Citizens State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 20, 1930
Location: Lagro, Indiana (40.838, -85.730)

Metadata

Model: gpt-5-mini
Short Digest: eee1e6ac

Response Measures

None

Description

Article (Oct 20, 1930) reports the Citizens State Bank of Lagro as closed and a receiver (Ike Duffey) suing the former cashier for conversion of deposits. No mention of a depositor run; closure with receiver points to suspension followed by permanent closure due to bank-specific malfeasance (embezzlement).

Events (2)

1. October 20, 1930 Receivership

Newspaper Excerpt: Ike Duffey, receiver for the closed Citizens State bank of Lagro, seeks to recover $37,800 from Theodore Gillespie, former cashier of the bank.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Allegation that former cashier Theodore Gillespie converted deposits to his own use (embezzlement).
Newspaper Excerpt: closed Citizens State bank of Lagro
Source: newspapers

Newspaper Articles (1)

1. October 20, 1930 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, October 20, 1930

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Article Text

Receiver Sues for $37,800 By Times Special WABASH, Ind., Oct. 20.-In a suit filed in Wabash circuit court here, Ike Duffey, receiver for the closed Citizens State bank of Lagro, seeks to recover $37,800 from Theodore Gillespie, former cashier of the bank. It is alleged Gillespie converted to his own use money presented at the bank for depositing.