Citizens Bank - Clinton, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 20, 1931
Location: Clinton, Indiana (39.661, -87.405)

Metadata

Model: gpt-5-mini
Short Digest: 188df205

Response Measures

None

Description

OCRed article (Indianapolis Times, 1931-02-20) states 'the assets of the Citizens Bank Clinton, Vermilion county, to the First National bank', indicating the Citizens Bank's assets were sold to First National — implying closure and transfer of assets/receivership. County name corrected from 'Vermilion' (OCR). No run or depositor panic is described in the snippet, so classified as a suspension/closure (assets sold).

Events (2)

1. February 20, 1931 Receivership

Newspaper Excerpt: the assets of the Citizens Bank Clinton, Vermilion county, to the First National bank
Source: newspapers

2. February 20, 1931 Suspension

Cause Details: Assets of Citizens Bank were sold to First National Bank (closure/transfer); no run described in article.
Newspaper Excerpt: the assets of the Citizens Bank Clinton, Vermilion county, to the First National bank
Source: newspapers

Newspaper Articles (1)

1. February 20, 1931 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, February 20, 1931

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Article Text

WORK STARTED BY PLANTS IN INDIANA CITIES Connersville Reports Every Unit of Industry Has Resumed Activity. PORTLAND SHOWS GAINS One Factory Alone Giving Steady Employment to 300 Persons. BY CHARLES STONE State Editor. The Outstanding in survey of Indiana business and industry for the week ended today, is marked improvement of conditions in a number of cities, Connersville and Portland. As further indication improvement, the number of bank failures has decreased marked extent An Connersville it there are no idle and ed has made dispensing of free 300 350 persons working steadily in the Jay Garment plant Ninety in three shifts by the Sheller ComFull-time operations, with 110 employed. are reported by the Portland Forge and Foundry Company. Operations will be resumed the Creamery Package Company. Radio Plant Busy Steady operation for the remainder February and through March forecast for the United States Radio and Television Corporation at Marion, which is em1,024 persons. About April curtailment is expected due to The General Parts Corporation that has taken over the of service for Moon Motor Car Company Louis, an crease in its working though the Moon has there are about of the cars still in use, providing market for parts. The American Sheet and Plate Company's plant at Gary placed capacity production basis next week. Officials refuse to state how long this will continue, declaring operations are being conducted on week week The oxide department of the Grasselli Chemical Company East Chicago has resumed operations, leading to that entire plant soon be working. Damaged Factory to Work Resumption of operations by Monday by the Ricke Metal Products Corporation, whose plant suffered damages $20,000 fire this week. The corporation has large including for 960,000 pieces and another for 300,000. In banking. the principal developments for the week included the assets of the Citizens Bank Clinton, Vermilion county, to the First National bank, which will give the buyer total assets of more than $1,800,000. Bank to Be Opened At Rensselaer, sufficient stock has been to reopen the Trust and Savings bank, which closed 16, and it is expected to resume by March to purchase of the Rush County the South eastern Indiana Power acquired about ninety miles of line serving ten Efforts are being made by the Chamber of Mt. Verto obtain lessee for the Van Camp Packing Company plant, folthe that operations for the this are not but ing consent for leasing