4139. Cambria State Bank (Cambria, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1930*
Location
Cambria, Illinois (37.781, -89.119)

Metadata

Model
gpt-5-mini
Short Digest
9877d60f

Response Measures

None

Description

The bank closed in April 1930 and was placed in receivership. A suit to dissolve the corporation was filed June 26, 1930; later the receiver was authorized to pay dividends (May 1931). No article describes a depositor run prior to suspension, so this is classified as a suspension leading to permanent closure/receivership.

Events (4)
1. April 1, 1930* Receivership
Newspaper Excerpt
Howard Hag(ler) Cambria receiver, which closed in April, 1930, $68,000 deposits.
Source
newspapers
2. April 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed in receivership due to liabilities/insolvency shown in bank statement (indicated by suit and receiver actions).
Newspaper Excerpt
which closed in April, 1930
Source
newspapers
3. June 26, 1930 Other
Newspaper Excerpt
FILE SUIT TO DISSOLVE CAMBRIA STATE BANK formal suit for the dissolution of the Cambria State Bank was filed ... Saturday by Attor... special counsel representing office of the attorney general.
Source
newspapers
4. May 10, 1931 Other
Newspaper Excerpt
Circuit Judge Hartwell authorized payment of dividend by Howard HagCambria receiver, which closed in April, 1930, $68,000 deposits.
Source
newspapers

Newspaper Articles (2)
1. June 26, 1930 Marion Weekly Leader Marion, IL
Article from Marion Weekly Leader, June 26, 1930

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Article Text

FILE SUIT TO DISSOLVE CAMBRIA STATE BANK formal suit for the dissolution of the Cambria State Bank was filed circuit court here Saturday by AttorZimmerman of Hurst, special counsel representing office of the attorney general. The suit cited the bank's statement showing in and the amount liabilities, and petitioned the court to Howard Hagler, the receiver, take all steps necessary close up the affairs of the bank and to dissolve corporate existence.

2. May 10, 1931 Evansville Press Evansville, IN
Article from Evansville Press, May 10, 1931

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Article Text

BANK DIVIDENDS TO END ILLINOIS TRADE SLUMP Many Closed Institutions to Pay Depositors many dollars Illinois ties stricken bank failures durto give cided upturn during the next weeks when banks hands receivers begin paying funds. West Frankfort, Centralia, rion and Cambria banks pay dividends on deposits Circuit Judge Hartwell authorized payment of dividend by Howard HagCambria receiver, which closed in April, 1930, $68,000 deposits. Large Due James, Marion Trust and Savings Bank also for ment dividend on the million in $70,000 is expectduring in West 10 per cent dividend clared the receiver for Frankfort State Bank. Several movements are on foot for of bank lease one the tirely buildings here and take care large amount business which going banks. There no bank here.