Peoples State Bank (Arcadia, IN)

Episode Information

Episode UID
517473091417
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
51747309 hash
Start Date
January 1, 1918*
Location
Arcadia, Indiana (40.176, -86.022)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d3ec031fda56c1b8

Response Measures

None

Description

Bank was closed by the state banking department after a run tied to failures of other local banks; receivership thereafter.

Events (3)
1. January 1, 1918* Run
Cause
Local Banks
Cause Details
A run occurred contemporaneously with the insolvency/declaration of the Farmers' Bank of Chicago and the Hamilton County Trust Company, spurring heavy withdrawals.
Newspaper Excerpt
The bank failed when a run was made on it at the time the Farmers' Bank of Chicago and the Hamilton County Trust Company were declared insolvent.
Source
newspapers
2. January 1, 1918* Suspension
Cause
Government Action
Cause Details
Closed by the state banking department following the run and bank failures in the county.
Newspaper Excerpt
which was closed by the state banking department several years ago along with three other banks in Hamilton county
Source
newspapers
3. January 20, 1921 Receivership
Newspaper Excerpt
The Circuit Court has granted the request of Guy Booth, as receiver, to declare a 10 per cent dividend among the stockholders and depositors of the defunct People's State Bank of Arcadia, which was closed by the Auditor of State three years ago.
Source
newspapers

Newspaper Articles (4)
1. January 20, 1921 Indiana Daily Times Indianapolis, IN
Article from Indiana Daily Times, January 20, 1921

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Article Text

ARDEN BANK' DIVIDENDS PAID. NOBLESVILLE, Ind., Jan. 20.-The Circuit Court has granted the request of Guy Booth, as receiver, to declare a 10 per cent dividend among the stockholders and depositors of the defunct People's State Bank of Arcadia, which was closed by the Auditor of State three years ago. When the stockholders and depositors received this 10 per cent dividend they will have been paid 83 per cent.

2. August 10, 1921 Indiana Daily Times Indianapolis, IN
Article from Indiana Daily Times, August 10, 1921

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Article Text

Right Here I BANK RECEIVER MAKES REPORT Arcadia Institution to Pay Another Dividend. Special to The Times. NOBLESVILLE, Ind., Aug. 10.-In the Circuit Court Tuesday Judge E. E. Cloe allowed Lewis A. Coleman of Indianapolis and Neal & Noal of this city fees to the amount of $3,850 for services as attorneys in the receivership of the Peoples State Bank at Arcadia. Guy Booth receiver, was allowed $4,330. Mr. Booth notified the court that he expected to pay 8 5 or 7 per cent dividend within the next few days. after which he would file his final report and asked to be discharged. The receiver has already paid 83 per cent in dividends. This will be the best showing of any of the four banks which have failed in Hamilton County four years ago.

3. March 1, 1922 South Bend News-Times South Bend, IN
Article from South Bend News-Times, March 1, 1922

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Article Text

Defunct Bank's Stockholders Receive 93 Percent on Stock NOBLESVILLE, Ind., Feb. 28.A final.reports by receivers of the People's State bank of Arcadia. which was closed by the state banking department several years ago along with three other banks in Hamilton county, was filed in court Tuesday and approved.

4. November 27, 1922 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 27, 1922

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Article Text

ARCADIA BANK PAYS 93 CENTS ON THE DOLLAR B Times Special NOBLESVILLE, Ind., Nov. 27.Creditors of the defunct People's State Bank of Arcadia will receive a further dividend of eleven. cents, according to the final report of Guy Booth, receiver, made to Judge Fred Hines in the Hamilton Circuit Court. This makes the final dividend of the bank ninety-three cents on the dollar. The bank failed when a run was made on it at the time the Farmers' Bank of Chicago and the Hamilton County Trust Company were declared insolvent.