22886. State Bank (Roberts, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 7, 1931
Location
Roberts, Wisconsin (44.984, -92.556)

Metadata

Model
gpt-5-mini
Short Digest
3ddea11d

Response Measures

None

Description

Multiple newspapers (Jan 7–14, 1931) report the State Bank of Roberts 'failed to open' / 'closed' and officers turned affairs over to the state banking department. There is no explicit description of a depositor run on this specific Roberts bank in the texts (heavy withdrawals are described for Monroe, not Roberts). The state department did not formally 'suspend' the bank according to the articles, but the bank did not open and was turned over to the department, consistent with a suspension that resulted in closure. Cause is not specified in the articles, so categorized as 'other'.

Events (1)
1. January 7, 1931 Suspension
Cause Details
Articles report the bank 'failed to open' and officers turned affairs over to the state banking department; no specific trigger (no run or insolvency detail) is given.
Newspaper Excerpt
the State Bank of Roberts at Roberts, Wis. failed to open Wednesday, the state banking department announced.
Source
newspapers

Newspaper Articles (4)
1. January 7, 1931 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, January 7, 1931

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Article Text

SCHOOLS TO PAY BYRD TRIBUTE Students to Send Greetings to Explorer. Des Moines school children will co-operate in a move to pay tribute to Rear Admiral Richard E. Byrd when he speaks before the department of superintendence at Detroit, J. W. Studebaker, superintendent of schools here, announced Wednesday. School children from every state will send letters of greeting to the/explorer. One letter will be sent from each school in Des Moines. The formulating of the letters will afford students an opportunity to study historic and scientific results of the polar explorations of Admiral Byrd. BANK SUSPENDS PAYMENT. The Tribune's Iowa News Service.) LAMOTTE-The Iowa Savings bank here suspended payment late Tuesd by order of the board of directors The bank is capitalized nt $40.000 and has deposits of $360,000. according to W M. Hayes vice president M Mahoney is president. Lamotte is in Jackson county. 2 WISCONSIN BANKS CLOSED. banks, the Citizens' Bank of Monroe. and the State Bank of Robcrts at Roberts, Wis. failed to open Wednesday, the state bank ing department announced. The Monroe bank had deposits of $1.363,000. while the Roberts institation amounted to $67,500. MYSTIC BANK CLOSED. MYSTIC. IA. (P)-The Mystic Industrial Savings bank closed Wednesday and was placed in the hands of receiver report to the state banking department last June showed deposits of $175,000.

2. January 7, 1931 The Capital Times Madison, WI
Article from The Capital Times, January 7, 1931

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Article Text

Monroe Large Bank Closed By Withdrawals Citizens' Bank Had Deposits Over Million; Roberts, Wis., Bank Closes the Citizens' Bank Two banks. and the State Bank of Roberts Roberts. Wis. with total deposits of nearly failed the state banking departopen ment announced. bank had deposits totalThe Monroe while Roberts instiing tution's amounted to $67,500. heavy withdrawal of deposits sulted the closing of the Monroe in yesterday. The directors decided close the institution although cash reserve on hand. bankthey had ing commissioner. Schwenker, said. The Monroe bank. organized in 1883. at $100,000 and had was capitalized surplus of $50,000 Undivided profits at $62,500. Knight were listed of the institution. Other officers are Bolender, vice president and H. Durst, cashier. The state bank of Roberts was organized 1903 with $4,000. W. H. $10,000. Its surplus and F. D. Ash, Ash president cashier. Neither bank was suspended by the state banking department. Mr. Schwenofficers of both instituker said. The voted to turn over their affairs tions to the department. Confidence was expressed today that speedy reorganization would be effectMonroe bank. More than for the 100 people own stock in the bank. None the depositors of the Monroe estimated between 2,800 and bank, was expected to suffer heavy losses. Deposits were distributed in many small amounts. according to Mr. Durst. City funds of $5,298 on deposit were protected by $50,000 surety bond raised by stockholders. The county's share in the tax receipts and school fund moneys were turned over the city treasury and will not be affected. Durst The closing of the bank was forecast Saturday when approximately $40.000 was withdrawn. the cashier said Withdrawals continued steadily on Monday and Tuesday and the director decided to call in the banking commission to effect This was the first bank closing record in Monroe and the third ever closed in Green county. trading center for rich agricultural and manufacturing territory.

3. January 7, 1931 The Capital Times Madison, WI
Article from The Capital Times, January 7, 1931

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Article Text

Large Monroe Bank Closed By Withdrawals Citizens' Bank Had Deposits Over Million; Roberts, Wis., Bank Closes Two banks, the Citizens' Bank Wis., and the State Bank Roberts Roberts, with total posits nearly failed open today, the state banking department announced. Monroe bank had deposits totaling while the Roberts institution's amounted to heavy withdrawal of deposits sulted the closing the Monroe bank The cided to close the institution although they had cash on hand. banking Schwenker, said The Monroe bank, organized 1883, was capitalized $100,000 and had surplus of profits were listed at $62,500. W. Knight president of the institution. Other officers president and Durst, cashier. The state bank of Roberts ized 1903 with Its surplus $4,000. W. H. Ash president and Ash, Neither bank was suspended by the state banking department, Mr. Schwenker said. The officers of both institutions voted to turn over their affairs the department. Confidence was expressed today that speedy would be effectfor the Monroe bank. More than 100 people own stock in the bank None the depositors of the Monroe bank, estimated between 2,800 and was expected to suffer heavy Deposits were distributed in many small according Mr. City funds of deposit were protected $50,000 surety bond raised The county's share the tax receipts and school fund turned over daily to the city treasury and will not Durst The closing the bank was forecast when approximately cashier said. Withcontinued steadily on Monday and Tuesday and the decided to call in the banking commission effect This was the first bank closing record in Monroe and the third ever closed Green trading center for rich and cheese manufacturing territory.

4. January 14, 1931 Platteville Witness Platteville, WI
Article from Platteville Witness, January 14, 1931

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Article Text

Two More Banks Suspend Wednesday Two banks, the Citizens' Bank of Monroe, Wis., and the State Bank of Roberts at Roberts, Wis. with total deposits of nearly $1, failed to open Wednesday, the state banking department announced. The Monroe bank had deposits totaling $1,363,000, while the Roberts institution's amounted to $67, Neither bank was suspended by the state banking department, Mr. Schwenkr said. The officers of both institutions voted to turn over the ir affairs to the department.