4940. Citizens State Bank (Keithsburg, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 4, 1933
Location
Keithsburg, Illinois (41.099, -90.943)

Metadata

Model
gpt-5-mini
Short Digest
2a8ab91e

Response Measures

None

Description

Articles state the Citizens State Bank of Keithsburg was closed and placed in receivership; liquidation consolidated under the closed Aledo State Bank as county headquarters. No run or depositor agitation is described. Cause classified as government action/receivership (state auditor/receiver handling closure).

Events (2)

1. October 4, 1933 Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in receivership under state auditor/receiver; records and liquidation consolidated under Aledo State Bank as county headquarters.
Newspaper Excerpt
Mr. Conners, the deputy receiver, former state bank examiner been receiver of the and has bank Keithsburg for closed in three years.
Source
newspapers
2. February 7, 1934 Receivership
Newspaper Excerpt
Quarterly statements ... Citizens State bank of Keithsburg have been filed in Mercer county circuit court Aledo by Deputy Receiver Connors, acting for William O'Connell, receiver.
Source
newspapers

Newspaper Articles (2)

Article from The Muscatine Journal, October 4, 1933

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Article Text

State Banks County Merged Banks in Receivership in MerCounty Will Be Liquidated. Aledo all closed state banks which are in receivership, with liquidation under one organization, was announced Tuesday through the state auditor, Edward Under the plan, all business will be handled through closed Aledo State bank, which will used county headquarters, with Conners, former for the Citizens State bank of Keithsburg, in charge as 'deputy ceiver. William O'Connell of Chicago will be the receiver in charge. Stuart Boultinghouse of Aledo has been named as county field of the ceiver. For the present some of the present bank receivers will to assist in organization work. Closed state banks which affected by new order the Aledo State bank, the State bank, the farmers State of Burgess, the New Boston bank State bank, Farmers State bank North Henderson, the bank of Windsor in New the Farmers State bank in New Windsor, the Sherrard State bank State bank, the the Preemption Farmers bank of Preemption the Farmers bank of Reynolds. The order effective at once of bringing the records and work Aledo has already been started. Mr. Conners, the deputy receiver, former state bank examiner been receiver of the and has bank Keithsburg for closed in three years. Boultinghouse, who associated with him, member of the firm and sons of Aledo.


Article from The Rock Island Argus, February 7, 1934

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Article Text

BANK RECEIVER FILES REPORTS Quarterly Statements of Receipts and Expenditures Approved by Judge. (Special to The Argus.) Aledo, III., Feb. 7.-Quarterly statements of the Farmers State bank of North Henderson, the Farmers State bank of New Windsor, Farmers State bank of Burgess, the Farmers State bank Preemption and Citizens State bank of Keithsburg have been filed in Mercer county circuit court Aledo by Deputy Receiver Connors, acting for William O'Connell, receiver. The statements follow: BANK NORTH HENDER- discounts Total this report FARMERS STATE OF Notes and items, Total Receiver's report STATE BANK OF Receipts. hand date accounted attorney this report Balance receiver STATE BANK OF Notes discounts Interest receipts hand last Total Balance receiver Receipts. premiums. and Overdrafts, cash items, hand report Receiver's hire Other Deposited Chicago