The Bank of Efland was chartered in 1920, and organized on September 8, 1920. It opened for business on December 1, 1920.
Its president was John L. Efland, and its cashier was Roberts Riley.
It "became insolvent" in 1932 (during the Depression) and its assets were liquidated.
On November 1, 1930, there was an attempted bank robbery:
"In an unsuccessful attempt to rob the Bank of Efland at 10:30 this morning, one robber was killed in a fight with Mr. Carl Forrest, a merchant, and another escaped in a Buick roadster in which he sat in front of the bank. The dead man has been identified as Bruce Carpenter about 26, of Durham. Papers found on him bore this name and address. Efforts were being made this afternoon to make the identification positive. Frustration of the robbery was directly due to an alarm given by Mrs. George Shambley, who started to the bank while the job was in progress. Just as she started to enter the door in the car said to her: 'Lady, you can't go In there now. We're attending to some business in there.' Sensing trouble Mrs. Shambley, instead of standing by the yellow coupe of the ????, went Into the store of Mr. Forrest and said to him: 'Something is wrong over at the bank.' Mr. Forrest remembered that he had loaded a new double-barreled shotgun to shoot a hawk. It was lying nearby. He picked It up and went out toward the bank, about 50 yards away. Mr. Forrest was commanded to halt by the man in the car. He saw in his hands what appeared to be a rifle..."
(From The Elkin Tribune. Elkin, N.C. November 06, 1930)
Bruce Carpenter's 1930 death certificate