North Side State Bank (Vincennes, IN)

Episode Information

Episode UID
71015971496
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7101597 routing
Routing Number
71-0159
Start Date
August 1, 1924*
Location
Vincennes, Indiana (38.677, -87.529)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d446b8d7525c1b92

Response Measures

None

Description

Closure followed discovery of a $40,000 shortage by the bank secretary; receiver later appointed.

Events (3)
1. August 1, 1924* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed after reports the secretary Jasper McCormick admitted a $40,000 shortage (possible embezzlement/deficit).
Newspaper Excerpt
The bank closed its doors early last week and the loan association asked for a receivership ... following reports that Jasper McCormick, secretary, had admitted a shortage of $40,000
Source
newspapers
2. December 15, 1924 Receivership
Newspaper Excerpt
Acting under orders from the Knox circuit court, J. B. E. LaPlante, receiver for the Northside bank, has given notice that all persons... must make a verified proof of their claim before January 1, 1925.
Source
newspapers
3. January 26, 1926 Other
Newspaper Excerpt
bond issue ... providing for the purchase of the Northside State bank property at Second and Sycamore streets. The property is to be purchased from J. B. E. LaPlante, the bank receiver, for $9,000
Source
newspapers

Newspaper Articles (4)
1. August 25, 1924 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 25, 1924

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Article Text

WARRANTS ARE HELD UP State Examiners Still Checking Books of Vincennes Bank. By United Press VINCENNES. Ind., Aug. 25.State examiners today were checking accounts of the North Side State Bank and the Knox Building and Loan Association. The bank closed its doors early last week and the loan association asked for a receivership Saturday, following reports that Jasper McCormick, secretary, had admitted a shortage of $40,000 Evidence obtained by the examiners is being turned over to the Knox County prosecutor. but no warrants have yet been issued.

2. December 15, 1924 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, December 15, 1924

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Article Text

RECEIVER ASKS FOR CLAIMS ON NORTHSIDE BANK Acting under orders from the Knox circuit court, J. B. E. LaPlante, receiver for the Northside bank, has given notice to the effect that all persons, firms or corporations having claims or demands against this bank must make a verified proof of their claim before January 1, 1925, setting out the nature and amount of the claim or demand, the security received, if any, and any claims to preference in payment from the assets in the hands of the receiver. Proof of claim must be made on a common form, copies of which are to be received at the office of the receiver at the First National bank.

3. May 19, 1925 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, May 19, 1925

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Article Text

VS. M'CORMICK Building and Loan Receiver Alone Secured Judgment for $40,000Bank and Relatives Included. BANK RECEIVER SECURED AWARDS Both Building and Loan and Bank Receivers Are Endeavoring to Collect the Outstanding Indebtedness. W. M. Alsop, receiver for the Knox Building and Loan Association, J. B. E. LaPlante, receiver for the North Side State bank, relatives and other creditors of Jasper judgments in circuit court Monday totaling Alsop versus Jasper McCormick, Mina McCormick, Ida Kensler, Herbert Kensler, Hannamore Kensler, Aetna Life Insurance company, Los Angeles Trust and Savings Bank, Aetna Life Insurance Prudential Insurance company, company, $40,000. Phyllis Wall versus McCormick, $506.72. Anna E. McCormick versus McCormick, $506.72. Viola Pinkstaff versus McCormick, $3,402.84. LaPlante versus $3.319.16. LePlante versus Jasper McCormick, Mina McCormick and Ed Price, as the McCormick Insurance company, $775.15. Alsop versus Jasper McCormick, Mina McCormick, Los Angeles Trust and Savings bank, note and foreclosure on lots 80 and 81, Tewalt Subdivision, judgment for Alsop versus same defendants, involving 65 feet of lot 484, Broadway street, former home of McCormick, judgment for $3,Other judgments taken in circuit court Monday were La Plante receiver for the bank versus Joseph C. Wall and George L. Wall, judgment for $574.50 awarded. Sheriff ordered to sell property of George Wall first. La Planté, receiver, versus Walters, T. L. Ashbrook and Mable Walters, $197.80. LaPlante versus Frank Walters $33.80. LePlante, receiver, versus George L. Wall, $335.20. LaPlante, receiver, versus W. A. Draper and Guy Williams, $86.40. LaPlante versus Floyd E. Long and B. F. Webzley, dismissed. LaPlante, receiver, versus Marcus Bilski, Leo Bilski and George A. Bilski, $98.20. LaPlante, receiver, versus E. Russell, $526. LaPlante, receiver, versus Harry Wilson, dismissed. LaPlante, receiver, versus John C. Ruble and W. C. Ruble, LaPlante versus J. Zimmerman. F. Boyd and Charles Hollingsworth, $88.20.

4. January 26, 1926 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, January 26, 1926

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Article Text

APPROVES ISSUE FOR BRANCH $10.000 proved Monday a bond issue of $10,000 of the school city of Vincennes, providing for the chase of the Northside State bank property at Second and Sycamore streets. The property is to b: purchased from J. B. E. LaPlante, the bank receiver, for $9,000, free of all incumbrances. It is stated that the building can be remodeled at a cost not to exceed $1,000. The school city plans to purchase the property for use as a branch library, for the use of the people of the north end of the city. The school city has a branch library in the building at present which is well patronized. They building is being used at present on a rental basis.