4335. National Bank (Mattoon, IL)

View Charter #10045 on SPMC

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
national
Bank ID
10045
Charter Number
10045
Start Date
January 23, 1932
Location
Mattoon, Illinois (39.483, -88.373)

Metadata

Model
gpt-5-mini
Short Digest
0fd846d1b08b9108

Response Measures

Public signal of financial health

Description

Newspaper articles (both 1932-01-23) describe heavy withdrawals/concern and reference a 'closed bank' and community committee visiting the National Bank of Mattoon to promote confidence. This indicates a run followed by at least a temporary suspension; the articles do not state whether the bank permanently closed or later reopened, so outcome is uncertain. Contagion from difficulties at nearby Urbana banks is mentioned, suggesting the trigger was distress of local banks.

Events (3)
1. June 29, 1911 Chartered
Source
historical_nic
2. January 23, 1932 Run
Cause
Local Banks
Cause Details
Panic/withdrawals tied to recent problems and actions involving nearby Urbana banks (mentions Busey State Bank and First National of Urbana); contagion created nervousness in Mattoon.
Measures
Community committee (Association of Commerce) appointed to promote confidence and to visit the bank; public appeals urging patrons not to withdraw funds
Newspaper Excerpt
uniting our efforts to bring conditions back to normal, and in the best way ... by not withdrawing your funds from the bank
Source
newspapers
3. January 23, 1932 Suspension
Cause
Local Banks
Cause Details
Bank was described as 'closed' in the article amid community panic linked to failures/troubles of other local banks; closure appears to be a suspension in context of contemporaneous local banking distress and investigations rather than government receivership stated explicitly.
Newspaper Excerpt
The officers of the closed bank expressed the opinion that ... pay depositors.
Source
newspapers

Newspaper Articles (2)
1. January 23, 1932 JG-TC: Journal Gazette and Times-Courier Mattoon, IL
Article from JG-TC: Journal Gazette and Times-Courier, January 23, 1932

Click image to open full size in new tab

Article Text

Mayor Gazette want suggest the the have wonderful work for regretted, course, the and Savings found necessary, as they believed, close that bank investigation and be hoped that will But nothgained becoming hysterical and doing things would not ordinarily. The officers of the closed bank expressed the opinion that that bank that means that pay depositors. far am personally cerned, absolute confidence the ability of the National Bank of Matteon hanthe situation this city the satisfaction patrons the We must all best bank. uniting our efforts to bring conditions back to normal, and in the best way my by not withdrawing your funds from the bank, for

2. January 23, 1932 JG-TC: Journal Gazette and Times-Courier Mattoon, IL
Article from JG-TC: Journal Gazette and Times-Courier, January 23, 1932

Click image to open full size in new tab

Article Text

members the Association of Commerce cial today noon the Hotel Grant made definite plans promote feeling of confidence throughout community. mittee seven was appointed call the Central Illinois Trust and Savings Bank and express fidence its solvency and to visit the National Bank Mattoon and any way The committee appointed composed of Mayor Bills, Frank Milligan, Anthony Gorman, Sam Miller. Ben man and Louis Meyer. Preceding the appointing of the committee the tened made by Webber, president of the Urbana Commerce, and Gus Radebaugh, one of the Urbana association committee heads, explaining procedure of Urbana this week the Busey State Bank and preventing the closing the First National of Urbana. Ben Overman, in the absence of Fred president of the local AsGrant, sociation of Commerce, presided the meeting.