5385. Citizens State Bank (Windsor, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1933*
Location
Windsor, Illinois (39.441, -88.595)

Metadata

Model
gpt-5-mini
Short Digest
2bd893ee

Response Measures

None

Description

The Citizens State Bank of Windsor failed to open after the moratorium and a receiver was appointed in August 1933. Dividend distributions to depositors were later made (May/June 1934). There is no mention of a depositor run prior to suspension; the failure to open and appointment of a receiver indicate a suspension followed by permanent closure/receivership (suspension_closure).

Events (3)

1. August 1, 1933* Receivership
Newspaper Excerpt
The undersigned Auditor of Public Accounts hereby gives notice that has appointed William Receiver of Citizens State Bank Windsor, Windsor, Shelby County, Illinois, and that the said William O'Connell has given bond and is the qualified and acting Receiver of said bank. Dated this day of August, 1933. (Auditor's notice). and the bank went into receivership Aug 25. from later article confirming date. . }
Source
newspapers
2. August 25, 1933 Suspension
Cause
Government Action
Cause Details
Bank failed to open after the moratorium; subsequently placed in receivership by state authorities/under state moratorium procedures.
Newspaper Excerpt
This is the first dividend to be paid since the bank went into receivership Aug 25. The bank failed to open after the moratorium.
Source
newspapers
3. May 17, 1934 Other
Newspaper Excerpt
Depositors of the Commercial State Bank of Windsor and the Citizens' State Bank of this city will receive dividends shortly... checks for 30 per cent of claims would be ready for distribution June 1. The estimated sum to be distributed by the Citizens' State Bank is approximately $24,000. This is the first dividend to be paid since the bank went into receivership Aug 25. The bank failed to open after the moratorium. (news report). .
Source
newspapers

Newspaper Articles (4)

Article from Shelby County News-Gazette, September 12, 1933

Click image to open full size in new tab

Article Text

Roll of Honor ADVERTISERS listed below win this special privilege of being listed in this Roll of Honor: Commercial State Bank. Receiver's Notice, Citizens State Bank. Adlerika for bowel troubles. John M. Smith, coal. E. C. Baker, well drilling. Ray Kingston, coal. Gays Business Directory. Garvin & Son, knives, all kinds. A. V. Wallace, tractor repairing. Most Powerful Sales Medium THE LOCAL Newspaper is, and should be, recognized as the most powerful sales medium.


Article from Shelby County News-Gazette, November 7, 1933

Click image to open full size in new tab

Article Text

Legal Publication Auditor's Notice State of Illinois. Office of Auditor of The undersigned Auditor of Public Accounts hereby gives notice that has appointed William Receiver of Citizens State Bank Windsor, Windsor, Shelby County, Illinois, and that the said William O'Connell has given bond and is the qualified and acting Receiver of said bank. All persons having claims against said bank are hereby notified and requested to present the same to said Receiver forthwith and to make legal proof thereof. All persons indebted to said bank requested to make immediate payment to the Receiver. Dated this day of August, 1933. Edward J. Barrett, Auditor of Public Accounts the State of Illinois. (Advertisement 71-93T) John J. Baker, Attorney EXECUTRIX'S NOTICE Notice is hereby given, That the undersigned will attend before the Probate Court of Shelby County, Illinois, at the January Term thereof, D. 1934, for the purpose of settling and adjusting all claims against the Estate of Almos H. Kenny, Deceased, when and where all persons holding claims against said Deceased. are notified and requested to present the same for adjustment. All persons indebted to said Estate are requested .to make immediate Mary Kenny. Executrix. Shelbyville, Illinois, October 25th, (Advertisement (Official Publication) Report of the condition of Commercial State Bank located at Windsor, State of Illinois, at the close of business on the 29th day of September, 1933, as made the Auditor of Public Accounts of the State of Illinois, pursuant to law. Resources Cash. Other Cash Resources and Due from Banks (1-2-3) 41,635.12 Government vestments (4) 20,000.00 Other Bonds and Securities (5) 6,600.00 Loans on Collateral Security (6a) 65,237.42 Other Loans (6b) Loans on Real Estate (6c) 74,683.17 Overdrafts (7) 1,145.21 Other Real Estate (8) 6,988.89 Banking House, Furniture and Fixtures (9) 12,475.00 10. Customers' Liability under Letters of Credit (10) None 11. Customers' Liability account of Acceptances (11) None 12. Other Resources (12) None Total Roseurces Liabilities Capital Stock (1) Surplus (2) Undivided Profits (Net) Reserve Accounts (4) Demand Deposits (5a) Time Deposits (5b) Due to Banks (5c) Payable (6a) (6b) 10. Dividends Unpaid (7) Letters of Credit (8) Bank Acceptances (9) Other Liabilities (10) Subscribed and sworn to before this 24th day of October, 1933. Clifford Bence, (SEAL) Notary Public.


Article from JG-TC: Journal Gazette and Times-Courier, May 17, 1934

Click image to open full size in new tab

Article Text

BANK DEPOSITORS TO GET DIVIDEND Windsor, Ill., May 17.-Depositors of the Commercial State Bank of Windsor and the Citizens' State Bank of this city will receive dividends shortly. A Circuit Court order is expected to release $46,746 to pay the first 15 per cent of claims in the Commercial State Bank. Deputy Receiver Deal L. Rankin of the Citizens' State Bank said Wednesday that checks for 30 per cent of claims would be ready for distribution June 1. The estimated sum to be distributed by the Citizens' State Bank is approximately $24,000. This is the first dividend to be paid since the bank went into receivership Aug 25. The bank failed to open after the moratorium.


Article from The Decatur Daily Review, May 17, 1934

Click image to open full size in new tab

Article Text

Two Windsor Banks to Pay Commercial State Depositors Get 15 Per Cent; Citizens' 30. WINDSOR-Depositors of two Windsor banks, the Commercial State bank of Windsor and the Citizens' State bank, will receive dividends shortly. A Shelby county circuit court order is expected to release $46,746 Thursday to pay the first 15 per cent of claims in the Commercial State bank. Deputy Receiver Deal L. Rankin of the Citizens State bank said Wednesday that checks for 30 per cent of claims would be ready for distribution June 1. Personal Loans $189,000 The Commercial state was closed Dec. 5, following the suicide of President C. C. Firebaugh while checkers were examining the bank. A receiver was appointed Dec. 16 and C. E. Walker, deputy receiver. and Ira Aull of Kincaid, assistant deputy, took charge Dec. 28. A statement issued April 21 by a depositors committee found personal loans carried by the bank were $189,000. Real estate mortgages were valued at $112,000. real estate including bank and fixtures around $24,000, resources not including cash and bonds at around $328,000. Citizens to Split $24,000 It is reported that the move to organize a new bank is marking time as government red tape draws out the proceedings. The estimated sum to be distributed by the Citizens state is approximately $24,000. This is the first dividend to be paid since the bank went into receivership Aug. 25. The bank failed to open after the moratorium. been appointed guard in the office of State Treasurer John C. Martin and left Wednesday for Springfield to take over his new duties. Mr. Phelps is precinct committeeman in the seventh precinct in Clinton