22546. State Bank (De Pere, WI)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
February 13, 1933
Location
De Pere, Wisconsin (44.449, -88.060)

Metadata

Model
gpt-5-mini
Short Digest
2be4ed48

Response Measures

Accommodated withdrawals, Partial suspension, Books examined

Other: Accepted new deposits into segregated 'special account' and reorganized, later paying depositors in installments.

Description

Heavy withdrawals led the State Bank of De Pere to inaugurate a 15-day moratorium (suspension) in February 1933. The articles link withdrawals to trouble at other local banks (McCartney bank, Green Bay). The bank reorganized over the summer and began partial payments to depositors in August 1933.

Events (3)

1. February 13, 1933 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by troubles at nearby banks, notably the McCartney bank at Green Bay
Measures
Accepted new deposits into segregated special account; cashed checks drawn on outside banks; moratorium (15-day) invoked
Newspaper Excerpt
inaugurated 15day moratorium because of heavy withdrawals by depositors
Source
newspapers
2. February 13, 1933 Suspension
Cause
Local Banks
Cause Details
Bank placed a 15-day moratorium (suspension of payments) after heavy withdrawals related to failures/troubles of other local banks (McCartney bank).
Newspaper Excerpt
inaugurated 15day moratorium because of heavy withdrawals by depositors
Source
newspapers
3. August 1, 1933 Reopening
Newspaper Excerpt
STATE BANK MAKING FIRST PAYMENT TO DEPOSITORS TODAY ... reorganized this summer after being on moratorium ... About $30,000 will be paid out to persons who had money on deposit when the bank ... functions Feb. 13 ... Interest included ... payment five per cent ... Another five per cent will be due in six months under the agreement.
Source
newspapers

Newspaper Articles (2)

Article from Green Bay Press-Gazette, February 21, 1933

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Article Text

NEWDEPOSITS ACCEPTED AT DE PERE BANK Special Service Offered to Business Men During Recess. DE of the Wisconsin banking had not arrived today begin an examination of the State Bank of De Pere, which inaugurated 15day moratorium because of heavy withdrawals by depositors, and they may not be late in the because of busy other banks, which are in similar situation, is Services of the examiners have been in demand since banks number of Wisconsin cities declared holidays moratoriums. but the banking department is making efforts to do the work as speedily possible so as permit those banks to make declion on what course to pursue, relative continuing business of liquididating, by the De Pert bank's cashier, Carl Scott. New Deposits Accepted Until an examination made of the bank's affairs, nothing can be done. the are gone the will suggest the whether would be desirable to probbably by calling for an assessment or to liquidate, said In the meantime, deposits of proximately $750,000 are tied up, but the bank banking service for which can no compensation form, as money can not be loaned. Deposits of new are being accepted, and all of that money segregated, is handled as "special account by the bank, and can be used in the ordinary course business the depositors Checks may be drawn against such deposits. Business men, in number of instances, accounts yesterday, said. The bank. and its west side branch, cashed about 000 of checks, all drawn on outside banks, to date patrons. That service will be Paid Out $470,000 Troubles that brought about the the the McCartney bank at Green Bay, said by Mr. Scott in speaking to the De Pere Rotary club yesterday at its noon luncheon. Depositors about $470,000 since the McCartney bank suspended until the books of the bank closed Saturday night, he stated. Since first of this year the amounts to $40,000. Much of the money withdrawn from that bank, and from banks throughout the country in the last few years is in safety deposit boxes, in the opinion of bankers and banking he The State bank was organized 1900, and at one time its deposits more $1,500,000. Its loan business for the greater part has been with and farmers in this The of the by the state will show the be in excellent condition, the cashier said. The Bank West Pere is carrying business usual today and the cashier. John Stengel, said that were not withdrawing money sums large enough cause the directors to consider moratorium


Article from Green Bay Press-Gazette, August 1, 1933

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Article Text

STATE BANK MAKING FIRST PAYMENT TO DEPOSITORS TODAY Money Not Due Until Aug. 20, Being Advanced With Interest Since Feb. 18. DE the first payment of portion of deposits of the State bank of De Pere, reorganized this summer after being on mornot due till Aug. the money is being paid depositors it announced today at the now. was bank. About $30,000 will be paid out to persons who had money on deposit when the bank banking functions Feb. 13 Interest included this total. The payment five cent the total stipulated in agreement which depositors asked sign order to facilitate the reorganization of the bank Another five per cent will due in six under the agreement. Permission to tender the five per cent to the earlier date was granted by the Wisconsin the that partment the bank could readily pay It now UNDERGOES OPERATION DE Fred Smith, who submitted operation Friday Jackson Madison. the Methodist hospital capital city. expected she will remain there about two weeks Her condition showing improvement. MISS ROFFERS WEDS DE Mrs. Jacob Roffers. 127 Wisconsin-st. nounce the marriage of their daughLucille. Cornelius Kosmosky Forest Junction The ceremony was performed yesterday Mr. and Mrs Kosmosky will reside Forest after wedding trip by motor to California.