Citizens Bank - Cincinnati, OH

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: September 14, 1857
Location: Cincinnati, Ohio (39.103, -84.515)

Metadata

Model: gpt-5-mini
Short Digest: c442b058

Response Measures

None

Description

Contemporary report (Sept 14, 1857) states the bank 'did not open' and the proprietors 'are compelled to suspend' due to difficulty realizing securities and the senior partner's state of mind. Later 1858 reports note the bank 'had failed six months ago,' indicating the suspension led to permanent failure. The bank is described as having proprietors and a senior partner, supporting classification as a private/partnership bank.

Events (2)

1. September 14, 1857 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Difficulty realizing securities and issues related to the senior partner's 'state of mind' forced proprietors to suspend payments.
Newspaper Excerpt: SUSPENDED. CINCINNATI, Sept. 14.-The Citizens Bank did not open this morning. The Proprietors in a card say, owing to the difficulty of realizing securities and the state of mind of the senior partner, Mr. Smead, they are compelled to suspend.
Source: newspapers

2. October 1, 1857* Receivership

Newspaper Excerpt: Imagine his feelings on learning that the bank had failed six months ago! He had not even heard of the extraordinary financial panic which recently swept over the country with such a levelling influence. (reported April/May 1858, referring to failure about six months earlier).
Source: newspapers

Newspaper Articles (3)

1. September 15, 1857 Wheeling Daily Intelligencer Wheeling, WV

Article from Wheeling Daily Intelligencer, September 15, 1857

Click image to open full size in new tab

Article Text

SUSPENDED. CINCINNATI, Sept. 14.-The Citizens Bank did not open this morning. The Proprietors in a card say, owing to the difficulty of realizing securities and the state of mind of the senior partner, Mr. Smead, they are compelled to suspend. This has been expected for the last ten days.

2. April 28, 1858 The Lancaster Ledger Lancaster, SC

Article from The Lancaster Ledger, April 28, 1858

Click image to open full size in new tab

Article Text

DIDN'T TAKE THE PAPERS -In Cincinnati, n few days since, n man who resides within twelve miles of that city, walked into the citizens, bank for the purpose of ob. taining a sum of money which he had de. posited there several years ago. Imagine his feelings on learning that the bank had failed six months ago! He had not even heard of the extraordinary financial panie which recently swept over the country with such a levelling influence.

3. May 14, 1858 The Athens Post Athens, TN

Article from The Athens Post, May 14, 1858

Click image to open full size in new tab

Article Text

WHERE IGNORANCE WAS NOT BLISS.In Cincinnati a few days since, a man who resides within twelve miles of that city walked into the Citizens Bank for the purpose of obtaining a sum of money which he had deposited there several years ago. Imagine his feelings on learning that the bank had failed six months ago! He had not even heard of the panic which recently swept over the country with such a levelling influence. Didn't take the papers.