Paxton State Bank - Paxton, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 13, 1932
Location: Paxton, Illinois (40.460, -88.095)

Metadata

Model: gpt-5-mini
Short Digest: d65c5fef

Response Measures

None

Description

Article (Pantagraph, 1932-08-13) reports the state auditor appointed a receiver for Paxton State Bank and the receiver took charge. No mention of a depositor run; appointment of a receiver implies the bank closed and was placed in receivership (government action).

Events (1)

1. August 13, 1932 Receivership

Newspaper Excerpt: Sherman Frederick president of Clarence State has appointed receiver the Paxton State bank by Oscar Nelson state auditor Mr. Fredtook charge the affairs Friday Pacey and Paxton been appointed counsel for the bank According figures presented the last statement assets included $40,000 hand 400 acres of $170,000 in loans and bank building and equipment
Source: newspapers

Newspaper Articles (1)

1. August 13, 1932 The Pantagraph Bloomington, IL

Article from The Pantagraph, August 13, 1932

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Article Text

Named Bank Receiver Pantagraph Central PAXTON Sherman Frederick president of Clarence State has appointed receiver the Paxton State bank by Oscar Nelson state auditor Mr. Fredtook charge the affairs Friday Pacey and Paxton been appointed counsel for the bank According figures presented the last statement assets included $40,000 hand 400 acres of $170,000 in loans and bank building and equipment