State Bank - Annawan, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1927*
Location: Annawan, Illinois (41.397, -89.905)

Metadata

Model: gpt-5-mini
Short Digest: 9c452b9e1e36b01c

Response Measures

None

Description

Articles state the Annawan State Bank closed its doors in 1927 by action of the state auditors and receivers were later handling assets and paying county claims (as of 1930). No run is described. Classified as a suspension followed by permanent closure/receivership (suspension_closure).

Events (3)

1. January 1, 1927* Receivership

Newspaper Excerpt: the receivers of the former Annawan and Hooppole State banks ... The Annawan bank receivers ... will pay to Carl Peterson the sum ... The banks closed their doors 1927 ... the banks were closed by the state auditors.
Source: newspapers

2. January 1, 1927* Suspension

Cause: Government Action
Cause Details: Closed by state auditors in 1927 (regulatory action)
Newspaper Excerpt: The banks closed their doors 1927 ... the banks were closed by the state auditors.
Source: newspapers

3. July 29, 1930 Other

Newspaper Excerpt: Charles Searle in circuit court yesterday afternoon approved the report of the Bartlett Grey, and the receivers of the former Annawan and Hooppole State banks to pay money due to the county
Source: newspapers

Newspaper Articles (1)

1. July 29, 1930 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, July 29, 1930

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Article Text

HENRY COUNTY TO COLLECT Sum of $82,170 will Be Paid Closed Banking Institutions Annawan and Hooppole. (Special to The Cambridge, III., July Charles Searle in circuit court yesterday afternon approved the report of the Bartlett Grey, and the receivers of the former Annawan and Hooppole State banks to pay money due to the county The Annawan bank receivers, Calhoun, will pay to Carl Peterson the sum plus The receiver the Hooppole bank, Benniswill pay about $18,000, to Mr. Peterson. The banks closed their doors 1927 with the county funds on deposit. These funds were collected by the banks acting deptax collectors. the doors the banks were closed by the state auditors, Treasurer Carl Peterson started suit to establish prior claim on the funds, claiming that they were in the bank merely collector trust and not regular deposit. Mr. Peterson lost the first contest the circuit court, but appealed the court, where the sion of the lower court was versed and the case handed back the circuit court for the order the The next move the case came when attorneys the receivers of the banks asked the county show proof that the funds were on deposit. The hearings of proof held before Master Chancery Bartlett Grey. returned devision favor of the county treasurer.