Newton County State Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: November 5, 1931
Location: Kentland, Indiana (40.770, -87.445)

Metadata

Model: gpt-5-mini
Short Digest: 3b279792

Response Measures

Full suspension

Other: Closure appears permanent; no receiver or reopening mentioned in the article.

Description

Article (The Brook Reporter, 1931-11-06) reports the Newton County State Bank closed unexpectedly due to heavy withdrawals (many to pay taxes). No reopening mentioned; closure appears permanent. Dates inferred from publication: bank closed Thursday morning (1931-11-05).

Events (2)

1. November 5, 1931 Run

Cause Details: Heavy withdrawals (seasonal/tax payments) that drained liquidity
Newspaper Excerpt: The closing to this bank was a surprise ... It is said that the closing was caused by heavy withdrawals, many of the withdrawals no doubt being made to pay taxes.
Source: newspapers

2. November 5, 1931 Suspension

Cause Details: Bank closed its doors following heavy withdrawals; described as a surprise closure in the article
Newspaper Excerpt: The Newton County State Bank, Kentland's only remaining bank closed its doors this Thursday morning.
Source: newspapers

Newspaper Articles (1)

1. November 6, 1931 The Brook Reporter Brook, IN

Article from The Brook Reporter, November 6, 1931

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Article Text

NEWTON COUNTY STATE BANK CLOSES The Newton County State Bank, Kentland's only remaining bank closed its doors this Thursday morning The osing to this bank was a surprise to residents of the county as few people had any intimation that there was any danger of the closing. The statement of the bank published on Sept. 29th gave total resours S as $241,575 53. The amount due from trust companies, banks, bankers and cash on hand was $24,076 35, while the bi 3 payable amounted to $20,000.00 It is said that the closing was caused by heavy withdrawals, man of the withdrawals no doubt being made to pay taxes. Officers of the bank were: T. H Dixon, president; R. J. Carton, vice-president; A. A. Bishopp, cashier; R. T. Coughlin asst. Cashier.