2817. First National Bank (Davenport, IA)

View Charter #2695 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
15
Charter Number
2695
Start Date
November 25, 1904
Location
Davenport, Iowa (41.524, -90.578)

Metadata

Model
gpt-5-mini
Short Digest
cd1c8caf17a0e924

Response Measures

None

Description

Article from Nov 25, 1904 reports the First National Bank of Davenport was closed by order of the Comptroller of Currency due to insolvency and a national bank examiner was appointed receiver. No run is mentioned; failure attributed to excessive loans to mining interests. A 1934 article references a receiver's legal action related to the failed bank.

Events (5)
1. June 24, 1863 Chartered
Source
historical_nic
2. May 17, 1882 Chartered
Source
historical_nic
3. November 25, 1904 Receivership
Newspaper Excerpt
National Bank Examiner Eugene T. Wilson has been appointed receiver.
Source
newspapers
4. November 25, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency due to losses sustained upon excessive loans, principally to mining interests with which the officers were identified.
Newspaper Excerpt
The First Na. bank of Davenport, Iowa, has been closed by direction of the comptroller of currency because of insolvency...
Source
newspapers
5. April 25, 1931 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. November 26, 1904 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, November 26, 1904

Click image to open full size in new tab

Article Text

Iowa Bank Closes Its Doors. Washington, Nov. 25.-The First Na. bank of Davenport, Iowa, has been closed by direction of the comptroller of currency because of insolvency, and National Bank Examiner Eugene T. Wilson has been appointed receiver. The failure of this bank, according to a statement issued by the comptroller, is due to losses sustained puon excessive loans, principally to mining interests with which the officers of the bank are identified.

2. February 6, 1934 Iowa City Press-Citizen Iowa City, IA
Article from Iowa City Press-Citizen, February 6, 1934

Click image to open full size in new tab

Article Text

Action Started by Bank Receiver Goes To Federal Hon. James P. Gaffney Monday ordered the removal of the action Lindenmayer, receiver of the First National bank, against the American Surety Co. of New York. from district court to federal court Davenport. The order made upon the petition for transfer filed by the surety com pany. through Attys. Carr. Cox. Evans. and Riley of Des Moines. The bank receiver asked judg against the surety company the sum of on the bond of McChesney. former president of the bank. The action was the ault of federal court decision lowing the claim Pearl M. Chap man against the bank receiver.