First National Bank (Lineville, AL)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
November 23, 1905
Location
Lineville, Alabama (33.311, -85.754)
Bank Type
national
Charter Number
7516

Metadata

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1905-11-24
Date receivership terminated
1906-12-31
OCC cause of failure
Losses
Share of assets assessed as good
42.6%
Share of assets assessed as doubtful
15.6%
Share of assets assessed as worthless
41.8%

Notes

The bank suspended on Thursday (Nov 23) due to a threatened run; the official receivership followed on Nov 24.

Events (5)

1. December 16, 1904 Chartered
Source
historical_nic
2. November 23, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Threatened run due to rumors.
Measures
The board of directors ordered the bank closed.
Newspaper Excerpt
The directors of the Lineville bank ordered it temporarily closed on Thursday, in consequence of a threatened run, due to some rumors.
Source
newspapers
3. November 23, 1905 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closed by directors in response to a threatened run caused by rumors.
Newspaper Excerpt
The directors of the Lineville bank ordered it temporarily closed on Thursday
Source
newspapers
4. November 24, 1905 Receivership
Newspaper Excerpt
National Bank Examiner S. H. L. Cooper has been appointed receiver.
Source
newspapers
5. November 24, 1905 Receivership
Source
historical_nic

Newspaper Articles (12)

Article from Albuquerque Evening Citizen, November 25, 1905

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Article Text

BANK CLOSED BY ORDER OF BOARD OF DIRECTORS Washington, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by the order of the board of directors. National Bank Examiner S. H. L. Cooper has bee inappointed receiver.


Article from Waterbury Evening Democrat, November 25, 1905

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Article Text

NATIONAL BANK CLOSED

Washington, Nov. 25-The comptroller of the currency was advised to-day that the First National bank of Lineville. Ala., had been closed on the order of the board of directors. National Bank Examiner 8. H. L. Cooper has been appointed receiver.


Article from Evening Journal, November 25, 1905

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Article Text

Bank Suspends

By Publishers' Press. Washington, Nov. 25.-The First National Bank of Lineville, Ala., has been closed by order of its board of directors. National bank examiner S. H. L. Cooper has been appointed receiver. The resources and liabilities of the bank at the close of business on November 9, 1905, were $75,102 each.


Article from The Topeka State Journal, November 25, 1905

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Article Text

National Bank Closes in Alabama

Washington, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Salt Lake Herald, November 26, 1905

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Article Text

ALABAMA BANK CLOSED.

Washington, Nov. 25.-The comp- troller of the currency was advised to- day that the First National bank of Lineville, Ala., had been closed by or- der of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Birmingham Age-Herald, November 26, 1905

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Article Text

FIRST NATIONAL OF LINEVILLE CLOSES It Is Belleved That the Affairs of the Institution Will Soon Be Adjusted. Washington, November 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver. The following is a statement of the resources and liabilities of the bank at the close of business on November 9, 1905, as shown by the last report of condition made to the comptroller: Resources: Loans and discounts, $44,802. United States bonds to secure circulation, $0250. Bonds, securities, etc., $628. Banking house and furniture and fixtures, $1798. Due from banks and bankers, $17,496 Checks and other cash items, $3815. Redemption fund, $312. Total, $75,102. Liabilities: Capital stock, $25,000. Surplus and undivided profits, $406. Circulating notes, $6250. Due to banks and bankers, $1052. Individual deposits, $24,415. Bills payable and rediscounts, $17,077. Total, $75,102. Talladega, November 25.-(Special.)-The directors of the Lineville bank ordered it temporarily closed on Thursday, in consequence of a threatened run, due to some rumors. It is not thought that any one will lose money by this action, or that the closing will be permanent. An examiner investigated the affairs of the bank today. It is hoped, and believed, that the difficulties of this institution will be but temporary.


Article from Omaha Daily Bee, November 26, 1905

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Article Text

Alabama Bank Fails

WASHINGTON, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville. Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from Albuquerque Morning Journal, November 26, 1905

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Article Text

Alabama Bank Closed

Washington, Nov. 25.-The comptroller of the currency was advised today that the First National Bank of Lineville, Ala., had been closed by the order of the board of directors. National Bank Examiner S. H. I. Cooper has been appointed receiver.


Article from Los Angeles Herald, November 26, 1905

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Article Text

Alabama Bank Is Closed By Associated Press. WASHINGTON, Nov. 25.-The comptroller of the currency was advised today that the First National bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from Twice-A-Week Plain Dealer, November 28, 1905

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Article Text

Alabama Bank Closed

Washington, Nov. 27.-The comptroller of the currency has been advised that the First national bank of Lineville, Ala, had been closed by order of the board of directors, National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from New Ulm Review, November 29, 1905

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Article Text

Alabama Bank Closed

Washington, Nov. 27.-The comptroller of the currency has been advised that the First national bank of Lineville, Ala., had been closed by order of the board of directors. National Bank Examiner S. H. L. Cooper has been appointed receiver.


Article from The Plymouth Tribune, November 30, 1905

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Article Text

National Bank Closed

The First National Bank of Linevitle, Ala.. has been closed by order of its board of directors. National Bank Examiner S. H. Cooper has been appointed receiver. The resources and liabilities of the bank were $75.102 each.