Peoples State Bank - Arcadia, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 19, 1916
Location: Arcadia, Indiana (40.176, -86.022)

Metadata

Model: gpt-5-mini
Short Digest: 3f7138c0

Response Measures

None

Description

Article (South Bend News-Times, 1916-06-19) reports the bank is in the hands of a receiver after president John Luther Hinshaw over-drew his account. No mention of a depositor run; this is a bank-specific failure (overdraft/embezzlement) resulting in receivership/closure.

Events (2)

1. June 19, 1916 Receivership

Newspaper Excerpt: The bank is in the hands of a receiver.
Source: newspapers

2. June 19, 1916 Suspension

Cause: Bank Specific Adverse Info
Cause Details: President John Luther Hinshaw charged with overdrawing his account by $3,000; part of alleged bank wrecking scheme.
Newspaper Excerpt: John Luther Hinshaw was placed on trial ... being charged with having overdrawn his account in the People's State bank of Arcadia ... The bank is in the hands of a receiver.
Source: newspapers

Newspaper Articles (1)

1. June 19, 1916 South Bend News-Times South Bend, IN

Article from South Bend News-Times, June 19, 1916

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Article Text

PLACED ON TRIAL Another Noblesville Bank Wrecker is Before Court. International News Service: NOBLESVILLE, Ind., June 19.John Luther Hinshaw was placed on trial today in the third of the Hamilton county bank wrecking cases, being charged with having overdrawn his account in the People's State bank of Arcadia, of which he was president, to the extent of $3,000. The bank is in the hands of a receiver. His brother, E. M. Hinshaw, was found guilty recently of conspiracy to wreck the Farmers and Merchants bank of Cicero, and sentenced to prison.