First National Bank (Ackerman, MS)

Episode Information

Episode UID
925101480
Episode Type
Suspension β†’ Reopening
Bank Type
national
Bank ID
92510 national
Charter Number
9251
Start Date
April 14, 1923
Location
Ackerman, Mississippi (33.310, -89.173)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bacb75ea360514b5

Response Measures

None

Receivership Details

Date receivership started
1922-01-12
OCC cause of failure
Losses

Events (6)

1. October 8, 1908 Chartered
Source
historical_nic
2. January 12, 1922 Receivership
Source
historical_nic
3. May 8, 1922 Restored To Solvency
Source
historical_nic
4. April 14, 1923 Reopening
Newspaper Excerpt
he was enabled by judicious management of assets to re-open the bank at Ackerman, Miss.
Source
newspapers
5. November 12, 1926 Receivership
Source
historical_nic
6. * Suspension
Cause
Government Action
Cause Details
Bank was placed in receivership and an appointed receiver (J. A. Best) managed affairs.
Newspaper Excerpt
J. A. Best, Receiver of the First National Bank, has returned from Ackerman, Miss.
Source
newspapers

Newspaper Articles (2)

Article from White County Record, May 25, 1922

Click image to open full size in new tab

Article Text

Mrs. W. H. Stevens. Robert Everett, age 79, an old Union soldier, died at his home in Bald Knob, May 24th. Samuel Booth of Searcy, and Miss Ruth Boone of Judsonia, were married last Monday evening, May 15th. Judge J. M. Collison of Bald Knob, has received $275 in a settlement with the Mo.-Pac., for injuries sustained when he was jerked down in a caboose on March 22. J. Collison of Bald Knob says he sold his truck through one advertisement in the Record. Don't miss the Rollecking jazzy clown show on the minstrel order given by the Jolly Jesters. Don't fail to see the Miracle Lady -The dancing Dolly Sisters, The old fashion girl in hoop skirt, The beautiful bride, and Gretchen O'Brien, who gives a lecture on Maggie and Jiggs. Mr. and Mrs. J. W. McClenny and children went Sunday in Heber Springs. Mrs. Sanders of Austin, is visiting at the home of Mr. and Mrs. E. W. Smith. J. R. Bozarth, berry buyer, left Tuesday to return to his home at Hannibal, Mo. Mr. Bozarth has not missed a strawberry season in Judsonia for 12 years. J. A. Best, Receiver of the First National Bank, has returned from Ackerman, Miss., and will spend a couple of weeks here on business. Candidate Jesse M. Pickard was in town Monday shaking hands. H. L. Horton, of the Arkansas Power Corporation, was in town Monday. It is rumored extensively that work at the dam will start with a rush in a short time. Dr. G. B. Huffaker, of Bald Knob, was transacting business in Judsonia Tuesday evening. Born To Mr. and Mrs. Sam Hassen on May 11th, a son. D. C. Mondy has sold the lot which his blacksmith shop stands and will discontinue the shop. He says that he is going to raise poultry in the future. The lot was purchased by S. Armstrong, who will immediately build upon it an up-to-date drive in filling station. The Ladd Auto Company has completed some alterations and additions to their garage which gives them one of the best arranged and most completely fitted up garages in the state. The contract for the paving of streets and concrete work in Searcy was let last week to Grady Garms of Little Rock. Mr. Garms has the reputation of being one of the best con- tractors in the state. There will be moving pictures of the Jack Dempsey and Georges Carpentier fight at the theatre, Saturday night under the auspices of the American Legion. Adm. 25 and 50c. Lostβ€”Tuesday morning, A load binder, between my barn and depot. Finder please return and receive reward. W. A. Sanders. Don't fail to see the Jolly Jesters in clown suits, Wednesday evening, May 31st., Electric Theatre, Judsonia, Ark. Clas-


Article from The Journal News, April 14, 1923

Click image to open full size in new tab

Article Text

the most important result, will be that when the people realize that if the bank would close its doors they would be assured of payment in full for their deposits automatically, it would mean the releasing from attics, cupboards and other places of not only millions of dollars, but of billions, which could be diverted into American business needs." Best Lives Up To Name. "Best in name and best in fact." This was the brief, but strong, indorsement given by an official of the office of comptroller of the currency in speaking of John A. Best, who has been sent out to Springfield, Ohio, to take charge of the Springfield National bank as its receiver. It also was asserted that while the job of straightening out the tangled affairs of the bank is recognized to be a big one, Mr. Best is amply big enough for the job. Mr. Best is a professional bank receiver par excellence. The comptroller's office picked him up a good many years ago when he was a resident of King county, Washington state, and he has always been considered a good discovery. It is a coincidence that his first job as a bank receiver was in the state of Ohio. He was sent out to wind up the Dresden National bank of Dresden, Ohio. In subsequent years he has served as receiver for the First National bank of London, Ky.; the Citizens' National bank of Pineville, W. Va.; the First National bank of Ackerman, Miss., and the First National bank of Judsonia, Ark. He had just completed his duties at Judsonia when the comptroller picked him to take charge of the Springfield institution. He was enabled by judicious management of assets to re-open the bank at Ackerman, Miss.