4442. State Bank (Orion, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 5, 1932
Location
Orion, Illinois (41.355, -90.382)

Metadata

Model
gpt-5-mini
Short Digest
048f500ee638b2fa

Response Measures

None

Description

Two distinct events appear in the articles. Article 1 (1932-04-05) reports actions by a receiver for the Orion State Bank (indicating the bank had been closed and placed in receivership). Article 2 (1933-03-28) reports the State Bank of Orion reopening after the state and national banking holiday in March 1933. It's unclear whether the 1933 reopening relates to the 1932 receivership (they may be separate episodes or the bank may have reorganized). For the purposes of this episode summary I record both the 1932 receivership/closure actions and the 1933 suspension (banking holiday) followed by reopening. OCR errors in Article 1 (e.g., garbled text) were corrected when extracting meaning.

Events (3)
1. April 5, 1932 Receivership
Newspaper Excerpt
Arthens, the Orion State bank, filed seven confesin force payments loans made by the closed bank. ... judgments will be entered.
Source
newspapers
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Observed the state and national banking holiday (banking holiday in March 1933).
Newspaper Excerpt
State Bank of Orion reopened this morning, without restrictions, having been observing state and national banking holiday since March ...
Source
newspapers
3. March 28, 1933 Reopening
Newspaper Excerpt
State Bank of Orion reopened this morning, without restrictions, having been observing state and national banking holiday since March ...
Source
newspapers

Newspaper Articles (2)
1. April 5, 1932 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, April 5, 1932

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Article Text

Orion Bank Receiver To Obtain Judgments (Special to The Argus.) Cambridge, April Arthens, the Orion State bank, filed seven confesin force payments loans made by the closed bank. The were filed for the June court and judgments will be entered.

2. March 28, 1933 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, March 28, 1933

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Article Text

REOPENS No Restrictions Henry County Institution Resumes Business This Morning: (Special to The Argus.) Orion, March State Bank of Orion reopened this ing, without restrictions, having been observing state and national banking holiday since March Walker W. Kerr. cashier, receivcommunication from Edward Barrett, auditor of public accounts, at midnight last night, authorizing the institution to sume business this morning. would have reopened some time ago but for the delay sioned getting from the state auditor's office, which has been flooded with work since the state holiday clared,' one of the bank's officials Henry county now has five banks operating. Besides the Orion bank, the two national institutions Geneseo and the state banks at and Osco are open.