First National Bank - Le Mars, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2728
Charter Number: 2728
Start Date: December 7, 1896
Location: Le Mars, Iowa (42.794, -96.166)

Metadata

Model: gpt-5-mini
Short Digest: be42758a3a58a86e

Response Measures

None

Receivership Details

Date receivership started: 1933-10-31
Date receivership terminated: 1934-08-27
Share of assets assessed as good: 100.0%

Description

Short notice in a syndicated piece: Confidence (panic) caused several failures and the First National Bank of LeMars took the same route on the preceding Monday (implying it closed). No explicit report of a depositor run; closure appears permanent in context of failures listed.

Events (5)

1. June 10, 1882 Chartered

Source: historical_nic

2. December 7, 1896 Suspension

Cause: Macro News
Cause Details: General loss of confidence/panic ('Confidence' caused several banks to close); bank closed the same day as other failures mentioned in the syndication.
Newspaper Excerpt: and the First National Bank of LeMars took the same route. This was Monday this week.
Source: newspapers

3. October 31, 1933 Receivership

Source: historical_nic

4. August 27, 1934 Restored To Solvency

Source: historical_nic

5. September 27, 1934 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. December 8, 1896 Twice-A-Week Plain Dealer Cresco, IA

Article from Twice-A-Week Plain Dealer, December 8, 1896

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Article Text

A Carload of Confidence. Mabley & Co., Detroit, fail for $362866 Monday. On the same day "Confidence" caused the Dakota National Bank at Sioux Falls to close with $200,000 liabilities; Judge Hilton's St n in New York assigned the A, T. Stewart business, liabilities $1,891,576; The Union Manufacturing Co., of Freeport, III. got to great a dose of confidence and quit; The Streeter, Ill., street railway company could not pay the freight on their carload of confidence and stopped; a wholesale grocery firm at Lexington went to the wall; and the First National Bank of LeMars took the same route. This was Monday this week. And confidence is restored.