2762. Farmers State Bank (Clutier, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 2, 1927
Location
Clutier, Iowa (42.079, -92.402)

Metadata

Model
gpt-5-mini
Short Digest
dc1997934d9351ff

Response Measures

None

Description

Articles from 1927–1928 describe the Farmers State Bank of Clutier as closed and in receivership, with dividends being distributed by the state superintendent and the receiver suing the former cashier for alleged false credits and losses. There is no mention of a depositor run; the failure appears driven by bank-specific mismanagement/forged or false credits and losses. Therefore this is a suspension leading to permanent closure (receiver). OCR errors in Article 1 corrected (e.g., 'Clutier. Ia., Dec. dividend' interpreted as Dec. 1927 reporting of dividend).

Events (3)
1. December 2, 1927 Receivership
Newspaper Excerpt
Mr. Spalla, receiver in charge...the institution will continue in receivership...distribution of assets intended for reorganized institution is begun; closed Farmers State bank of Clutier and L. A. Andrew, state superintendent of banking, as receiver, ...compromise settlement ... Foley farms ownership dispute and receiver suits against former cashier M. A. Caslavka for alleged irregularities and losses in 1927 and earlier days were begun by the receiver. (Articles dated 1927-12-02 and 1928-10-12).
Source
newspapers
2. December 2, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed in receivership following losses, false credits and irregularities in management discovered by receiver; suits allege forged notes and improper credits.
Newspaper Excerpt
closed Farmers State bank Clutier has been ordered by the state department...the institution will continue in receivership
Source
newspapers
3. October 12, 1928 Other
Newspaper Excerpt
The receiver of the closed Farmers State bank of Clutier has begun three suits against M. A. Caslavka, cashier, demanding judgments for alleged irregularities in the management of the bank in which the institution suffered loss ... criminal charges ... dismissed on account of lack of evidence. (Article dated 1928-10-12).
Source
newspapers

Newspaper Articles (4)
1. December 2, 1927 The Courier Waterloo, IA
Article from The Courier, December 2, 1927

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Article Text

REGARDED AS BAR BANK Distribution of Assets, Intended for Reorganized Institution, Is Begun. (Courier Special Service) Clutier. Ia., Dec. dividend of 35 per cent by the closed Farmers State bank Clutier has been ordered by the state department. New Bank Barred? While no statement made from the state department banking regard to its decision as to the granting of charter for the posed new People's State bank. which was to taken over the paper of closed bank. the dividend indicates that the institution will continue in receivership for The total to be distributed The net deposits the bank are after offsets were made against notes and safety deposit box rentais. The total thus deducted from the posits as offsets before the dividend was computed was $12,212.13 Majority to Clutier People. There 464 depositors will share in the distribution. Mr. Spalla, receiver charge. estimates that $60,000 of the dividend will go into the hands of people living in Cluand vicinity Tama which had in public deposit in Clutier bank. will ceiver and about $12,000 goes depositors living at disSeveral Clutier men interested in the reorganization of Farmers State bank made final appeal to state banking department Des Moines last asking that the charter for the new bank be granted The Clutier men returned without much encouragement, altho promise was that the matter would be further Talk Cash Organization. There attempt at Clutier to organize new bank with capital stock and surplus subscriptions payable cash, entirely vorced the closed Many think however, that the will not be over, and that tier will remain one bank town for many years.

2. July 20, 1928 The Gazette Cedar Rapids, IA
Article from The Gazette, July 20, 1928

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Article Text

WEAF-New Marionettes. and Jane. Lewisohn Stadium Concert. Gondoliers. WJZ-New program. and Mack. Slumber Music. System (3½ hrs). Jubilee Singers. WOR-Newark. and music. 9:00-Denver Municipal band. TRAER-The district court of Tama county has placed its stamp of approval on a compromise settlement agreed on by the directors of the closed Farmers State bank of Clutier and L. A. Andrew, state superintendent of banking, as receiver, in regard to the long disputed question of ownership of certain real estate known as the Foley farms. The directors claimed that the farms were the property of the bank The receiver took the position that they were the property of the directors. DYSART-As a result of a slight scratch on his foot which developed into lockjaw, Alfred Witt, the 6year-old son of Mr. and Mrs. Henry Witt, residing southeast of here. died Wednesday Funeral services were held today at the home and at the Turner hall at Keystone in charge of the Rev. Paul Kitterer of the Evangelical Peace church of Dysart. Burial was made in the Keystone cemetery.

3. October 12, 1928 The Courier Waterloo, IA
Article from The Courier, October 12, 1928

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Article Text

False Credits Allowed in Two Cases, Claim: Forged Notes Alleged Other Count. Traer, receiver Farmers State bank Clutier begun against judgments irregularities in management the bank which the suffered Allege False Credits Given. In one which $3,500 two charges are made first, that Caslavka credits on the books bank Charles Maltz, buyer, resident withdraw $1,800 which Maltz being insolvent, the petition; that he Clutier produce buyer, false credit the amount $2,500. only which has returned to the alleged that the accounts the the bank juggled distorted deceive the rectors, would not have permitted such loans they known would Maltz and Kopecky allowed check out the amounts falsely placed to their cred- Second Action for $2,725. personal judgment of demanded second suit against this leged cashier placed in the files bank two instruments purporting be promissory notes in favor the but which falsely charged that the received used by the defendant They purported to have signed by living The two notes total $2,725 third suit has also been filed against the cashier the receiver asking judgment $3.on to given the bank by Caslavka himself on February 1927 Dismissed Criminal Charges. In the May district court criminal charges fraudulent banking forgery against Caslavka dismissed account of lack evidence. Husak, his assistant, been previously acquitted the charge of making false entries on books the receiver of the closed bank was given judgment several months ago for against Casrepresenting the unpaid 100 per assessment on his shares stock.

4. October 12, 1928 The Gazette Cedar Rapids, IA
Article from The Gazette, October 12, 1928

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Article Text

Clutier Bank Receiver Sues Former Cashier Special to The TRAER, Oct. 12.-The receiver of the closed Farmers State bank of Clutier has begun three suits against M. A. Caslavka, cashier, demanding judgments for alleged irregularities in the management of the bank in which the institution suffered loss In one action, in which $3,500 is asked, two charges are made: first, that Caslavka gave false credits on the books of the bank to Charles Maltz. horse buyer. said to be resident of Chicago, allowing him to withdraw $1,800, which was lost. Maltz being insolvent, according to the petition: second, that he gave J. Kopecky, Clutier produce buycredit to the amount of $2.500, only $1,500 of which has been returned to the bank. personal judgment of $2,725 is demanded in second suit, and in third suit, the receiver asks a judgment for $3,125, on note claimed to have been given the bank by Caslavka himself on February 1, 1927. In the May term of district court criminal charges of fraudulent banking and forgery against Caslavka were dismissed on account of lack of evidence.