22857. Bank of Prentice (Prentice, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 1, 1927
Location
Prentice, Wisconsin (45.546, -90.287)

Metadata

Model
gpt-5-mini
Short Digest
360bbb4f

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (dated Mar 1–2, 1927) report the Bank of Prentice 'ceased business' and was suspended because 'poor wartime loans ... deteriorated into losses and frozen assets.' No run is reported on this bank (a brief run is mentioned for the State Bank of Kennan, a different institution). Articles state plans for reorganization are indefinite but do not report a reopening; classification chosen as suspension_closure because the bank ceased business and no reopening is described (some uncertainty about permanent outcome noted).

Events (1)

1. March 1, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Poor wartime loans that deteriorated into losses and frozen assets led to suspension/cessation of business at the Bank of Prentice.
Newspaper Excerpt
Poor wartime loans which have deteriorated into losses and frozen assets caused the suspension of the bank of Prentice. Plans for reorganization are as yet indefinite.
Source
newspapers

Newspaper Articles (4)

Article from The Merrill Daily Herald, March 1, 1927

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Article Text

Two Banks Have Closed PRENTICE Two Price county banks have ceased business. Following a brief 'run" the State Bank of Kennan was forced to close, being unable to meet further demands. Loss of the depositors has not been determined. It is said that liquidation is being considered. Poor time loans which have deteriorated into losses and frozen assets caused the suspension of the Bank of Prentice. Plans for reorganization are as yet indefinite.


Article from The Oshkosh Northwestern, March 1, 1927

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Article Text

BANKS CEASE BUSINESS (By United Press. Prentice, Wis.-Two Price county banks have ceased business. Following brief "run" the State bank of Kennan was forced to close, being unable to meet further demands Loss of the depositors has not been determined It is said that liquidation is being considered. Poor was time loans which have deteriorated into losses and frozen assets caused the suspension of the bank of Prentice. Plans for reorganization are as yet indefinite.


Article from Stevens Point Journal, March 1, 1927

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Article Text

Banks Closed in Price County United Press) Price county banks have ceased business/ lowing brief the State Bank Kennan forced close, being unable to meet further the depositors been determined that liquidation is being considered. Poor war time loans which have teriorated into losses and frozen caused the Bank of Prentice. Plans for ganization


Article from Kenosha News, March 2, 1927

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Article Text

State Briefs (By United Press) Prentice Price county banks censed Following brief "run" the state bank of Kennan was forced to close, being unable to meet further demands. Loss of the dehas not been It is said that liquidation is being considered. Poor was time loans which have deteriorated into losses and frozen assets caused the of the bank of Prentice. Plans for reorganization are as yet indefinite Medford- Reverman of the diocese has approved plans for the construct of Catholic parochial school in this city The build ing will be on a site adjoining the Holy Rosary church and will cost about $50,000. increase In the wage schedule above the present rate of $1 an hour is by Milwaukee carpenters to take effect following expiration of expiring April 1, it was learned here today. Eagle River Reconstruction of large power dam at Ot. ter Rapids, which was damaged by flood last is under way. This city recently voted a bond issue of $53,000 to finance the project. Medford- Retesting of Taylor county cattle for tuberculosis has been practically completed by state veterianimals have been and of this number only 55 were found to be reactors. Shawano-Within recent weeks the population of the county jail an unusual increase. At present are eleven prisoners held there either under sentence or await ing disposition of their cases in court. Rhinelander of the Apex Fabricating and Manufacturing company of New York have announced they will move their plant to Three Lakes, Onieda county. The chief prodnet of the company is aluminum ware and the plant will employ between 60 to 100 men. The company is subsidiary of one of the national chain store systems through which its entire output is distributed. Washburn- the age of nearly 90 years, Teabod, civil war veteran. died at his home here. During the early days he was an Indian fighter in the Dakotas. With his death only two of the Civil war remain in this city.