State Bank - Springfield, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 30, 1932
Location: Springfield, Illinois (39.802, -89.644)

Metadata

Model: gpt-5-mini
Short Digest: a4063414

Response Measures

None

Description

Article (The Belleville News-Democrat, 1932-12-30) reports the State Bank in Springfield failed to open its doors today with a notice closed for auditing and describes deposits shrinking from $8,000,000 to $4,000,000 over two years. No mention of a depositor run or of reopening; given the 1932 context and the language 'failed to open' and 'suspended', I classify this as a suspension that likely led to closure. Outcome not explicitly stated in the article, so permanent closure is inferred but not definitively confirmed.

Events (1)

1. December 30, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Deposits had declined sharply (from about $8,000,000 to $4,000,000 over two years), indicating bank-specific financial deterioration leading to suspension.
Newspaper Excerpt: State Bank, one of the large financial institutions of Central Illinois, failed to open its doors today. ... A notice on the door of the bank reading closed for auditing was the capital city's first news that the bank, regarded as a financial had suspended.
Source: newspapers

Newspaper Articles (1)

1. December 30, 1932 The Belleville News-Democrat Belleville, IL

Article from The Belleville News-Democrat, December 30, 1932

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Article Text

Notice on Door Says Institution Closed for Audit Governor Emmerson One of Directors of Bank Where Deposits Shrank From $8,000,000 to $4,000,000 in 2 Years. Springfield, III., Dec. State Bank, one of the large financial institutions of Central Illinois, failed to open its doors today. Gov. Emmerson one of the bank's directors. A notice on the door of the bank reading "closed for auditing" was the capital city's first news that the bank, regarded as a financial had suspended. Deposits in the bank totalled approximately $4,000,000. Its capital stock was $600,000. Two the bank years ago had deposits totaling