Kewanee State Savings Bank & Trust Company (Kewanee, IL)

Episode Information

Episode UID
70024671598
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
7002467 routing
Routing Number
70-0246
Start Date
February 9, 1933
Location
Kewanee, Illinois (41.246, -89.925)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
92dc6659d62ccd81

Response Measures

None

Description

Directors closed the bank Feb 1933; a receiver is later referenced in 1934.

Events (3)
1. February 9, 1933 Run
Cause
Rumor Or Misinformation
Cause Details
Public mistakenly believed Kewanee State bank had closed after Kewanee Securities Co. closed, triggering heavy withdrawals
Newspaper Excerpt
the public had the impression that it was the Kewanee State bank. This caused heavy withand[w]drawals
Source
newspapers
2. February 9, 1933 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors closed the bank to conserve assets following heavy withdrawals and inability to obtain support from Chicago banks
Newspaper Excerpt
decided to close the institution in to conserve assets, their action becoming effective this morning.
Source
newspapers
3. June 21, 1934 Receivership
Newspaper Excerpt
Receiver William L. O'Connell of the Kewanee State Savings Bank & Trust company was relieved of two trusteeships by Judge L. E. Telleen.
Source
newspapers

Newspaper Articles (3)
1. February 9, 1933 The Dispatch Moline, IL

Article Text

KEWANEE STATE BANK CLOSED BY DIRECTORS Kewanee, Feb. the Kewanee State Savings Bank Trust Co. met last night and cided to close the institution in to conserve assets, their action becoming effective this morning. president of the institution, said this mornthe Kewanee Securities Co. closed the public had the impression that it was the Kewanee State bank. This caused heavy withand could get no support from Chicago banks.' The State bank had of about when In its Dec. 31, 1932, ment, reported of $513,955. Its capital stock $100,000 surplus also was Arter vice president and Witt Lomara cashier. The bank organized Dec. 12, Jacksonville Bank Sued. Springfield, Feb. that the Ayres bank which failed Nov. 1932, "wrongfully and obtained $102,055.22 state gas from Garrett Kinney Peoria, former state director the today filed suit for accounting against the bank ceiver, in federal court here.

2. June 21, 1934 The Rock Island Argus Rock Island, IL

Article Text

New Trustees to Succeed Bank Receiver (Special to The June William O'Conell of the wanee State Savings Bank and company was relieved trusteeships Judge Leonard Telleen the Henry county circuit court. asked resign and be permitted present his reports. nection the estate of Charles Barney the court appointed and he furnished bonds off for the estate of David Stewart, Judge Telleen appointed Harold Fisher, bond The approved the reports the bank trustee.

3. June 22, 1934 The Daily Times Davenport, IA

Article Text

Relieve Kewanee Bank Receiver of Two Trusteeships CAMBRIDGE, Ill., June 22. (Special) Receiver William L. O'Connell of the Kewanee State Savings Bank & Trust company was of two trusteeships by Judge L. E. Telleen. O'Connell asked to resign and be permitted to present his final reports in the matter. The first was the estate of Charles Asa Barney where R. Taylor was appointed as the trustee and furnished bonds of $15,000. The second was in the estate of David B. Stewart where Harold Fisher was appointed trustee and bond of $3,000 was furnished. The court approved the final reports of the former trustee. Believed to have once belonged to a galley of the old naval republic of Pisa, a 12-foot anchor was found recently off the coast of Italy near Leghorn.