Aetna State Bank (Chicago, IL)

Episode Information

Episode UID
2025071599
Episode Type
Suspension → Reopening
Bank Type
trust
Bank ID
202507 routing
Routing Number
2-0250
Start Date
March 1, 1933*
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
00b7f681d07f6449

Response Measures

None

Events (2)
1. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank closed in March and deposit liabilities transferred and RFC involved; closure appears to have been under regulatory/receivership arrangements
Newspaper Excerpt
the bank had when it closed last March
Source
newspapers
2. January 12, 1934 Reopening
Newspaper Excerpt
AETNA STATE TO REOPEN TODAY; FREES $157,000 The Aetna State bank, 2375 Lincoln avenue, will reopen this morning, freeing 40 per cent or $157,000 of the deposits which the bank had when it closed last March. ... State Auditor Edward J. Barrett authorized the reopening.
Source
newspapers

Newspaper Articles (2)
1. January 12, 1934 Chicago Tribune Chicago, IL

Article Text

AETNA STATE TO REOPEN TODAY; FREES $157,000 The Aetna State bank, 2375 Lincoln avenue, will reopen this morning, freeing 40 per cent or $157,000 of the deposits which the bank had when it closed last March. The balance of the deposit liabilities has been transferred to a separate corporation, which has also assumed a $380,000 loan which the bank owed the RFC.

2. January 12, 1934 Chicago Tribune Chicago, IL

Article Text

The Aetna State bank, 2375 Lincoln avenue, will reopen this morning, freeing 40 per cent or $157,000 of the deposits which the bank had when it closed last March. The balance of the deposit liabilities has been transferred to a separate corporation, which has also assumed a $380,000 loan which the bank owed the RFC. James Maltman, president, who founded the bank 20 years ago, stated that the $157,000 of deposits is covered 100 per cent by liquid assets. Release to the bank of $100,000 of liquid securities held as collateral by the RFC and surrender by stockholders of 50 per cent of their stock enabled the bank to reopen. Part of the stock given up by stockholders was resold, realizing $56,000 for the bank. The remaining $44,000 will be held in trust by the Aetna Trust corporation for the benefit of the bank and may be sold later. State Auditor Edward J. Barrett authorized the reopening.