Elmwood Park State Bank

Episode Information

Episode UID: 70203671578
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7020367 routing
Routing Number: 70-2036
Start Date: June 10, 1931
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 06b75cc1c5ca6d5d

Response Measures

None

Description

Closure ordered by an auditor; article gives no clear follow-up about reopening or final disposition.

Events (1)

1. June 10, 1931 Suspension

Cause: Government Action
Cause Details: State banking auditor ordered the bank's doors closed pending an investigation.
Newspaper Excerpt: Auditor ordered the doors closed on the Elmwood Park State Bank, a suburban institution with deposits of slightly more than million dollars, pending an investigation.
Source: newspapers

Newspaper Articles (1)

1. June 10, 1931 The Philadelphia Inquirer Philadelphia, PA

Article from The Philadelphia Inquirer, June 10, 1931

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Article Text

Chicago Banks Move to Conserve Assets Continued From Page 17 banks closed their doors yesterday, awaiting determination of their position as a result of the merger. Three others were closed to prevent runs, making of eighteen outlying institutions locked up in days. Banks May Be Absorbed Bankers said the chances were favorable the or absorption later of most, if not all, of these banks. John Bain. Jr. said the closings were the result of "the general pub"Runs developed on several of the banks of the chain, Bain said. "These were the result of the closing of the Washington Park and South Side Trust. of which were affiliates of the Foreman-State group. As such situation in one chain might affect others, we found it desirable to close Auditor ordered the doors closed on the Elmwood Park State Bank. a suburban institution with deposits of slightly more than million dollars, pending an investigation.