North Side State Bank - Vincennes, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 25, 1924
Location: Vincennes, Indiana (38.677, -87.529)

Metadata

Model: gpt-5-mini
Short Digest: 1549e077

Response Measures

None

Description

Article (Indianapolis Times, 1924-08-25) reports the North Side State Bank closed its doors early last week and state examiners are checking books after reports that the secretary admitted a $40,000 shortage; no run is mentioned and a receivership request is noted for the related loan association. Classified as a suspension that leads to closure (receivership/closure implied).

Events (1)

1. August 25, 1924 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Reports that Jasper McCormick, secretary, had admitted a $40,000 shortage; examiners checking books and evidence turned over to prosecutor.
Newspaper Excerpt: State examiners today were checking accounts of the North Side State Bank ... The bank closed its doors early last week
Source: newspapers

Newspaper Articles (1)

1. August 25, 1924 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, August 25, 1924

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Article Text

WARRANTS ARE HELD UP State Examiners Still Checking Books of Vincennes Bank. By United Press VINCENNES. Ind., Aug. 25.State examiners today were checking accounts of the North Side State Bank and the Knox Building and Loan Association. The bank closed its doors early last week and the loan association asked for a receivership Saturday, following reports that Jasper McCormick, secretary, had admitted a shortage of $40,000 Evidence obtained by the examiners is being turned over to the Knox County prosecutor. but no warrants have yet been issued.