American Trust & Savings Bank (Evansville, IN)

Episode Information

Episode UID
71000771594
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
7100077 routing
Routing Number
71-0007
Start Date
October 1, 1932*
Location
Evansville, Indiana (37.975, -87.556)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
286314586d4d9992

Response Measures

None

Description

Bank closed and placed in voluntary liquidation under state law; liquidator appointed July 1933.

Events (3)
1. October 1, 1932* Suspension
Cause
Voluntary Liquidation
Cause Details
Bank closed and placed in voluntary liquidation (closed in October; later managed by state-appointed liquidator).
Newspaper Excerpt
Five Evansville banks now in liquidation under Welborn's They are the American Trust and Savings and Lamasco closed in October
Source
newspapers
2. October 24, 1932 Other
Newspaper Excerpt
Attempt of Walter Schreeder, a depositor, to have a receiver appointed for the American trust and savings bank, Evansville, will be argued before the Indiana supreme court Tuesday.
Source
newspapers
3. July 21, 1933 Other
Newspaper Excerpt
O. P. Welborn ... was named by the commission to take charge all banks in the Indiana district that are in voluntary liqui... The five banks affected are the American and Savings ... Welborn and his three will take over the affairs of the Evanaville Monday
Source
newspapers

Newspaper Articles (4)
1. October 24, 1932 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 24, 1932

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Article Text

BANK CASE TO COURT Supreme Judges to Hear Evansville Arguments on Tuesday. Attempt of Walter Schreeder, a depositor, to have a receiver appointed for the American trust and savings bank, Evansville, will be argued before the Indiana supreme court Tuesday. The hearing is on a writ of prohibition, obtained by officers of the bank and the state banking department, restraining Circuit Judge Benjamin Buente from granting a judgment against the bank in Schreeder's favor. The institution is in the process of liquidation, having been declared solvent by representatives of the state banking department.

2. February 26, 1933 Evansville Press Evansville, IN

Article Text

BILL MAY RE-OPEN CLOSED BANKS HERE Local Attorney Studying Pro visions of Law Passage of the Indiana Banking Bill may of closed Bankers Saturday they had opportunity study the The bill provides reopen per the agree not draw their funds Formerly the promise of every depositor was Clyde liquidating the Howell State Bank said bank's attorney was in Indianapostudy the Officers American Trust Bank also are scrutinizing the Lamasco Bank officials law might the future of the altho directors not the matter Money is being for dividend

3. July 21, 1933 Evansville Courier and Press Evansville, IN

Article Text

Bank Liquidator Comes From Old Gibson Family O. P. Welborn Got First Training in Princeton Bank: Father Was Its Cashier Welborn member of the state financial was yesterday by Governor McNutt charge all banks in voluntary in the district comes from Gibson county family and has relatives and friends in Welborn's father Dr William Welborn, cashier of the People's at Princeton many years folthe which was here Welborn his first banker His uncle the late Judge M. Welborn presided the Gibson county circuit court bench for more than 20 in the eighties and nineties W C. Evansattorney and Dr James Welborn this city more GRADU FROM WABASH The new bank liquidator graduated from Wabash college and in known as an intellectual those who know him say He has two brothers in merchant J. mobile Princeton last night were gratified that the went to dispatches from that city said He said banker not After the bank he went to dianapolis he ated the American bank after with dent He resigned his place with this bank seven eight years HEADQU ARTERS HERE? While available last night to he would his headquarters cause the biggest part of the job he will oversee Five Evansville banks now in liquidation under Welborn's They are the American Trust and Savings and Lamasco closed in October and the West Central Union Howell banks which closed in January 1932. Of the other three banks which the Lincoln been liquidated and the North Side and Franklin Trust and Savings reopened several months

4. July 21, 1933 Evansville Courier and Press Evansville, IN

Article Text

NEW ACT AFFECTS FIVE LIQUIDATING DEPOSITORIES HERE 0. P. Welborn, Indianapolis, and Three Aids Assume Charge in Evansville Monday REPLACE PRESENT AGENTS Appointee to Control Voluntary "Settling Up' of All Southwestern Indiana Banks INDIANAPOLIS July Welborn Indianapolis memberof the commission cial tonight was named by the commission to take charge all banks in and the Indiana district that are in voluntary liquiThe of Welborn was the first step to takel by the mission in of banks of the state have closed voluntarily power given by the bank law which went into effect on July THREE ASSISTANTS NAMED In Welborn the comalso three to aid the of the Evanaville They are George W Nichol Brown of English and Edward H. DeHority of Elwood McKinley said the three assistants will be m charge of the in ville are agents which serving Welborn will authorized assistants for the other two institutions The five banks affected are the American and Savings the the Lamasco West Side bank and the Howell The American the West the Central Union are the largest the STATE DIVISION PLANNED Although Welborn will charge be the Evansdistrict McKinley yet many ties will be in that He said It would. the entire Indiana area It the plan of the commission divide state into from four six districts with an agent in charge The boundaries various districts will be defined rapidly the the banks in the districts is completed McKinlye said an agent for the Gary Bend district probably will be the next to be He He said it not the of the bers for district but that the in Evansville is such that was believed advisable there MONDAY Welborn and his three will take over the affairs of the Evon Monday Wayne Governor Paul McNutt, explained the intention the that governor the system appointing district agents be adopted with to hastening payments to depositors and making depositors as the the liquidation He said that instances ports made to the depositors on the condition of the closed banks ACTING UNDER NEW LAW Under the new Indiana law the banking department given ity to take all banks in tary liquidation but the can not interfere with those in voluntary is quested by the judge in whose court the In the arranging of the districts was said that banks in Indianthe area probably will be handled direct the offices. for many an examiner the wts tioned the probable agent for those in this