Citizens State Bank - Franklin Grove, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1931*
Location: Franklin Grove, Illinois (41.842, -89.300)

Metadata

Model: gpt-5-mini
Short Digest: 62e96cb3

Response Measures

None

Description

Article states the Citizens State Bank of Franklin Grove closed October 1931 and a receiver is paying dividends in Dec 1934. No run is described in the article; the bank was closed and in receivership.

Events (2)

1. October 1, 1931* Suspension

Cause Details: Article does not specify the reason for the suspension/closure; only states the bank closed in October 1931.
Newspaper Excerpt: The bank closed October 1931.
Source: newspapers

2. December 13, 1934 Receivership

Newspaper Excerpt: Circuit Judge Harry Edwards of Dixon has authorized the payment of per cent dividend to the depositors of the closed Citizens State Bank of Franklin Grove. ... The dividend ... will be paid during the next ten days. ... The bank closed October 1931.
Source: newspapers

Newspaper Articles (1)

1. December 13, 1934 The Ashton Gazette Ashton, IL

Article from The Ashton Gazette, December 13, 1934

Click image to open full size in new tab

Article Text

Citizens Bank Depositors Will Get A 15% Dividend Circuit Judge Harry Edwards of Dixon has authorized the payment of per cent dividend to the depositors of the closed Citizens State Bank of Franklin Grove. it was announced Tuesday by George Dixon. counsel for the bank receiver. The dividend. approximating $19.000. will be paid during the next ten days. The date the deputy Weyant. has paid total of 43 of the deposits to the creditors in general dividends. The bank closed October 1931.