First National Bank - Granville, IL

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 10458
Charter Number: 10458
Start Date: March 11, 1930
Location: Granville, Illinois (41.261, -89.228)

Metadata

Model: gpt-5-mini
Short Digest: 9794754e

Response Measures

Accommodated withdrawals

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1934-03-15
Date receivership terminated: 1939-03-25
Share of assets assessed as good: 52.8%
Share of assets assessed as doubtful: 43.5%
Share of assets assessed as worthless: 3.7%

Description

Newspaper dated 1930-03-11 reports a run on First National Bank of Granville triggered by widely circulated rumors. Bank officers kept the institution open and accommodated withdrawals; no suspension or closure is mentioned.

Events (3)

1. November 4, 1913 Chartered

Source: historical_nic

2. March 11, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: Widely circulated rumors questioning the soundness of the bank originating in the western section of Granville-Mark community; described as groundless by officers.
Measures: Officers kept the institution open and accommodated those insisting on withdrawals; reassured depositors and retained many deposits.
Newspaper Excerpt: Spurred by wildly circulated rumors questioning the soundness of the First National Bank of Granville, scores of depositors in that Institution yesterday began a run on the bank and hundreds of dollars in deposits were withdrawn.
Source: newspapers

3. March 15, 1934 Receivership

Source: historical_nic

Newspaper Articles (1)

1. March 11, 1930 The Times Streator, IL

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Article Text

RUN ON BANK AT GRANVILLE OFFICERS KEEP INSTITUTION OPEN DESPITE HEAVY WITHDRAWAL OF FUNDS. GRANVILLE, III., March 11.Spurred by wildly circulated rumors questioning the soundness of the First National Bank of Granville, scores of depositors in that Institution yesterday began a "run" on the bank and hundreds of dollars in deposits were withdrawn. According to officers of the bank, who are not in the least alarmed over the situation, the rumor originated early Monday morning in the western section of Granville-Mark community and by the time the bank was opened for the days' business the report had spread from mouth to mouth until a large crowd had gathered about the front of the bank. Up to noon the doors of the bank still remained open and all those insisting upon withdrawing their funds were being accommodated There were scores of others who, apprised of the falsity of the rumor and assured that the report was groundless, left their money in the bank after originally going there to make withdrawals. "There is nothing to worry about." declared John G. Pletsch, president of the bank. who added. "We have the situation well in hand." The "run" on the Granville bank is similar to one conducted at the Peoples' Trust and Savings bank in Strentor last week, "run" which assumed such proportions as to force closing of the bank's doors pending examination and adjustment by state auditors. The Streator bank "run" was precipatated by rumors. A heavy penalty is provided for those persons found guilty of irculating reports questioning the soundness of a bank. which was very successful In New York, has however, not been taken on tour. It has never played in Chicago, and since only the New York Audience has been given the opportunity of seeing it, it has therefore been taken up recently by the Little Theatres and is considered one of the outstanding successes in all parts of the country. Northwestern Alumni in Streator and Ottawa are cooperating in an effort to make the show a success. The children of the grade schools, together with high school students will be given an opportunity to witness the performance In the afternoon, a special rate having been made for students. A reception is to be given the players at the close of the evening performance, which is being sponsored by the local alumni of the university and the Thespian club of the high school.