Peoples Bank - Clear Lake, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 17, 1924
Location: Clear Lake, Wisconsin (45.252, -92.271)

Metadata

Model: gpt-5-mini
Short Digest: a9141e32

Response Measures

None

Description

Article (Evening Star, 1924-05-18) reports the First State Bank of South Haven was closed by order of the state superintendent of banks for lack of reserves. No run or reopening mentioned; closure appears to be regulatory suspension leading to permanent closure (no reopening or receivership explicitly stated).

Events (1)

1. May 17, 1924 Suspension

Cause: Government Action
Cause Details: Closed by order of the state superintendent of banks due to lack of reserves.
Newspaper Excerpt: The First State Bank of South Haven was closed yesterday by order of the state superintendent of banks because of lack of reserves.
Source: newspapers

Newspaper Articles (1)

1. May 18, 1924 Evening Star Washington, DC

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Article Text

CLOSE DOORS OF TWO BANKS. MADISON, Wis, May 17.-State Banking Commissioner D. T. Parker has taken over the People's Bank at Clear Lake. Depleted cash reserves frozen assets and impairment not 11 capital were the causes assigned. The bank is capitalized at $25,000 with deposits of $168,000. St. PAUL, Minn., May 17.-The First State Bank of South Haven was closed yesterday by order of theb state superintendent of banks beA cause of lack of reserves. The bank capital is $10,000 with deposits bivib $215,000.