National Bank of Snow Hill (Snowhill, NC)

Episode Information

Episode UID
66081471585
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
trust
Bank ID
6608147 routing
Routing Number
66-0814
Start Date
January 1, 1932
Location
Snowhill, North Carolina (34.104, -78.754)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e251d75442727b68

Response Measures

None

Description

OCR/spacing variant: Snowhill appears as Snow Hill in text.

Events (3)

1. January 1, 1932 Receivership
Newspaper Excerpt
the institutions would be turned over to the Comptroller of the Currency.
Source
newspapers
2. January 1, 1932 Run
Cause
Local Banks
Cause Details
Panicky withdrawals related to runs in the local/state banking situation, producing withdrawals at Snow Hill.
Measures
Directors closed the bank to avoid collapse; did not open for business.
Newspaper Excerpt
The runs here today were attended by none of the excitement which marked those three banks last spring.
Source
newspapers
3. January 1, 1932 Suspension
Cause
Local Banks
Cause Details
Directors decided to close the institution after runs and heavy withdrawals rather than risk collapse.
Newspaper Excerpt
The National Bank of Snow Hill ... did not open for business today. ... the institutions would be turned over to the Comptroller of the Currency.
Source
newspapers

Newspaper Articles (3)

Article from The News and Observer, January 1, 1932

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Article Text

Grim Reaper Lags During 1931 North Carolinians died lower rate than in year the State's history, according tabulations compiled yesterday by the State Board Health. The provisional death rate for 1931 was 9.8 100,000 of population. Previously the record low death been 11.2. "It probably the lowest death rate any state east of the Mississippi with the possible exception Vermont," declared M. Parrott, State health officer. The provisional rate will stand for the unless some deadly epidemic broke out before last midnight. was pointed out that large number violent deaths, beyond the control of any health gram, augmented the death toll last year. The rate was wired Governor Gardner New New Year's gift from State and local health officers. agent for the Bank of Coleraine at Coleraine. H. H. Stevens of Goldsboro, was named agent for the Citizens Bank Mount Olive, the Bank of Pikeville, the Planters Bank of the Wilson Trust and Savings Bank of Wilson and the Planters Bank of Wilson, which maintained branches at Kenley and Black Creek. National Banks Close. The National Bank of Snow Hill and the National Bank of LaGrange did not open for business today. D. S. Harrison Snow Hill, was president both banks. Both were small banks. SNOW HILL AND LA GRANGE NATIONAL BANKS SUSPEND Kinston, Dec. were by the local branches of the North Carolina Bank and Trust Co., and Branch Banking and Trust Co., today, but they played out after three hours. Cashiers announced the vaults held money meet The first fright over, the runs suddenly ceased at noon. Directors the First National Bank, La Grange, and First tional Bank, of Hill decided to close those institutions today rather risk their collapse. With drawals had been fairly light. It was predicted depositors will receive "every dollar." Liabilities could not be immediately ascertained, but director said obligations are not heavy" the directors decided on the action at meeting here last night, but there was no official an nouncement until today, when was said the institutions would be turned over to the Comptroller of the Currency. Hardison, Snow Hill, president of both, Robert F. Crisp, Kinston, vice-president both. Miss Sadie Stanton cashier of the La Grange bank, whose capital is $25,000, and deposits $35,000. The Snow Hill bank has capital of $50,000, and deposits of $85,000. The runs here today were attended by none of the excitement which marked those three banks last spring. Policemen stood in the lobbies, but there was no sign of disorder. The Branch Bank said it had no idea of invoking the 30 day clause. CONTINUE 30.DAY CLAUSE GREENSBORO BANK. Greensboro, North Carolina Bank and Trust Company today paid quite promptly the full amounts cash requested by depositors on checking accounts, no maximum other than the amounts the balances being stipulated in such cases. The clause requiring notice of days of intention withdraw money from savings accounts continves force here. However, today was far more day deposits than one of with drawals here. The great influx of deposits recognized indicative of robust confidence. tion was called the fact that the bank has "available for use $8,000,000 in additional President William Ryland referred to the co-operation support of John M. Miller. of Va., National Credit the Fifth Federal Reserve district also the operation some the largest mercial concerns in the country. Meeting Approved. Paris, of the British suggestion for an in ternational reparations at Lausanne on January 18 was voted today by the Council of Ministers at their last 1931 meeting. Watch Night Services. Tarboro, Dec. Howard Memorial Presbyterian church and the Calvary Episcopal church had watch night their churches see the old year out and the new year in.


Article from Pittsburgh Post-Gazette, January 1, 1932

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Article Text

West Virginia Bank Reopens Tomorrow First Citizens National Bank will reopen Saturday under a state charter of an signed by approximately 95 per cent of the was The depositors have agreed not to withdraw deposits during period not to exceed four years Dividends will be paid become liquid. The bank suspended business October 15. WAYNESBURG, Pa., Dec. (Special. was made ipday that the State Bank of Cameron, W. Va., new institution, will open Saturday with capitalization of $50,000. SNOW HILL N. C., Dec. The National Bank of Snow Hill and the National Bank of La Grange did not open for business today.


Article from The Sentinel, January 1, 1932

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Article Text

ALL IS QUIET ON BANKING FRONT Support Pours Into Institutions Victims of Panicky Runs. Raleigh Expressions of confidence stability North Carolina banking today. North Carolina Bank and had complete state M. Miller director the Credit Corporation the Federal ReEight dollars additional to the bank's hand evidence the North Carolina its said bank its and withstand the raid which made some customers entirely said the bank was payments are made out. the largest corporations in United States wired their He praised the the Lean chairman of the as the its entire elientiele within and without Bank Hood issued Bank amined by us all its units and have been consolidated one statement and in our opin. the bank There no excuse for any run on this bank The Branch Banking and Trust Company at Wilson. also had un. qualified endorsement the state Runs this yesterday and the part of had subsided this Hood said there was no excuse for any runs on bank night E. of the United Bank Trust Company branches at Burlington, Santo liquidating agent. The bank He said this variation from the policy of not local man as liquidating agent, but added former of the Bank Lexington, had the short had nothing to do with the institution's Hugh Davis, of Burgaw, was named liquidating agent for the Beaufort Banking and Trust pany at Beaufort, and Ay. Coleraine liquidating agent for the Bank of at Coleraine liquidating agent for the Citizens Bank of Mount Olive the Bank of Pikeville, the Planters Bank Stantonsburg, the Wilson Trust and Savings Bank Wilson, and the Planters Bank of at Kenley and Creek No state banks closed today. al. though which closed and were operating under agreements the end of limit These the Merchants and FarmBank Garysburg and the Bank of Pauls New depositors were paid off in full the banks were returned to State Bank for The Branch Banking and Trust of branch Pauls and the Hood System Industrial Bank of Reidsville opened a at The National Bank Snow Hill and the National Bank of not open for business today of Snow Hill, was president of both.