First State Bank - Mattoon, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 1, 1926*
Location: Mattoon, Illinois (39.483, -88.373)

Metadata

Model: gpt-5-mini
Short Digest: 2b72c4ca

Response Measures

None

Description

Article states the First State Bank of Mattoon closed since December, 1926 and a receiver (E. T. Guthrie) filed a final report in July 1932. No mention of a depositor run prior to the suspension; bank remained in receivership and is being wound up — consistent with suspension leading to permanent closure/receivership.

Events (2)

1. December 1, 1926* Suspension

Cause Details: Article gives no reason for the closure/suspension; cause not stated.
Newspaper Excerpt: the First State bank of Mattoon, closed since December, 1926
Source: newspapers

2. July 27, 1932 Receivership

Newspaper Excerpt: final report of E. T. Guthrie, receiver of the First State bank of Mattoon, closed since December, 1926, was filed in the circuit court and will be given hearing Monday, Aug. ... The receiver reports that all the assets of the bank have been collected or converted into cash ... He reports that all the liabilities of the bank have been paid in full, except the liability of the stockholders. $9,900 ... Pays 100 Per Cent of Claims.
Source: newspapers

Newspaper Articles (1)

1. July 27, 1932 The Decatur Daily Review Decatur, IL

Article from The Decatur Daily Review, July 27, 1932

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Article Text

Will Object to Guthrie's Report Bank Receiver's Disbursements Considered High. Charleston- final report of E. T. Guthrie, receiver of the First State bank of Mattoon, closed since December, 1926, was filed in the circuit court and will be given hearing Monday, Aug. Objections the disburse ments made by the receiver will be made by representing the stockholders, it was stated The receiver reports that all the assets of the bank have been collected or converted into cash and that no will remain bank sum of $2,000 paid at $2 the stockholders He reports that all the liabilities of the bank have been paid in full. except the liability the stockholders. $9,900 To Attorney. Among the larger items of disbursement during the period of the bank's receivership according to the reports filed by Mr. Guthrie are $6,938.11 in fees to himself as Attorney R Real of Chicago, formerly of Mattoon: $1,199.92 to Mr. Real to reimburse him for court advanced by him: and $1,650 in fees to Attorney Anderson of Charleston The large attorney fees are the result of considerable litigation which the bank has been involved in since it closed, cases going to court. Pays 100 Per Cent of Claims. It said that is the only bank under in the state that has paid its depositors and creditors 100 per without levying any assessment on the stockholders.