Farmers State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 12, 1930
Location: Mason, Illinois (38.953, -88.626)

Metadata

Model: gpt-5-mini
Short Digest: ef414090

Response Measures

None

Description

Article (Effingham Daily Record, 1930-05-12) reports the Farmers State Bank of Mason closed about March 12 and was declared defunct; a receiver (Schoenberg) was appointed May 12, 1930. Closure appears due to impaired capital/insolvency rather than a depositor run.

Events (2)

1. March 12, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Impaired capital stock not made good by stockholders; bank was insolvent and closed circa March 12, 1930.
Newspaper Excerpt: The defunct Mason bank was closed about March 12.
Source: newspapers

2. May 12, 1930 Receivership

Newspaper Excerpt: SCHOENBERG APPOINTED RECEIVER OF MASON BANK ... Auditor Oscar Nelson yesterday appointed Schoenberg ... for the defunct Farmers State Bank of Mason and designated the law firm of Smith and Smith Flora as attorneys.
Source: newspapers

Newspaper Articles (1)

1. May 12, 1930 Effingham Daily Record Effingham, IL

Article from Effingham Daily Record, May 12, 1930

Click image to open full size in new tab

Article Text

SCHOENBERG APPOINTED RECEIVER OF MASON BANK Auditor Oscar Nelson yesterday appointed Schoenberg, the Edgewood State Bank, for the defunct Farmers receiver State Bank of Mason and designated the law firm of Smith and Smith Flora as attorneys. The defunct Mason bank was closed about March 12. The impairment capital stock not made good by the stockholders," James H. Smith ney. said this morning in discussing the "The deposit liabilities proximately $56,000. but the amount realized from assets entirely this time The total problematical resources the last statement but assets duced resource liability to less than $50,000." Gibson. of Mattoon president of the bank Bussman of Mason and Bussman Mason cashier.