First State Bank (Urbana, IL)

Episode Information

Episode UID
70025971531
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7002597 routing
Routing Number
70-0259
Start Date
July 1, 1927*
Location
Urbana, Illinois (40.111, -88.207)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e1bad705f7bc8774

Response Measures

None

Description

Bank was taken over by three other Urbana banks in July 1927; closure is explicit but cause not fully detailed.

Events (1)

1. July 1, 1927* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank taken over by three other local banks after indebtedness and assignment of real estate; implies insolvency/financial trouble
Newspaper Excerpt
the First State Bank until it was taken over by three other Urbana banks
Source
newspapers

Newspaper Articles (2)

Article from The Pantagraph, July 8, 1927

Click image to open full size in new tab

Article Text

Former Bank President Signs Over Real Estate Urbana, July 7.β€”(Specialβ€”Herman L. Ascher and wife, the former president of the First State Bank until it was taken over by three other Urbana banks, today assigned to E. L. Phillips, representing the purchasers, real estate to apply on the $66,650 indebtedness. Two trust deeds providing the assignment were filed for record. The first is for $56,650.06, of which $45,656.06 represents a note of Ascher's held by the First State bank. The balance is on notes in the following amounts: A. M. Burke, Champaign, $4,500; Charles H. Wallace, Homer, $2,329.52; Douglas R. Fay, Urbana, $3,000; George W. Lawrence, Urbana, $1,690. The other trustee deed is for $10,000, representing an indebtedness to the First State bank for money borrowed for the Apperson-Cleveland company.


Article from JG-TC: Journal Gazette and Times-Courier, December 8, 1927

Click image to open full size in new tab

Article Text

THREE FORGED CHECKS PASSED IN THIS CITY Strange Woman Gets $64.05 in Cash From Business Houses. Forged checks were cashed last Friday by three Mattoon stores for a strange, dark complexioned, plainly dressed woman who had made purchases before presenting her worthless paper. All the checks were returned by the Central Illinois Trust and Savings Bank, after they in turn had received them back from the Federal Reserve Bank of Chicago. One of the checks cashed was by W. R. Gross for $28.50, one by Mrs. W. R. Herron for $24.50, and one by W. S. Yaden for $27.50. An attempt was made by the woman to pass a $24.50 check on O. W. Reynolds, a grocer, 510 South Seventeenth street, but failed. On Urbana Firm. Evidently the checks are being put out by an organization of check passers. All were written on crudely printed blanks with rubber type serial numbers stamped in the upper left hand corner, and bear the words: "Urbana, Ill., Dec. 1, 1927. Sowers & Corkey, Contractors and Builders." They are drawn on "The First State Bank of Urbana," a bank which was closed last July. It is said the woman passed all the checks late on Friday afternoon, when the banks were closed. At the Herron place a purchase of $9.45 was made, and the woman was given $15.05 change. At the Gross store the purchase was $4, and $24.50 change was given, and at the Yaden store the purchase was $3 and $24.50 change was given the woman on the forged check. On purchasing a small bill of groceries at the Reynolds grocery the woman presented the check, which Mr. Reynolds suspected, and asked the woman to secure a good endorser or else get the check cashed elsewhere. The woman then asked him to hold the goods and she would get the check cashed and return for the groceries, which she never did. Woman Gets $64.05 in Cash. All the victims have forged checks of the same kind. The Federal Reserve Bank had red slips stating that the bank in question had been closed. Sowers & Corkey of Urbana replied to telephone inquiries that they had never issued such checks, which purported to bear the signature of F. W. Sowers, and were endorsed by "F. J. Clark," which is the name the woman gave. The woman secured $64.05 in cash, and three merchandise purchases. As the discovery of the forgeries was not made known until today, there is said to be little likelihood apprehending the woman, as she was a stranger. CHICAGO NABS ALLEGED GANGSTER OF ST. LOUIS By International News Service. Chicago, Dec. 8.β€”A fusillade of revolver shots resulted in the capture here today of Louis Danberket of St. Louis, said to be a gangster, when police attempted to arrest him as he sat in an automobile containing two loaded sawed-off shotguns. Two companions of Danberket fled down an alley. When the alleged St. Louis gangster attempted to follow them, police fired to intimidate Danberket. Danberket refused to "talk."