22697. Citizens National Bank (Merrill, WI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
10176
Charter Number
10176
Start Date
January 31, 1933
Location
Merrill, Wisconsin (45.181, -89.683)

Metadata

Model
gpt-5-mini
Short Digest
07b28c91

Response Measures

None

Description

The Citizens National Bank of Merrill suspended business Jan 31, 1933 under a mayor-declared business holiday to protect depositors. Articles later (Feb 9) report depositors approving a deferred payment/waiver plan, indicating the bank pursued a moratorium and was on track to resume operations. No run is described in the articles; the suspension was prompted by a local government-declared holiday and followed by a deferred payment plan.

Events (4)

1. April 13, 1912 Chartered
Source
historical_nic
2. January 31, 1933 Suspension
Cause
Government Action
Cause Details
Mayor W. H. Aubuchon proclaimed a business holiday; board voted to suspend for a 30-day period to protect depositors.
Newspaper Excerpt
The Citizens National bank suspended business today for thirty-day period. Harry Heineman, president, announced the board of directors had voted to take advantage of holiday proclaimed by Mayor W. H. Aubuchon. The proclamation stated that action was taken to protect depositors of the institution.
Source
newspapers
3. February 9, 1933 Other
Newspaper Excerpt
About 500 Merrill depositors of the Citizens National bank, which suspended business Jan., approved deferred payment plan last night. ... In the event of sickness, death or emergency depositors be allowed withdraw [a percentage] of their money held by the bank. Depositors not facing unusual emergencies would receive smaller percentages of their deposits for an extended period. (approval of deferred/waiver plan).
Source
newspapers
4. April 20, 1933 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (5)

Article from The Oshkosh Northwestern, January 31, 1933

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Article Text

SAYS ALLOTMENT PLAN WOULD MAKE PRICES OF FOOD PRODUCTS HIGHER G Vosburgh D. that the plan would place and pork high in the nation's for the consumer reach before today miller and livestock The agriculture committee Fred Lingham of Lockport N Y representing the miller's national federation that the would turn of the of Will Topeka of to that the bill would pork would he yet hog favored the allotment Are with big meat McNary Oregon Absolutely not The packers opposed the terday The feature of the bill would of of our The bill taxing the processor of selected farm price on his consumed output provided he production 20 A new addition farm plans made day by Senator Shipstead Farmerfor the refinancing of the entire farm which he estimated at more than 000.000. Under the plan the government would take over all farm giving the holder in turn federal bonds in years but callable after 30 years The government would grant the farmer moratorium payment and the debt would be amortized by small principal and interest payments over 46-year BANK HOLIDAY AT KIEL IS DECLARED Madison A business holiday has been declared by the two banks Kiel. Wis the state banking department said today The bank the State bank of kiel, and the Citize State bank of Kiel The banking department said its records did not show how long the holiday period will be BANK CLOSES Merrill, Wis. The Citizens National bank suspended business today for day period. Harry Heineman president that the board of voted to take of holiday proclaimed by Mayor W H. Aubuchon The lamation stated that taken to protect depositors institution The Lincoln County bank remained open for usual did the American State bank which operating under CLOSED BY STATE Milwaukee The bank department today closed Hopkins Street State neighborhood institution Roland Teske director pressed belief that every depositor will be paid in full. Schaefer of the Wisconsin banking depart ment termed the closing more of liquidation than suspension. Heavy withdrawals Schaefer said reduced deposits from $660,000 June, 1931, to about $96,000 and of ficials said that with such small sum it longer possible to operate profitably Have You Tried Our Want Ads?


Article from Wausau Daily Herald, January 31, 1933

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Article Text

State Bank Reopens Today at Waupaca Holiday Declared at Merrill For One Bank; Two Others Remain Open Waupaca, Jan The Fat mers' State bank. which suspended business Saturday reopened today The city other bank the Waupac cials predicted will reopen soon under a waiver plan Merrill, Jan 31 The Citi zens' National bank suspended but iness today for thirty-day period Harry Heineman president nounced the board of directors had voted to take advantage of proclaimed by Mayor W. H Aubuchon. The mayor proc lamation stated that action was ta ken depositors of the in stitution The Lincoln bank remained open usual business as did the American State bank which operating under de ferred payment plan Madison Jan 31.-(P)- A business holiday has been declared by the two state banks at Kiel the state banking department said todak The banks are the State Bank of Kiel and the State bank of Kiel The banking department said its records did not show how long the holiday period will be


Article from The Capital Times, January 31, 1933

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Article Text

Citizens' National Closes at Merrill Bank Directors Take Advantage Mayor's Holiday Plan MERRILL. Citizens National suspended business day for period. Harry Heineman, president. announced that the board directors had voted to take advanatge holiday" claimed by Mayor H. Aubuchon The mayor's stated that action was taken protect depositors the The Lincoln County remained open for usual business. did the American State which operating under deterred payment plan. Waupaca Bank Reopens FarmState bank. which suspended reopened today The other the Waupaca National. remained but predicted will reopen seen under waiver plan. Close Milwaukee Bank state banking department today closed the Hopkins Street State bank. neighborhood Roland Teske. director. expressed belief that depositor will full. Schaffer of the Wisconsin banking termed the closing more liquidation than


Article from Green Bay Press-Gazette, February 9, 1933

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Article Text

DEPOSITORS AT MERRILL APPROVE BANK'S PLAN About 500 MERRILL depositors of the Citizens National bank. which suspended business Jan approved deferred payment plan last night. Approval of other sought was agreed that in the event of sickness, death emergency depositors be allowed withdraw per cent of their money held by the Depositors not facing would receive smaller percentages of their deposits an extended The American State bank here aloperating under deferred ready payment while the Lincoln County never obliged to adopt moratorium plan.


Article from The Oshkosh Northwestern, February 9, 1933

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Article Text

APPROVE DEFERRED PAYMENT PLAN FOR BANK AT MERRILL Merrill, Wis. About 500 positors the Citizens' National bank which suspended Jan approved deferred payment plan last night Approval of other tha the event of sickness. death other emergency be allowed withdraw of their money held the bank Depositors not unusual emergencies would percentages of their deposits extended period The State bank here ready operating under deferred payment while the Lincoln County bank never was obliged to plan