State Bank - Hammond, IN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 1, 1932*
Location: Hammond, Indiana (41.583, -87.500)

Metadata

Model: gpt-5-mini
Short Digest: ee853141

Response Measures

Full suspension

Other: Liquidating agent appointed; later new Calumet State Bank organized to occupy same quarters.

Description

Articles report the State Bank of Hammond closed in January 1932 after heavy withdrawals (run), was briefly turned back to officers and reported to reopen on Jan 25, 1932, but ultimately remained in liquidation with Theodore Moor named liquidating agent. Thus a run led to suspension and eventual permanent closure/liquidation.

Events (4)

1. January 1, 1932* Receivership

Newspaper Excerpt: Theodore Moor ... was named liquidating agent. Barr said the bank was in such condition as to permit its reopen- ... he now is serving as liquidating agent ... has been liquidating assets since that time.
Source: newspapers

2. January 1, 1932* Run

Cause: Local Banks
Cause Details: Heavy withdrawals following widespread bank failures/panic in the area (many local banks closed); depositors withdrew funds.
Measures: Bank was turned back to its officers and reported to reopen; Theodore Moor named liquidating agent.
Newspaper Excerpt: which closed January after heavy the tion to for business today
Source: newspapers

3. January 1, 1932* Suspension

Cause: Local Banks
Cause Details: Suspension/closure occurred in January 1932 amid heavy withdrawals and local banking distress; state banking department placed institution in liquidation oversight later named liquidating agent.
Newspaper Excerpt: This bank closed January 1932 ... Mr. Moor immediately appointed liquidating agent for Institution
Source: newspapers

4. January 25, 1932 Reopening

Newspaper Excerpt: BANK AT HAMMOND TO REOPEN DOORS ... The bank will be open for all today, receiving and paying deposits, Anthon Tapper, president.
Source: newspapers

Newspaper Articles (6)

1. January 25, 1932 Journal and Courier Lafayette, IN

Article from Journal and Courier, January 25, 1932

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Article Text

BANK AT HAMMOND TO REOPEN DOORS HAMMOND, Ind. Jan. State Bank Hammond, which closed January after heavy the tion to for business today The bank was turned back to its officers Saturday Thomas bank examiner, and Barr, state Theodore Moore, cashier, was named liquidating agent. Barr said the bank was in such condition as to permit its reopen- The bank will be open for all today, the receiving and paying deposits, Anthon Tapper, president. The date for of be announced soon, Tapper said.

2. February 20, 1932 The Llano Colonist New Llano, LA

Article from The Llano Colonist, February 20, 1932

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Article Text

A RECORD YEAR FOR BANK FAILURES Bank failures reached a record total of 2,302 in the United States in 1931, according to figures given by the American Banker. Net deposits of $1,580.000,000 were involved Bank failures and mergers led to a reduction in the number of banks in the country to 20,700 at the end of the year, with deposits of approximately $50,000,000,000. With the increasing number of bank failures, the point has been reached where quite a number of cities are completely without banks. In Hammond, Ind., where there used to be seven banks, for instance, every bank has been closed, the last two to fail being the National Bank of Hammond and the State Bank. Only one bank was open for business last month in nearby Gary. Iowa City also joined the growing list of bankless midwest cities on January 20, as two banks closed there. In Urbana, Ill., a five-day "emergency holiday" had to be ordered by the mayor to halt hysteria brought on by bank suspensions in Champaign and Urbana. Meanwhile American bankers are taking alarm at the increasing number of depositors who seek safety in the government postal savings department, despite its low rate of interest. A recent letter from the chairman of the New York State Bankers Association to member institutions calls on them to bring pressure on Congress to curtail government expenditures and points out that it is wrong in principle that the government should operate a banking business in competition with privately owned institutions.. Deposits of government savings banks have increased thruout the United States since 1929 from $167,800,000 to $596,660,000 on December 31, 1931. This represents a new record, according to post office officials, being $68,000,000 more than on November 30, and almost three times the amount on deposit in November, 1930.

3. January 30, 1933 The Times Hammond, IN

Article from The Times, January 30, 1933

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Article Text

STATE BANK REPORTS ARE PREMATURE Liquidating Agent of Bank Silent On Plans for Institution Reports that the suspended State Bank of Hammond would opened characterized "premature" today Theodore Moor, former cashier of the tution, who now serving uidating nothing to at this time," Mr. Moor declared. When asked not he had made application to the state charter board for charter, Moor repeated that he had nothing present. will release an official nouncement definite transpires," Mr. Moor said. This bank closed January 1932, time that the Hammond National Bank company suspended Mr. Moor immediately appointed liquidating agent for Institution by He been that time addition to erating currency exchange in the banking quarters. Last summer applied to the Finance loan $200,000 which reopen the Lengthy negotiations followed. but nothing defimaterialized. reported that curity for loan than the bank able to furnish. Shortly after the institution was placed liquidation, state banking declared it in good shape and that the departwould in any plan to open the Anton Tapper was president of the State Bank until he affiliated the Hammond National Bank Trust company its president.

4. January 30, 1933 The Times Hammond, IN

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Article Text

STATE BANK REPORTS ARE PREMATURE Liquidating Agent of Bank Silent On Plans for Institution Reports that the suspended State Bank of Hammond would be reopened soon were characterized "premature" today by Theodore Moor, former cashier of institution, who now is serving as liquidating agent. have to this time," Mr. declared. When asked whether or not he had made application to the state charter board for charter, Mr. Moor repeated he nothing to at present. release an official announcement as soon as definite transpires," Mr. Moor said. This bank was closed January same time that the Hammond National Bank and Trust company operations, Mr. Moor appointed liquidating agent his institution by banking department. He has been liquidating assets since that time addition operating currency exchange in the banking quarters. Last summer he applied to the Finance for loan of $200,000 which to reopen Lengthy negobut definite reported that the curity the than the bank able furnish. Shortly after the institution placed in liquidation, the state banking in good shape and that the department would aid in plan to open the Anton Tapper president of the State Bank of Hammond until he became affiliated with the Hammond National Bank Trust company its president.

5. February 24, 1933 The Times Hammond, IN

Article from The Times, February 24, 1933

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Article Text

MOOR NAMED DEFENDANT Theodore Moor, cashier of the suspended State Bank of Hammond action for $1,500 District receiver for defunct First National Bank of Gary Moor being sued for liability shares stock the institution $300 interest. Force, filed the action for Receiver

6. February 24, 1933 The Times Hammond, IN

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Article Text

NEW BANK WILL OPEN MARCH The newly organized Calumet State Bank Hammond will opened for business in the quarters formerly occupied by the suspended State Bank of Hammond Calumet avenue. Joseph Meyer, president of the Indiana Botanic Gardens, Hammond, head the banking institution president and the chairman of the board of directors. and Moor Mr. Moor cashier the Bank Hammond. He liquidating agent for Directors of the bank Joseph William Eric Haehnel, HeckleLeo Harold Meyer and Charles Scott. The bank by the state the forepart month $25,000. According Mr. Meyer, will Hammond erated exclusively by Hammond terests business men.