Citizens State Bank - Melrose Park, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Melrose Park, Illinois (41.901, -87.857)

Metadata

Model: gpt-5-mini
Short Digest: 9bdcca01

Response Measures

None

Description

Article (Feb 23 1933) discusses the bank having been closed and a receiver appointed; it describes criminal charges against the former president for debiting $103,575 prior to the bank's closing. No run is mentioned — cause of suspension/closure appears to be bank-specific misconduct/defalcation.

Events (2)

1. * Other

Newspaper Excerpt: The bank's receiver filed an answer ... appointment receiver ... decree was entered finding should be given the creditors. An appeal from the decree was taken to the supreme court.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Former bank president Charles Wolf allegedly debited/misappropriated about $103,575 from bank accounts prior to the bank's closing; receiver was appointed and prosecution followed.
Newspaper Excerpt: Conviction Is Reversed Charles Wolf, former president Citizen bank of Melrose, sentenced ... charged the bank of $103,575 debited ... prior to the closing the bank ... receiver.
Source: newspapers

Newspaper Articles (1)

1. February 23, 1933 Freeport Journal-Standard Freeport, IL

Article from Freeport Journal-Standard, February 23, 1933

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Article Text

DELIVERS (Continued from chancery held that deposit was general and should be given preference in the distribution assets. The bank's receiver filed an answer that Morse lost claim preference because did assert his claim from date of the closing of the bank until after the appointment receiver. decree was entered finding should be given the creditors. An peal from the decree was taken the supreme court. Mortgage Stands, Nevertheless Appetite of cows and pigs on the farm Alva Martin near Fisher Champaign county. and had mortgaged. with other chattels, for invalidate the mortgage. the supreme court held today reversdecision of the third district appellate court and affirming H. Walmsley the Champaign county circuit court. Order Denied Case Russell convicted killer of street torman. denied plea the supreme today. order directing the county treasurer pay his attorney $250. The court ruled there ficient showing" to warrant the Conviction Is Reversed Charles Wolf. former president Citizen bank of Melrose, sentenced the state penitenan reversal sentence the supreme court today. The court's opinion held he guilcharged in the against Wolf, treasurer of the Veteran park district. account bank the of $103,575 debited the for funds which and prior the closing the bank state charged the bank funds and propthe Veteran park district.