Citizens Bank - Elroy, WI

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: August 21, 1931
Location: Elroy, Wisconsin (43.741, -90.272)

Metadata

Model: gpt-5-mini
Short Digest: 53ce8465

Response Measures

None

Description

Article (dated 1931-08-22) reports Citizens' Bank of Elroy was suspended by the state banking commissioner as inexpedient to continue business until the bank is reorganized and that an effort will be made to reopen the bank the same year. No run is mentioned.

Events (1)

1. August 21, 1931 Suspension

Cause: Government Action
Cause Details: State banking commissioner announced suspension as inexpedient to continue business until the bank is reorganized; suspension appears to be by regulator pending reorganization.
Newspaper Excerpt: Citizens' Bank of Elroy was yesterday, Schwenker, state banking announced here today. Mr. Schwenker said it was inexpedient to continue business until the bank is reorganized.'
Source: newspapers

Newspaper Articles (1)

1. August 22, 1931 Chippewa Herald-Telegram Chippewa Falls, WI

Article from Chippewa Herald-Telegram, August 22, 1931

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Article Text

Elroy Citizens' Bank Suspended on Friday Madison, Wis. Citizens' Bank of Elroy was yesterday, Schwenker, state banking announced here today. Mr. Schwenker said it was "inexpedient to continue business until the bank is reorganized.' Officers of the bank are S. Marsh, president; H. Stahler, cashier, and A. Telfer, vice president. Deposits totaled $380,000 and the surplus $10,000. The bank talized $40,000. Commissioner Schwenker said an effort will be made reopen the bank this year.