4810. Farmers State Bank (Churubusco, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1927*
Location
Churubusco, Indiana (41.231, -85.319)

Metadata

Model
gpt-5-mini
Short Digest
498defe430d468a6

Response Measures

None

Description

Newspaper articles (early-mid 1927) indicate Farmers State Bank of Churubusco failed and is in the hands of a receiver (Charles Slagle). There is no mention of a depositor run in the excerpts; instead legal actions by the receiver and criminal charges against the cashier/assistant cashier for actions while the bank was insolvent are reported. OCR errors in Article 1 (truncated words) were noted but did not affect identification. Episode classified as suspension_closure (bank suspended/failed and receiver appointed).

Events (3)
1. February 1, 1927* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent leading to failure and placing bank into receivership; legal suits arising from the failure are reported.
Newspaper Excerpt
the bank failure. Slagle, as receiver, was granted judgment ...
Source
newspapers
2. February 28, 1927 Receivership
Newspaper Excerpt
SUITS FILED BY CHURUBUSCO BANK RECEIVER ... Slagle, as receiver, was granted judgment ... the suits all grew directly out of the bank failure.
Source
newspapers
3. July 20, 1927 Other
Newspaper Excerpt
Prosecutor C. A. Lincoln has made known he would dismiss the charges against George Diller, cashier, and Ursula Magers, assistant cashier, of the Farmers' State bank of Churubusco, now in the hands of a receiver. Both were charged with receiving deposits when they knew the bank to be insolvent.
Source
newspapers

Newspaper Articles (2)
1. February 28, 1927 Garrett Clipper Garrett, IN
Article from Garrett Clipper, February 28, 1927

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Article Text

SUITS FILED BY CHURUBUSCO BANK RECEIVER Columbia City, Ind., Feb. number lawsuits brought by Charles Slagle, for the Farmers State bank of ubusco against residents of Churubusco Smith township, have been disposed of by Judge Arthur Briggs the circuit court here. The suits all grew directly out of the bank failure. Slagle, as receiver, was granted judgment against Lawrence Coulin the sum of $51.25, $60 against George Rowland the of against Hamer Glick in the sum of and seph Jetmore in the The following cases Noble county on change of verue: Slagel against receiver, against Thompson, against Charles H. don and Tom Molargik.

2. July 20, 1927 The Huntington Herald Huntington, IN
Article from The Huntington Herald, July 20, 1927

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Article Text

CHURUBUSCO CASES MAY BE DROPPED BY LINCOLN COLUMBIA CITY. July 20.-(INS) -Prosecutor C. A. Lincoln has made known he would dismiss the charges against George Diller. cashier, and Ursula Magers, assistant cashier. of the Farmers' State bank of Churubusco. now in the hands of a receiver. Bith were charged with receiving deposits when they knew the bank to be insolvent. Lincoln said that a grand jury would investigate both cases next September and return indictments if the evidence warranted It.