Farmers Bank - Creston, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 28, 1933
Location: Creston, Illinois (41.931, -88.965)

Metadata

Model: gpt-5-mini
Short Digest: c7dcd22a

Response Measures

None

Description

Article (The Daily Chronicle, 1933-02-28) states the Farmers Bank at Creston is 'closed' and in liquidation with depositors receiving dividend checks. No run is mentioned; the bank appears to have suspended and entered liquidation (permanent closure). 'Voluntary liquidation' chosen because text references liquidation/dividend payments rather than an explicit government seizure.

Events (2)

1. February 28, 1933 Receivership

Newspaper Excerpt: the closed Farmers Bank at Creston ... during the liquid. amounts ... to Mr. Lundgren. The seven per cent made ... The total dividend has been paid during the liquid[ation].
Source: newspapers

2. February 28, 1933 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank is closed and undergoing liquidation; dividend checks to depositors and stockholders are being mailed.
Newspaper Excerpt: the closed Farmers Bank at Creston are due to receive checks amounting to cent dividend ... have been issued ... during the liquid.
Source: newspapers

Newspaper Articles (1)

1. February 28, 1933 The Daily Chronicle De Kalb, IL

Article from The Daily Chronicle, February 28, 1933

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Article Text

Creston Bank Has Out According the financial reports today the depositors of the closed Farmers Bank at Creston are due to receive checks amounting to cent dividend The checks placed in the mails terday according report said have been issued Creston bank Lundgren. The seven per cent made of cent the former active and three per cent from the stockholders The total dividend has been paid during the liquid. amounts per cent ing to Mr.