4899. Harvel State Bank (Harvel, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1931*
Location
Harvel, Illinois (39.356, -89.532)

Metadata

Model
gpt-5-mini
Short Digest
31c1a2d9

Response Measures

None

Description

Newspaper articles indicate the Harvel State Bank failed in January 1931 and a receiver was appointed (articles refer to the bank as 'defunct' and to actions by the receiver). There is no mention of a depositor run; indictments and alleged embezzlement point to bank-specific insolvency leading to suspension and permanent closure.

Events (3)

1. January 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed in January 1931 linked to embezzlement/insolvency by officers (indictments mention embezzlement and larceny).
Newspaper Excerpt
the Harvel State Bank, which failed last January
Source
newspapers
2. April 24, 1931 Receivership
Newspaper Excerpt
the defunct Harvel State bank ... attorneys for the bank's receiver.
Source
newspapers
3. December 18, 1931 Other
Newspaper Excerpt
collect $10,000 alleged to be due on the bond of John A. Huber, cashier of the Harvel State Bank, which failed last January, was filed ... by Clarence McNaughton of Raymond, receiver for the bank.
Source
newspapers

Newspaper Articles (2)

Article from The Decatur Review Advertiser, April 24, 1931

Click image to open full size in new tab

Article Text

Bond Is Given By Harvel Officials Hillsboro H. H. Zimmerman, president. and John A. Huber, cashier, of the defunct Harvel State bank and who were indicted recently by the Montgomery county grand jury, both gave bond Monday The bonds were signed by Edward Diller, August Best and Edward Zimmerman. Huber is named in eight of the twenty-six indictments returned and Zimmerman in five. Huber's name appears on indictments which charge larceny by embezzlement, embezzlement, larceny by embezlement by a public officer. larceny, embezzlement by receiving deposit knowing the bank to be insolvent. On five of the indictments the two officers of the bank are named jointly Judge Harry Stuttle of Litchfield will represent Huber and former Congressman Frank M. Ramey will represent Zimmerman. Dryer and Brown of Hillsboro are attorneys for the bank's receiver.


Article from JG-TC: Journal Gazette and Times-Courier, December 18, 1931

Click image to open full size in new tab

Article Text

BANK CASHIER ACCUSED OF POCKETING $10,000 Hillsboro, Dec. collect $10,000 alleged to be due on the bond of John A. Huber, cashier of the Harvel State Bank, which failed last January, was filed in circuit court yesterday against the National Surety Company of New York by Clarence McNaughton of Raymond, receiver for the bank. The receiver alleges that Huber