First State Bank Company - Williamsfield, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 26, 1930
Location: Williamsfield, Illinois (40.923, -90.015)

Metadata

Model: gpt-5-mini
Short Digest: ca52d823

Response Measures

None

Description

Article (UP, Mar 27, 1930) reports the bank was closed by voluntary action of its directors 'yesterday' for examination and adjustment because of depletion of cash reserves. No run is mentioned and no reopening or receiver is reported. I classify the cause as voluntary action (voluntary_liquidation/voluntary suspension) due to depleted cash reserves. Date of suspension inferred as 1930-03-26 (yesterday relative to Mar 27, 1930).

Events (1)

1. March 26, 1930 Suspension

Cause: Voluntary Liquidation
Cause Details: Closed voluntarily by directors for examination and adjustment due to depletion of cash reserves.
Newspaper Excerpt: The bank was closed yesterday by voluntary action of its directors because of depletion of cash reserves.
Source: newspapers

Newspaper Articles (1)

1. March 27, 1930 The Belleville News-Democrat Belleville, IL

Article from The Belleville News-Democrat, March 27, 1930

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Article Text

Bank For Examination Springfield, Ill., March 27.-(UP). Suspension of the First State Bank Company, Williamsfield, for examination and adjustment, was announced by State Auditor Oscar Nelson here today. The bank was closed yesterday by voluntary action of its directors because of depletion of cash reserves. It has a capital stock of $30,000 and its last report showed deposits of $200,000.