Citizens State Bank - McHenry, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 25, 1929
Location: McHenry, Illinois (42.333, -88.267)

Metadata

Model: gpt-5-mini
Short Digest: 42d91166

Response Measures

None

Description

Article (The Herald, 1929-07-25) reports Citizens State Bank of McHenry was closed and a receiver (Hamer) appointed by the state due to insolvency. No run or depositor panic is described; the action appears to be a state-ordered receivership/closure.

Events (2)

1. July 25, 1929 Receivership

Newspaper Excerpt: Hamer Appointed Reciever ... receiver for the Citizens State Bank of McHenry ... prepared to receive claims of all creditors ... collect the assets ... conduct matters ... to the creditors satisfactory avoid any unthe litigation . . . . He will also collect all notes and all obligations due the bank . . . . period of three months will probbe allowed for the of claims . . . .
Source: newspapers

2. July 25, 1929 Suspension

Cause: Government Action
Cause Details: State department filed bill under insolvency leading to closure; state-appointed receiver to liquidate bank.
Newspaper Excerpt: Hamer Appointed Reciever Citizens State Bank, McHenry ... closed ... appointment due to lack ... insolvency ... closed on account ... the state department
Source: newspapers

Newspaper Articles (1)

1. July 25, 1929 The Herald Crystal Lake, IL

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Article Text

Hamer Appointed Reciever Citizens State Bank, McHenry of Crystal Lake, forof county, receiver for the Citiof McHenry, closed effect the liquidation the appointment due to lack the part of the is said. necessary for State Nelson to file bill under the insolvency closed on account and since that time the state department, Various attempts effect liquidation receivership. days for the matters, after prepared to receive claims of all creditors, which includes depositors of both time and savings accounts, note holders and all persons the bills of kind against having any bank. He will also collect all notes and all obligations due the bank. period of three months will probbe allowed for the of claims, although this will be in the discretion of the state auditor and circuit court. Mr. Hamer will collect the assets in an expeditious and make as fast as possible satis- and will be able to conduct matters and both to the creditors factory avoid any unthe litigation. in public life Mr. Hamer has been He was for years. county for circuit clerk of McHenry and to assuming sixteen years prior that office was deputy the clerk for fourteen years.