Arcola State Bank - Arcola, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1927*
Location: Arcola, Illinois (39.685, -88.306)

Metadata

Model: gpt-5-mini
Short Digest: 985dab20

Response Measures

None

Description

Newspaper articles report the Arcola State Bank was closed in February 1927 and later had a receiver approved (May 21, 1927). No article describes a depositor run prior to the suspension; the bank was declared defunct and a receiver appointed, with planned partial distribution to depositors. Cause of suspension not specified in the articles.

Events (2)

1. February 1, 1927* Suspension

Cause Details: Article only states the bank closed in February 1927; no cause (e.g., insolvency or run) is specified.
Newspaper Excerpt: the defunct Arcola State bank which was closed February
Source: newspapers

2. May 21, 1927 Receivership

Newspaper Excerpt: ARCOLA. May 21-Arrangements being made ... the defunct Arcola State bank ... The receiver ... approved as receiver by Judge Boggs week, and given pow... T. E. Lyons, trustee of the bank approved as receiver by Judge Boggs ... appointed as appraisers of the property be Returns Decatur Father Toomey ... first payment will be 15 cents on the dollar.
Source: newspapers

Newspaper Articles (2)

1. May 22, 1927 Herald and Review Decatur, IL

Article from Herald and Review, May 22, 1927

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Article Text

APPROVE ARCOLA BANK RECEIVER First Payment to Be Fifteen Cents on Dollar: Court Appoints Appraisers ARCOLA. May 21-Arrangements being made make first ments depositors of the defunct Arcola State bank which was closed February in near future. The receiver that the first ment will be 15 cents on the dollar. T. E. Lyons, trustee of the bank approved as receiver by Judge Boggs week, and given powcollect and compound debts. and personal property and real terms as the court may approve. Mell Crew of Arcola, Grover Helm Tuscola and John Poorman Humbolt appointed as appraisof the property be Returns Decatur Father Toomey pastor of the Catholic in Arcola has returned where he has in the hospital for the past two An examination showed he from an affection of the bones of the and will probablya require an operation for reMike McCafferty has been very seriously 111 this week to the Mayo clinic at Rochester, Minn., for Mr. and Mrs. John Lyons and sons of Dallas, Texas. are visiting at the home of his mother. Mrs. Lizzie ons John been employed the offices the M. K. raliroad for number of years at

2. June 25, 1927 JG-TC: Journal Gazette and Times-Courier Mattoon, IL

Article from JG-TC: Journal Gazette and Times-Courier, June 25, 1927

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Article Text

PLOW IS BITTEN BY RACER SNAKE June Moore, year old Moore, Salem, arm by blue racer snake times before succeeded ing the reptile. He was plowing his father's farm, and the snake, which about three feet long, crawled up of his The medical attention and effect expected, the racer said be not polsonous. Agency and and George with the Union Trust and the family been long residents this and their hosts friends sincerely regret they are leaving the Mr. Mrs. Groves and daughter Kathryn will leave Arcola days for Hoquaim, Wash., where they will make home for time. Since the closing the Arcola State Bank, which Mr. Groves he has Lyons, receiver the bank, but ranging Mrs. Will McMillin, Mrs. James Breedlove, Cora James Davidson, Mrs. Lester Lucile Mrs. Moyer, Mrs. members of the Arcola Shrine attended the Southern Illinois White Shrine Mattoon Tuesday ening. They present at the the afternoon.