5189. Farmers State Bank (Preemption, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 12, 1933
Location
Preemption, Illinois (41.313, -90.585)

Metadata

Model
gpt-5-mini
Short Digest
40179ee8

Response Measures

None

Description

Articles (1933–1934) describe the Farmers State Bank of Preemption as closed and in receivership with receiver Simpson filing quarterly statements and paying dividends to creditors. No run is described. The bank remained closed and a receiver was administering liquidation/dividends, so this is classified as a suspension that led to closure/receivership.

Events (4)
1. April 12, 1933 Receivership
Newspaper Excerpt
BANK RECEIVER IN PREEMPTION ISSUES ... quarterly statement of the receiver, Simpson ... statement to filed this term of Mercer circuit court, and with the state banking department. ... Cash on hand is given at $41.48, deposit Continental Illinois National Bank and Trust company, Chicago.
Source
newspapers
2. July 8, 1933 Other
Newspaper Excerpt
Dividends totaling been paid which common creditors received 99 cent. per ... At the Farmers State bank Preemption. Dividends totaling been paid which common creditors received 99 cent. per Resources closing Dec. were charged Cash realized from these with $1,848.55 offsets.
Source
newspapers
3. February 7, 1934 Other
Newspaper Excerpt
Quarterly statements of the Farmers State bank ... Preemption ... have been filed in Mercer county circuit court Aledo by Deputy Receiver Connors, acting for William O'Connell, receiver.
Source
newspapers
4. * Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership; reports and liquidation/dividend proceedings filed in Mercer County circuit court.
Newspaper Excerpt
three closed banks Mercer county were filed ... the Farmers State bank Preemption were filed. Baner receiver the Aledo bank; Shaver of the bank North and Simpson the Preemption bank.
Source
newspapers

Newspaper Articles (3)
1. April 12, 1933 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, April 12, 1933

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Article Text

BANK RECEIVER IN PREEMPTION ISSUES Simpson, Officer of Farmers State Bank Makes Quar. terly Statement. (Special to The Argus.) Aledo, III.. April 12. Cash amounting to on hand toward the payment of the next dividend to depositors of the Farmers State Bank of Preemption, according to the quarterly statement of the receiver, SimpThe statement to filed this term of Mercer circuit court, and with the state banking department. Notes and discounts are listed overdrafts and items, $1.75: interest, $311.55; total ceipts, balance report, $1,884.91; total to be accounted $2,755.67. Disbursements amounted $357.25 salary expenses the receiver; legal expense expense distributed, $376.88; balance hands receiver. $2,378.79: to be accounted for $2,755.67. Cash on hand is given at $41.48, deposit Continental Illinois National Bank and Trust company, Chicago.

2. July 8, 1933 The Daily Times Davenport, IA
Article from The Daily Times, July 8, 1933

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Article Text

Receivers File in Reports in ALEDO, July of three closed banks Mercer county were filed in Mercer county circuit court and proved by Judge Paul Califf yesterday. The reports the Aledo State bank, Aledo; Farmers State bank North Henderson the Farmers State bank Preemption were filed. Baner receiver the Aledo bank; Shaver of the bank North and Simpson the Preemption bank. April 18 there was cash of hand at the Aledo State bank the audit shows. Dividends to have paid of which to creditors, the balance being paid The audit shows that sources totaling charged against the bank of which $274,270.47 per cent been collected. Of as liabilities 23.58 per cent been liquidated with cash or inventory balance at the the bank closed, Dec. Adjustments totaled liabilities liquiwere cash offsets. The amount remaining is listed At the Farmers State bank North hand April listed Dividends totaling have been paid since was closed Aug. 18, 1931. Total were charged against the bank and upon. Net with being charged On April cash balance reported the Farmers State bank Preemption. Dividends totaling been paid which common creditors received 99 cent. per Resources closing Dec. were charged Cash realized from these with $1,848.55 offsets.

3. February 7, 1934 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, February 7, 1934

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Article Text

BANK RECEIVER FILES REPORTS Quarterly Statements of Receipts and Expenditures Approved by Judge. (Special to The Argus.) Aledo, III., Feb. 7.-Quarterly statements of the Farmers State bank of North Henderson, the Farmers State bank of New Windsor, Farmers State bank of Burgess, the Farmers State bank Preemption and Citizens State bank of Keithsburg have been filed in Mercer county circuit court Aledo by Deputy Receiver Connors, acting for William O'Connell, receiver. The statements follow: BANK NORTH HENDER- discounts Total this report FARMERS STATE OF Notes and items, Total Receiver's report STATE BANK OF Receipts. hand date accounted attorney this report Balance receiver STATE BANK OF Notes discounts Interest receipts hand last Total Balance receiver Receipts. premiums. and Overdrafts, cash items, hand report Receiver's hire Other Deposited Chicago