5577. Citizens Savings & Trust Company (Wabash, IN)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
trust
Start Date
November 1, 1930*
Location
Wabash, Indiana (40.798, -85.821)

Metadata

Model
gpt-5-mini
Short Digest
88a9c5eab04c05d2

Response Measures

None

Description

Articles (Nov 1930 and Apr 1931) show the bank was closed, taken over by the state and placed in receivership; partial payments to depositors were being made. No article describes a depositor run prior to suspension, so this is a suspension leading to permanent closure with a receiver.

Events (3)

1. November 1, 1930* Suspension
Cause
Government Action
Cause Details
Bank was closed by the state and taken over (state action leading to suspension/closure).
Newspaper Excerpt
closed by the state and was taken over
Source
newspapers
2. November 16, 1930 Receivership
Newspaper Excerpt
Indiana state board of finance today filed a disclaimer in the petition of Aetna Casualty Co. against the receiver of the Citizens Savings and Trust Co. here
Source
newspapers
3. April 22, 1931 Other
Newspaper Excerpt
final 10 percent payment to depositors of the closed Citizens Savings & Trust company ... next ten days ... depositors paid in full
Source
newspapers

Newspaper Articles (2)

Article from Leader-Tribune, November 16, 1930

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Article Text

FILE DISCLAIMER WABASH, Ind., Nov. Indiana state board of finance today filed a disclaimer in the petition of Aetna Casualty Co. against the receiver of the Citizens Savings and Trust Co. here in which the Casualty company asks that its claim of $1.505.10 be allowed ahead of any other claims yet to be paid.


Article from Chronicle Tribune, April 22, 1931

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Article Text

JURY ACQUITS RADIO SUSPECTS DETROIT, April quesfion of killed Jerry Buckley and why?" remained unanswered today. A recorder's court jury turned verdict of acquittal in the cases of Ted Pizzino, Angelo Livecchi and Joe Bommarito The announced it had jury quitted Joe Bommarita on the first ballot taken Monday after the case had been placed in the jurors hands at 10:10 a. m. Angelo Livecchi was cleared on the fifth ballot. and Pizzino on the ninth. Bommarito and Pizzino were ao cused by the state of being two of the gunmen who entered the lobby of the Salle hotel at m. last July 23, and shot down Gerald E. Buckley, militant crusader for radio station WMBC. Two hours after he had announced the recall of the then Mayor Charles Bowles, whom he had attacked in his night ly broadcasts. Livecchi was accused by the state of signaling the gunmen. as they waited outside the hotel when Buckley was seated in the lobby and the scene was set for the assassin. ation. There was testimony during the trial to show that Buckley the scene of his death waiting at to keep an appointment made half an hour before in a telephone versation with woman Police have never divulged whether they know made that appointment In spite of stern warnings attendants any by court demonstration by spectators cheers when the were repeated dict of acquittal announced 50 o'clock tonight Mrs. Pizzino, came from New York weeks to be with her several ago husband. fainted in the arms of Al len W. Kent, Pizzino's attorney WABASH BANK WILL MAKE PAYMENT TO DEPOSITORS WABASH, Ind., April final 10 percent payment to deposit ors of the closed Citizens Savings & will be made within Trust company, the week ten days, it was next or here by Frank Plumannounced mer, attorney for the bank receiver of 70 percent was First payment made few months after the bank by the state and was taken over A ten percent payment was closed. six months later and made some percent payment about second ten will later. The next payment year close the bank records with depositors paid in full.