Farmers State Bank - Ashton, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 20, 1933
Location: Ashton, Illinois (41.866, -89.221)

Metadata

Model: gpt-5-mini
Short Digest: 23227c80

Response Measures

None

Description

Article (The Ashton Gazette, 1933-07-20) reports the Farmers State Bank is in liquidation with an appointed receiver (Earl W. Varty) carrying on liquidation. No article text describes a depositor run; the bank is being wound up under a receiver, so classified as suspension leading to closure/receivership.

Events (2)

1. July 20, 1933 Receivership

Newspaper Excerpt: Earl W. Varty, the receiver for the Farmers State Bank has filed his quarterly report with the court and the state banking department ... He is continuing in the capacity of receiver and carrying on the liquidation of the bank.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank placed in receivership and being liquidated by court/state banking department; suspended operations and under receiver.
Newspaper Excerpt: He is continuing in the capacity of receiver and carrying on the liquidation of the bank.
Source: newspapers

Newspaper Articles (1)

1. July 20, 1933 The Ashton Gazette Ashton, IL

Article from The Ashton Gazette, July 20, 1933

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Article Text

Bank Receiver Publishes Report Earl W. Varty, the receiver for the Farmers State Bank has filed his quarterly report with the court and the state banking department, a copy of which is published on page four of this issue. The statement reveals that over half of the stockholders' liability has been collected in addition to over thirty five thousand dollars worth of the bank assets. The two largest items paid out were for preferred claims and funds owed by the bank. Mr. Varty resigned his position as receiver of the bank nearly two months ago and auditors were sent here to go over the records of the bank which were found correct, but no intimation has been given when or by whom he will be succeeded. He is continuing in the capacity of receiver and carrying on the liquidation of the bank.