6201. Pittsboro State Bank (Pittsboro, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 29, 1932
Location
Pittsboro, Indiana (39.864, -86.467)

Metadata

Model
gpt-5-mini
Short Digest
a9cff7b0

Response Measures

None

Description

No run is reported in the articles. The bank suspended operations at the end of December 1932 and was closed/placed in receivership (State Bank of Lizton appointed receiver). Later (1935) Lizton established a branch and paid dividends. Dates: suspension reported Dec 30, 1932; closure/receivership stated as Dec 29, 1932 in a later article.

Events (2)
1. December 29, 1932 Receivership
Newspaper Excerpt
The State Bank of Lizton was appointed receiver for the Pittsboro State Bank when it closed Dec. 29, 1932.
Source
newspapers
2. December 29, 1932 Suspension
Cause Details
Article gives no cause for the suspension; only reports the bank suspended business and had $60,000 deposits.
Newspaper Excerpt
The Pittsboro State Bank suspended business today, according to word received by Luther F. Symons, state banking commissioner.
Source
newspapers

Newspaper Articles (2)
1. December 30, 1932 The Reporter-Times Martinsville, IN
Article from The Reporter-Times, December 30, 1932

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Article Text

BANK SUSPENDS INDIANAPOLIS, Ind., Dec. The Pittsboro State Bank suspended busl ness today. according to word receiv ed by Luther F. Symons. state banking commissioner. The institution had deposits of $60,000. O. T. Scamahorn was president.

2. July 18, 1935 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, July 18, 1935

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Article Text

CITY MAN TO DIRECT NEW PITTSBORO BANK H. E. Ayres to Have Charge of Lizton Firm's Branch Office. By Times Special PITTSBORO, July 18.-The State Commission for Public Institutions has authorized the State Bank of Lizton to establish a branch at Pittsboro. H. E. Ayres, Indianapolis, formerly with the Fletcher Trust Co., will have charge of the branch bank and will move to Pittsboro in the near future. The State Bank of Lizton was appointed receiver for the Pittsboro State Bank when it closed Dec. 29, 1932. A 20 per cent dividend has just been paid, which makes a total of 45 per cent payment to date.