State Bank (Valparaiso, IN)

Episode Information

Episode UID
71027571585
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
7102757 routing
Routing Number
71-0275
Start Date
January 1, 1932*
Location
Valparaiso, Indiana (41.473, -87.061)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e178f82ec3eb273d

Response Measures

None

Description

OCR errors in Article 2 obscure some phrasing; dates are inferred from publication context.

Events (2)
1. January 1, 1932* Suspension
Cause
Macro News
Cause Details
Part of the wider banking collapse/closing of banks in early 1932 that affected Valparaiso and led to suspensions
Newspaper Excerpt
Valparaiso, one the communities hard hit by the banking collapse the first part the year, ... the city's three banks suspended
Source
newspapers
2. May 17, 1932 Reopening
Newspaper Excerpt
State Bank nearing ... reopening assurance through ... (publication date May 17, 1932).
Source
newspapers

Newspaper Articles (2)
1. January 12, 1932 Vidette-Messenger of Porter County Valparaiso, IN
Article from Vidette-Messenger of Porter County, January 12, 1932

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Article Text

DEPOSITORS OF THE FIRST STATE BACK OFFICERS (Continued from page one) State Bank and Thrift Trust company was given when Stanley B Sink, president of the Valparaiso Chamber of Commerce arose and read a formal resolution passed by the board of directors of the civic body in special meeting this afternoon, in which they went on record as endorsing the program, submitted by the bank's management and urging the public to "serve its own interests" by standing solidly behind the emergency plan submitted to the depositors. "The successful operation of this plan for the First State Bank will be of material assistance in the reopening of the other banks of Valparaiso," the resolution read. Valparaiso was calm today, in contrast to the excitement of yesterday. The appeal of Judge Loring, published in yesterday's edition of The VIDETTE-MESSENGER, calling for sanity and cool judgment on the part of depositors in his bank and the public generally, apparently had calming effect. There was no sign of "run on the bank" today. At no time was there any demand for withdrawals. Many times as much cash was deposited as was withdrawn. If the movement launched today is given the support it apparently has prompted, officials of the First State Bank are confident the situation brought on by the crisis of yesterday, will be mastered.

2. May 17, 1932 Vidette-Messenger of Porter County Valparaiso, IN
Article from Vidette-Messenger of Porter County, May 17, 1932

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Article Text

authorsuspensions released depositors, That the nation's banking situagreatly diested by the last month twelve Institutions were able to reclosed. the norbanking facilities will go far general confidence, lessen business distress and stimulate forces working toward roeovery admitted. Valparaiso, one the communities hard hit by the banking collapse the first part the year, reacting encouragingly. With of the city's three banks susthe remaining institution pended, over hundred new accounts. the people the not lost confidence banking and that they appreciate While true that banks now are operating on very careful basis, holding credit extensions to minimum, they are pervaluable and necessary services. Complete restitution banking operations awaits decision on the those having funds, that stitutions now operating, are $200,been "brought" out of hoarding, the two months and placed in circulation, indicates that banking returning. However, as bankers are required to prepared to meet heavy prompted by fear uncertainty, they will have carry huge cash balances. For instance, Valparaiso's going bank. in statement, listed cash serves at $140,000. They are known much higher at this time. While this may bolster confidence strangles normal operations banking service is dependant upon funds to be not funds held for liquidity. That Valparaiso the making best of its financial situation factor ment. Officials of Bank, have guided safely through the confident that the support depositors and the general insures sucoperation. State Bank nearing of the operatreopening assurance through with and dealings with dominated by the them they consequence, have no real respect opinion pretty French returned to Paris after States. "Bathtubs can't mean culture and skyscrapers don't prove anything the status civilization," said Mademoiselle Fournier. "What have we to learn from culture of males who let the rule them? would prefer to the Orient where subjugated, but happy. American girl nothlove and just out who can earn plendollars for her, also wash the dishes every night after dinner the baby to French saying was fault Another argued that the Amertoward women was the fact that Colonial they shared all the hardships the and well earned be respected and even ended declaring that there men left the the much better