State Bank - Sciota, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1932*
Location: Sciota, Illinois (40.561, -90.752)

Metadata

Model: gpt-5-mini
Short Digest: 4b9ccf3b3ac6e0d9

Response Measures

None

Description

Article (Feb 11, 1932) states the Sciota State Bank is closed and in receivership (receiver Jas. H. Foster) and has made distributions (10% check mailed last week; 35% total paid since closing). No run is mentioned. Therefore this is a suspension/closure with receiver appointed.

Events (2)

1. February 1, 1932* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had closed and been placed in receivership; distributions to depositors indicate insolvency/failure.
Newspaper Excerpt: Checks for 10 per cent of their deposits were mailed last week to depositors of the Sciota State bank by receiver Jas. H. Foster. The total distribution was approximately $13,000. To date that bank, since closing, has refunded a total of 35 per cent of its indebtedness to depositors.
Source: newspapers

2. * Receivership

Newspaper Excerpt: by receiver Jas. H. Foster... To date that bank, since closing, has refunded a total of 35 per cent of its indebtedness to depositors
Source: newspapers

Newspaper Articles (1)

1. February 11, 1932 The Raritan Reporter Raritan, IL

Article from The Raritan Reporter, February 11, 1932

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Article Text

Items of Interest Calvin Thompson is seriously ill at his home in Roseville. Mrs. Lydia Stewart of Stronghurst, a former resident of the west Raritan country, is nearing her 93rd birthday. She is poorly. Next Monday will be Washington's birthday. Since it marks the two-hundredth anniversary of his birth it is to be celebrated with eclat throughout the United States. Two persons were injured in a windstorm which destroyed a school house and several dwellings at Mapleton, Illinois, a town on the T., P. & W. railway west of Peoria, last Thursday. The wind blew terriffically in Raritan and vicinity but no damage to property is reported. Checks for 10 per cent of their deposits were mailed last week to depositors of the Sciota State bank by receiver Jas. H. Foster. The total distribution was approximately $13,000. To date that bank, since closing, has refunded a total of 35 per cent of its indebtedness to depositors.