Citizens Bank (Lexington, TN)

Episode Information

Episode UID
87020771497
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
8702077 routing
Routing Number
87-0207
Start Date
September 18, 1924
Location
Lexington, Tennessee (35.651, -88.393)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
333e1ddfc4e50be5

Response Measures

None

Description

Run began after the death of bank head Henry Graper; state superintendent filed for and was named receiver.

Events (4)
1. September 18, 1924 Run
Cause
Bank Specific Adverse Info
Cause Details
Run developed following the recent death of the bank's head, creating depositor nervousness about solvency.
Measures
Bank was closed at the request of directors.
Newspaper Excerpt
A slow run developed after the death of the bank's head, Henry Graper, a few days ago.
Source
newspapers
2. September 20, 1924 Receivership
Newspaper Excerpt
filed application for receivership in the chancery court and was named receiver, as provided by the banking laws. He announced Saturday that he will name an agent to act for the department within the next few days.
Source
newspapers
3. September 20, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank following the run and death of its head; examiner involvement followed.
Newspaper Excerpt
returned Saturday from Lexington, where he was called by the closing of the Citizens bank. ... The bank was closed at the request of directors.
Source
newspapers
4. October 3, 1924 Other
Newspaper Excerpt
T. J. Taylor, of the first National Bank, Jackson, Tenn., has been appointed Receiver of the defunct Citizens Bank of Lexington, who will have two years in which to wind up the Bank's business, and Mr. Taylor has taken charge.
Source
newspapers

Newspaper Articles (3)
1. September 21, 1924 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, September 21, 1924

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Article Text

M'CONNELL IN CHARGE OF LEXINGTON BANK Chattanooga Times Special. NASHVILLE, Tenn., Sept. 20.—S. S. McConnell, state superintendent of banks, returned Saturday from Lexington, where he was called by the closing of the Citizens bank. Mr. McConnell, after conferring with his examiners, who have been at the bank several days, filed application for receivership in the chancery court and was named receiver, as provided by the banking laws. He announced Saturday that he will name an agent to act for the department within the next few days. The bank was closed at the request of directors. A slow run developed after the death of the bank's head, Henry Graper, a few days ago.

2. October 3, 1924 The Wayne County News Waynesboro, TN
Article from The Wayne County News, October 3, 1924

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Article Text

Bank Receiver Is Appointed T. J. Taylor, of the first National Bank, Jackson, Tenn., has been appointed Receiver of the defunct Citizens Bank of Lexington, who will have two years in which to wind up the Bank's business, and Mr. Taylor has taken charge. The failure of the Bank of Lexington has caused much excitement and has affected several of the citizens of Decatur County.—Decatur Herald.

3. October 12, 1924 The Commercial Appeal Memphis, TN
Article from The Commercial Appeal, October 12, 1924

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Article Text

COUNTY SEEKS MONEY LOANED GRAPER'S BANK Would Collect $350,000 From 90 and 9 Citizens. MANY TRANSFER PROPERTY County Judge Authorized to Employ Attorneys, Bring Suit and Take Such Action as May Be Necessary to Protect Funds. LEXINGTON, Tenn., Oct. 11.—With Henderson County holding the bag for $350,000 of highway funds, loaned to the now defunct Citizens Bank of Lexington, and Henry E. Graper, lately deceased, the county court has become alarmed at the action of certain of the county's most prominent citizens who were on the bond of the bank and are now transferring their property. At a meeting of the court this week, a resolution was passed authorizing the county judge to employ attorneys and bring suit and take such action as may be necessary to protect the county's funds. It is understood that there are ninety-nine of the county's most prominent citizens on the bond and that since the bank failed and the death of Mr. Graper, many of these citizens have been transferring their property to their wives and children. It is understood that the county will bring suit to set aside these transfers and will also ask for an injunction to prevent further transfers. The county court is determined to collect the money and will take every legal step to do so. The county's funds were placed in the bank by the highway commission and the bank gave a bond signed by ninety-nine citizens to protect the county.