5387. First State & Savings Bank (Wood River, IL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
November 17, 1922
Location
Wood River, Illinois (38.861, -90.098)

Metadata

Model
gpt-5-mini
Short Digest
6481eea8

Response Measures

Full suspension, Books examined

Other: State auditor closed the bank pending investigation; cashier resignation triggered withdrawals.

Description

Articles state the cashier's resignation (about two weeks earlier) started a run and on Nov 17, 1922 the State Auditor closed the bank pending examination. No reopening or receivership is reported in these clippings, so treated as run leading to suspension/closure by state action.

Events (2)
1. November 17, 1922 Run
Cause
Bank Specific Adverse Info
Cause Details
Resignation of the cashier (I. C. Hatridge / F. H. Partridge in OCR variant) triggered depositor withdrawals and panic.
Newspaper Excerpt
the resignation of I. C. Hatridge, cashier, two weeks ago, is said to have started a run on it.
Source
newspapers
2. November 17, 1922 Suspension
Cause
Government Action
Cause Details
State Auditor Russell ordered the bank closed and restrained from doing business pending examination and adjustment of its affairs.
Newspaper Excerpt
The First State and Savings bank of Wood River ... was closed today by State Auditor Russell and will be restrained from doing business pending investigation and adjustment of its affairs.
Source
newspapers

Newspaper Articles (2)
1. November 17, 1922 The Daily Ardmoreite Ardmore, OK
Article from The Daily Ardmoreite, November 17, 1922

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Article Text

WOOD RIVER BANK IS CLOSED BY AUDITOR ALTON III.-The first State and Savings bank of Wood River, near here, was closed today by State Auditor Rus. sell and will be restrained from doing business, "pending investigation and adjustment of its affairs. The bank's cap. ital is listed at $100.000 and its surplus at $75,000. It was organized in 1909 and is a state institution. The bank's latest reports show depos. its of $900,000 but the resignation of I. C. Hatridge, cashier, two weeks ago, is said to have started a run on it.

2. November 17, 1922 The Rock Island Argus and Daily Union Rock Island, IL
Article from The Rock Island Argus and Daily Union, November 17, 1922

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Article Text

BANK CLOSED AT WOOD RIVER, ILL. State Auritor Russel Shuts Doors Pending Examination and Adjustment". Alton, Ill., Nov. 17.-The First State and Savings bank of Wood River, near here, was closed today by State Auditor Russel, who stated the institution would refrain from doing business "pending examination and adjustment" of its affairs. The bank's capital is listed. at $100,000 and its surplus at $75,000. It was organized in 1959 and H. H. Clark is president. It is a state institution and is not connected with the federal reserve system. The bank's latest report showed deposits of $900,000 but #the resignation of f. H. Partridge, cashier, two weeks ago, is said to have started a run on it.