State Bank (Idaville, IN)

Episode Information

Episode UID
71078971585
Episode Type
Suspension ā†’ Closure
Bank Type
state
Bank ID
7107897 routing
Routing Number
71-0789
Start Date
January 8, 1932
Location
Idaville, Indiana (40.757, -86.649)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
efb02081c33326a1

Response Measures

None

Description

Bank was closed by its board for liquidation and a receiver/special representative was later appointed; liquidation actions continue through 1935.

Events (6)
1. January 8, 1932 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors closed the bank for liquidation citing a steady falling off of deposits and gradual shrinkage of business.
Newspaper Excerpt
The State Bank of Idaville at Idaville close its doors shortly before noon last Friday ... a sign was posted on the door ... stating that the bank was closed for liquidation.
Source
newspapers
2. January 12, 1932 Receivership
Newspaper Excerpt
a petition was filed in White circuit court by the State of Indiana ... asking that a receivership be appointed.
Source
newspapers
3. January 27, 1932 Other
Newspaper Excerpt
A hearing on the petition for the appointment of a receiver for the State Bank of Idaville which recently closed, was held before Judge Ralph McClurg in circuit court this morning.
Source
newspapers
4. March 8, 1934 Other
Newspaper Excerpt
In the matter of the liquidation of the State Bank of Idavilleā€”George Kistler special representative, ordered to pay state department $33.65 for expenses incurred.
Source
newspapers
5. October 11, 1934 Other
Newspaper Excerpt
In the matter of the liquidation of the State Bank of Idavilleā€”Court orders special representative to pay ... and accept settlements and make dispositions.
Source
newspapers
6. April 17, 1935 Other
Newspaper Excerpt
In matter of liquidation of State Bank of Idavilleā€”Proof filed of posting of notice of sale of certain real estate; sale of real estate reported and deed ordered delivered to purchaser.
Source
newspapers

Newspaper Articles (9)
1. January 14, 1932 The Burnettsville News Burnettsville, IN

Article Text

Idaville State Bank Closed Last Friday Sworn Published Statement Shows Resourses Ample To Protect Depositors The State Bank of Idaville at Ida ville close its doors shortly before noon last Friday, giving as a reason for the action the slowing down of deposits, A sign was posted on the door after the dinner hour signed by the board of directors stating that the bank was closed for liquidation. While there was no run on the bank there had been a steady falling off in business for several months. Wilbur Timmons, trustee of Jackson township, was president of the of the bank succeeding Milton Timmons who retired from that position over a year ago on account of failing health following an attack of the flu. He spent last winter at Phoenix, Arizona, and was benefitted by his stav in that mild climate. He returned there last fall. Preston Carson was cashier and Miss Louella Wright assistant. The State Bank of Idaville was or. ganized in 1898 and for years has been the only bank in the town. At one time there were two banks there. According to the last bank state. ment published in answer to the call of the state banking officials as to the condition of the banks of the state on December 31, the bank had $109.169 30 deposits, with outstand. ing loans of $122,503 71, U. S. Government securities amounting to $700 00 and $12 522.65 cash on hand with real estate valued at $11,124.00 The bank was capitalized at $25,000. The closing of the bank is a severe blow to the business of the town and to the community surrounded it J.W. Parrett, a representative of the state banking department, assisted by F E Weigle, both of Indianapolis are making an audit of the books of the bank. They expect to finish their work todav. Mr. Barr, deputy examiner, was in Idaville Monday in conference with the officers of the bank and the audi tors.

2. January 14, 1932 The Monticello Herald Monticello, IN

Article Text

STATE BANK OF IDAVILLE CLOSES Falling off of Business Given as Cause

3. January 14, 1932 The Monticello Herald Monticello, IN

Article Text

Was President of Bankā€”Bank Capitalized at $25,000ā€”State Authorities to Take Charge The doors of the State Bank of Idaville were closed at noon last Friday by the board of directors of that bank for liquidation. A slow but steady falling off of deposits was given as the cause of the closing. State banking officials were notified and arrived Saturday to take charge of the affairs of the defunct bank. Officials state that there was no concentrated run on the bank but a gradual shrinkage of deposits, resulting from the deflation of business and lack of confidence. Wilbur Timmons has been president of the bank for the past year assuming that position upon the resignation of his brother, Milton Timmons, because of ill health. Preston Carson was cashier. The bank was organized in 1898 and the last bank statement on December 31, 1931 showed deposits of $109,269.30. The bank had loans of $122,503.71, U. S. Government securities, $700, real estate, $11,124 and cash on hands $12,522.65. The bank was capitalized at $25,000.00. Tuesday a petition was filed in White circuit court by the State of Indiana in relation to Luther B. Symons, state banking commissioner, against the Idaville State Bank asking that a receivership be appointed. J. W. Parrett, a representative of the state banking department, assisted by E. E. Weigle, both of Indianapolis, have been in Idaville the past few days making an audit of the books.

4. January 27, 1932 The Monticello Journal Monticello, IN

Article Text

CONTINUE THE HEARING FOR BANK RECEIVER A hearing on the petition for the appointment of a receiver for the State Bank of Idaville which recently closed, was held before Judge Ralph McClurg in circuit court this morning. The petition for the receiver was filed shortly after,the closing by the state banking department. A petition for the appointment of liquidating agent was filed, signed by all the directors of the bank, resident shareholders, and 90% of the depositors representing 90% of the deposits. The hearing for the appointment of a receiver was continued until the state banking department acts on the petition for the liquidating agent. Attorneys Carr, Wason and Love appeared for the bank and Attorney Merle Wall for the state banking deFinal action is expected within few days.

5. March 8, 1934 The Monticello Herald Monticello, IN

Article Text

Civil Ross E. Nolan vs Charles Scottā€”Complaint filed in duplicate. Frank Nolan vs Charles Scottā€”Complaint filed in duplicate. Laura Mildred Thomas vs Clarence Walter Thomas ā€” Complaint filed in duplicate. Hearing held on the application for restraining order, and court finds for the plaintiff that the defendant should be restrained from selling or disposing of certain personal property. Cause set for hearing on the application for a temporary injunction for March 1st. Mutual Benefit Life Ins. Co. vs Maude Holdridgeā€”Cause is assigned for trial for March 15. Dale W. Carr, adm. vs Mattie Alltopā€”Defendant makes default. In the matter of the liquidation of the Citizens State Bank of Chalmersā€”D. D. McCuaig, special representative files bond in the penal sum of $7000 with American Surety Co. of N. Y., as surety. Inventory filed. State and Savings Bank of Monticello is designated as a depository for funds belonging to this trust. Special agent granted petition for an order authorizing him to pay and deliver to respective claimants of bank first lien trust funds, collection trust funds, and safe keeping accounts. Court allows, pursuant to the order of the Department of Financial Institutions, the sum of $75 per month to D. D. McCuaig for his services, six cents per mile for mileage in the discharge of his duties. Special representative ordered to expend not to exceed the sum of $10 per week for clerical hire. In the matter of the liquidation of the Peoples State Bank of Wolcottā€”Same proceedings. In the matter of the liquidation of the State Bank of Idavilleā€”George Kistler special representative, ordered to pay state department $33.65 for expenses incurred. Rensselaer Building, Loan and Savings Assn. vs Martha F. Norris et alā€”Final report and vouchers filed. Final report approved. Clerk is ordered to pay to plaintiff $40.97 in his hands for distribution. Receiver is discharged and trust closed. In the matter of Orland Elstonā€”Child ordered sent to Riley hospital at Indianapolis for treatment. Edward Elston, Monon, appointed to accompany the child. State vs Joshua M. Bechdolā€”Jenkines and Jenkines enter appearance for the defendant. Defendant files motion to quash the affidavit, which motion is overruled by the court, and to which ruling the defendant excepts. Defendant enters plea of not guilty of issuing a fraudulent check. State vs Farmers State Bankā€”Receivers file petition for an order authorizing them to institute suit to quiet title to certain described real estate belonging to this trust, which petition is granted. Lafayette Joint Stock Land Bank vs Francis Tyrrell et alā€”Defendant files answer to the complaint in general denial. Wm. F. Brucker and Wm. N. Loughry, receivers, vs White Co. Board of Finance et alā€”Complaint filed in duplicate, and upon plaintiff's motion summons is ordered to issue to sheriff of White county for all defendants returnable March 3. Dale W. Carr, adm. vs Mattie Alltopā€”The court finds for the plaintiff that the estate of John P. Carr is the owner in fee simple of the real estate that the plaintiff is entitled to have his title to the real estate quieted. In the matter of the liquidation of the State Bank of Idavilleā€”The allowance of $35 per month of Thomas J. Hanna as attorney for the special agent, as fixed by the Department of Financial Institutions, is confirmed by the court, and special agent is ordered to pay amount as a part of the expenses of this trust.

6. October 11, 1934 The Monticello Herald Monticello, IN

Article Text

complaint in general denial. Ross E. Nolan vs Charles Scottā€”This cause is assigned for trial October 25. In the matter of the petition of Minnie Keller for preferred claimā€”This cause is assigned for trial October 25. In the matter of the petition of Farmers Co-operative Company for preferred claimā€”This cause is set for trial October 25. In the matter of the petition of Charles Weissā€”This cause is assigned for trial October 25. In the matter of the petition of George Weissā€”This cause is assigned for trial October 25. In the matter of the petition of Walter E. Bakerā€”This cause is assigned for trial October 25. Boyd Shafer and Edward R. Dye, partners doing business under the style and firm name of Shafer and Company vs Otis Crainā€”Plaintiffs file complaint in duplicate. On plaintiff's motion summons is issued for the defendant, returnable October 15. On plaintiff's motion the clerk is ordered to issue an order for the seizure of the property described in said complaint and for the delivery to the plaintiffs. Ada McGowan vs Noah Johnsonā€”Plaintiff files complaint in duplicate. On plaintiff's motion summons is issued for the defendant, returnable October 15. State of Indiana ex rel Luther F. Symons, Bank Commissioner of the State of Indiana vs the State Bank of Mononā€”Receiver is ordered to release a judgment heretofore obtained by the State Bank of Monon, against the White County Loan Trust and Savings Company, as executor of the estate of Martha E. Bunnell, deceased. State of Indiana ex rel Luther F. Symons, Bank Commissioner of the State of Indiana vs the State Bank of Wolcottā€”Receiver is ordered to accept the sum of $900 in Federal Land Bank Bonds and the sum of $72.89 in cash in compromise and settlement of three notes, which include a promissory note executed by F. S. Chenoweth for $650, promissory note executed by Helen Van Voorst and F. S. Chenoweth for $15.00, and a promissory note executed by Paul G. Chenoweth and F. S. Chenoweth for $270. Hall-Hottel Inc. vs Sarah E. Miller et alā€”Defendant Mary E. McGuffs files affidavit for a change of venue. Paul E. Tambaugh enters his appearance for the plaintiff. In the matter of the liquidation of the State Bank of Idaville, Idaville, Indianaā€”Court orders special representative to pay to A. A. Wallace the sum of $17.50 for the apprehension of Carl Middlestadt. Special representative is ordered to accept $1306 in settlement of a judgment obtained against Elmer G. Reiff in the Carroll Circuit Court, for the sum of $2002.75. In the matter of the liquidation of the Farmers and Traders State Bank of Mononā€”Court orders the special representative to accept the sum of $75.00 in settlement of a $330 note and chattel mortgage issued by William F. Koebcke. He is also ordered to pay to A. A. Wallace the sum of $40 for the apprehension of Carl Middlestadt. David L. Halstead vs Anna M. Carmichaelā€”This cause is assigned for trial October 20. Newton County Loan and Savings Association of Indiana vs Fred W. Graves and Asenath Graves, his wifeā€”Receiver files final report which report is examined and approved by the court and receiver is discharged and trust closed. Lilly Cummings vs George Cummingsā€”Defendant wholly makes default. Plaintiff is granted an absolute divorce and is restored her maiden name of Lilly Shipley. Fowler Bank City Trust Company vs Camillus Lampe et alā€”The defendants are ruled to answer absolute the complaint October 13. The Romney Bank vs Leo DeVault et alā€”The defendants are ruled to answer absolute the complaint October 13. The Connecticut Mutual Life Insurance Company vs Creighton H. Williams et alā€”Parties appear and file written stipulation. Estella O. Delinger vs David A. Dellingerā€”Plaintiff files complaint in duplicate. On plaintiff's motion summons is issued for the defendant, returnable October 19. Plaintiff also files application for suit and support money. Hearing for same is set for October 13. Court finds that the defendant should be restrained from disposing of the personal property.

7. October 11, 1934 The Monticello Herald Monticello, IN

Article Text

since McNutt became Governor. The concern is owned and operated by H. N. Timolat, the Governor's father-in-law, John C. McNutt, the Governor's father, Kathleen McNutt, the Governor's wife, Ann C. Rupley, and Hayden H. Allen, among the Governor's friends. The Governor's father came into the firm when he succeeded the Governor as secretary-treasurer. tion of the inheritance tax which petition is referred to D. H. Friend, Inheritance Tax Appraiser, for report. Administrator files final report and vouchers. Said final report is set for hearing November 15 and notice is ordered. In the matter of the estate of Sarah Ellen Moorhous, deceasedā€”The time for filing the petition for the determination of the inheritance tax is extended to October 2. Administrator files petition for the determination of the inheritance tax which petition is referred to D. H. Friend, inheritance tax appraiser, for report. Administrator files final report and vouchers. Said final report is set for hearing November 19, and notice is ordered. State and Savings Bank as administrator of the estate of Benjamin F. Price, deceased, with the will annexed vs Methodist Episcopal Church of Monticello, Indiana, et alā€”All appearing defendants are ruled to answer absolute the petitions and complaint of the plaintiff on October 9. Defendants Presbyterian Church of Monticello, Indiana, trustees of the Presbyterian Church of Monticello, Indiana, and file answer and consent to the real estate herein. Civil The Aetna Casualty and Surety Company of Hartford, Connecticut, vs Charles W. Bubler et alā€”The defendants are ruled to answer the complaint October 9. Edward J. Russow et al vs Harry L. Miller as trustee of Union Township, White county, Indiana, et alā€”The defendants are ruled to answer the complaint October 9th. Central Loan and Investment Co. vs Melvin E. Snavely et alā€”The defendants are ruled to answer the complaint October 9. Catherine Parker vs William F. Parkerā€”Plaintiff files affidavit of non-residence. On plaintiff's motion non-resident notice is issued for the defendant returnable December 19. Lincoln National Bank and Trust Company of Fort Wayne vs William B. Cole et alā€”Court finds that there is due and owing the plaintiff from the defendants the sum of $550 on promissory note sued, principal and interest, and attorney fees, together with its costs herein expended. White County Loan, Trust and Savings Company of Monticello, Indiana, a corporation vs Lottie B. Copeā€”Plaintiff files complaint in duplicate. On plaintiff's motion summons is issued for the defendant returnable October 15. White County Loan, Trust and Savings Company of Monticello, Indiana, a corporation vs Orson Cope and Lottie B. Copeā€”Plaintiff files complaint in duplicate. On plaintiff's motion summons is issued for the defendant, returnable October 15. State of Indiana vs Curtis L. Espeyā€”The assignment of this trial is continued by the agreement of the parties. Leona Moehring vs Agnes Garvin et alā€”Defendants file answer to the $12.09 in cash in compromise and settlement of three notes, which include a promissory note executed by F. S. Chenoweth for $650, promissory note executed by Helen Van Voorst and F. S. Chenoweth for $15.00, and a promissory note executed by Paul G. Chenoweth and F. S. Chenoweth for $270. Hall-Hottel Inc. vs Sarah E. Miller et alā€”Defendant Mary E. McGuff files affidavit for a change of venue. Paul E. Tambaugh enters his appearance for the plaintiff. In the matter of the liquidation of the State Bank of Idaville, Idaville, Indianaā€”Court orders special representative to pay to A. A. Wallace the sum of $17.50 for the apprehension of Carl Middlestadt. Special representative is ordered to accept $1306 in settlement of a judgment obtained against Elmer G. Reiff in the Carroll Circuit Court, for the sum of $2002.75. In the matter of the liquidation of the Farmers and Traders State Bank of Mononā€”Court orders the special representative to accept the sum of $75.00 in settlement of a $330 note and chattel mortgage issued by William F. Koebcke. He is also ordered to pay to A. A. Wallace the sum of $40 for the apprehension of Carl Middlestadt. David L. Halstead vs Anna M. Carmichaelā€”This cause is assigned for trial October 20. Newton County Loan and Savings Association of Indiana vs Fred W. Graves and Asenath Graves, his wifeā€”Receiver files final report which report is examined and approved by the court and receiver is discharged and trust closed. Lilly Cummings vs George Cummingsā€”Defendant wholly makes default. Plaintiff is granted an absolute divorce and is restored her maiden name of Lilly Shipley. Fowler Bank City Trust Company vs Camillus Lampe et alā€”The defendants are ruled to answer absolute the complaint October 13. The Romney Bank vs Leo DeVault et alā€”The defendants are ruled to answer absolute the complaint October 13. The Connecticut Mutual Life Insurance Company vs Creighton H. Williams et alā€”Parties appear and file written stipulation. Estella O. Delinger vs David A. Dellingerā€”Plaintiff files complaint in duplicate. On plaintiff's motion summons is issued for the defendant, returnable October 19. Plaintiff also files application for suit and support money. Hearing for same is set for October 13. Court finds that the defendant should be restrained from disposing of the personal property.

8. April 17, 1935 The Monticello Journal Monticello, IN

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Fred Dahling, receiver, vs Glen W. Riceā€”On plaintiff's motion cause is dismissed and costs paid. State on the relation of bank commissioner vs State Bank of Idavilleā€”Receiver files inventory and appraisement of the real estate. Finding it would be to the best interest of the trust to sell the real estate. Receiver ordered to make due report of his proceeding. Eva B. Scott vs Income Guaranty Co.ā€”Defendant files answer to the complaint in general denial. Ella Hall vs Geo. H. Guntripā€”On plaintiff's motion cause is dismissed and costs paid. In matter of liquidation of State Bank of Idavilleā€”Proof filed of posting of notice of sale of certain real estate. Richard L. Minor vs Lucien Clergetā€”Court overrules motion heretofore filed by the defendant to make the first and second paragraph of the complaint more specific, to which ruling of the court the defendant excepts. Defendant ruled to answer complaint of the plaintiff April 18. Chas. L. Minor vs Lucien Clergetā€”Court overrules motion of the defendant heretofore filed to strike out parts of the complaint to which ruling of the court the defendant excepts. Defendant ruled to answer the complaint of the plaintiff April 18. Nicholaus Hennes vs Wm. Burnsā€”Complaint filed in duplicate and summons is issued for defendant returnable April 27. Hortense Boone vs Boone Motor

9. April 17, 1935 The Monticello Journal Monticello, IN

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NOTES FROM THE DOCKET OF WHITE CIRCUIT COURT Civil State ex rel bank commissioner vs Farmers State Bankā€”Receivers authorized to pay to Fidelity & Casualty Co. or T. V. Koontz, their agent, the sum of $50 for premium on their bond. Addie Peeler vs City of Lafayetteā€”Cause assigned for trial for May 27. In matter of liquidation of State Bank of Idavilleā€”Special representative files proof of notice of sale of real estate, which is ratified and confirmed by the court. Real estate reported sold to Frank H. Luse and Belle Irelan Luse for $3200. Deed ordered delivered to purchaser. Indemnity Ins. Co. vs Victor N. Sheekā€”On plaintiff's motion cause is dismissed and costs paid.