4915. Hurst State Bank (Hurst, IL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
April 1, 1930*
Location
Hurst, Illinois (37.833, -89.143)

Metadata

Model
gpt-5-mini
Short Digest
d461c0de

Response Measures

Full suspension

Description

Multiple April 1930 newspaper articles report heavy withdrawals/closures in Williamson County; Hurst State Bank closed/suspended in April during county-wide runs. In May 1930 a receiver was appointed (per Marion Weekly Leader, 1930-05-22). Later (Sept 1930) embezzlement by the cashier was discovered/charged, explaining the bank's insolvency. I classify the sequence as a run leading to suspension and eventual closure/receivership.

Events (4)
1. April 1, 1930* Run
Cause
Local Banks
Cause Details
County-wide runs and failures (runs on banks in Marion and other local banks precipitated heavy withdrawals and closures, including Hurst State Bank).
Measures
No specific remedial measures for Hurst State Bank mentioned in the articles.
Newspaper Excerpt
the Citizens State Bank of Johnston the Hurst State bank and the Herrin State and Savings banks had closed.
Source
newspapers
2. April 1, 1930* Suspension
Cause
Local Banks
Cause Details
Suspended business in April amid the county-wide bank runs and closures described in contemporaneous reports; suspension appears precipitated by heavy withdrawals and local banking panic rather than an immediate government action or voluntary liquidation (receiver appointed later).
Newspaper Excerpt
the Hurst State bank ... had closed
Source
newspapers
3. May 22, 1930 Receivership
Newspaper Excerpt
The appointment of receivers for three banks ... The banks ... the Hurst State Bank ... have been closed since they suspended business in April. The appointment of receivers is seen as step in the adjustment of the three banks. Frank Bennett, Hurst furniture merchant was named receiver for the bank there ... after eighty-two per cent of the depositors had signed petition for his appointment. (Article metadata: Marion Weekly Leader, 1930-05-22.)
Source
newspapers
4. September 14, 1930 Other
Newspaper Excerpt
Attorney Roy Browning said tonight he had issued four warrants for W. B. Sizemore, cashier of the Hurst State bank at Hurst on charges of embezzlement in connection with the failure of that bank April ... Browning estimated Sizemore is short $25,000. ... the shortage was discovered soon after the bank suspended ... warrants were issued after he had personally checked the accounts of the bank and attempted to question Sizemore who refused to talk ...
Source
newspapers

Newspaper Articles (3)
1. April 15, 1930 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, April 15, 1930

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Article Text

FOUR REST RESIST Word of Large Sum Enroute to First National of Marion Halts Rush within two weeks, failed their doors today and precipitated upon other banks of the county. Sheriff Oren Coleman armed with machine guns, and state highway patrolmen were on duty the banks and on the streets of the various in the county all noon today that Federal Bank of St. was sending large sum currency armored truck the First National bank Marion stopped the run that bank before noon and none of the outside money was in demands depositors. MERCHANTS TO RESCUE Marion made deposits the First National today instill confidence. The Marion Trust and Savings bank following the $145,000 on Friday and Saturday decided not reopen Monday despite the fact that had $225,000 cash available for Monday This decision was reached by the with belief that they could possibly organize and all depositors 100 the dollar. The other banks which failed to today were First State Bank the and Savings and the State Bank Cambria the Citizens State Bank of Johnston the Hurst State bank and the Herrin State and Savings banks had closed. SHOWS LARGE RESOURCES The Marion Trust and Savings bank in its statement of condition March 27 showed resources building. the largest in the county The Pittsburg bank, located in little mining town, had. according to its last report, (Continued on Page Three)

2. May 22, 1930 Marion Weekly Leader Marion, IL
Article from Marion Weekly Leader, May 22, 1930

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Article Text

RECEIVERS THREE Hurst, Herrin and Pittsburg Banks Are New Hands The appointment of receivers for three banks in the county by State Auditor Oscar Nelson was made lic Friday. The banks the Herrin State and Savings Bank, the Hurst State Bank and the Pittsburg State Bank, all of whom have been closed since they suspended business in April. The appointment of ceivers is seen as step in the justment of the three banks Frank Bennett, Hurst furniture merchant was named receiver for the bank there after eighty-two per cent of the depositors had signed tion for his appointment. Hal Trovillion, newspaper pub lisher and politician, was appointed received of the Herrin State and Sav ings Bank. Blaine Pearce, an assistant cashier of the Marion Trust and Savings Bank which is in the process of organization, was named Thursday receiver of the Pittsburg State Bank which suspended business April The appointment was made State Auditor Oscar Nelson. Mr. Pearce has already taken charge the affairs of the bank the assets which it is understood are liquidated. He filed bond for as receiver.

3. September 14, 1930 The Daily Illini Urbana, IL
Article from The Daily Illini, September 14, 1930

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Article Text

CHARGE MARION BANKER WITH EMBEZZLEMENTS MARION, Sept. Attorney Roy Browning said tonight he had issued four warrants for W. B. Sizemore, cashier of the Hurst State bank at Hurst on charges of embezzlement in connection with the failure of that bank April Browning estimated Sizemore is short $25,000. warrants will not be served until Monday. Browning said the shortage was discovered soon after the bank suspended as the first of banks in Williamson county to close their doors, but that he had withheld charges because of the possible effect on public opinion toward closed banks in which no fraud has been discovered. Warrants were issued after he had personally checked the accounts of the bank and attempted to question Sizemore refused to talk to him about the shortage, he said.