22494. Commercial State Bank (Argyle, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 4, 1930
Location
Argyle, Wisconsin (42.701, -89.867)

Metadata

Model
gpt-5-mini
Short Digest
f27589ec

Response Measures

None

Description

State banking department/commission ordered the bank closed for frozen assets and deficient cash reserve. Articles (Aug 5, 1930) indicate closure by state action; no mention of depositor run prior to closure.

Events (1)
1. August 4, 1930 Suspension
Cause
Government Action
Cause Details
Closed by the state banking department/commission due to frozen assets and deficient cash reserve (state-ordered suspension/closure).
Newspaper Excerpt
The state banking department today announced the Commercial State bank of Argyle closed yesterday because of frozen assets and a deficient cash reserve.
Source
newspapers

Newspaper Articles (3)
1. August 5, 1930 The Waukesha County Freeman Waukesha, WI
Article from The Waukesha County Freeman, August 5, 1930

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Article Text

Close Bank Because of Frozen Assets MADISON The Commercial State bank, Argyle, has been closed because of frozen assets and deficient cash reserve, the state banking commission announced today. Capital was listed at $30,000, surplus $8,000, and deposits $317,873.31. Officers of the bank are: president, Robert Peacock; vice president, H. F. Hawley; and cashier, F. C.. McQuillan. The Farmers and Merchants bank, Richland Center, has been reorganized and was reopened for business today, the commission reported. The bank was suspended April 19, 1930.

2. August 5, 1930 The Post-Crescent Appleton, WI
Article from The Post-Crescent, August 5, 1930

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Article Text

BANK AT ARGYLE IS SHUT BY STATE ORDER Madison state banking department today the Commercial State bank of Argyle closed because of fro. zen and cash said the Farmers and Merchants of Richland Center today after reorganization which has been effected since April The Argyle bank had deposits of $300,000, and was ganized in 1909. Its capital $32,had $8,000. Robert Peacock was Hawley, vice and McQuillan, cashier.

3. August 5, 1930 The Journal Times Racine, WI
Article from The Journal Times, August 5, 1930

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Article Text

Close Argyle, Wis., Bank; Another Re-Opens Today MADISON, Wis., Aug. The state banking department today announced the Commercial State bank of Argyle closed yesterday because of frozen assets and a deficient cash reserve. It also said the Farm and Merchants bank of Richland Center re-opened today af. ter reorganization which has been effected since it closed April 19. The Argyle bank had deposits of approximately $300,000. and was organized in 1909. Its capital was $32,000, and it had a surplus of $8,000. Robert Peacock was president: H. F. Hawley, vice-president, and McQuillan, cashier.