The bank failed in February 1914 alongside its parent institution, the Americus National Bank, due to the latter's insolvency and officer misconduct.
Events (3)
1.February 1, 1914*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closely allied with the Americus National Bank which failed due to missing cashier and alleged abstraction of funds.
Newspaper Excerpt
The affairs of the defunct Americus Trust and Savings Bank, which, with its parent institution, the Americus National, went to the wall in February last
Source
newspapers
+89 days
2.May 1, 1914*Receivership
Newspaper Excerpt
Judge Z. A. Littlejohn appointed W. P. Wallis receiver for the Americus Trust and Savings bank
Source
newspapers
+8 months
3.January 12, 1915Other
Newspaper Excerpt
The first dividend of ten per cent to depositors of the suspended Americus Trust and Savings Bank... was paid this afternoon by Receiver Dykes.
Source
newspapers
Newspaper Articles (14)
1.February 6, 1914Atlanta GeorgianAtlanta, GA
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Article Text
NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus National Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier. Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a. good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him. Depositors to Get 50 Per Cent. ENOIA, Feb. 6.-H. H. North, receiver of the Bank of Senoia, has announced that he will pay a 50 per cent dividend to depositors on Tuesday, February 10. The bank was closed one year ago. This will be the first dividend. Mr North is confident that depositors will be paid in full
2.February 7, 1914Atlanta GeorgianAtlanta, GA
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Article Text
NO TIDINGS FROM MISSING CASHIER Examiner Says It Will Take Several Weeks to Untangle Americus Bank's Affairs. AMERICUS, Feb. 6.-Assistant State Bank Examiner T. C. Dunlap, who has been appointed temporary receiver and who is at work on the tangled affairs of the Americus Na tional Bank, refuses to make a statement now, other than it will take probably several weeks to get at the bottom of the bank's failure. The Americus Trust and Savings Bank, an institution closely allied with the National Bank, doing business in the same building and having practically the same officers, is almost as hard hit as the National Bank, it seems. It had $30,000 on deposit. So far no tidings have been received from G. D. Wheatley, Jr., the missing assistant cashier, Many of his friends insist that he is near Americus. The general opinion is that Wheatley is involved no deeper than some others, and that if he will return and help straighten matters out, he will stand a good chance to clear himself of the charges that rumor has fixed on him. His father still stands steadfast in his declaration to stick to him.
3.May 12, 1914The Dawson NewsDawson, GA
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RECEIVER FOR AMERICUS BANK. Attorney General Will Take Steps at Direction of Governor. Attorney General Warren Grice has been directed by Governor Slaton to go to Americus and take steps looking to placing the Americus Trust and Savings Bank in the hands of a receiver. The bank was recently examined and an unfavorable report submitted to State Treasurer Speer. Therefore, Governor Slaton directed the attorney general to take action.
4.June 5, 1914The Dawson NewsDawson, GA
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Article Text
Receiver Is Named. Judge Z. A. Littlejohn appointed W. P. Wallis receiver for the Americus Trust and Savings bank, an offspring of the defunct Americus National, and prior to the closing of that bank operated by the same officers. The little savings bank was organized under a state charter, and had a capital stock of $15,000. Its deposit account, at the time of the closing of the national bank, was said to be about $13,000.
5.July 14, 1914Americus Times-RecorderAmericus, GA
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Notice. All persons holding accounts against the Americus Trust & Savings Bank will please bring their passbooks and make proof of same under oath. W. W. DKYES, Receiver. advt
6.July 21, 1914Americus Times-RecorderAmericus, GA
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Notice. All persons holding accounts against the Americus Trust & Savings Bank will please bring their passbooks and make proof of same under W. W. DKYES, oath. Receiver. advt
7.December 1, 1914The Dawson NewsDawson, GA
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JURY WILL INVESTIGATE WILL LOOK INTO AFFAIRS OF TRUST AND SAVINGS BANK. Was Run in Connection With the Americus National Bank. Was a State Institution. AMERICUS, Ga.-The affairs of the defunct Americus Trust and Savings Bank, which, with its parent institution, the Americus National, went to the wall in February last. are to be inquired into by the grand jurv now in session here in all likelihood. The savings bank was a state institution, operated under a charter from the state of Georgia, and it is clearly within the province of the superior court grand jury, now in session here, to investigate the failure of the bank. The failure of the national or parent bank was recently investigated by the United States court grand jury with the result that its cashier, M. M. Lowrey, and Assistant Cashiers Wheatley and Hawkins were indicted for alleged abstraction of funds and falsifying accounts. The state savings bank was a part and parcel of the national, and was operated under the same roof and by the same officers. It had a capital stock of $15,000 and deposits of probably $20,000, both of which seemed to have been wiped out to a great extent, in the wreck of the Americus National. W. W. Dykes, as receiver, has charge of the affairs of the little state bank which was largely absorbed by the big one.
8.January 12, 1915The Dawson NewsDawson, GA
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Article Text
DEPOSITORS GET FIRST DIVIDEND Receiver of the Suspended Bank of Americus Distributes 10 Per Cent Among Creditors. AMERICUS, Ga.--The first dividend of ten per cent to depositors of the suspended Americus Trust and Savings Bank, a department of the wrecked Americus National Bank, of which M. M. Lowrey was the directing genius, was paid this afternoon by Receiver Dykes. The deposits of the savings bank were approximately $18,000, and Receiver Dykes expects to make other dividend payments as assets realize. The depositors were principally women, children and people of slender means. Each of the suspended institutions have now paid first dividends of ten per cent. The indebtedness of the national bank exceeded $300,000 and creditors expect considerably less than 50 cents on the dollar. Stockholders lost their entire capital stock of $100,000 and were forced to pay in addition a like amount under the liability clause. The same officers operated both banks.
9.June 10, 1915Americus Times-RecorderAmericus, GA
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Beattie, and on the west by said Strife street." Levied on as the property of J. J. Simmons to satisfy Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, issued from the City Court of Americus, said county. Tenant in possession notified in terms of the law. This June 7th, 1915. Q. W. FULER, Sheriff, Sumter County.
10.June 10, 1915Americus Times-RecorderAmericus, GA
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ledge lot; and bounded as follows: On north by land formerly belonging to Chas. Cattledge Estate, east and south by land owned by Mrs. Lula F. Winchester, and on west by Davenport street." Levied on as the property of Lula Dowdell to satisfy Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, issued from the City Court of Americus, said county. Tenant in possesison notified in terms of the law This June 7th, 1915. Q. W. FULLER, Sheriff, Sumter County, Georgia.
11.June 19, 1915Americus Times-RecorderAmericus, GA
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chester, and on west by Davenport street." Levied on as the property of Lula Dowdell to satisfy Fi. Fa. in favor of W. W. Dykes, Receiver of the Americus Trust & Savings Bank, issued from the City Court of Americus, said county. Tenant in possesison notified in terr S of the law This June 7th, 1915. Q. W. FULLER, Sheriff, Sumter County, Georgia.
12.December 21, 1915Americus Times-RecorderAmericus, GA
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Other Bank Pays. A dividend of 20 per cent. is being paid to the depositors of the Americus Trust & Savings Bank, which failed at the time of the Americus National Bank. Receiver W. W. Dykes, of this bank, has mailed out the checks to the depositors. The dividend of 20 per cent. makes a total of 80 per cent. which has been paid to the depositors since the failure of the bank. It is learned that other dividends will be made in a short while in connection with the Americus Trust & Savings Bank, which will make the returns of the depositors realize the total amount of their loss.
13.June 15, 1916Americus Times-RecorderAmericus, GA
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COURT HOUSE NOTES The hearing in a case scheduled for this morning before Judge Littlejohn, involving the Americus Trust and Savit.gs Bank, was postponed because of the absence of Receiver W. W. Dykes, who is in St. Louis, attending the national democratic convention.
14.January 28, 1919Americus Times-RecorderAmericus, GA
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ty, in favor of W. W. Dykes, receiver of the Americus Trust and Savings Bank, against said Freeman Hightower, and Clara Hightower. Tenants in possession notified as required by law. This, the 6th. day of January, 1919. LUCIUS HARVEY, Sheriff, Sumter County, Georgia.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
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Americus Trust & Savings Bank · Episode ID 64010271370
