Farmers State Bank - Summitville, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 13, 1932
Location: Summitville, Indiana (40.339, -85.644)

Metadata

Model: gpt-5-mini
Short Digest: 2c02249f

Response Measures

None

Description

Article (The Star Press, 1932-09-20) states the Farmers State Bank voluntarily closed its doors last Tuesday and a receiver was appointed by the court. No run or depositor panic is described. Closure appears permanent with receiver appointed.

Events (2)

1. September 13, 1932 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank voluntarily closed its doors (court/department petition initiated winding up).
Newspaper Excerpt: the bank, which voluntarily closed its doors last Tuesday.
Source: newspapers

2. September 20, 1932 Receivership

Newspaper Excerpt: A. Vinson ... was this morning appointed by Judge Lawrence Busby of Circuit Court, as receiver for the bank, which voluntarily closed its doors last Tuesday.
Source: newspapers

Newspaper Articles (1)

1. September 20, 1932 The Star Press Muncie, IN

Article from The Star Press, September 20, 1932

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Article Text

SUMMITVILLE BANK RECEIVER IS NAMED Farmers State Cashier Appointed by Court. Summitville, Ind., Sept. A. Vinson, who has been cashier of rick the Farmers State Bank here for number of years, was this morning appointed by Judge Lawrence Busby of Circuit Court, as receiver for the bank, which voluntarily closed its doors last Tuesday. Mr. Vinson is expected to file bond of $10,000 as required by the court order within the next day or two, and and begin active work on the liquidation of the bank's assets. His appointment was made on the petition of the Indiana banking department, through Luther Symons, the most economical means of closing up the daughter, bank's affairs. expected that distribution of quick assets will be made to depositors in short time as result of the apDavis pointment of the receiver. There are no indications that steps will be taken this time to re-open the bank for business. All-day services were held at the and Baptist Church Sunday in connection with evangelistic services. basket after the morning worship, and largely tended fellowship with special held in the afternoon. The night drew an audience which filled the building. teenth Special services will continue every night this week. Reeder. Red Cross sewing unit has been organized here with Mrs. Harold Kilchairman. materials will used pending the arrival terson, shipment of the cotton cloth donated by the government. Cast off and outgrown garments will also be made into suitable clothing for children. Mrs. John Bezell was hostess to the September of the New Hope Community Club. Mrs. Joe Elsworth will be hostess to the meeting. District and Mrs. Thompson are en route home by motor from Portland, Ore., where they the national the Legion. They are Post and Muncie. Mrs. Fred Moss. They will stop in for visit with sister of Mr. Moss.