Mechanics Savings Bank (Raleigh, NC)

Episode Information

Episode UID
66002871599
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6600287 routing
Routing Number
66-0028
Start Date
March 3, 1933
Location
Raleigh, North Carolina (35.772, -78.639)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
525aff7c7951f82e

Response Measures

None

Description

Articles identify the bank as in receivership and RFC loan authorizations were canceled/voided.

Events (3)
1. March 3, 1933 Receivership
Newspaper Excerpt
Mechanics Savings Bank (receiver) Raleigh
Source
newspapers
2. March 3, 1933 Suspension
Cause
Government Action
Cause Details
Bank is listed as a receiver case; suspended operations and placed in receivership by authorities
Newspaper Excerpt
Mechanics Savings Bank (receiver) Raleigh
Source
newspapers
3. June 2, 1933 Other
Newspaper Excerpt
The Mechanics Savings Bank (receiver), Raleigh, $23,000; ... eight loans ... withdrawn or cancelled
Source
newspapers

Newspaper Articles (4)
1. March 3, 1933 The Salisbury Post Salisbury, NC
Article from The Salisbury Post, March 3, 1933

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Article Text

Institutions Get More Than A Million From Mar aggregating more than one million dollars authorized for North Carolina institutions the Reconstruction Finance Corporation The list: Cumberland National Bank of Fayetteville (receiver). Gaston Loan Trust Gas$7,000; United Bank Trust Company Bank Davie, Mocksville, $9,000 Bank Mt. Mt. Airy, Bank Mount Gilead, Mount Gilead, $6,000; Bank Old Fort Old $8,500; Mechanics Savings Bank (receiver) Raleigh, the Peoples Bank, Roxboro, $25,000; the First National Bank of Shelby, Citizens Bank Spring Hope, $12,000; Farmers and Merchants Bank. Stanley, Peoples Loan and Savings Bank. ville, $15,000; Atlantic Joint Stock Land Raleigh, $400,000; the North Carolina Joint Land Bank of $206,000; High Point Perpetual and Loan Association, High Point, loan authorfor Bank of was cancelled by the bank.

2. March 4, 1933 The News and Observer Raleigh, NC
Article from The News and Observer, March 4, 1933

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Article Text

Amount For January Something Over One Million Dollars Washington, March (AP) Loans aggregating more than one million dollars North Carolina institutions by Reconstruction Finance Corporation January. The Cumberland National Bank Fayetteville (receiver), Gaston Trust $7,000; United Bank Company Greensboro, Bank Davie, $9,000 $10,000; Bank Mount Airy, Mount Airy, $60,000; Bank Mount Gilead, Mount Gilead, $6,000; Bank Fort (receiver), Old Fort, $8,500; Mechanics Savings Bank (receiver), Raleigh, The People's Bank, Roxboro, $25,000; The First National Bank Shelby, Shelby, $50,000; Citizens Bank (reSpring Hope, Farm and Bank, Stanley, People's Loan Savings Bank, Statesville, $15,000; Atlantic Joint Land Bank. $400,000: North Carolina Stock Land Bank Durham, High Point Building Association, High Point, loan previously author. Bank of Huntersville, Huntersville, was cancelled by the bank.

3. June 2, 1933 The Durham Sun Durham, NC
Article from The Durham Sun, June 2, 1933

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Article Text

anics Savings bank (receiver) of Ra. leigh. Bank of Rich Square Rich Square, $7,500: First National Bank Shelby, $100,000 the Union Trust company, tional Bank and Trust company,

4. June 3, 1933 The News and Observer Raleigh, NC
Article from The News and Observer, June 3, 1933

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Article Text

EIGHT LOANS WITHDRAWN OR VOIDED Washington, June 2.-Announcement made today that eight loans authorized for as many banks North the Reconstruetion Finance Corporation in April had withdrawn or cancelled as follows: Citizens bank (receiver), of Spring Hope, the Champion Bank Trust Canton, $15,000; The Bank of French Broad, Mar $15,000; The Mechanics Sav ings Bank (receiver), Raleigh, $23,000; The Bank of Rich Square, Rich Square, $7,500; The First National Bank Shelby, $100,000; The Union Trust Company, Shelby, $60, 000; The Farmers National Bank and Trust Company, of WinstonSalem, $32,000.