First State Bank - Kewanna, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1930*
Location: Kewanna, Indiana (41.019, -86.413)

Metadata

Model: gpt-5-mini
Short Digest: fa591117

Response Measures

None

Description

The First State Bank of Kewanna was placed in receivership in February 1930 (judge named Bright receiver). Articles indicate the bank closed about two weeks before Feb 12, 1930 and a receiver was appointed; later (Aug 1930) a new Kewanna State Bank was chartered to replace the closed institutions. OCR errors in Article 1 were corrected (e.g., fragmented sentences). No run is described — closure via receiver indicates government action leading to permanent closure.

Events (3)

1. February 1, 1930* Suspension

Cause: Government Action
Cause Details: Court appointment of a receiver after the bank closed and assets were frozen; judge honored petition and named Bright receiver.
Newspaper Excerpt: Bright named receiver of the First State Bank, which ... its doors two weeks ago ordered of frozen assets. Judge named the receiver after ... the bank in Kewanna.
Source: newspapers

2. February 12, 1930 Receivership

Newspaper Excerpt: Bright named receiver of the First State Bank ... He now a the in Kewanna. The bank ... had deposits $225,000. Judge Miller also honored the petition ... named the receiver for the Akron Foundry Company ... saying the company in danger and that owed many debts and claims.
Source: newspapers

3. August 9, 1930 Other

Newspaper Excerpt: Organization of a new bank, the Kewanna State bank, to be open for business Sept. 1, has been announced here ... The First State bank went into receivership last February and twenty-nine days later the American National bank was closed.
Source: newspapers

Newspaper Articles (2)

1. February 12, 1930 The Indianapolis News Indianapolis, IN

Article from The Indianapolis News, February 12, 1930

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Article Text

KEWANNA BANK RECEIVER Bright Named by Judge- Former to The News] Ind., February Bright receiver of the First State Bank, which its doors two weeks ago ordered of frozen assets. to provide bond of Judge the receiver after Luther Symons, state banking had do Kumler has as treasurer for He now a the in Kewanna. The bank and had deposits $225,000. Judge Miller also honored the petition of Harry the receiver for the Akron Foundry Company Showalter, in the for receiver, saying the company in danger and that owed many debts and claims.

2. August 9, 1930 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, August 9, 1930

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Article Text

SEE BUSINESS AID IN KEWANNA BANK Northern Town Without Can't Die Financial Plant Since Poison and Auto Crash February. Fail to Bring Desired Ball Times Special KEWANNA, Ind., Aug. 9.-OrSuicide. ganization of a new bank, the Kewanna State bank, to be open Bu United Press for business Sept. 1, has been anVANSVILLE, Ind., Aug. 9.-A nounced here by a group of local E drink of lethal poison, plus businessmen. A charter has been granted the an auto crash, failed to bring success to Lawrence Hill, 30, in new institution by the state bankhis suicide attempt, and he was ing department and all preliminary taken to a hospital in a critical arrangements have been completed. condition. The institution will have a capitalAfter drinking poison, Hill ization of $25,000 and a surplus of started down the street in his car. $6,250 when the doors are opened. It will occupy the building in which When the poison took effect he the former First State bank was lost control of the machine and located. collided with a parked car, inflictThis town suffered severe ing serious abrasions. financial reverses since the closing of its two banks last winter. The First State bank went into receivership last February and HOPPERS STILL twenty-nine days later the American National bank was closed. Since then this community has been without a bank and together ON THE MARCH with its financial losses has been seriously handicapped. The men who signed the apInsects Carry Destruction plication for the charter have not been connected with the defunct institutions. Through Posey County. They are: Henry Hirsch of By United Press Logansport, owner of an elevator MT. VERNON, Ind., Aug. 8.-Reat Grass Creek; Charles Evans, William C. Miller, Edward Kreamer lentless march of a great army of and Ralph McConnell of Kewanna, grasshoppers continued today, with and Richard M. Thomas of Grass a quarter of a mile path of destrucCreek. noth registered during