Cherokee Bank (Murphy, NC)

Episode Information

Episode UID
66071971582
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6607197 routing
Routing Number
66-0719
Start Date
October 1, 1931*
Location
Murphy, North Carolina (35.088, -84.035)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e6391eaa1855a67b

Response Measures

None

Events (2)
1. October 1, 1931* Receivership
Newspaper Excerpt
agreed to pay the bank's receiver $3,500
Source
newspapers
2. October 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed discovery of embezzlement, forgery and false entries by the cashier
Newspaper Excerpt
former cashier of the Cherokee bank here, which closed last October
Source
newspapers

Newspaper Articles (2)
1. May 10, 1932 Hickory Daily Record Hickory, NC
Article from Hickory Daily Record, May 10, 1932

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Article Text

Banker's Sentence By Court Suspended MURPHY, May cashier the Story, former here, which closed Cherokee bank today was under last October, three years suspended tence after pleaded guilty irregularities and agreed pay the bank's suspended Judge Stack after Story pleaded guilty to charges bezzlement, and making entries. His bondsmen ready paid the bank $9,880.

2. May 10, 1932 The Charlotte News Charlotte, NC
Article from The Charlotte News, May 10, 1932

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Article Text

Prison Term Of Ex-Banker Is Suspended Former Cashier Of Cherokee Bank Agrees To Pay Receivers $3,500 and Pleads Guilty. Murphy, M 10. (AP) J. B. Storey. former cashier of the Cherokee bank here, which closed last October, today was under three to five years suspended sentence after he pleaded guilty of numerous irregularities and agreed to pay the bank's receiver $3,500. The sentence was suspended by Judge A. M. Stack after Storey pleaded guilty to charges of embezzlement, forgery and making false entries. His bondsmen had already paid the bank $9,880.