First State & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 1, 1933
Location: Galena, Illinois (42.417, -90.429)

Metadata

Model: gpt-5-mini
Short Digest: 03f15f67

Response Measures

None

Description

Article (Mar 1, 1933) reports the First State and Savings Bank of Galena failed to open and state bank examiners were dispatched to take charge for examination and readjustment. No run is mentioned. Closure appears to be by state action; permanence not stated but examiners/charge implies regulatory suspension likely leading to closure/receivership.

Events (1)

1. March 1, 1933 Suspension

Cause: Government Action
Cause Details: Bank failed to open and state bank examiners were dispatched to take charge for examination and readjustment.
Newspaper Excerpt: STATE BANK AT GALENA FAILS TO OPEN TODAY ... Doors of the First State and Savings bank of Galena failed to open this morning, the state was advised. Bank examiners were dispatched there take charge for examination and readjustment.
Source: newspapers

Newspaper Articles (1)

1. March 1, 1933 The Dispatch Moline, IL

Article from The Dispatch, March 1, 1933

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Article Text

STATE BANK AT GALENA FAILS TO OPEN TODAY Springfield, March Doors of the First State and Savings bank of Galena failed to open this morning, the state was advised. Bank examiners were dispatched there take charge for examination and readjustment.