Hoagland State Bank - Hoagland, IN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 15, 1929
Location: Hoagland, Indiana (40.948, -84.992)

Metadata

Model: gpt-5-mini
Short Digest: a50e69d6

Response Measures

None

Description

Bank closed on Jan 15, 1929 after defalcations by a former cashier. Hearing on appointment of a receiver was postponed (reported Feb 1, 1929) because the shortage had been covered and there was a strong possibility the bank would be reopened.

Events (2)

1. January 15, 1929 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Defalcations (shortage) caused by certificates of deposit issued by former cashier not on bank records; shortage later covered by return of certificates and cash.
Newspaper Excerpt: The bank closed when defalcations were Jan. 15.
Source: newspapers

2. February 1, 1929 Receivership

Newspaper Excerpt: Hearing on appointment of a receiver for the Hoagland State bank at Hoagland was postponed yesterday, according to word received at the offices ... Action on the receivership was deferred by the Allen Circuit court with the banking department ... There is strong possibility that the bank will [be] reopened in the near future, Thomas D. Barr, deputy bank commissioner, said.
Source: newspapers

Newspaper Articles (1)

1. February 2, 1929 The Indianapolis Star Indianapolis, IN

Article from The Indianapolis Star, February 2, 1929

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Article Text

HEARING POSTPONED ON BANK RECEIVER Hearing on appointment of a receiver for the Hoagland State bank at Hoagland was postponed yesterday, according to word received at the offices Luther F. Symons, state bank The bank closed when defalcations were Jan. 15. The department was informed that the entire shortage has been covered by return of certificates of deposit and cash deposits to guarantee return certificates. The certificates been issued by former cashier and were not on the records of the bank. Action on the receivership was deferred by the Allen Circuit court with the banking depart ment in order that further undesirable assets might be made good by persons connected with the transacThere is strong possibility that the bank will reopened the near future, Thomas D. Barr. deputy bank commissioner, said.