4637. Tampico State Bank (Tampico, IL)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
January 1, 1933*
Location
Tampico, Illinois (41.630, -89.786)

Metadata

Model
gpt-5-mini
Short Digest
da985edbc1728001

Response Measures

None

Description

Articles (Oct 19, 1933) describe the Tampico State Bank as closed with an appointed receiver (Albert Browne/Brown). Receiver submitted report and dividends are being paid to depositors after the bank's closing. No mention of a depositor run; the bank is in receivership and distributing assets, indicating a suspension that led to permanent closure.

Events (2)

1. January 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank was closed and a receiver appointed; liquidation/receivership proceedings are underway.
Newspaper Excerpt
Refund of Percent Will Be Made to Depositors Soon. ... Browne, receiver for the Tampico State bank ... total paid since the closing of the bank
Source
newspapers
2. September 30, 1933 Receivership
Newspaper Excerpt
Oct. Albert Tampico, Browne, receiver for the Tampico State bank, has submitted his report for eighteen months' ending Sept. 1933 ... The balance will permit dividend ... added the 10 percent already paid, total, will have been paid depositors of record the closing the bank.
Source
newspapers

Newspaper Articles (2)

Article from The Dispatch, October 19, 1933

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Article Text

Refund of Percent Will Be Made to Depositors Soon. Oct. Albert Tampico, Browne, receiver for the Tampico State bank, has submitted his port for eighteen months' ending Sept. 1933, to the positors' committee, and to percent dividend, which make total of 15 paid since the closing of the bank Browne's report shows the following: Receipts: From bond sales, overdrafts, items, etc. From payments notes. 32,583.51 From interest on notes and bonds Miscellaneous 4,274.50 Total receipts Disbursements: For bills payable and terest For preferred claims and state treasurer 29,623.68 For accrued expense prior to For expense due to ceivership 1,016.31 For operation mainte852.48 For receiver's salary and expense 2,743.03 For clerk and stenographer hire 1,895.00 For attorney fees and expense 4,195.52 For dividends 32,769.58 disbursements Balance Sept. 30, 7,835.13 Total disbursements plus balance hand The balance will permit dividend, and sufficient lections have from stockholders' to pay ditional percent, possible percent dividend. Checks being prepared, the total which will amount to Added the 10 percent already paid, total, will have been paid depositors of record the closing the bank. The recently authorized an audit of the records of the and this work has been completed by the auditors.


Article from The Dispatch, October 19, 1933

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Article Text

Five Whiteside County Men Get Letters from State Official. Prophetstown, Oct. all closed banks in Whiteside county, with exception of Ruckman of First Trust and Savings bank Sterling. asked resign in sent to them this week Ray Drennan, auditor charge of working from the of the state auditor of public accounts. The receivers Paul Carlson, Citizens' State bank Prophetstown. Albert Brown, Tampico State bank. Glenn Craddock, Lyndon State bank. McCall. Morrison State bank. John Kadyk, Whiteside CounState bank at Fulton. The letter received Mr. Carlwhich derstood to similar to those sent the other men, that the object of the request to consolidate receiverships the county der man. that Carlresignation become effective October tomorrow. Belief that Mr. Ruckman of Sterling will be appointed receiver for all banks strengthener the fact that he not asked to preparation rooms, and public system large crowds, when all can not be seated.