Cherokee Bank (Murphy, NC)

Episode Information

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

Metadata

Episode ID
Bank ID
City ID
371013848
Model
gpt-5-mini
Short Digest

Events (2)
1. 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
2. October 1, 1931* Receivership
Newspaper Excerpt
agreed to pay the bank's receiver $3,500
Source
newspapers

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

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 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.