First National Bank - Hubbard, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8970
Charter Number: 8970
Start Date: March 1, 1933*
Location: Hubbard, Iowa (42.306, -93.300)

Metadata

Model: gpt-5-mini
Short Digest: bbbd7df775dfb0dc

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-10-30
Date receivership terminated: 1937-05-21
Share of assets assessed as good: 55.1%
Share of assets assessed as doubtful: 44.5%
Share of assets assessed as worthless: 0.5%

Description

OCR errors in the article corrected (e.g., 'comptroller of the currency' and dates). The article states the bank was placed in the hands of a conservator at the March 1933 banking holiday and on or about Nov 1, 1933 a receiver (Dan Whitney) was appointed by the Comptroller — indicating the bank did not reopen and was placed in receivership. No bank run is described.

Events (4)

1. December 20, 1907 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Placed in the hands of a conservator following the March 1933 banking holiday (banking suspension/holiday).
Newspaper Excerpt: The bank at Hubbard has been in the hands of conservator since the banking holiday last March.
Source: newspapers

3. October 30, 1933 Receivership

Source: historical_nic

4. November 1, 1933 Receivership

Newspaper Excerpt: Dan Whitney received telegram the comptroller of the currency ... advising of his appointment as receiver of National Bank of Hubbard ... The bank at Hubbard has been in the hands of conservator since the banking holiday last March. (The Independent, 1933-11-02).
Source: newspapers

Newspaper Articles (1)

1. November 2, 1933 The Independent Hawarden, IA

Article from The Independent, November 2, 1933

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Article Text

BANK RECEIVER Whitney Placed in Charge of Closed Bank Hubbard, Iowa Dan Whitney received telegram the comptroller of the currency o'clock Monday night advising of his appointment as receiver of National Bank of Hubbard, and shortly after midnight by auto for that in place order over the affairs of the instituTuesday morning. The bank at Hubbard has been in the hands of conservator since the banking holiday last March. Appointment of receivers for national banks which little promise of successful reorganization seems to be the order of the day in the national field and anticipated that merous banks now operating under conservators will into pass in the next few weeks. The bank Hubbard fairly sizeable institution. According to latest the bank directory, containing figures for 1932, it had capital of surplus deposits of about and borrowed of money 000. Listed in its assets were loans slightly in excess of bonds totaling about $85,000, and cash amounting to about Mr. Whitney has been connected with the First National Bank of warden for the fourteen past years, three or four years as assistant cashand for the past ten years cashier. After the bank here placed in the hands of conservator last March he continued as an ployee until few weeks ago. thus thoroughly qualified by training and experience to handle the affairs receivership in highly efficient and competent manner. His Hawarmany den friends will at his rejoice appointment. Mr. Whitney is democrat with capital Of course, politics presumed to play part in the naming of bank receivers but not ered likely that Mr. Whitney's politiaffiliations proved any handicap securing the appointment.