Farmers Bank - Otterbein, IN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 6, 1930
Location: Otterbein, Indiana (40.491, -87.096)

Metadata

Model: gpt-5-mini
Short Digest: 19434851

Response Measures

None

Description

OCR-damaged article. Text refers to the 'Farmers' State' at Otterbein (interpreted as Farmers Bank / Farmers' State Bank) being closed but may be opened within ... days under 60/90-day certificate arrangements. No explicit run is described; the bank is described as having been closed and likely to reopen under the 30/60/90 rule amid other local bank closures, so classified as a suspension with reopening. Date of article used as reference (1930-03-06); exact suspension date not given in the text.

Events (1)

1. March 6, 1930 Suspension

Cause: Local Banks
Cause Details: Closure occurred amid other local bank failures/closures in the county; described as part of regional banking disturbances rather than a depositor run or bank-specific scandal. Plans to reopen under 60/90-day time certificates were reported.
Newspaper Excerpt: one said to-day that the FarmState at Otterbein, in county, may be opened within days under the as Monon.
Source: newspapers

Newspaper Articles (1)

1. March 6, 1930 The South Bend Tribune South Bend, IN

Article from The South Bend Tribune, March 6, 1930

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Article Text

LAKEVILLE BANK RECEIVER NAMED Citizens Trust & Savings Appointed; Others Likely to Right Selves. The Citizens Trust & Savings bank of South Bend to-day named for the Lakeville State bank by Judge Cyrus E. Pattee in circuit court. appointment made after hearing which Thomas Barr, bank declared that the closed its doors two weeks ago, is insolvent and that receiver is needed to protect the interests depositors and Officials of the Citizens' Trust & Savings take defunct bank's affairs under the order signed by Judge Pattee indicated to-day that three other banks in St. Joseph Marclosed during the week of deposits thrown by the banking following that they are preparto make of The bank of Lapaz State bank at which have. total of about $300,000 have received permission from the state authorities to make after an that sufficient assets to meet the claims of It also indicated to-day that the Farmers' State bank of Walkercounty, be placed has been circulated by special reported, and majority of have the be allowed to the claims Traders' bank at in White county, which closed doors ago, opened depositors agreed to sign certificates the payment of their time certificates will run for 60 and 90 days and one said to-day that the FarmState at Otterbein, in county, may be opened within days under the as Monon.