5707. State Bank (Goshen, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 13, 1931
Location
Goshen, Indiana (41.575, -85.831)

Metadata

Model
gpt-5-mini
Short Digest
3c776aca

Response Measures

None

Description

The State Bank of Goshen voluntarily closed on Feb. 13, 1931 and was found insolvent by examiners. A receiver was petitioned and later appointed; no article describes a depositor run prior to closure. Classification: suspension leading to permanent closure/receivership.

Events (2)
1. February 13, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors ordered the bank closed after examination revealed insolvency and irregularities; closure described as to protect depositors and following discovery of deficiencies (about $50,000).
Newspaper Excerpt
The bank was closed on order of the state board of directors Feb. 13.
Source
newspapers
2. March 3, 1931 Receivership
Newspaper Excerpt
William Shoots ... has [been] appointed receiver of the State Bank ... report of the examiners set deficiency of the institution at $50,000. (March 3 articles)ASK GOSHEN BANK RECEIVER ... petition ... was filed ... Feb. 19 ... Judge L. L. Burris has fixed Feb. 26 as the date for hearing ... A. G. Hoovens ... has been agreed upon as receiver. (Feb. 19 article).BANK RECEIVER SUES IN GOSHEN ... William L. Shoots, receiver for the State Bank of Goshen, which was closed Feb. 13 ... filed suit ... (Mar. 22).
Source
newspapers

Newspaper Articles (8)
1. February 16, 1931 The Times-Mail Bedford, IN
Article from The Times-Mail, February 16, 1931

Click image to open full size in new tab

Article Text

SEEKING Leigh whose home McNeeley had BANK RECEIVER Audit Being Made To Determine Condition Of Institution Now Closed GOSHEN, Ind., Feb. receiver to asked this week for the State Bank of Goshen, institution which voluntarily closed night order protect its depositors, Plans liquidate the institution through Amasa Hoovens, dent the City National abandoned after prelimiaudit Thomas Barr, nary deputy state commissioner. Barr the liquidation possible view probable the Hoovens likely will be named receiver an probably levied on the holders the capital stock. William Dexhaimer, Fort complete audit and when finished definite plans Frank E. Yoder, former cashier and vice president the present State Bank, who disappeared from his home Friday night after the bank closed, has been located. His wife she does know says whereabouts. Other persons connected the bank cannot account for his disappearance, irregularities in his affairs have been disclosed.

2. February 16, 1931 The Evansville Journal Evansville, IN
Article from The Evansville Journal, February 16, 1931

Click image to open full size in new tab

Article Text

to asked this week for the State Bank of Goshen, million-dollar which closed last Friday night in der to Plans the institution through Amasa G. of the City National bank, were abandoned preliminary audit by Thomas D. Barr deputy state bank commissioner. Barr said the liquidation was impossible in of the probable insolvency of the bank. Hoovens likely be named relevied on the holders of the $100,000 capital

3. February 19, 1931 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, February 19, 1931

Click image to open full size in new tab

Article Text

ASK GOSHEN BANK RECEIVER The Tribune's Service. GOSHEN, Ind., Feb. 19.-A petition for the appointment of a receiver for the State Bank of Go. shen, which was closed last week, was filed in the circuit court here Wednesday afternoon by Luther Symons, state banking commissioner, through Attorney General James M. Ogden. The petition merely recites that banking has made examination of the records of the bank, and has found it to be in an insolvent condition. Judge L. L. Burris has fixed Feb. 26 as the date for hearing on the petition. It is understood that A. G. Hoovens, president of the City National bank, has been agreed upon as receiver. Frank E. Yoder, vice president and for many years cashier of the bank, who left his home here last Friday evening, sent word to his ramily that he would return to the city soon.

4. February 25, 1931 The Evansville Journal Evansville, IN
Article from The Evansville Journal, February 25, 1931

Click image to open full size in new tab

Article Text

ment said it was the directors' belief that "If the affairs of the institution are closed through low cost receivership. that the loss, if any, to the depositors, will be nominal.' Burned to Death By Own Camp Fire Goshen Bank Loss To Be Slight, Claim Start Work on Greenhouses COSHEN, Ind., Feb. 25. (AP) century go America's foremost (By Journal Special Service) With the state banking department's sprinter, died of heart disease last DEKOVEN, Ky., Feb. 25.-The body night. examination nearly completed. directof Joe Austin, 48, was found burned of the State Bank of Goshen have to death near here last night. It is MAYOR TO MAKE SCHOOL TALK issued a statement declaring they are Preliminary work on the new city believed his clothes became ignited Mayor Griese will talk on "Child convinced the institution is insolvent greenhouses on West Heights road when he got too near the flames of a Health and Protection" from the side Hearing on petition for appointwas to be started Wednesday, accord- camp fire he had built. of the community at the Lincoln Ment of a receiver is scheduled for ing to Mayor Griese. With the com- high school Thursday night at 8:15 tomorrow. pletion of the plans, an ordinance A Wisconsin legislator proposed o'clock. The public is invited. The bank was closed on order of the state crime bureau for the analysis appropriating funds for the nurseries board of directors Feb. 13. The state- and classification of crime evidence. READ THE WANT ADS. TODAY. will be presented to the council. Charlie Parsons Dies LOS ANGELES Feb. 25 (AP) Charlie Parsons, 48, quarter of

5. March 3, 1931 The Times Hammond, IN
Article from The Times, March 3, 1931

Click image to open full size in new tab

Article Text

APPOINTED BANK RECEIVER GOSHEN, Ind., March Shoots, president of Goshen of Commerce, appointed of the State Bank of closed weeks report heardeficiency of the institution

6. March 3, 1931 The Times Hammond, IN
Article from The Times, March 3, 1931

Click image to open full size in new tab

Article Text

APPOINTED BANK RECEIVER GOSHEN, Ind., March William Shoots, president of the Goshen Chamber of Commerce, has receiver of the State Bank closed al weeks report of the examiners set deficiency of the institution at $50,000.

7. March 22, 1931 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, March 22, 1931

Click image to open full size in new tab

Article Text

BANK RECEIVER SUES IN GOSHEN The Tribune's GOSHEN, Ind., March William L. Shoots, receiver for the State Bank of Goshen, which was closed Feb. 13, late this afternoon filed suit in the circuit, court against 54 stockholders of the bank, seeking to recover total of $100,000 as Ownership of the stock varies from four to 160 shares of stock, and it is estimated that 90 per cent of the liability will be paid. Harris Oppenheim, for many years president of the bank, but who retired from the presidency and directorate several years ago, is the heaviest stockholder.

8. August 7, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 7, 1931

Click image to open full size in new tab

Article Text

BANK AUDIT ORDERED Data on Which to Fix Blame for Goshen Closing Sought. By Times Special GOSHEN, Ind., Aug. 7.-A petition of William J. Armour and Oscar Miller, stockholders in the defunct State Bank of Goshen, asking that an audit be made for the purpose of fixing blame for its failure has been granted by Judge L. L. Burris of Elkhart circuit court. The court has directed the receiver, William L. Shoots, to employ a competent auditor to examine books and records of the bank at a cost not to exceed $1,000.