An undated photograph of the black-owned and -operated Commercial Bank of Wilson. For more about the bank, see here and here and here.
Photograph courtesy of J. Robert Boykin and reprinted from Wilson Daily Times, 5 February 2008.
An undated photograph of the black-owned and -operated Commercial Bank of Wilson. For more about the bank, see here and here and here.
Photograph courtesy of J. Robert Boykin and reprinted from Wilson Daily Times, 5 February 2008.
Sometime I want you to tell me exactly what happened with the officers that made that bank fail. Was it Reid who was culpable?
I am speaking without knowing the facts, but my impression is that Wilson was often within a hair of competing with Durham for the strength of its African-American community, but then some unfortunate event—like the bank failure, would cause things to come crashing down. It is such a shame. Wasn’t there an insurance company, also?
B. Perry Morrison, Jr. Morrison Law Firm, P.L.L.C. P.O. Box 2046 4612 Nash Street North Wilson, NC 27894-2046 (252) 243-1003 (252)243-1004 (fax) http://www.nccomplaw.com
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I don’t know any more than was reported. Whoever was culpable, Reid and Stanback alone did stints in the state pen. The community certainly seems to have experienced a prominence — from say 1890-1930 — that it has never quite matched since. The insurance company was Lincoln Benefit Society. It was a Vick creation, but I don’t know it’s fate.