Farmers Bank (Belhaven, NC)

Episode Information

Episode UID
66060871577
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6606087 routing
Routing Number
66-0608
Start Date
May 22, 1931
Location
Belhaven, North Carolina (35.540, -76.623)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9aa209919fe7d602

Response Measures

None

Description

Cashier arrested for misapplication/shortage led to bank closing and liquidation handled by other banks.

Events (2)
1. May 22, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier arrested for misapplication/shortage of about $15,000 leading to bank being ordered closed.
Newspaper Excerpt
Cashier of Belhaven Bank Held As Institution Closes.
Source
newspapers
2. July 15, 1931 Receivership
Newspaper Excerpt
liquidation of the affairs the Farmers Bank of Belhaven... has been carried by the Hood Bank. ... turned to the Greenville Bank and Trust Company
Source
newspapers

Newspaper Articles (2)
1. May 22, 1931 News and Record Greensboro, NC
Article from News and Record, May 22, 1931

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Article Text

BANKER IS ARRESTED Cashier of Belhaven Bank Held As Institution Closes. May bank today swore out warrants charging W. cashier. and the Farmers Bank of Belhaven, with and misapplicaof of the total resources of The bank was ordered closed. Justus arrested and his bond was fixed preliminary He to post taken to the county jail Haynes could not Michael Wiggins and B. Carson. the Justus as mitting there was shortage Washington Justus said the shortage was about $15,000. The bank was capitalized at $30,000. Its report of condition to the state banking department on its resources at $150,104 with deposits of 894,687.

2. July 15, 1931 Washington Daily News Washington, NC
Article from Washington Daily News, July 15, 1931

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Article Text

BE OPENED IN BELHAVEN By Greenville Banking Institution Monday Morning July Twentieth The Greenville Bank and Trust Greenville, will open branch bank Monday July said J. M. Harrington, president of the Hood Bank, today In the bank opening in Belhaven Mr. Harrington branch-bank, opened in located buildformerly occupied by the Farmers Bank. liquidation of the affairs the Farmers Bank of Belhaven, has carried by the Hood Bank. been on The ement was turned to the Greenville Bank and Trust Company E. Flannagan is president of the Greenville Bank Trust Company and W. H. Woolard, of Robersonville, and formerly of this city, is vice sident. Edwards, of Grimesland, who has been connected with the Greenville Bank and Trust Company for some time will act cashier the Branch bank in Belhaven for the time being. The directors of the new Bank Belhaven are planning formal opening Monday morning July 20th., the citizens of Belhaven cordially invited to attend.