Oolitic State Bank (Oolitic, IN)

Episode Information

Episode UID
862135391574
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
86213539 hash
Start Date
February 10, 1931
Location
Oolitic, Indiana (38.901, -86.525)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1cdfeaf218011b13

Response Measures

None

Description

Bank closed Feb 10, 1931 and was found insolvent; receiver appointed and bank did not reopen.

Events (6)
1. February 10, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent with a disclosed shortage (examiner estimated a depositor shortage between about $10,000 and ...).
Newspaper Excerpt
defunct Oolitic State Bank which closed February 10
Source
newspapers
2. February 18, 1931 Receivership
Newspaper Excerpt
Judge Branaman Announces He Will Appoint Oolitic Bank Receiver Today; hearing on the petition ... the defunct Oolitic State Bank which closed February 10, was held ... Judge John Branaman announced that he would appoint receiver during the day.
Source
newspapers
3. February 26, 1931 Receivership
Newspaper Excerpt
Albert Fields ... appointed receiver for Oolitic State Bank ... Bond is $15,000. Will assume charge at defunct Oolitic institution Monday to push settlement.
Source
newspapers
4. December 15, 1932 Other
Newspaper Excerpt
Depositors Of Defunct Oolitic State Bank Receive Checks From Albert Fields; Announcement made today ... December 15th by Albert Fields, the bank receiver ... the amount of the checks totaled ... on the deposits.
Source
newspapers
5. February 15, 1934 Other
Newspaper Excerpt
petition of Albert Fields ... for the authority and power to apply to the Finance Corporation for loan unpaid notes the bank ... the receiver would pledge unpaid notes and real estate of the bank for the loan.
Source
newspapers
6. March 21, 1935 Other
Newspaper Excerpt
Albert J. Fields, receiver of the Oolitic State Bank, calls meeting ... to discuss disposition of K. of P. lodge bonds ... quite a number of which are held by the receiver of the bank.
Source
newspapers

Newspaper Articles (6)
1. February 18, 1931 The Times-Mail Bedford, IN

Article Text

RECEIVERSHIP PETITION HEARD Judge Branaman Announces He Will Appoint Oolitic Bank Receiver Today The hearing on the petition filed February the Lawrence CounCircuit Court the State for receivfor the defunct Oolitic State Bank which closed February 10, was held 10 o'clock this ning its conclusion Judge John Branaman announced that he would appoint receiver during the day. o'clock this afternoon he not made the Lather Symons, state banking with his testified the hearthat present unable definitely determine the the bank shortage. He added that after approximately onefourth the passbooks held dehad examined there positors shortage of between $10,000 and disclosed in this partment. Implication that these deposits were listed on the passbooks never credited the bank ledger. Symons' testimony revealed that the bank is insolvent and was on the date closed.

2. February 26, 1931 The Times-Mail Bedford, IN

Article Text

FIELDS RECEIVER APPOINTMENT ANNOUNCED BY JUDGE JOHN BRANAMAN THIS MORNING BOND, IS $15,000 Will Assume Charge At Defunct Oolitic Institution MondayTo Push Settlement Albert Fields, Bedford attornmorning appointed ceiver for Oolitic State Bank, Judge John selection Lawnouncing Circuit Court after rence County deliberation since February 18th, which date he the petition for receivership the State Banking Commisby February 12th. Bond sioner fixed $15,000. Mr. Fields, on being advised of said that he would his bond later in the week and take active charge of plans bank affairs Monday, March He added that planned push settlement activities the bank rapidly best inas terests of permit idea of the time no will required in bringing labors to close. Examiner Symons, son of Luther Symons, state banking who at present in charge of bank, continuing his investiexpected that will gations. complete his labors the last this Judge Branaman found the task difficult and this fact is sponsible for the delay announcing his Fields made plain morning, after of his that he not an applicant for receivership only accepted the appointment had been brought to bear upon affiliated with the affairs of the bank.

3. February 27, 1931 The Indianapolis Star Indianapolis, IN

Article Text

BEDFORD LAWYER NAMED OOLITIC BANK RECEIVER BEDFORD, Ind., Feb. Fields, Bedford attorney, this was appointed receiver the defunct Oolitic State bank. Judge John C. Branaman announced his lection in Lawrence Circuit court after deliberation since Feb. 18, which date he the petition for filed by the Bond was fixed at $15,000

4. December 17, 1932 The Times-Mail Bedford, IN

Article Text

BANK RECEIVER MAKES PAYMENT Depositors Of Defunct Oolitic State Bank Receive Checks From Albert Fields Announcement made today positors Bank December 15th by Albert Fields, the The amount of the checks totalten the deposits. on the about the hope of the bank receiver to later make another payment.

5. February 15, 1934 The Times-Mail Bedford, IN

Article Text

RELEASED ON BOND John McRae, Bedford, was leased from custody under $50 bond this foremoon to await before Mayor Murray City Court on charge tion. He was arrested this ing at 4:25 o'clock by Night Patrolmen Charles Hartman and Charles Crawford. CIRCUIT COURT Judge John C. Branaman rule favorably on the petition of Albert Fields, Bedford and for the defunct Oolitic State Bank, for the authority and power to apply to the Finance Corporation for loan unpaid notes the bank. According the bank petition, the receiver would pledge unpaid notes and real estate of the bank for the loan, which would be large enough take care of the unpaid notes. The case of John William Coopwho seeking divorce from his wife, Lillian Kendall Cooper, was sent the Orange county circuit court Wednesday upon change venue from the county, filed the plaintiff's attorney, Robert Mellen. Judge Branaman after hearing evidence case of Herschel Brock, who appeared in court ednesday in answer citation, ordered him committed the Lawrence county jail until total of $150 paid the county court clerk for the benefit of his former wife, Mrs. Irene Brock. It alleged that he failed comply with court order pay money for the support of his son, Herschel. The order for his being held up by the court pending the outcome the efforts of Brock to raise the money. A divorce was granted this foreby Judge to Clyde Lamb from his wife, Loma Lamb. The plaintiff was given and custody of the two the care minor children, Clyde, Jr., 9, Charles,

6. March 20, 1935 The Times-Mail Bedford, IN

Article Text

OOLITIC STATE BANK RECEIVER Calls Meeting For Thursday Night To Discuss Disposition Of K. Of P. Lodge Bonds It has been announced by Albert J. Fields, receiver of the Oolitic State Bank, that an important meeting will be held at the Town Hall in Oolitic Thursday night, March 21, at 7:30 o'clock. Members of the Town Board of the Town of Oolitic, and officers and members in good standing of the K. of P. lodge have been invited to meet the receiver to discuss the matter of building bonds heretofore issued by the lodge, quite a number of which are held by the receiver of the bank. Mr. Fields stated that he was quite anxious to have members of the Town Board and members of the lodge present with the hope that a plan might be worked out for the payment of the bonds which would be mutually beneficial to all parties concerned.