2756. Clermont State Bank (Clermont, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1931*
Location
Clermont, Iowa (43.004, -91.652)

Metadata

Model
gpt-5-mini
Short Digest
e6734f2a28986ae4

Response Measures

None

Description

Articles report Clermont State Bank had closed (about two years before Feb 3, 1933), was in receivership, and receivers paid depositors in full and were closing the receivership. No article describes a depositor run triggering the closure; therefore this is a suspension that resulted in permanent closure/receivership.

Events (3)
1. February 1, 1931* Suspension
Cause Details
Article only states the bank's doors were closed about two years prior to Feb 3, 1933; no cause (run or government action) is specified.
Newspaper Excerpt
whose doors were closed some two years ago.
Source
newspapers
2. February 3, 1933 Receivership
Newspaper Excerpt
THE CLERMONT STATE BANK PAYS DEPOSITORS FULL ... The receivership la ready to be closed. All depositors have been paid full, and the stockholders, who were assessed 100 per cent, will get back a portion if not all of the assessment. G. E. Everett of the state banking department was in charge of the bank as receiver ... trustees were elected ... L. O. Buescher ... is to have charge of disposing of the remaining assets of the bank. (Oelwein Daily Register, 1933-02-03).
Source
newspapers
3. April 5, 1933 Receivership
Newspaper Excerpt
Final dividends were paid at the Clermont State bank ... (Iowa bank receivers pay out $1,648,962) (The Daily Nonpareil, 1933-04-05).
Source
newspapers

Newspaper Articles (2)
1. February 3, 1933 The Oelwein Daily Register Oelwein, IA
Article from The Oelwein Daily Register, February 3, 1933

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Article Text

THE CLERMONT STATE BANK PAYS DEPOSITORS FULL Something that. very few closed Iowa banks have accomplished reported from the State Bank of Clermont, whose doors were closed some two years ago. The receivership LA ready to be closed All depositors have been paid full, and the stockholders, who were assessed 100 per cent, will get back a portion If not all of the assessment. G. E. Everett of the state banking department was in charge of the bank as receiver and Leon R. Layton of West ion attended to the legal end the work-and both are to be yer) highly complimented on the man ner this property was handled A a meeting of the stockholders Saturday, trustees were elected work with L. O. Buescher of the Citizens State Bank of Postville who is to have charge of dispos ing of the remaining assets of the bank. The trustees are Dan Burke E. 0. Lein and L. H. Aanes. WANT-ADS BRING RESULTS.

2. April 5, 1933 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, April 5, 1933

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Article Text

IOWA BANK RECEIVERS PAY OUT $1,648,962 L. Andrew, state superintendent of banking, announced today that dividends amounting to $1,648,962.98 were paid out by the receivership department to depositors in closed state and savings banks and trust companies during the first three months of 1933. Final dividends were paid at the Clermont State bank, Delaware Savings bank, Oakville State savings bank, Farmers Savings bank of Birmingham, Home Savings bank of Exira. Savings bank of Salem, and the Rise Savings bank of The Greenfield Savings at Greenfield paid 15 per cent, or $27,028.64