First State Bank - Greenup, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 25, 1930
Location: Greenup, Illinois (39.248, -88.163)

Metadata

Model: gpt-5-mini
Short Digest: 2df2a387

Response Measures

None

Description

Article (Decatur Evening Herald, 1930-05-02) reports the First State Bank of Greenup closed last Friday, examination found 'frozen assets' and a receiver will be appointed. I inferred the closure date as 1930-04-25 (the previous Friday relative to the publication date). No run or depositor panic is mentioned; this appears to be a suspension that resulted in failure/receivership.

Events (2)

1. April 25, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Believed the bank failed because of 'frozen assets'; checks given to county collector not returned to the bank.
Newspaper Excerpt: Examination of the books of the First State bank of this city, closed last Friday, was completed Wednesday and the report taken to the state auditor... A receiver for the institution will be appointed in the near future.
Source: newspapers

2. May 1, 1930* Receivership

Newspaper Excerpt: A receiver for the institution will be appointed in the near future.
Source: newspapers

Newspaper Articles (1)

1. May 2, 1930 Decatur Evening Herald Decatur, IL

Article from Decatur Evening Herald, May 2, 1930

Click image to open full size in new tab

Article Text

Auditors Finish Check of Closed Bank in Greenup GREENUP-Examination of the books of the First State bank of this city. closed last Friday, was completed Wednesday and the report taken to the state auditor. No 10. here. It was made public port believed the bank falled because of "frozen assets." Many citizens had made special deposits to take care of thell taxes, and had given checks to the county collector for the amounts. Notices In those are being which the checks had not returned to the bank. A receiver for the institution will be appointed In the near fature