
1. April 26, 1887 Chartered
Source
historical_nic
2. April 1, 1928* Receivership
Newspaper Excerpt
The bank failed in April, 1928.
Source
newspapers
3. December 5, 1932 Other
Newspaper Excerpt
an intensive search is being conducted for Earl W. Jones, receiver for the First National bank of Statesville, who mysteriously disappeared early Monday morning
Source
newspapers
4. January 27, 1933 Receivership
Source
historical_nic

Newspaper Articles (2)
1. February 14, 1930 The Greenville News Greenville, SC
Article from The Greenville News, February 14, 1930

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Article Text

Bank Of Chesnee In Examiner's Hands SPARTANBURG, Feb. The Bank of Chesnee, of Chesnee, 20 miles northwest of here placed its affairs in the hands of the state bank examiner at directors meeting at o'clock tonight. The institution lost a number of deposits when the Dollar Savings bank and the Carolina National bank of closed December 30, but the directors were able to restore confidence and stabilize matters until today when the failure of the Rutherford county banks and the American State bank at Gaffney. rendered the situation too acute for the Chesnee bank to continue operations. The deposits, at close of business yesterday, amounted to $228,793.26 showing decrease of about $106,000 since the published statement of December 31, 1929; capital stock of the bank was $50,000. surplus $20,000 and bills payable none.

2. December 9, 1932 The Greenville News Greenville, SC
Article from The Greenville News, December 9, 1932

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Article Text

BANK RECEIVER MISSING IN C. Disappears In Statesville Prior To Conference With Successor CHARLOTTE, N. C., Dec. (AP)-The Observer says "an intensive search" is being conducted for Earl W. Jones, receiver for the First National bank of Statesville, "who mysteriously disappeared early Monday morning" shortly before he was to confer with W. H. Spradlin, sent from Washington to relieve him. The comptroller of the currency has been notified of Jones' disappearance, the paper says, and has referred the matter to the Department Justice, which referred it to Charlotte bureau. The paper says Mrs. Jones believes her husband "has met with foul Jones was last seen, the story continues, about m. last Monday at filling station in Statesville where his automobile was filled with gasoline He was to have conferred at noon with Spradlin, the paper says, and nothing has been heard from him since. The bank failed in April, 1928. Jones Williams receiver upon the latter's death two years ago disappearance of Mr Jones has been kept in absolute secrecy while efforts were made to trace his automobile or until some information could be obtained that might lead to solution of the disappearance,' the story relates. Spradlin was quoted as saying he had "nothing to say" in regard to the matter.