First National Bank (Royse City, TX)

View Charter #6551 on SPMC View balance sheet

Episode Information

Episode UID
655101562
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
65510 national
Charter Number
6551
Start Date
February 7, 1930
Location
Royse City, Texas (32.975, -96.332)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fd245e8fe489af68

Response Measures

None

Receivership Details

Depositor recovery rate
63.5%
Date receivership started
1930-02-11
Date receivership terminated
1934-07-31
OCC cause of failure
Governance
Share of assets assessed as good
34.5%
Share of assets assessed as doubtful
26.7%
Share of assets assessed as worthless
38.8%

Description

Bank closed and placed in hands of an examiner after cashier Mack Sorrells was found shot; longer-term disposition not reported here.

Events (3)
1. December 23, 1902 Chartered
Source
historical_nic
2. February 7, 1930 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in hands of an examiner following the death (shot) of cashier Mack Sorrells; examiner G. C. Hedrick announced investigation.
Newspaper Excerpt
Operation of the First National bank at Royse City has been suspended and the bank is in the hands of an examiner, examiner G. C. Hedrick announced late today.
Source
newspapers
3. February 11, 1930 Receivership
Source
historical_nic

Newspaper Articles (3)
1. February 9, 1930 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, February 9, 1930

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Article Text

Bank Operations In Royse City Suspended GREENVILLE, Feb. 8-(P)- Operation of the First National bank at Royse City has been suspended and the bank is in the hands of an examiner, examiner G. C. Hedrick announced late today. The bank was closed Friday, presumably because of the death of cashier Mack Sorrells, found shot to death at his home early Friday morning. Deposits were paid to total $185,000.

2. February 9, 1930 Lubbock Avalanche-Journal Lubbock, TX
Article from Lubbock Avalanche-Journal, February 9, 1930

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Article Text

BANK IS SUSPENDED Institution Closed Official Found Dead Feb. ation the First National bank Royse City has been suspended and the bank the hands of an aminer. Examiner Hedrick nounced late today. The bank closed Friday. because the death of Cashier Mack rells. found shot to death his home early Friday morning.

3. February 10, 1930 Corsicana Daily Sun Corsicana, TX
Article from Corsicana Daily Sun, February 10, 1930

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Article Text

Affairs of Closed Royse City Bank Are Still Being Probed fairs of the First National Bank at Royse City still were under investigation by Examiner G. C. Hedrick, today. The bank closed Friday, presumably because of the death of Cashier Mack Sorrels, found shot to death at his home early Friday. No statement was made Saturday after a directors' meeting, attended by Dr. V. Balley of Dallas and A. L. Liscomb of North Zulch.