gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4cc1f5fda137084f
Response Measures
None
Events (3)
1.October 31, 1930Other
Newspaper Excerpt
today paid $140,000, representing ten per cent of each account handled by the insolvent institution. That amount represents the total assets available for distribution at this time, officials said.
Source
newspapers
2.*Receivership
Newspaper Excerpt
Harry E. Folk, receiver for the Peoples Co-Operative State bank, of Hammond, said this morning.
Source
newspapers
3.*Suspension
Cause Details
Articles describe the bank as defunct/closed but give no specific trigger for suspension or failure.
Newspaper Excerpt
the defunct Peoples Co-operative State bank of Hammond
Source
newspapers
Newspaper Articles (11)
1.October 31, 1930Princeton Daily ClarionPrinceton, IN
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Article Text
BANK DEPOSITORS RECEIVE PAYMENT OF ASSETS ON HAND first step toward meeting the full obligations to depositors of the defunct Peoples Co-operative State bank of Hammond, the Peoples State bank. today paid $140,000, represent ing ten per cent of each account han dled by the insolvent institution. That amount represents the total assets available for distribution at this time, officials They added that as other converted into cash, other payments would be made until depositors have been paid in full.
2.January 25, 1932The TimesHammond, IN
Article Text
The $200,000,000 fund authorized for loaning purposes to closed banks as a part of the operation of the two-billion-dollar Reconstruction Finance corporation of the federal government, will do little to liquidate defunct banks, Harry E. Folk, receiver for the Peoples Co-Operative State bank, of Hammond, said this morning.
3.January 25, 1932The TimesHammond, IN
Article Text
Between now and March 15 they must notify 139 stockholders of the defunct People's Co-Operative State bank of Hammond to appear in court and make answer to a suit filed against the latter by the bank's receivers, Harry Folk and O. D. Carpenter.
4.January 8, 1934The TimesHammond, IN
Article Text
With the completion of the First Trust appraisal, the R. F. C. men now will turn their attention to assets of the defunct Peoples Co-Operative State bank of Hammond, of which Mr. Folk also is receiver. He is applying for a loan for that bank, too.
Two of the five appraisers will go
5.January 8, 1934The TimesHammond, IN
Article Text
With the completion of the First Trust appraisal, the R. F. C. men now will turn their attention to assets of the defunct Peoples Co-Operative State bank of Hammond, of which Mr. Folk also is receiver. He is applying for a loan for that bank, too.
Two of the five appraisers will go
6.June 29, 1934The TimesHammond, IN
Article Text
RECEIVER SUES BOND COMPANY
Columbia Casualty company and the Fidelity Deposit company of Maryland, are defendants in an action for $54,000 brought in Hammond Superior court by Harry Folk, receiver of the defunct People's Co-Operative State bank.
Receiver Folk seeks damages for alleged "unfaithful performance and wilful misconduct" of Joseph G. Ibach, president, and Alexander Marko, cashier, in their operation of the bank while bonded by the defendant companies.
Numerous uncollectible loans and negligent bond purchases are cited in the lengthy complaint filed by Attorney D. J. Moran.
7.June 29, 1934The TimesHammond, IN
Article Text
RECEIVER SUES BOND COMPANY
Columbia Casualty company and the Fidelity Deposit company of Maryland, are defendants in an action for $54,000 brought in Hammond Superior court by Harry Folk, receiver of the defunct People's Co-Operative State bank.
Receiver Folk seeks damages for alleged "unfaithful performance and wilful misconduct" of Joseph G. Ibach, president, and Alexander Marko, cashier, in their operation of the bank while bonded by the defendant companies.
Numerous uncollectible loans and negligent bond purchases are cited in the lengthy complaint filed by Attorney D. J. Moran.
8.October 25, 1934The TimesHammond, IN
Article Text
Mr. Folk, in addition to being receiver of the First Trust & Savings bank, is receiver of the Peoples Co-Operative State bank of Hammond, and the Farmers & Merchants Savings bank of Highland. To date, the People Co-Operative State bank has paid 29.5 per cent in dividends to depositors. This amounts to a total dividend payment of $338,222.93.
9.October 25, 1934The TimesHammond, IN
Article Text
Judge Harold L. Strickland, today, approved a petition of Harry E. Folk, requesting permission to pay to 9,000 depositors of the First Trust & Savings bank of Hammond an additional five per cent dividend.
This dividend will amount to a cash disbursement to depositors of $160,000 and is made available from cash acquired through the liquidation of various assets of the bank together with funds borrowed from the Reconstruction Finance corporation. This will make a total of 20 per cent in dividends paid to the depositors of the First Trust & Savings bank.
Of this amount, 15 per cent has been paid since Mr. Folk assumed charge of the affairs of the bank in March, 1933. The 20 per cent in dividends amounts to a total payment of cash of $675,824.95. Mr. Folk was ordered to begin payment of the dividend on Oct. 30.
COLLECT AT CALUMET BANK
Notices will be mailed to depositors, and Mr. Folk requests that upon receipt of the notices, the depositors call for payment of their dividends at the Calumet State bank. The First Trust & Savings bank closed on Feb. 2, 1931.
Mr. Folk, in addition to being receiver of the First Trust & Savings bank, is receiver of the Peoples Co-Operative State bank of Hammond, and the Farmers & Merchants Savings bank of Highland. To date, the People Co-Operative State bank has paid 29.5 per cent in dividends to depositors. This amounts to a total dividend payment of $338,222.93.
10.September 27, 1935The TimesHammond, IN
Article Text
1ST TRUST MAILS OUT NOTICE OF DIVIDEND
Closed Bank Receiver Will Pay Out $150,000 in the Next Two Weeks
Approximately 9,000 depositors of the closed First Trust and Savings bank, of Hammond, will receive a 5 per cent dividend, amounting to $150,000, during the next two weeks, Receiver Harry E. Folk announced today.
At the conclusion of this payment, Folk will start distribution of another 5 per cent dividend, totaling $50,000, among depositors of the defunct Peoples Co-Operative State bank, of Hammond, of which he also is receiver.
11.September 27, 1935The TimesHammond, IN
Article Text
1ST TRUST MAILS OUT NOTICE OF DIVIDEND
Closed Bank Receiver Will Pay Out $150,000 in the Next Two Weeks
Approximately 9,000 depositors of the closed First Trust and Savings bank, of Hammond, will receive a 5 per cent dividend, amounting to $150,000, during the next two weeks, Receiver Harry E. Folk announced today.
At the conclusion of this payment, Folk will start distribution of another 5 per cent dividend, totaling $50,000, among depositors of the defunct Peoples Co-Operative State bank, of Hammond, of which he also is receiver.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
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Peoples Company Operative State Bank · UID 71117771570
