Salem State Bank - Salem Lakes, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 23, 1916
Location: Salem Lakes, Wisconsin (42.532, -88.102)

Metadata

Model: gpt-5-mini
Short Digest: 3525e7ae6c314860

Response Measures

None

Description

Article (The Telegraph-Courier, 1916-03-23) reports Salem State Bank issuing formal notice that it is 'under voluntary liquidation' and will 'suspend business in the near future.' No run or depositor panic is mentioned. This is a voluntary suspension leading to permanent closure/liquidation.

Events (1)

1. March 23, 1916 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank issued formal notice that it is under voluntary liquidation and will suspend business in the near future
Newspaper Excerpt: formal notice has been given that the Salem State Bank at the village of Salem, is under voluntary liquidation. Formal notice of the bank to suspend business in the near future was given out on Monday afternoon
Source: newspapers

Newspaper Articles (1)

1. March 23, 1916 The Telegraph-Courier Kenosha, WI

Article from The Telegraph-Courier, March 23, 1916

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Article Text

WILL RETIRE FROM BUSINESS Every Depositor Will Be Paid Dollar for Dollar and Resources of Bank Ample to Meet Every Claim Upon ItIn Business Two Years. Kenosha county is going to have one less banking institution as a formal notice has been given that the Salem State Bank at the village of Salem, is under voluntary liquidation. Formal notice of the bank to suspend business in the near future was given out on Monday afternoon, the announcement reading: