Troy State Bank - Troy, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 25, 1932
Location: Troy, Illinois (38.731, -89.892)

Metadata

Model: gpt-5-mini
Short Digest: 0ef21be2

Response Measures

None

Description

Article (Mar 25, 1932) describes the bank in receivership with a receiver (Irwin Hindmarch) selling assets and court actions by depositors — no run mentioned. Indicates permanent closure/receivership rather than a temporary suspension or reopening.

Events (2)

1. March 25, 1932 Receivership

Newspaper Excerpt: Irwin Hindmarch, bank receiver, asked approval here Monday. ... sale of the assets ... set aside if $1500 as the minimum price to be paid ... Forty of the depositors ... object the final approval. Mr. Hindmarch said today that ... report Auditor Oscar Nelson must be deferred until the sale of the assets finally acted upon. (Article discusses receiver and sale of assets.)
Source: newspapers

2. March 25, 1932 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership and assets ordered sold by court/receiver after prior suspension/failure; closure by receiver/government process
Newspaper Excerpt: Mr. Hindmarch, bank receiver, asked approval here Monday. ... Mr. Hindmarch said today that ing of his final with State report Auditor Oscar Nelson must be deferred until the sale of the assets finally acted upon.
Source: newspapers

Newspaper Articles (1)

1. March 25, 1932 The Edwardsville Intelligencer Edwardsville, IL

Article from The Edwardsville Intelligencer, March 25, 1932

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Article Text

POSSIBLE Troy State Bank Depositors to Put Up as Minimum Price Under Plan. of former depositors the Troy State Bank secured circuit court order Saturday afternoon through which the sale certain sets of the bank will be set aside if $1500 as the minimum price to be paid in case another the former sale held ago was offered for assets. The bid was made by of Belleville. Forty of the depositors who had considered the sale mass sald they would object the final approval. They not resented when Irwin Hindmarch, bank receiver, asked approval here Monday. Yesterday they came into court and presented their claims ing the afternoon recess. George Liebler, chairman of committee of five, today declined discuss progress in raising a fund of $2000 pledged at the meeting carry work of the committee. There are rumors that the money has been raised and will be turned over to the Mr. Hindmarch said today that ing of his final with State report Auditor Oscar Nelson must be deferred until the sale of the assets finally acted upon.