Bank of Manteo - Manteo, NC

Episode Information

Episode UID: 66039071599
Episode Type: Suspension → Reopening
Bank Type: state
Bank ID: 6603907 routing
Routing Number: 66-0390
Start Date: March 1, 1933*
Location: Manteo, North Carolina (35.905, -75.669)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 314a1d65e4c69cb2

Response Measures

None

Description

The article confirms the bank suspended during the early 1930s banking holiday but reopened without loss to depositors.

Events (2)

1. March 1, 1933* Reopening

Newspaper Excerpt: No depositor has ever lost a penny in this Bank, including the early 1930's when all banks were suspended and many failed to re-open. The Bank of Manteo has steadily grown
Source: newspapers

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: National banking holiday of March 1933
Newspaper Excerpt: the early 1930's when all banks were suspended and many failed to re-open
Source: newspapers

Newspaper Articles (1)

1. December 11, 1959 The Coastland Times With Which Is Combined the Pilot and Herald of Belhaven and Swan Quarter Manteo, NC

Article from The Coastland Times With Which Is Combined the Pilot and Herald of Belhaven and Swan Quarter, December 11, 1959

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Article Text

# THE REAL FACTS ABOUT YOUR BANK OF MANTEO Chartered in 1907, the Bank of Manteo has been serving the people of Dare County for 52 years. No depositor has ever lost a penny in this Bank, including the early 1930's when all banks were suspended and many failed to re-open. The Bank of Manteo has steadily grown and increased its lending capacity. Many unfounded rumors have been circulated, but the facts are: That Willis Pearce, Cashier of the Bank of Manteo since 1937, will continue as an officer of the Bank. That there is no intent by the stockholders to sell out to any other bank. Profits made by the Bank of Manteo have stayed in Dare County: No dividends were paid to stockholders until 1946, and then only modest ones. The great majority of profits made by the Bank has always been added to surplus for the protection of depositors and increased lending capacity. The cashier and assistant cashier are the only salaried officers of this bank. Directors of the Bank receive no salary. Do not be misled by the idea that a new bank could make long-term home financing loans: No commercial bank in North Carolina, no matter how large, generally makes such loans. This type of financing is done by Building and Loan Associations and Insurance Companies. The Bank of Manteo makes all types of commercial bank loans, including personal installment loans, small boat loans, automobile loans, house construction and repair loans. The Bank of Manteo has faithfully tried never to refuse a "bankable loan." The owners of the Bank of Manteo are "Dare County Minded." The Bank of Manteo is not a closed corporation.