Peoples State Bank - Cissna Park, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 1, 1931
Location: Cissna Park, Illinois (40.565, -87.893)

Metadata

Model: gpt-5-mini
Short Digest: e4adb0e7

Response Measures

None

Description

State banking department closed the bank after an examination revealed its condition; an examiner was placed in charge. Article notes heavy withdrawals recently but closure was by state action. No mention of reopening.

Events (1)

1. August 1, 1931 Suspension

Cause: Government Action
Cause Details: Closed by the state banking department after a regular examination revealed the bank's condition; examiner placed in charge.
Newspaper Excerpt: The Peoples' State Bank of Cissna Park was closed last Saturday by the state banking department. after the regular examination revealed the condition of the bank. H. H. Lane of Springfield, state bank examiner was placed in charge of the
Source: newspapers

Newspaper Articles (1)

1. August 6, 1931 The Piper City Journal Piper City, IL

Article from The Piper City Journal, August 6, 1931

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Article Text

Cissna Park Bank Closed The Peoples' State Bank of Cissna Park was closed last Saturday by the state banking department. after the regular examination revealed the condition of the bank. H. H. Lane of Springfield, state bank examiner was placed in charge of the The people's State Bank was or. ganized six years ago and was capitalized at $25,000. S. L. Brumback was president and Miss Luella Rose, cashier. A new bank building was erected. Mr. Brumback it is said, blames the closing of the bank to heavy withdrawals during the last few weeks. He also stated that he pelieved depositors would be paid in full. The closing did not cause a run on the other bank in Cisena Park, The Iroquois County State Bank.