Security State Bank - Madison, WI

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: July 17, 1932
Location: Madison, Wisconsin (43.073, -89.401)

Metadata

Model: gpt-5-mini
Short Digest: 47186b80

Response Measures

Full suspension

Other: OCR text is noisy; references to liquidation, creditors, and court proceedings indicate permanent closure and liquidation.

Description

OCR is poor but article (Wisconsin State Journal, 1932-07-17) references Security State Bank in Madison being closed after depositors made run and discussion of liquidation and creditors. Indicates a run preceded suspension and permanent closure/liquidation.

Events (3)

1. July 17, 1932 Other

Newspaper Excerpt: Efforts Naught the offer which built up in the along the that had set forth the slam ... liquidation assets naught. member of the creditors' ... getting 100 cents on the dollar. Unless candidates ... announce correct attitude ... disposed the either the assembly or senate. Warren E. Hicks
Source: newspapers

2. July 17, 1932 Run

Cause: Bank Specific Adverse Info
Cause Details: Depositors withdrew after concerns about the bank's solvency; discussion of liquidation and creditors suggests bank-specific insolvency fears.
Newspaper Excerpt: small depositors made run bank was worth more to the Security State bank
Source: newspapers

3. July 17, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed and moved toward liquidation; creditors and offers discussed, indicating suspension due to insolvency and liquidation proceedings rather than rumor or government action.
Newspaper Excerpt: closed. ... liquidation assets ... creditors' ... getting 100 cents on the dollar
Source: newspapers

Newspaper Articles (1)

1. July 17, 1932 Wisconsin State Journal Madison, WI

Article from Wisconsin State Journal, July 17, 1932

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Article Text

May Issue Capital City (Continued from page paid 10 per cent dividends for years. strength was generally Building Ideal "With great closed. The building banking. state ideal through its different the instituappears, tion even before closed. small depositors made run bank was worth more to the Security State bank than to anyone gave Madison another with central and branch Security made an expensive appraisal and sound first offer. embarrassed in court in capitol until its "When creditors and urged the bank delay the hopeless that the be Efforts Naught" the offer which built up in the along the that had set forth the slam that that the had been possible the attorneys about its terms. The efforts establish sound bank along liquidation assets naught. member of the creditors' for ing. We are buffers for the capitol folks. view the am favor each deposit credigetting 100 cents on the dollar. Unless candidates the assembly and announce correct attitude this disposed the either the assembly or senate. Warren E. Hicks