Peoples State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 7, 1930
Location: Berne, Indiana (40.658, -84.952)

Metadata

Model: gpt-5-mini
Short Digest: 806f6321

Response Measures

None

Description

Article (May 10, 1930) reports the People's State Bank of Berne was closed (closed Wednesday, May 7, 1930), placed into liquidation with a liquidating agent appointed; stockholders urged avoiding a receivership and the bank will pass out of existence and a new bank will be established. No run is described.

Events (2)

1. May 7, 1930 Suspension

Cause: Voluntary Liquidation
Cause Details: Stockholders urged that a receivership be avoided; state banking department approved liquidation and the bank was closed and to be liquidated.
Newspaper Excerpt: The bank was closed Wednesday.
Source: newspapers

2. May 10, 1930 Receivership

Newspaper Excerpt: T. A. Gottschalk ... will assume charge of the closed People's State bank here Monday, as liquidating agent. This course was approved by the state banking department after stockholders had urged that a receivership be avoided.
Source: newspapers

Newspaper Articles (1)

1. May 10, 1930 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, May 10, 1930

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Article Text

BERNE BANK TO BE LIQUIDATED State Senator Gottschalk to Be in Charge. By Times Special BERNE, Ind., May 10. - T. A. Gottschalk, a member of the Indiana state senate, will assume charge of the closed People's State bank here Monday, as liquidating agent. This course was approved by the state banking department after stockholders had urged that a receivership be avoided. It was announced that the loss to depositors will not be heavy and that immediately following the liquidation, the bank will pass out of existence. It is said a new bank will be established. The bank was closed Wednesday. It has a capital of $60,000 and a surplus of $15,000.