Kendallville Trust & Savings Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust
Start Date: *
Location: Kendallville, Indiana (41.441, -85.265)

Metadata

Model: gpt-5-mini
Short Digest: 2931c392b7917598

Response Measures

None

Description

Article (Garrett Clipper, 1931-10-29) describes the Kendallville Trust & Savings Co. having been absorbed by the Noble County Bank Trust and that the institution failed; a receiver is involved in related litigation. No article text describes a run; the bank appears to have closed and gone into receivership. Date of closure not specified in the excerpt.

Events (2)

1. * Receivership

Newspaper Excerpt: Decides Against Receiver ... brought by William Rinebolt ... against the Kendallville Trust and Savings Co. and Vermont Finley, receiver of the Noble County Bank Trust Co.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Institution failed and was absorbed by the Noble County Bank Trust Co.; receiver appointed for related bank, indicating bank-specific failure/insolvency.
Newspaper Excerpt: these certificates constitute equitable against mortgages held by the banks. About people owned these tificates when the banks closed.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1931 Garrett Clipper Garrett, IN

Article from Garrett Clipper, October 29, 1931

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Article Text

ENDICOTT RULE Decides Against Receiver In the important lawsuit brought by William Rinebolt and large number of other residents of Kendaliville and vicinity against the Kendallville Trust and Savings Co. and Vermont Finley, receiver of the Noble County Bank Trust Co., Judge Endicott handed down overruling the demurrer to the complaint. This decision has the effect holding valid about mortgage certificates issued by the Trust Savings and the Noble County Bank Trust Co. Judge Endicott decided that these certificates constitute equitable against mortgages held by the banks. About people owned these tificates when the banks closed. The banks had set aside security the The Trust was absorbed by the Noble County Bank Trust and the institution failed. The resisted claim the certificate holders and contended mortgages securing the certificates should considered general assets instead of the property of the owners of the the receiver concedes claim the certificate holders, expected the suit will now be tried on the facts.