First National Bank (Pontotoc, MS)

Episode Information

Episode UID
904001573
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
90400 national
Charter Number
9040
Start Date
January 2, 1931
Location
Pontotoc, Mississippi (34.248, -88.999)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9dacb6ba2ecc5c34

Response Measures

Full suspension

Other: State and/or federal authorities closed or took over the bank (authorities involvement mentioned), but no specific rescue measures (borrowing, injections, public displays, or examinations) are described.

Events (3)

1. February 21, 1908 Chartered
Source
historical_nic
2. January 2, 1931 Run
Cause
Local Banks
Cause Details
Withdrawals and contagion among local banks (other Pontotoc bank had closed earlier) triggered heavy withdrawals.
Newspaper Excerpt
city was left without bank today following the closing of the First National bank yesterday after heavy run.
Source
newspapers
3. January 2, 1931 Suspension
Cause
Local Banks
Cause Details
Depositor withdrawals (contagion from other local bank closures) led the bank to close its doors under suspension/closure.
Newspaper Excerpt
Withdrawals by depositors today caused five Mississippi banks to close their doors.
Source
newspapers

Newspaper Articles (4)

Article from The Courier News, January 3, 1931

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Article Text

Van Buren County Bank Reopens for Business CLINTON ARK., Jan. (UP)The Van Buren County bank here resumed business today after agending for five days for readjustment of its affairs. The bank deposits of WASHINGTON ARK., Jan. Washington State bank at Washington closed Its doors today under the five day suspension provision of the state banking The institution was capitalized $25.000 and had deposits of $46,437 PONTOTOC. MISS., Jan. (UP) city was left without bank today following the closing of the First National bank yesterday after heavy run. Previously the Bank of Pontotec was closed.


Article from The Burlington Free Press, January 3, 1931

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Article Text

FIVE MISSISSIPPI BANKS ARE CLOSED today given the reason for the closing five banks taken by State and federal The closed banks were the First National Bank Pontotoc, with posits $600,000 capital stock Bank stock Citizens Bank deposits 000 and capital Bank Derma deposits of $50,000 and capital.


Article from Chattanooga Daily Times, January 3, 1931

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Article Text

LOCAL MARKETS Butter, and Ess Co.) candled colored Leghorn colored (up to lbs.) Stags lbs. Roosters Ducks 10c Butter Fruits and Vegetables. Quota Co. 88 Arkansas Blacks. 138 Rome Beauty fancy, bushels bushels Flemish extra fancy 2.75 Beauty, fancy. 110-120-135s extra Oranges. 126 Oranges, bushels Oranges. special Cranberries. Rhubarb. Canadian. 100 Tomatoes. Fla crate Cabbage. per 100 Brown Beauty 100 lbs. 100 round sweet. per bushel Onions. pounds Parsley dozen Lettuce dozen dozen Bank Suspensions. JACKSON. Miss., Jan. 2 (AP) Withdrawals by depositors today caused five Mississippi banks to close their doors. Combined deposits affected in the national bank, approximated The closed were the First National Bank of Pontotoc, deposits of $600,000 and capital stock of $125,000 Bank of Pontotoc, deposits. $534.000 and capital stock, $100,000; zens bank. deposits, $260.000 and capital $25,000; Bank of Blue with deposits of $179,000 and capital, Bank of Derma, with deposits of $50,000 and $10,000 capital. LITTLE ROCK, Ark., Jan. (AP) State Banking Walter E. ylor announce today the reopening of three banks. closing of one and suspension of another Those reopening were the Eudora bank as successor the closed Eudora Bank and Trust company, at Eudora: Bank of Salem. reorganized at Salem, and the Farmers bank, at Closing of the Interstate National bank at and suspension for five days of the Bank of Marvell, at Marvell. left Phillips county without a banking institution. MONTGOMERY, Ala., Jan. 2 (AP) Dent Green, of banks. announc late today that the Peoples bank, of had its doors. Supt. Green was informed by President W. Rudder that bank been today upon approval of the board of directors, asked that state banking department take over the firm's affairs. Capital stock was listed at $15,000, with surplus of Deposits on Nov. 20, 1930, were $61,880. Supt. Green attributed the bank's


Article from The Item, March 4, 1933

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Article Text

Congress Adjourns March house 72nd adjourned sine die Speaker John Garner, mmediately left for the senate hamber take the oath of office The house and the memberselect to followed him side the capitol. clined to observe Gov. W. Murbanking holiday. Chester March National Exchange bank ter closed its doors today The following posted "Closed until orders from comptroller of The capitalized Jackson, Miss., March Blanket restriction cent deposits with exceptions was ordered today banks Love, state superintend-