First State Bank - Steger, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 8, 1933
Location: Steger, Illinois (41.470, -87.636)

Metadata

Model: gpt-5-mini
Short Digest: ec253c69

Response Measures

None

Description

Article (Nov 8, 1933) states the First State Bank of Steger is in receivership with receiver's payments to depositors; no run or reopening mentioned. Classified as suspension leading to permanent closure/receivership.

Events (1)

1. November 8, 1933 Receivership

Newspaper Excerpt: The receiver of the First State Bank of Steger, Ill., paid the depositors $5142, but the receiver's bill was for $8547 to collect and disperse the dividend.
Source: newspapers

Newspaper Articles (1)

1. November 8, 1933 The Lanark Gazette Lanark, IL

Article from The Lanark Gazette, November 8, 1933

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Article Text

BANK RECEIVERS ARE COSTLY "The receiver of the First State Bank of Steger, III., paid the depositors $5142, but the receiver's bill was for $8547 to collect and disperse the dividend. (News item). It would seem that when bank goes into receivership, the depositors might as well make up their minds that the returns will be very meager, indeed. That will happen right here in Lanark if we do not rally to the aid of the First National Bank. In the very near future depositors here will know what is required of them, and then it behooves every one to get busy. In saving the institution, we will bring a great blessing to Lanark. If we fail, no one can foretell the suffering that will be the result.