Citizens National Bank - Springfield, OH

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5160
Charter Number: 5160
Start Date: March 6, 1933
Location: Springfield, Ohio (39.924, -83.809)

Metadata

Model: gpt-5-mini
Short Digest: 44d47913

Response Measures

None

Description

Article (Springfield News-Sun, 1933-03-16) describes local banks having been closed in connection with the national bank holiday and now resuming unrestricted operations. No run or depositor panic is described. Closure was due to government-declared bank holiday; banks reopened by mid-March 1933.

Events (3)

1. December 21, 1898 Chartered

Source: historical_nic

2. March 6, 1933 Suspension

Cause: Government Action
Cause Details: Closed in connection with the nationwide bank holiday declared by the federal government in March 1933 (temporary cessation of banking).
Newspaper Excerpt: all four of her financial ... closed in connection with the bank holiday
Source: newspapers

3. March 16, 1933 Reopening

Newspaper Excerpt: We are very happy to again sume unrestricted basis,' H. Freeman, president of The Citizens National Bank said. 'It will be our endeavor...serve this community...checking accounts are fully open for Depositors...all banks open and ready serve the public upon 100 per cent basis.' (Springfield News-Sun, 1933-03-16).
Source: newspapers

Newspaper Articles (1)

1. March 16, 1933 Springfield News-Sun Springfield, OH

Article from Springfield News-Sun, March 16, 1933

Click image to open full size in new tab

Article Text

oncluded From Page One DEPOSITS ARE GREATER THAN WITHDRAWALS slightly increased demand will inevitably result orders being placed with This, in turn, will result in orders being placed for materials, that every type of will feel the reflection the better times that are generally conceded to be ahead. Bank officials Thursday were in happy frame of mind, was realized that all of Springfield's financial have approved under the strict regulations imposed by the federal government, and that it now will be possible in serving the financial needs of the "We are very happy to again sume unrestricted basis,' H. Freeman, president of The Citizens National Bank said. "It will be our endeavor in the future, has been in the past, serve this community financial to the best of our ability.' Dr. Rees Edgar Tulloss, president of The First National Bank and Trust Co., to be congratulated upon the fact that all four of her financial ily closed in connection with the bank holiday', are now open and ready serve the public upon 100 per cent basis. "The stagnating effects of the cessation of banking should now speedily disappear. Checking accounts are fully open for Depositors are paying their bills, the current of business activity again beginning flow. Springfield should realize her good fortune seeing all banks open thus promptly In many of our sister cities certain banks are in the hands of conservators. In some cases reorganization will be necessary before institutions will be permitted open fully. contrast with this, Springfield's situation happy one. Once our may be proud of the record which Springfield has made "Many economists believe that the action of the governin handling the financial crisis may prove to be the turning point the and are looking forward to an early terial in business. "The banks Springfield are position be helpful in any sound project looking toward increased business activity We may hope that 1933 will bring reassurance and encouragement to our community and country. are gratified that of the banking instihave been given 'clean bill of health Cooke, vice president of The Society, said. believe that this approval the soundness the local banks, and should serve incentive to the to move forward unhampered by any fears what the future hold in store." "Certainly it is gratifying that all our banks have been recognized sound financial Frank Braun, of The First Morris Plan Industrial Bank, said. "No finer tribute could be paid to our city than to have all of its banks qualified to resume unrestricted operations. something for the community to be proud of, is the wonderful spirit faith and which has been during trying times by the citizens the city None of the new Reserve currency has appeared in Springfield yet, none is likely to for some local bank officials said This said to be because so much hoarded currency has been deposited in the banks that they had call on the Federal Reserve bank for additional currency with which to meet their immediate needs. However, expected that some of the new notes will be shipped to local banks to aid in its distribution throughout the country. While none of the new bills are available locally, they were described Thursday by banker who has seen them as follows: picture of Hamilton on one side, with picture of the Treasury on the reverse side. Above the picture of Hamilton written, "National Currency, and below. "Secured by Bonds Deposited With the Treasurer of the United States of America,' below which, in type "Or By Like Deposits of Other Securities.' The name of the Federal Reserve bank appears the left of Hamilton's picture statement pay the bearer on demand' the face value of the note.