Farmers State Bank - Decatur, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 18, 1932
Location: Decatur, Illinois (39.840, -88.955)

Metadata

Model: gpt-5-mini
Short Digest: 3ae86553

Response Measures

None

Description

Article (Herald and Review, 1932-05-18) reports the Farmers State Bank of Decatur as closed and that a receiver (Van Gundy) posted bond and was appointed. The closure appears to have led to receivership following creditor actions and stockholder liability suits, indicating a permanent closure rather than a temporary suspension/reopening.

Events (2)

1. May 18, 1932 Receivership

Newspaper Excerpt: Receiver Van Gundy of Decatur ... receiver for the closed Farmers State bank posted $35,000 bond ... The bond signed by the American Surety Company ... Judge James Baldwin previously appointed Mr. Gundy ... enforce stockholders liability brought by Sarah Atteberry and creditors of the bank.
Source: newspapers

2. May 18, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Creditors' suit and stockholder liability action prompted enforcement and closure leading to appointment of a receiver.
Newspaper Excerpt: Receiver Van Gundy of Decatur ... receiver for the closed Farmers State bank posted $35,000 bond ... previously appointed Mr. Gundy ... enforce stockholders liability brought by Sarah Atteberry and creditors of the bank.
Source: newspapers

Newspaper Articles (1)

1. May 18, 1932 Herald and Review Decatur, IL

Article from Herald and Review, May 18, 1932

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Article Text

Receiver Van Gundy of Decatur. ceiver for the closed Farmers State bank posted $35,000 bond cuit court Tuesday. The bond signed by the American Surety Company. New and proved by the court. Judge James Baldwin previappointed Mr. ously Gundy enforce stockholders liability brought by Sarah Atteberry and creditors of the bank. Curtis and other bank stockholders were named defendants. Posting of bond by the receiver him from the payments ment for the stock which they hold.