Central Republic Bank & Trust Company

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 1, 1922*
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 9e98cf53

Response Measures

Full suspension

Other: Article is brief; mentions prolonged run forced the bank to close two months after 1922 loan. No detail on receivership or clearinghouse action.

Description

Article states a prolonged run in 1922 forced the bank to close two months after an $80,000,000 loan was negotiated. No reopening is mentioned; the closure appears permanent. Exact dates not provided, so year 1922 is used with unknown month/day.

Events (2)

1. January 1, 1922* Run

Cause: Bank Specific Adverse Info
Cause Details: Prolonged withdrawals following difficulties around the bank linked to its large loan and subsequent insolvency pressures.
Newspaper Excerpt: A prolonged run forced the bank to close two months after the loan was made.
Source: newspapers

2. January 1, 1922* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed following the prolonged run and inability to meet obligations after the large loan and resulting liquidity/solvency strain.
Newspaper Excerpt: A prolonged run forced the bank to close two months after the loan was made.
Source: newspapers

Newspaper Articles (1)

1. November 20, 1934 Redwood City Tribune Redwood City, CA

Article from Redwood City Tribune, November 20, 1934

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Article Text

Dawes Bankers Sued Over Federal Loan CHICAGO, Nov. 20 (UP)-Stockholders of the Central Republic Trust Company, headed by former Vice President Charles G. Dawes, today faced the prospect of having to dig up $14,000,000 from their own pockets to pay a part of $60,476,437 due the Reconstruction Finance Corporation. The sum due the federal loan agency is the unpaid balance of the famous $80,000,000 loan negotiated by General Dawes in 1922 for the Central Republic Bank & Trust Company, of which he was chairman, shortly after he retired as head of the RFC. A prolonged run forced the bank to close two months after the loan was made.