First State Bank (Owensville, IN)

Episode Information

Episode UID
71055971584
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7105597 routing
Routing Number
71-0559
Start Date
December 1, 1931*
Location
Owensville, Indiana (38.272, -87.688)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9ae402f79d7819f5

Response Measures

None

Description

Receiver appointed by state bank commissioner; closure followed a contested merger and litigation.

Events (3)
1. December 1, 1931* Suspension
Cause
Government Action
Cause Details
The consolidated Owensville State Bank (resulting from merger including First State Bank) closed its doors in December; regulatory/commissioner action led to receivership proceedings.
Newspaper Excerpt
The resulting bank... closed its doors last December.
Source
newspapers
2. February 8, 1932 Other
Newspaper Excerpt
Another application for a bank receiver has been filed in circuit court... application is state commissioner of Indiana against the First State bank of Owensville.
Source
newspapers
3. February 19, 1932 Receivership
Newspaper Excerpt
Paul Brazelton this afternoon appointed by Judge Claude Smith in circuit court receiver for the First State bank of Owensville.
Source
newspapers

Newspaper Articles (6)
1. February 8, 1932 Princeton Daily Clarion Princeton, IN

Article Text

FIRST STATE BANK RECEIVER ASKED Another application for a bank receiver has been filed in circuit court. The title of the application is state commissioner of Indiana. against the First State bank of Owensville. A hearing is set for February 19 in the circuit courtroom. This action is supplementary to a suit filed some time ago in which a receiver was asked for the Owensville State bank and Old State bank. For man E. Knowles was named receiver. The Owensville State bank was the result of merger of two banks, the Old State and the First State banks.

2. February 19, 1932 Princeton Daily Clarion Princeton, IN

Article Text

Paul Brazelton this afternoon appointed by Judge Claude Smith in circuit court receiver for the First State bank of Owensville. The action taken by the court in the cently filed entitled State of Indiana on the Relation of Luther Symons, bank commissioner of state of Indiana against the First State bank an action the apointment of receiver. This afternoon Mr. Symons testified briefly on the stand to the bank. On question by the court, Mr. Symons advised that separate receiver be appointed rather than naming Forman Knowles, receiver of the Old State bank to that place. Judge bond $10,000 and fixed his fee month and five cent of the gross of the farms of the bank. The court asked Mr. Brazelton to secure The court against cautioned Mr. Knowles not to allow any of the offiof the bank access to the bank building and stated that the officers have no right in the bank.

3. March 23, 1932 Evansville Press Evansville, IN

Article Text

KAHN IS OWENSVILLE BANK TRIAL JUDGE Evansville Attorney to Set Date for Hearing Saturday Isadore Kahn, Evansville attorney, Wednesday was named special judge in one Owensville, Ind., bank suit to be tried at Princeton, Ind. Kahn will hear the suit of Forman Knowles, Old State Bank receiver of Owensville, against Paul Brazelton, receiver of the First State Bank of that town. Knowles asks $58,000, charging irregularities in the merger of the two banks. The consolidated bank is now closed. Judge Claude E. Smith of Gibson County Circuit Court disqualified himself because of relationship to bank officers. Kahn will go to Princeton, Ind., Saturday to set a date for hearing the case. WILMINGTON — General Stockyards Corporation reported net income for 1931 was $709,723, or $8.67 a share on the common stock, against $502,802, or $5.33 a share, in 1930.

4. May 19, 1932 Princeton Daily Clarion Princeton, IN

Article Text

TAKING VENUE IN ANOTHER BANK RECEIVER ACTION Change of venue from Special Judge John K. Chappell, of Petersburg, in the suit of Paul Brazelton. receiver for the First State bank of Owensville against Forman Knowles, receiver for the Owensville State bank. an action to "unscramble" bank assets. was taken this morning by Attorney T. Morton McDonald for Receiver Brazelton. Judge Claude A. Smith named Henry Kister, Hovey C. Kirk and 8. L. Vandeveer from whom to strike. The parLies are to strike by Monday morning.

5. June 30, 1932 Princeton Daily Clarion Princeton, IN

Article Text

BANK RECEIVER ACTION IS AGAIN IN CIRCUIT COURT ARGUMENTS HEARD IN LITIGATION GROWING OUT OF ATTEMPT TO SEPARATE ASSETS OF ONE OWENSVILLE BANK FROM THOSE OF ANOTHER The case of Paul Braselton, as re- ceiver for the First State bank of Owensville against Forman E. Knowles as receiver for the Owensville State bank: Warrick Johnson, Albert W. Thompson and James R. Montgomery as trustees for shareholders of the Owensville State bank: representatives of stockholders of the Old State bank: certificates of deposit in the Old State bank and depositors of the same bank. an action seeking an accounting of assets, came up again in circuit court today, before Special Judge S. L. Vandeveer. The case has been pending for some time and on June 25 the Gibson county board of finance was granted permission to be made party defendant. Several Issues Involved The case is considerably involved However, the principal point sought by the plaintiff to have assets of the First State bank at the time the two banks joined, separated from the combined assets and restored to the First State bank. This is sought under the theory that there was no bona fide merger but that the Old State at tempted to buy the First State bank. The resulting bank. known as the Ow ensville State bank, closed its doors last December. Under the merger theory the original assets of the First State bank would be assets of the Owensville State bank and could be levied against by the receiver of the closed institution. Arguments were heard today on a demurrer the complaint. Both sides seemed to admit that there was no law providing for merger of the two state banks. The defense, however, held that whether the result ing bank. which operated under the charter of the Old State bank was "de jure," "de facto" or simply a partnership. it did business as bank none the less and that all who entered into its operation were equally bound.

6. July 28, 1933 Evansville Courier and Press Evansville, IN

Article Text

Among Our Neighbors THE MONITOR Burglars entered the store Titus & Lloyd and stole boxes of 22 caliber shells Friends helped Mrs. R. M. celebrate her 66th A dog was killed after it had bitten the infant son of Mr. and Mrs Albert Pedigo celebrated her birthday gravel boat At lanta. Ga. pumping gravel from the river bed opposite Grandview A reforestation army building lake needed impound water supply for Lincoln park. THE WESTERN One hundred three young people of Posey county have registered for 4-H club camp now at Rockyside park Rockport Mr. and Mrs. David F. Ashworth Mt. Vernon, their 51st anniversary The Grafton Community club of Black township met with Mrs. C. L. Walker Mr. and Mrs. Dorris Cartwright observed their 40th wedding sary The American Legion composed of various posts in Posey county held big in St. Wendel One hundred thirteen acres of wheat on the Wassmer farm produced 2,040 bushels. THE TELL CITY NEWS Home and illicit liquor sellers were warned to discontinue their sales by special investigators out of attorney general's office The Kiwanis club celebrated its sixth anniversary with dinner An old time dance with old music was an attraction at the Evanston hall. THE NEW HARMONY TIMES With the issue of July 21, the Times was 41 years old. Editor Wolfe is dean of newspapermen in southern The Times has changed but in ance since the first issue ago Again New Harmony has resident minister and St. Stephen's church rector new river gauge is being installed mule belonging to John Faulkner jumped fence and plunged into a cistern and THE BOONVILLE ENQUIRER Roy R. Rucker become editormanager of the Bridgeport. III., LeadFor several years Rucker has been the Standard Clyde Perigo is the new postmaster at son was born to Mr and Mrs. Carl Forston A reis in progress at Shiloh was born to Mr. and Mrs. Emil Thene of Elberfeld THE CYNTHIANA ARGUS One Mrs. G. Kimball was attracted her porch the family cat which held baby chick unharmed Thinking probably 1t was one of her own chicks Mrs Kimball it with others However. the cat kept up the performance until about o'clock that night and four chicks The next day was that hen of meighbor Pruitt was hatching and as the chicks fell from the nest the cat proceeded to take them to Kimball home THE CANNEL TON TELEPHONE The family reunion held at the old family place near Rome, Ind. A deputy state fire marshal investigated the origin of fire which occurred in Cannelton July The Wyandotte Cave hotel was destroyed by fire Mayor Thomas Truempy, Fred Irvin. Lovell Taylor and Dr. J. Taylor are home five weeks tour of weststates. They traveled .000 miles visited every state west of the Mississippi river except Arkansas and Dakota August Poehlein North Deer Creek is driving new car. THE ROCKPORT DEMOCRAT The county Spencer will not Beek loan from the government contemplated Hugh Schaefer, 17. died from stroke of paralysis which came on while was swimming St. Rupert's pienic will be held September 10 item from M. says camp began Tuesday and will continue to Friends helped Henry the 30th Johnson celebrate his 64th birthday Chrisney Huff township farmat ers' annual picnic be held August 12 at Evanston The Lamar home club met with Mrs. WalRockport strawlace board factory under new management. THE HUNTINGBU RG SIGNAL The Dubois county fair association 15 making for the rodeo be at the August 2, and daughter was born and Mrs Norman Pfaff The Cass township home economics club met with Mrs. Ira Blesch, Holland A daughter was born to Mr. and Mrs. Arthur Hem(mer of Holland Andy Kefner. Portersville, was injured when he atto stop runaway team The Patoka township home economics club met with Mrs. James Perry A daughter was born to Mr. and Mrs Paul THE WINSLOW DISPATCH Paul and Pauline the names of twins born to Mr. and Mrs. Rudolph Caldemeyer in township The Erwin family reunion will be held at Log Creek, August 13 Winslow will have two town tickets in the field at the November election During heavy wind and rain storm of sparrows were blown from at the home of George Poehlein When Butler got up the next morning he noticed the yard full of cats The felines had real feast big barn the John R. Butler farm, Spurgeon, was destroyed by THE BOONVILLE STANDARD The Boonville was cleaned by local reforestation group Next Sunday at Mesker park Evansville, the 24th district of Indiana of the O. O. comprising counties of Warrick. Vanderburgh and Posey together with Rebekahs from the three counties will an outing The township farm bu. reau pienic is scheduled for August 12 at Holtz's grove Until his cent illness Lenpha A. Folsom was one of the 100 per cent attendance members of the Boonville Kiwanis club and for his faithful attendance he was made an honorary member of the club. THE NTINGBURG INDEPENDENT Eleven 250-candlepower lights have been installed in the city park daughter was born to Mr. and Mrs. Robert of Ireland The home of Charley Newton at Birdseye was destroyed by fire Work on the improved road which passes through Zoar is progressing nicely The annual heimer family reunion will be held August 27, at the Huntingburg fairgrounds The Huntingburg band and the American joint social in the city park last night THE ROCKPORT JOURNAL kiddies Rockport were guests of the Evansville Kiwanis club at the annual pienic in Mesker park for crippled and under privileged children of the district The Midway home economics club met with Mrs. Helen Miller The 65th birthof John Sampson, Midway, was observed "The Ten Virgins, pantomime pageant in five scenes sponsored by the foreign missionary society of Hatfield was well attended Alonzo Marsh suffered severed artery and other cuts when lightning struck his home and broke mirror scattering glass all over the room The lightning came in on a radio aerial. WHITE RIVER NEWS Relatives and friends gathered at the home of Mrs. Sue Cunningham helped her celebrate her 85th birthday the eighth birthda of her Melba Jean Watkins The Gibson county Jef. ferson club held its monthly meeting in the Hazleton community hall. The chief address was delivered by Prosecutor Clarence Rumor THE OWENSVILLE STAR There is of Owensville people having deposits in the defunct First State bank getting some of their money through government aid A local committee is investigating Local wheat meetings will be held to control production the Jaquess family was held in Fiener's park There was an cream social Old Union Bank Receiver Knowles gives notice that the bank will be opened for business only three days week OAKLAND CITY JOURNAL met with The Mrs. Ed Ashby son was born to Mr. and Mrs. Hume Brothers Francisco entertaining large crowds at the free shows given once each week The United Brethren church will have homecoming and basket dinner. former pastor the Rev Paul E. Ferguson. of Ohio will be present Twins, and girl, were born to Mr. and Mrs. Elmer Seltzer of Mackey THE OTWELL STAR The 20th annual Creek Picnic the usual big crowd Gale Evans, young violinist. was the guest artist at the Sunday school service in the First Methodist church Bridgeport, Ill. Meyer Brothers of the St. John threshed 999 bushels of good wheat in one and half days The Boone township home club met with Mrs George Godwin and celebrated her birthday and that of Mrs. Clarence Mann's. THE POSEYVILLE NEWS The News prints an interesting letter from Miss Adis Robbins, a former