5426. Citizens Trust & Savings Bank (Princeton, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust
Start Date
October 3, 1931
Location
Princeton, Indiana (38.355, -87.568)

Metadata

Model
gpt-5-mini
Short Digest
e907170f697a9dd5

Response Measures

None

Description

Contemporary newspaper accounts (Oct 3, 1931) report heavy withdrawals/a run leading the Citizens Trust & Savings Bank at Princeton to voluntarily close and state examiners to take charge. OCR errors in article 1 corrected (phrases reordered). No evidence the bank later reopened in these articles; examiners/receiver control is reported.

Events (3)
1. October 3, 1931 Receivership
Newspaper Excerpt
G. Inwood and L. Wright examiners for the state banking today were in charge (examiners took charge of the Trust and Savings bank).
Source
newspapers
2. October 3, 1931 Run
Cause Details
Newspapers report heavy withdrawals/a run but do not specify an explicit trigger (rumor, correspondent failure, or adverse insolvency).
Measures
Bank voluntarily closed after heavy withdrawals; banking department advised action.
Newspaper Excerpt
closed due to heavy drawals / voluntarily closed Thursday following run on the bank heavy
Source
newspapers
3. October 3, 1931 Suspension
Cause Details
Bank voluntarily closed following heavy withdrawals; state banking examiners took charge.
Newspaper Excerpt
BANK EXAMINERS TAKE OVER PRINCETON BANK; The Citizens Trust and Savings bank here closed due to heavy drawals.
Source
newspapers

Newspaper Articles (3)
1. October 3, 1931 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, October 3, 1931

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Article Text

BANK EXAMINERS TAKE OVER PRINCETON BANK G. Inwood and L. Wright examiners for the state banking today were in charge of the Trust and Savings bank Citizens which voluntarily closed Thursday following run on the bank heavy stated today that was of petition the department consent to state duct stated that depositors would probably be in full when completed.

2. October 3, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 3, 1931

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Article Text

Princeton Bank Closes PRINCETON, Ind., Oct. 3.-The Citizens Trust and Savings bank here closed due to heavy drawals. Officials of banking department advised action.

3. February 24, 1932 Evansville Press Evansville, IN
Article from Evansville Press, February 24, 1932

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Article Text

RETIRED DOCTOR AT PRINCETON IS DEAD Dr. George Kendall Prominent In Business Circles Also Correspondence PRINCETON, Ind., Feb. George Kendall, Princeton and business dead from from broken hip he suffered recently fall. One Gibson County's best known physicians until he retired year ago, Dr. Kendall was also president the Gibson County Perpetual Savings and Loan Company and closed Citizens Trust and Savings Bank. He was member the Masonic The widow, Louise, and son, Ralph, Los Angeles, CHARITY FUND BANK FAILED MILTON, winter grows more bleak for 50 destitute families here. The bank in which county and charity group relief funds were failed