5813. Citizens State Bank (Indianapolis, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 30, 1930
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
4ca1a80a

Response Measures

Full suspension, Books examined

Other: State banking commissioner took charge; appears to be permanent closure/receivership (no reopening reported). OCR variations in bank address and president's name (Pullen/Pullin).

Description

Multiple contemporaneous articles report a run (heavy withdrawals) on Dec 30, 1930; the State Banking Commissioner closed the bank and took charge. There is no article evidence the bank later reopened; it was placed in the hands of the state (effectively closed/receiver).

Events (3)
1. December 30, 1930 Run
Cause Details
Unspecified heavy withdrawals/run started that morning; articles do not attribute run to a specific rumor, correspondent failure, or local shock.
Measures
Bank officers reported heavy withdrawals; state banking commissioner was called in.
Newspaper Excerpt
A run was started this morning ... Heavy withdrawals were given as the reason for the bank's suspension
Source
newspapers
2. December 30, 1930 Suspension
Cause
Government Action
Cause Details
Closed by the State Banking Commissioner who took charge after heavy withdrawals/run.
Newspaper Excerpt
The state banking department ... closed the Citizens State bank ... Luther F. Symons, state banking commissioner, was called there. He closed the institution
Source
newspapers
3. May 15, 1931 Other
Newspaper Excerpt
John Pullen, ... former official of two state banks which closed in December, attempted to take his life today. ... Pullen was president of the Citizens State bank ... The west side institution closed the morning of Dec. 30 and in the afternoon the Maple road bank was closed.
Source
newspapers

Newspaper Articles (8)
1. December 30, 1930 The Daily Reporter Greenfield, IN
Article from The Daily Reporter, December 30, 1930

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Article Text

ANOTHER BANK CLOSED INDIANAPOLIS, Dec. 30 (INS)The Citizens State Bank with deposits of nearly $1,000.000 closed its doors here at noon today State Banking Commissioner Luther Symons went to the bank in person to take charge of the institution's affairs. "Heavy withdrawals." were given as the reason for the bank's suspension by officers of the bank. The Citizens State Bank was one of the largest banks in West Indianapolis. It is located a: 2600 West Michigan street. The bank is twenty years old. John W. Pullin is president. Mrs. Don Thomas and Mrs. Landon New spent Monday in Indianapolis. Miss Irene Bannister. of Scipio, is spending a few days in this city with her sister. Mrs. Luke Bailey. Miss Helen Peters of Shelbyville is spending a few days with Jane Brannan of North State street. Miss Brannan will return with Miss Peters for a few days visit

2. December 30, 1930 The Oregon Daily Journal Portland, OR
Article from The Oregon Daily Journal, December 30, 1930

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Article Text

Citizens State Bank At Indianapolis Is Closed, After Run Indianapolis, Dec. Citimens bank with deposits of nearly closed its doors here at noon today. "Heavy withdrawals" were given reason for bank's suspension by officers of the bank. Topeka, Kan., Dec. 30.-(U.P)-The College State bank of Manhattan today closed its doors. The bank had capital of 000 and deposits of $76,977. The state bank has taken over the institution for liquidation. Clarkedale Miss., Dec. Planters National bank and Planters Trust & Savings bank, affiliated institutions, closed today. Combined deposits, according to the last statements, totaled Los Angeles, Cal., Dec. 30.-(INS)-Declaring that depositors and investors in the United States Building & Loan have filed notices of withdrawal of nearly $4,000,000 and that assets the association cannot Liquidated in time to meet the demands, attorneys for creditor today filed friendly suit in United States district court asking for appointment of federal receiver in equity to take control of the association.

3. December 30, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 30, 1930

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Article Text

BANK ON WEST SIDE IS CLOSED BY STATE City Institution Is Expected to Be Able to Pay All Claims. The state banking department was forced to close the Citizens State bank, 2602 West Michigan street, at noon today because of heavy withdrawals. A run was started this morning and Luther F. Symons, state banking commissioner, was called there. He closed the institution and announced that, in his opinion, the bank would be able to pay all claims. John W. Pullen is president and Frank Driver cashier. The bank had deposits totaling $1,403,000; capitalization was $100,000; surplus, $100,000; undivided profits, $27,000; loans, $678,000, and other liabilities, $53,000.

4. December 30, 1930 Tallahassee Democrat Tallahassee, FL
Article from Tallahassee Democrat, December 30, 1930

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Article Text

Banks In Three States Are Closed (Continued from One) listed as $79,329 on September 24. New Bank Formed La., Dec. 30. Shreveport, the Continental Formation of Bank, which has Trust Savings assets and liabilitaken the Continental Bank ties of the was announced Trust Company, here today. bank has paid in The new of and capital stock of $100,000. in surplus Indiana Bank Fails Indianapolis, Ind., Dec. 30. (INS) State Bank with Citizens deposits of nearly closed its doors here at noon today withdrawals,' were giv"Heavy the bank's the reason as of the bank. by officers suspension The Citizens State Bank, one in west Inlargest banks of the old. 20 years dianapolis,

5. December 31, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 31, 1930

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Article Text

STATE CONTROLS BANK Maple R d Institution Is in Hands of Indiana Department. Affairs of the Maple Road State bank, 3817 North Illinois street, were in the hands of the state banking department today, directors of the institution having closed its doors Tuesday afternoon to stem a run and conserve its assets. The bank's closing came a few hours after the Citizens State bank, 2602 West Michigan street, was closed by the banking department for the same reasons. The Maple Road State bank was capitalized at $25,000; had loans of $180,000, deposits of $180,000, and surplus of $10,000. K. T. Brock is president and L. V. Wright, cashier. J. W. Pullen, president of the Citizens State bank, is vice-president of the Maple Road bank.

6. December 31, 1930 The Daily Sentinel-Tribune Bowling Green, OH
Article from The Daily Sentinel-Tribune, December 31, 1930

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Article Text

Indianapolis State Bank is Closed Dec. Citizens State Bank with posits of nearly closed its yesterday. were given the reason for the bank's suspension officers of the bank. The Citizens State Bank, one of the largest banks in West Indianapolis, is years

7. January 1, 1931 Greenfield Republican Greenfield, IN
Article from Greenfield Republican, January 1, 1931

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Article Text

ANOTHER BANK CLOSED The Citizens State Bank with posits nearly closed doors here today State Banking Luther Symons went the bank person take charge the the pension by officers of the bank The Citizens State Bank largest banks West dianapolis. located West Michigan John Pullin The annual Christmas dinner Allen Ward family held the family home of Clarence Ward and family at Fortville Those present Allen and Isophine, and daughter, Hildred, Jesse Jarrett and family of Indianapolis, Jack wife and daughter, Freda Mae, Ralph Ward and wife Eden. bountiful dinner spread after which Christmas distributed from under beautiful tree Miss Josephine Wilson is confined her home Main street on account of illness.

8. May 15, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 15, 1931

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Article Text

Lying on the garage floor near the exhaust of his car, which was running, John Pullen, 50, of 418 Buckingham drive, former official of two state banks which closed in December, attempted to take his life today. Following first aid treatment at his home, Pullen was rushed to city hospital where he received oxygen treatments. Later he was removed to the Methodist hospital. His condition was reported as "fair" by physician. Pullen had gone to the garage at 5 a. m. His brother-in-law, William Guynn, 52, of the same address, found him at 7:30. Pullen lay with his head at the end of the exhaust. He had covered his head with an overcoat, which, police said, possibly prevented his death. Pullen was president of the Citizens State bank, 2600 West Michigan street, and vice-president of the Maple Road State bank, Thirtyeighth and Illinois streets. The west side institution closed the morning of Dec. 30 and in the afternoon the Maple road bank was closed. Recently, according to Mrs. Gertrude Pullen, his wife, Pullen has been in ill health. He returned from Martinsville Sunday. First aid was administered Pullen