Spring Valley City Bank - Spring Valley, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1927*
Location: Spring Valley, Illinois (41.323, -89.184)

Metadata

Model: gpt-5-mini
Short Digest: 8ecb3b0b

Response Measures

None

Description

Article (Bureau County Tribune, 1928-06-08) states the bank closed in March 1927 and a receiver is involved; depositors have filed claims and a $25,000 claim by the Spring Valley City Bank (as receiver) is contested. No explicit run is described. Classification: suspension followed by permanent closure/receivership.

Events (2)

1. March 1, 1927* Suspension

Cause Details: Bank closed in March 1927; article does not specify a run or specific cause, only later litigation and claims against the bank.
Newspaper Excerpt: time closed. March 1927.
Source: newspapers

2. June 8, 1928 Receivership

Newspaper Excerpt: Cassi dy and Spring Valley city bank. receiver. $25,000 claim filed directors and which has been termmade to the bank to strengthen its finances being contested by depositors and creditors.
Source: newspapers

Newspaper Articles (1)

1. June 8, 1928 Bureau County Tribune Princeton, IL

Article from Bureau County Tribune, June 8, 1928

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Article Text

Arlington Bank Suit Is Started One hundred and firms had aggregate of on deposit the Arlington State bank. the time closed. March 1927. have filsuit circuit court of Princeton against the bank directors for One of the individuals. David Hunter farmer. chairman of the deposited two days prior the closing institution. The defendants Fred president: Goetz. Denhardt. John Cassidy. cashier: John McDonald. vice president: Cassi dy and Spring Valley city bank. receiver. $25,000 claim field directors and which has been termmade to the bank to strengthen its finances being contested by depositors and creditors. Over 180 claims filed by depositors have been allowby since hearing. principal opposition to the claim directors refund of that if allowed. assets not be sufficient pay 50 cents the dollar The next hearing fore the master be held Friday thought that all testimony will concluded.