Alexandria Bank - Alexandria, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1931*
Location: Alexandria, Indiana (40.263, -85.676)

Metadata

Model: gpt-5-mini
Short Digest: 9e5ae065

Response Measures

None

Description

Article states the Alexandria Bank was closed in October 1931 and is in voluntary liquidation with a liquidating agent; the state sought to take over the liquidation in 1934. No run is described. Cause for suspension/closure appears to be voluntary liquidation.

Events (2)

1. October 1, 1931* Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed in October 1931 and entered voluntary liquidation with Armstrong acting as liquidating agent; several payments to depositors have been made.
Newspaper Excerpt: The Alexandria Bank was closed Oct 1931.
Source: newspapers

2. November 2, 1934 Other

Newspaper Excerpt: petition filed by the Alexandria Bank, now in liquidation, for an injunction to prevent the Indiana State Department of Financial Institutions from taking over the liquidation of the concern. Judge Smith did not announce his ruling, taking arguments under advisement.
Source: newspapers

Newspaper Articles (1)

1. November 2, 1934 The Alexandria Times-Tribune Alexandria, IN

Article from The Alexandria Times-Tribune, November 2, 1934

Click image to open full size in new tab

Article Text

NO DECISION IN BANK CASE Institution Contests Move Made By State Attention of Judge E. Smith, of the circuit court, was occupied inost of the day Thursday with the hear ing of arguments on petition filed by the Alexandria Bank, now in liquidation, for an injunction to prevent the Indiana State Department of Financial Institutions from taking over the liquidation of the concern. The Alexandria Bank was closed Oct 1931. and Armstrong has been acting as liquidating agent under voluntary proceedings Several payments to depositors of record at the time the bank closed have been made. Recently the state department gave notice of its purpose to take over the liquidation of the institution, and this is being resisted by the bank, which contends that the accounts of the bank being quidated as economically and efficiently as could be done by the state. The state board is contending that it has the right to take over the bank's accounts regardless of court action, and it was this phase of the case which argued yesterday Judge Smith did not announce his ruling. taking arguments under advisement.