Citizens State Bank - Stanley, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 10, 1932
Location: Stanley, Wisconsin (44.960, -90.937)

Metadata

Model: gpt-5-mini
Short Digest: 9893d950

Response Measures

None

Description

Article (Leader-Telegram, 1932-12-11) reports Citizens State Bank of Stanley failed to open its doors Saturday morning and affairs were turned over to the state banking department. Closure appears permanent (turned over to state dept.). Cause appears to be shrinkage of deposits following closures of nearby Owen and Withee banks rather than a discrete depositor run or single misinformation event.

Events (2)

1. December 10, 1932 Receivership

Newspaper Excerpt: The affairs of the bank were turned over the state banking department, and reorganization plans rest largely with the department.
Source: newspapers

2. December 10, 1932 Suspension

Cause: Local Banks
Cause Details: General shrinking of deposits and receipt of 60-day withdrawal notices following the closing of the Owen and Withee banks about two months earlier; management closed to protect depositors.
Newspaper Excerpt: STANLEY BANK CLOSES DOORS ... Citizens State bank of Stanley failed to open its doors Saturday morning ... The affairs of the bank were turned over the state banking department
Source: newspapers

Newspaper Articles (1)

1. December 11, 1932 Leader-Telegram Eau Claire, WI

Article from Leader-Telegram, December 11, 1932

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Article Text

STANLEY BANK CLOSES DOORS CHIPPEWA zens' State bank of Stanley failed open its doors Saturday morning, an taken by the board of meeting Friday night. The affairs of the bank were turned over the state banking department, and reorganizaton plans rest largely with tne department. Embert Roe, acting president, said Saturday that action was takprotect depositors. A general shrinking deposits and receipt 60-day withdrawal notices since closing of the Owen and Withee banks two months made the course advisable, Mr. Roe declared. There or sudden demands, stated.