17427. Stillwater Valley Bank (Covington, OH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 19, 1931
Location
Covington, Ohio (40.117, -84.354)

Metadata

Model
gpt-5-mini
Short Digest
a6e26dd0

Response Measures

None

Description

Multiple newspaper reports (Feb 19–20, 1931) state the Stillwater Valley Bank of Covington suspended business and would be liquidated (articles even call it the defunct bank). No mention of a depositor run; county funds were declared a trust and paid to the treasurer. Classification: suspension with permanent closure/liquidation.

Events (1)
1. February 19, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Newspapers report the bank suspended business and would be liquidated; state banking officials and county negotiated treatment of taxes as trust funds for payment to treasurer; indicates closure and liquidation rather than a temporary suspension or regulatory holiday.
Newspaper Excerpt
the Stillwater Valley bank of Covington, which recently suspended operations ... the bank had suspended business and would be liquidated
Source
newspapers

Newspaper Articles (5)
1. February 19, 1931 Troy Daily News Troy, OH
Article from Troy Daily News, February 19, 1931

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Article Text

ISSUE County Treasurer Says Taxpayers Can Secure Vouchers Calling At Institution Those taxpavers who paid their Stillwater Valley bank of Covington which has suspended operations may secure their tax receipts calling at the bank to County Treasurer RobHance. after the announcement made that the bank had and would be liquidated, County Hance and Attorney Harbegan negotiations with state officials to secure an agreement dethe collected by the agent of the county treasurer declared trust fund and part of the ordinary assets of the Through assistance rendered State Cleona Serie and Schurr, representative the state banking department, and officers the state deagreed the taxes should partment regarded trust fund. Accordingly, recently application was made in the common pleas court seeking authority permit the payment the money the county treasurer. Judge Jones immediately the request the funds granted Treasurer Hance who once gave the taxpayers credit issued their receipts which are available at the Stillwater Valley The prompt action by the county and state officials relieves large number Covington from having their taxes become delinquent and from possible danger of having them or portion of them second time.

2. February 19, 1931 Miami Union Troy, OH
Article from Miami Union, February 19, 1931

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Article Text

County Treasurer Says Taxpayers Can Secure Vouchers Calling At Institution These taxpayers who paid their taxes through the Stillwater Valley bank of Covington which has suspended operations secure their receipts by calling at the bank according County Treasurer Immediately after the announcement the bank had and would County Hance Attorney Harbegan state officials secure an declaring the collected by the agent of the county be declared trust and part of the ordinary assets the institution. Through rendered Cleona Serle and banking department, officers the state agreed the taxes should regarded trust Accerdingly, recently an application made the common seeking authority the payment the money the county treasurer. Judge Jones immediately granted the request the funds paid to Hance who taxpayers credit and their receipts which are available at the Stillwater Valley bank. The prompt action by the county and officials large number their taxes and from danger of having to pay them or portion of them second time.

3. February 20, 1931 Dayton Daily News Dayton, OH
Article from Dayton Daily News, February 20, 1931

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Article Text

MIAMI COUNTY TAXPAYERS TO GET RECEIPTS Money Paid Into Suspended Bank Regarded as "Trust Fund." TROY, Feb. Property owners who paid their taxes through the Stillwater Valley bank of Covington, which recently suspended operations, may secure tax receipts by calling at the bank, cording to County Treasurer RobM. Hance. Following the announcement that the bank had suspended business and would be liquidated Mr. Hance and Prosecutor L. E. Harvey began negotiations with state officials to secure an agreement declaring the $5976 collected. by the bank as an agent of the county treasurer be declared a trust fund and not part of the ordinary assets of the institution. Through assistance rendered by State Examiner Cleona Searle and D. J. Schurr, representative of the state banking department, and officers of the defunct bank, the state department agreed taxes should be regarded as trust fund. Judge Walter D. Jones granted a request of authority to permit the payment of the money to the county treasurer, which was done, payers being given credit and receipts issued, now available at the bank. ONLY ONE PRECINCT TROY, Feb. Lostcreek tp. will have but one rural voting precinct, instead of two, according to an action taken by the board of elections Wednesday night. The polling place will be located in Casstown. The Casstown precinct was undisturbed, the township will have the two precincts, instead of three, one including the village of Casstown and the other the of the township. Hearings on changes in. Monroe and Newberry were scheduled for Thursday and Friday evenings, while changes proposed for Newton and Union will heard Wednesday and Thursday evenings of next week. TROY. Feb. Merchandise to the value of $150 was stolen from the Lair store in West Milton Wednesday night.

4. February 20, 1931 The Piqua Daily Call Piqua, OH
Article from The Piqua Daily Call, February 20, 1931

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Article Text

TAX RECEIPTS PAID WILL GIVEN Those taxpayers who paid their through the Stillwater Valley bank Covington which has suspended operations secure their tax receipts calling the bank according County RobHance. Immediately after the announcement made that bank had suspended business and would liquidated, County Treasurer Hance and Prosecuting Attorney began with state officials secure agreement declaring the $5,976 collected the bank agent of the treasurer declared trust fund and not part of the ordinary the institution. Through assistance rendered State Cleona Serle and Schure, representative of the state department, and officers of the defunct bank, the state agreed the taxes should be regarded trust fund. Aocordingly, application made in the mon pleas court seeking authority to permit the the the Judge Jones granted the request and the funds were paid to Hance once gave the taxpayers credit and receipts which are available at the Stillwater Valley bank. The prompt action by the county and state officials relieves large number Covington taxpayers from having their taxes become and from possible danger of having to them tion of them second time. CAT FINDS CONSTRICTOR Folkestone, Eng. cat found baby boa constrictor, three feel crate of bananas shipped hero from the West Indies. Skating rinks, FAYS news to have colored Ice. hocteams henceforth win lose or shade?

5. February 20, 1931 The Daily Advocate Greenville, OH
Article from The Daily Advocate, February 20, 1931

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Article Text

TRUST of Covington FiRecent Closing Institution Not to Effect nancial Who Had Paid Over Taxpayers Orders $5,900 Into Money Held Trust Fund. Ohio, Feb. taxTroy, their taxes thru payers who paid the Stillwater valley Bank of Covington, which has suspended operations, secure their tax receipts may calling the bank, according by Treasurer Robert County Hance. Immediately after the announcement was made the bank had suspended business and would be liquiCounty Treasurer Hance and Prosecuting Attorney Harvey began negotiations with state officials to secure an agreement, declaring that $5,976 collected by the bank as agent of the countay treasurer be declared trust fund and not part of the assets of the institution. ordinary Through assistance rendered by State Examiner Cleona Serle and Schurr, representative of the state banking department, and ficers of the defunct bank the state department agreed the be regarded trust fund. Accordingly an application was made the pleas court seeking authority to permit the payment of the money to the county treasurer. Judge Jones immediately granted the request and the funds were paid to Hance, who gave the taxpayers credit and issued their receipts, which are available at the Stillwater Valley bank.