4141. Farmers National Bank (Cambridge, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2572
Charter Number
2572
Start Date
February 1, 1933
Location
Cambridge, Illinois (41.304, -90.193)

Metadata

Model
gpt-5-mini
Short Digest
0674bd19

Response Measures

None

Receivership Details

Date receivership started
1933-10-27
Date receivership terminated
1934-07-27
Share of assets assessed as good
100.0%

Description

A two-week bank holiday (suspension) was declared by the mayor in early February 1933; subsequent articles (1934) refer to a receiver (Leo Middendorf) of the local Farmers' National Bank, indicating the bank did not resume normal independent operations and was placed in receivership. No explicit run is described in the articles provided.

Events (6)

1. October 10, 1881 Chartered
Source
historical_nic
2. February 1, 1933 Suspension
Cause
Government Action
Cause Details
Mayor John H. Gault declared a two-week bank holiday for the Farmers' National Bank in Cambridge; announced meeting of depositors to discuss plans.
Newspaper Excerpt
two weeks' bank holiday declared Monday morning by Mayor John H. Gault.
Source
newspapers
3. October 27, 1933 Receivership
Source
historical_nic
4. July 27, 1934 Restored To Solvency
Source
historical_nic
5. September 12, 1934 Voluntary Liquidation
Source
historical_nic
6. September 19, 1934 Receivership
Newspaper Excerpt
the former receiver of the local Farmers National bank has been ... Mr. Middendorf was receiver the local bank until its ... Peoples National bank Cambridge.
Source
newspapers

Newspaper Articles (3)

Article from The Rock Island Argus, February 2, 1933

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Article Text

Bank Depositors to Meet at Cambridge (Special to The Argus.) Cambridge, III., Feb. meeting of the depositors the Farmers' National bank Cambridge has been called for tomorrow night at the court house o'clock, to discuss plans for the of two weeks' bank holiday declared Monday morning by Mayor John H. Gault. No announcement has been made as to the plan to be presented.


Article from The Dispatch, January 5, 1934

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Article Text

CAMBRIDGE Moline Dispatch North Prospect Street MORRIS. EDITOR Telephone Jan. and Mrs. Cambridge, and daughter, Miss Douglas Anna Douglas, returned yesterday afternoon after spending several weeks the states. They visited Mr. and Mrs. Dale Douglas Arkansas spent the holidays New Orleans. The bank receiver, Leo Middendorf, former cashier the Farmers' National bank, and Rishel, Rosenstone, Frank Wilson and Leslie Hunt were in Chicago yesterday, where transacted business. Cambridge trapshooting associciation will hold shoot Sunday ternoon the club of Cambridge. There will be and practice events. Traps will open o'clock. Miss Gladys Gay and Duford Payne Pekin guests of the week of Mr. and Mrs. first Harvey Hagg. Miss Ione Johnson, daughter Mr. and Mrs. Leonard Johnson of Ulah, employed assistant school nurse at Muscatine, Ia. She graduate of training school Luke's hospital in has been spending her vacation parents. Carl Johnson of Sheridan, arrived recently to visit his uncle and aunt, Mr. and Mrs. David Lindquist, with other relatives Cambridge and Geneseo. Yesterday other guests of the Lindquists Carl's sisters, Miss Esther Johnson of Davenport and Miss Evelyn Johnson of Moline. The family formerly resided in Munson township but the children were separated for and this years reunion of the two sisters and brother. Mrs. Kirkland and daughElizabeth yesterday for Troy, where Mrs. Kirkland teacher in the Emma school. They spent the holidays in Cambridge Mr. Kirkland and other The Rev. and Mrs. M. Beger Bloomington spent the first of week with friends Cambridge. Their daughter, Zona Louise, who had been visiting here, returned to Bloomington with them. Mrs. Glenn Brainard and daughter left today for Milan, after spending the holidays with Mrs. Brainard's mother, Mrs. Frank Johnson. Miss Olena Cole went to Carmel, yetserday. She teaches in the Drew seminary. Daughters Ruth organization will meet Monday January with Miss Vera Hamilton. sistant will Miss FlorSwanson and Mrs. Vinckel. Devotional leader will be Miss Ruth Nelson. Mrs. Palmer Roy will in charge the mission study, Cecil Grammis leader and Grace Olson will be program leader.


Article from The Rock Island Argus, September 19, 1934

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Article Text

Bank Receiver Named As Executive in Quincy (Special to The Cambridge, Sept. former receiver of the local Farmers National bank has been cashier the Peoples National bank Quincy, cording to reports reaching here yesterday. Mr. Middendorf was ceiver the local bank until its Peoples National bank Cambridge.