State Bank (Clinton, IL)

Episode Information

Episode UID
70039671585
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7003967 routing
Routing Number
70-0396
Start Date
January 7, 1932
Location
Clinton, Illinois (40.154, -88.965)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cdf23f696cf79a59

Response Measures

None

Description

Bank closed January 1932 and remained in receivership with ongoing dividend payments; no reopening reported.

Events (8)
1. January 7, 1932 Suspension
Cause Details
Bank closed (insolvency/closure) on January 7, 1932; contemporary accounts do not state a specific triggering rumor or correspondent failure.
Newspaper Excerpt
the city's money which was on deposit at the State bank of Clinton January 7, 1932. the day the bank closed
Source
newspapers
2. January 26, 1932 Receivership
Newspaper Excerpt
State Auditor Oscar Nelson yesterday announced ... had been appointed bank receiver for the defunct State Bank of Clinton. The auditors finished up their work at the State Bank late Saturday evening. Mr. Watson yesterday stated that the bank will remain closed for the week before the bank is ready to accept any claims
Source
newspapers
3. February 4, 1932 Other
Newspaper Excerpt
the bank now open and all claims will [be] heard against the bank. Likewise, Receiver Watson ready to accept payment on all debts owed the bank
Source
newspapers
4. December 28, 1932 Other
Newspaper Excerpt
the suit was brought to recover funds withdrawn by Mr. Walden from his own account on the day the bank closed
Source
newspapers
5. June 5, 1933 Other
Newspaper Excerpt
$6,300 in Dividends Paid Out by Clinton State Bank Receiver
Source
newspapers
6. October 23, 1933 Receivership
Newspaper Excerpt
Grover W. Watson, who has been acting temporary receiver of the defunct State bank of Clinton, was named permanent receiver
Source
newspapers
7. November 2, 1934 Other
Newspaper Excerpt
Grover W. Watson, receiver of the Clinton State bank, reports the sale of the north portion of the Puritan Products building
Source
newspapers
8. January 10, 1935 Other
Newspaper Excerpt
receiver for the defunct State Bank of Clinton, Wednesday paid depositors of that bank another 5 percent dividend
Source
newspapers

Newspaper Articles (13)
1. January 26, 1932 Clinton Daily Journal and Public Clinton, IL

Article Text

Grover State Bank Receiver State Auditor Oscar Nelson yesterday announced that Grover Watson, attorney of Clinton and Farmer City, and master in chancery of Dewitt county had been appointed bank receiver for the defunct State Bank of Clinton. The auditors finished up their work at the State Bank late Saturday evening. Mr. Watson yesterday stated that the bank will remain closed for the week before the bank is ready to acrept any claims May Watson also stated that Ralph Parker, former vice president of the bank would sist him in straightening the affairs of the bank.

2. February 4, 1932 Clinton Daily Journal and Public Clinton, IL

Article Text

All Ready State Grover receiver of the defunct State Bank of Clintone announced yesterday that he had completed his work and the bank now open and all claims will heard against the bank. Likewise, Receiver Watson ready to accept payment on all debts owed the bank Mr. Watson, who finished up his work at the local bank late Tuesday evening. after working for the past 10 asks all who are interested bank to assure quicker service. By all who owe the bank money asked to pay soon as possible Mr Watson also wants all bank books of depositors brought in once so the bank employees will be able work on them.

3. December 28, 1932 The Decatur Daily Review Decatur, IL

Article Text

Bank Receiver Sues Depositor Walden Is Defendant in Clinton Case. W. Watson, ceiver of the State Bank of Clinton, Walden, the caption against damage suit filed to the January term of Dewitt county circuit Tuesday. Attorney Ingham Mr. According to the bill, the suit was brought funds withdrawn by Mr. Walden from his own account on the day the bank closed. with knowledge that the bank was closed. Mr. Walden director of the State bank Clinton. Court Thursday. Wamsley will Judge here from Tuscola on Thursday hold brief session of circuit Property of Mrs. Daisy Parker in the block on West South street, will be sold by the sheriff Thursday of this week to satisfy on claim the Coe-Bradford Goods company. Sheriff Fred lison will conduct the sale at the east door of the court house at

4. December 29, 1932 The Pantagraph Bloomington, IL

Article Text

Receiver Sues Bank Director at Clinton Pantagraph Central Illinois Service. damage was January term of the filed to the court by Grover W. circuit and for the State bank of of against prominent DeWitt county and director of the bank. According to the Mr. with knowledge that the bank was closed. alleged to have to withdrawn all funds from his personal account. The is brought to recover these funds.

5. December 29, 1932 Herald and Review Decatur, IL

Article Text

BANK RECEIVER SUES DEPOSITOR A. C. Walden Is Defendant in Clinton Case Clinton-Grover W. Watson, receiver of the State Bank of Clinton, against A. C. Walden, is the caption of a damage suit filed to the Jan uary term of Dewitt county circuit court. Tuesday. Attorney L. W. Ingham represents Mr. Watson. According to the bill, the suit was brought to recover funds withdrawn by Mr. Walden from his own account on the day the bank closed. with knowledge that the bank was closed. Mr. Walden was a director of the State bank of Clinton. Court Thursday. Judge D. H. Wamsley will be here from Tuscola on Thursday to hold brief session of circuit court. Property of Mrs. Daisy Parker in the 100 block on West South street, will be sold by the sheriff on Thursday of this week to satisfy a claim of the Coe-Bradford Dry Goods company. Sheriff Fred Callison will conduct the sale at the east door of the court house at 10 a. m.

6. June 5, 1933 The Pantagraph Bloomington, IL

Article Text

$6,300 in Dividends Paid Out by Clinton State Bank Receiver Pantagraph Central Illinois of defunct State bank of Clinton ceived totalling $6,310.31 which day. Receiver Grover W paid out by Watson. This is the second dend since January this the first amounting percent. were paid out of the stockholders liability fund. According to Mr no pay ments have as yet made of the general assets of the to suit of the City of Clinton due against the bank which pending The suit is one in which the city asking to have its of $70,000 made preferred. If the city fails in attempt to have the claim made preferred one another dividend will be paid depositors immediately

7. July 22, 1933 Clinton Daily Journal and Public Clinton, IL

Article Text

City's Claim Against State Bank Approved Special William F. Smith yesterday found the city of Clinton's claim against the State bank of Clinton should be allowed The suit to make the claim of the city preferred one has been hanging fire for the past seven months and evidence has been heard during the past seven months until Master William F. Smith made his deyesterday The claim against the State bank of Clinton involves of the city's money which was on deposit at the State bank of Clinton January 7. 1932. the day the bank closed Smith's decision. render yesterday. means that the claim must be paid in full providing the decision is approved by the Dewitt county circuit court. The decision will be turned over to the circuit court for approval within the next few weeks. City Attorney Rayburn II. Wilson acted for the city while Attorney W. Ingham acted for Grover W. Watson, State bank receiver.

8. October 23, 1933 The Decatur Daily Review Decatur, IL

Article Text

Permanent Clinton Bank Receiver Named W. Watson, who acting temporary the defunct State bank of Clinwas named permanent by Judge McLaughlin in court here Saturday. The only other case taken Saturday was that George Anderson Millie Anderson for The defendant had asked for $25 for solicitors fees and $20 alimony which was granted by the court. Adjournment was taken until Nov. jury trials will

9. October 24, 1933 Herald and Review Decatur, IL

Article Text

Permanent Clinton Bank Receiver Named By Staff Clinton-Grover W. Watson, who has been acting temporary receiver of the defunct State bank of Clinton, was named permanent receiver by Judge J. L. McLaughlin in circuit court here Saturday. The only other case taken up Saturday that of George Anderson vs. Millie Anderson for divorce. The defendant had asked for $25 for solicitors fees and $20 alimony which was granted by the court. Adjournment was taken until Nov. 6 when jury trials will begin.

10. November 2, 1934 Herald and Review Decatur, IL

Article Text

Clinton Bank Receiver Sells Part of Building By Staff Correspondent CLINTON Grover W. Watson, receiver of the Clinton State bank, reports the sale of the north portion of the Puritan Products building by the bank to Joseph and Cal istus Gillen of Clinton. The building, formerly owned by Henry Sawyer of Clinton, has been rented to the Gillens for some years for the manufacture of their patent medicine, M-K. The Dewitt county emergency relief committee occupies the other part of the building purchased by the Gillen brothers.

11. November 30, 1934 Herald and Review Decatur, IL

Article Text

Lyle Crum Aids Bank Receiver at Clinton By Staff Correspondent. L. Crum of Clinton has bookkeeper and clerk with Grover W. Watson, receiver of the defunct State Bank of Clinton. He takes the place of Ralph Parker who has resigned to become deputy under County Treasurer-Elect J. B. Trowbridge.

12. November 30, 1934 The Decatur Daily Review Decatur, IL

Article Text

Lyle Crum Aids Bank Receiver at Clinton By Staff CLINTON-Lyle L. Crum of Clinton has become bookkeeper and clerk with Grover W. Watson, receiver of the defunct State Bank of Clinton. He takes the place of Ralph Parker who has resigned to become deputy under County Treasurer Elect J. B. Trowbridge.

13. January 10, 1935 The Pantagraph Bloomington, IL

Article Text

Bank Receiver Pays Dividend at Clinton Pantagraph Central Illinois Service. CLINTON.—G. W. Watson, receiver for the defunct State Bank of Clinton, Wednesday paid depositors of that bank another 5 percent dividend. The payment amounted to $14,603.64. The 5 percent dividend declared by the receiver now makes a total of 47 percent that has been paid the depositors since the bank closed in January three years ago. Previous payments were made on Jan. 1, 1933; May 28, 1933; Jan. 8, 1934; May 3, 1934, and July 6, 1934. Thirty-five percent paid out Wednesday was taken from the assets of the bank and 12 percent from the stockholders' liabilities.