Farmers State Bank (Preemption, IL)

Episode Information

Episode UID
70170871600
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7017087 routing
Routing Number
70-1708
Start Date
April 12, 1933
Location
Preemption, Illinois (41.313, -90.585)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f3a7477959dbb002

Response Measures

None

Description

Articles show the bank in receivership and closed, but the exact suspension/closure date is not clearly stated in the excerpts.

Events (3)
1. April 12, 1933 Receivership
Newspaper Excerpt
BANK RECEIVER IN PREEMPTION ISSUES ... quarterly statement of the receiver, Simpson ... Cash on hand is given at $41.48, deposit Continental Illinois National Bank and Trust company, Chicago.
Source
newspapers
2. July 8, 1933 Other
Newspaper Excerpt
Receivers File in Reports in ... the Farmers State bank Preemption were filed. ... Dividends totaling been paid which common creditors received 99 cent. per
Source
newspapers
3. * Suspension
Cause
Government Action
Cause Details
Bank placed in receivership under state banking department/receiver for closed state banks; closure administered by receiver
Newspaper Excerpt
receivership offices for 11 closed Mercer county banks ... Farmers State bank of Preemption
Source
newspapers

Newspaper Articles (4)
1. April 12, 1933 The Rock Island Argus Rock Island, IL

Article Text

BANK RECEIVER IN PREEMPTION ISSUES Simpson, Officer of Farmers State Bank Makes Quar. terly Statement. (Special to The Argus.) Aledo, III.. April 12. Cash amounting to on hand toward the payment of the next dividend to depositors of the Farmers State Bank of Preemption, according to the quarterly statement of the receiver, SimpThe statement to filed this term of Mercer circuit court, and with the state banking department. Notes and discounts are listed overdrafts and items, $1.75: interest, $311.55; total ceipts, balance report, $1,884.91; total to be accounted $2,755.67. Disbursements amounted $357.25 salary expenses the receiver; legal expense expense distributed, $376.88; balance hands receiver. $2,378.79: to be accounted for $2,755.67. Cash on hand is given at $41.48, deposit Continental Illinois National Bank and Trust company, Chicago.

2. July 8, 1933 The Daily Times Davenport, IA

Article Text

Receivers File in Reports in ALEDO, July of three closed banks Mercer county were filed in Mercer county circuit court and proved by Judge Paul Califf yesterday. The reports the Aledo State bank, Aledo; Farmers State bank North Henderson the Farmers State bank Preemption were filed. Baner receiver the Aledo bank; Shaver of the bank North and Simpson the Preemption bank. April 18 there was cash of hand at the Aledo State bank the audit shows. Dividends to have paid of which to creditors, the balance being paid The audit shows that sources totaling charged against the bank of which $274,270.47 per cent been collected. Of as liabilities 23.58 per cent been liquidated with cash or inventory balance at the the bank closed, Dec. Adjustments totaled liabilities liquiwere cash offsets. The amount remaining is listed At the Farmers State bank North hand April listed Dividends totaling have been paid since was closed Aug. 18, 1931. Total were charged against the bank and upon. Net with being charged On April cash balance reported the Farmers State bank Preemption. Dividends totaling been paid which common creditors received 99 cent. per Resources closing Dec. were charged Cash realized from these with $1,848.55 offsets.

3. February 7, 1934 The Rock Island Argus Rock Island, IL

Article Text

BANK RECEIVER FILES REPORTS Quarterly Statements of Receipts and Expenditures Approved by Judge. (Special to The Argus.) Aledo, III., Feb. 7.-Quarterly statements of the Farmers State bank of North Henderson, the Farmers State bank of New Windsor, Farmers State bank of Burgess, the Farmers State bank Preemption and Citizens State bank of Keithsburg have been filed in Mercer county circuit court Aledo by Deputy Receiver Connors, acting for William O'Connell, receiver. The statements follow: BANK NORTH HENDER- discounts Total this report FARMERS STATE OF Notes and items, Total Receiver's report STATE BANK OF Receipts. hand date accounted attorney this report Balance receiver STATE BANK OF Notes discounts Interest receipts hand last Total Balance receiver Receipts. premiums. and Overdrafts, cash items, hand report Receiver's hire Other Deposited Chicago

4. September 11, 1935 The Rock Island Argus Rock Island, IL

Article Text

ALEDO WORK OF BANK RECEIVER TO BE SHIFTED Offices for 11 Closed Mercer Institutions Will Be Moved to Moline. Receivership offices for 11 closed Mercer county banks are being transferred from Aledo to Moline, J. M. Connors, deputy receiver in charge of Rock Island and Mercer counties, announced today. The receivership offices will be combined with those of Rock Island county in the Fifth Avenue bank building, 1611 Fifth avenue, Moline, Mr. Connors announced in behalf of William L. O'Connell, receiver for all closed Illinois state banks. The bank receiverships in Mercer are those of Aledo State bank of Aledo, Farmers State bank of Burgess, Citizens State bank of Keithsburg, Matherville State bank of Matherville, State Bank of New Boston, Bank of New Windsor, Farmers State bank of Windsor, Farmers Bank of North Henderson, Farmers State bank of Preemption, Preemption State bank of Preemption, Farmers State bank of Reynolds. Mr. Connors said consolidation will make possible considerable reduction of personnel and thus result in savings in the administration of the receiverships. The Mercer county banks have been under the jurisdiction of Mr. Connors for some time, making necessary numerous trips to Aledo which will be eliminated by the new arrangement. Elmer Smith and G. S. Greer, who have been in charge of the Aledo office, will be transferred to Moline and other employes of the Aledo office will be dismissed, it was said.