6218. Citizens Trust & Savings Bank (Princeton, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
October 1, 1931
Location
Princeton, Indiana (38.355, -87.568)

Metadata

Model
gpt-5-mini
Short Digest
e81d2560

Response Measures

Full suspension, Books examined

Other: State banking examiners took charge after voluntary closing following heavy withdrawals.

Description

Newspaper reports (Oct 3, 1931) state heavy withdrawals led to a run; bank voluntarily closed and state banking examiners took charge (receivership/closure). Later article (Feb 1932) references the bank as closed. Cause of withdrawals not specified in articles, so classified as 'other'.

Events (3)
1. October 1, 1931 Run
Cause Details
Heavy withdrawals/run on the bank; articles do not specify trigger (rumor, correspondent failure, or bank-specific insolvency).
Measures
Bank voluntarily closed following heavy withdrawals; banking department advised action.
Newspaper Excerpt
closed due to heavy drawals. Officials of banking department advised action.
Source
newspapers
2. October 3, 1931 Receivership
Newspaper Excerpt
G. Inwood and L. Wright examiners for the state banking today were in charge of the Trust and Savings bank ... depositors would probably be in full when completed.
Source
newspapers
3. October 3, 1931 Suspension
Cause Details
State banking examiners took charge after the bank voluntarily closed following heavy withdrawals.
Newspaper Excerpt
BANK EXAMINERS TAKE OVER PRINCETON BANK ... examiners for the state banking today were in charge of the Trust and Savings bank Citizens which voluntarily closed Thursday following run on the bank
Source
newspapers

Newspaper Articles (3)
1. October 3, 1931 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, October 3, 1931

Click image to open full size in new tab

Article Text

BANK EXAMINERS TAKE OVER PRINCETON BANK G. Inwood and L. Wright examiners for the state banking today were in charge of the Trust and Savings bank Citizens which voluntarily closed Thursday following run on the bank heavy stated today that was of petition the department consent to state duct stated that depositors would probably be in full when completed.

2. October 3, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 3, 1931

Click image to open full size in new tab

Article Text

Princeton Bank Closes PRINCETON, Ind., Oct. 3.-The Citizens Trust and Savings bank here closed due to heavy drawals. Officials of banking department advised action.

3. February 24, 1932 Evansville Press Evansville, IN
Article from Evansville Press, February 24, 1932

Click image to open full size in new tab

Article Text

RETIRED DOCTOR AT PRINCETON IS DEAD Dr. George Kendall Prominent In Business Circles Also Correspondence PRINCETON, Ind., Feb. George Kendall, Princeton and business dead from from broken hip he suffered recently fall. One Gibson County's best known physicians until he retired year ago, Dr. Kendall was also president the Gibson County Perpetual Savings and Loan Company and closed Citizens Trust and Savings Bank. He was member the Masonic The widow, Louise, and son, Ralph, Los Angeles, CHARITY FUND BANK FAILED MILTON, winter grows more bleak for 50 destitute families here. The bank in which county and charity group relief funds were failed