Jackson Township Bank (Pershing, IN)

Episode Information

Episode UID
71109571585
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7110957 routing
Routing Number
71-1095
Start Date
January 4, 1932
Location
Pershing, Indiana (41.096, -86.319)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4e6bc6570486b07a

Response Measures

None

Description

Receiver purchased outstanding stock and paid depositors in full—unusually favorable liquidation.

Events (3)
1. January 4, 1932 Receivership
Newspaper Excerpt
Robert E. L. Hartman, receiver, has long since satisfied all of their claims dollar for dollar, it was revealed today.
Source
newspapers
2. January 4, 1932 Suspension
Cause
Government Action
Cause Details
Closed for liquidation with a receiver (Robert E. L. Hartman) appointed to wind up affairs.
Newspaper Excerpt
When the Jackson Township Bank of Pershing was closed on Jan. 4, 1932, for liquidation
Source
newspapers
3. April 28, 1934 Other
Newspaper Excerpt
In his final report as receiver, filed in Wayne circuit court today, it was disclosed that all depositors had been paid in full and stockholders realized dollar for dollar on their investment.
Source
newspapers

Newspaper Articles (2)
1. April 28, 1934 Palladium-Item Richmond, IN

Article Text

Depositors Paid Dollar for Dollar by Bank Receiver When the Jackson Township Bank of Pershing was closed on Jan. 4, 1932, for liquidation, depositors and stockholders assumed that they would have to stand a loss, but Robert E. L. Hartman, receiver, has long since satisfied all of their claims dollar for dollar, it was revealed today. In his final report as receiver, filed in Wayne circuit court today, it was disclosed that all depositors had been paid in full and stockholders realized dollar for dollar on their investment. In the process of liquidation Mr. Hartman purchased all of the outstanding stock himself, paying par for it, and then paid off the claims of the depositors.

2. April 28, 1934 Palladium-Item Richmond, IN

Article Text

When the Jackson Township Bank of Pershing was closed on Jan. 4, 1932, for liquidation, depositors and stockholders assumed that they would have to stand a loss, but Robert E. L. Hartman, receiver, has long since satisfied all of their claims dollar for dollar, it was revealed today. In his final report as receiver, filed in Wayne circuit court today, it was disclosed that all depositors had been paid in full and stockholders realized dollar for dollar on their investment. In the process of liquidation Mr. Hartman purchased all of the outstanding stock himself, paying par for it, and then paid off the claims of the depositors. The receiver paid the 1934 taxes before closing up the affairs of the institution, the report revealed. The case is said to be unusual in banking circles.