3128. Altoona Savings Bank (Altoona, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
July 15, 1932
Location
Altoona, Iowa (41.644, -93.465)

Metadata

Model
gpt-5-mini
Short Digest
833a1a5d

Response Measures

None

Description

Articles document the bank in receivership (receiver appointed by the Iowa Superintendent of Banking) with court actions in July 1932 and an interlocutory/final report and discharge of the receiver in July 1933. No articles describe a depositor run; the suspension/closure appears to be by government action (receiver).

Events (3)
1. July 15, 1932 Suspension
Cause
Government Action
Cause Details
Superintendent of Banking of Iowa acting as receiver and filing application to sell assets; court order entered July 15, 1932
Newspaper Excerpt
the District Court of Polk County. Iowa, did on the 15th day of July 1932 make and enter an order fixing the 3rd day of August 1932 ... application of Andrew. Superintendent of Banking of the State of Iowa, receiver the Altoona Savings Bank
Source
newspapers
2. July 21, 1932 Other
Newspaper Excerpt
Andrew, Superintendent of Banking of the State of as Receiver of the Altoona Savings Bank, Altoona, Iowa. By Clarence Spencer Attorney for the Receiver
Source
newspapers
3. July 6, 1933 Receivership
Newspaper Excerpt
there is now on file ... the Interlocutory Final Report of the Honbrable L. A. Andrew, Superintendent of Banking of the State of Iowa as Receiver ... asks that he and A. L. Ackerley ... be discharged Receiver and Examiner of said bank and their bondsmen exonerated ... July 6, 1933
Source
newspapers

Newspaper Articles (2)
1. July 21, 1932 The Altoona Herald Altoona, IA
Article from The Altoona Herald, July 21, 1932

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Article Text

NOTICE To the Depositors, Creditors and all Persons Interested in the Matter of the Receivership of the Altoona You and each of you are hereby notified that there now on file in the office the Clerk of the District Court Polk County, Iowa, the application of Andrew. Superintendent of Banking of the State of Iowa, receiver the Altoona Savings Bank, Altoona, Iown, for order authorizing and instructing the said receiver to sell, assign and transfer without recourse one certain promissory note in the principal sum which has been paid lown an unpaid balance thereon of and real estate securing the same which real estate nortgage covers Lot and the East four Feet of Lot Block of Ento the Town of Altoona Iown, and which note and mortgage signed by A. Porter and Anna Porter and to accept for said note and mortgage depositors claims held against the said receivership in the less the 20% dividend heretofore paid on said depositors claims by this addition thereto your receiver to receive the sum $280.00 in cash. You are further notified that the District Court of Polk County. Iowa, did on the 15th day of July 1932 make and enter an order fixing the 3rd day of August 1932 on day before the Honorable Joseph Meyer one of the judges of the said court the Court House in Des Moines, Iowa, time and place for hearing on the said and you are further notified that unless you appear said time and place end show cause, any have, why the said application should be proved make better offer for said promissory note and mortsecuring the same the application of receiver your will be approved and an order of the said will he entered approving the said application filed. Andrew, Superintenvient of Banking of the State of as Receiver of the Altoons, Savings Bank, Altoona, Iowa. By Clarence Spencer Attorney for the Receiver

2. July 6, 1933 The Altoona Herald Altoona, IA
Article from The Altoona Herald, July 6, 1933

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Article Text

NOTICE To all Depositors, Creditors and other Persons interested in the Receivership of the Altoona Savings Bank of Altoona, You and each of you are hereby notified that there is now on file in the office of the Clerk of the District Court of Polk County. Iowa, the Interlocutory Final Report of the Honbrable L. A. Andrew, Superintendent of Banking of the State of Iowa as Receiver and A. L. Ackerley, as Examiner in Charge of the Altoona Savings Bank of Altoona. Iowa, in which said report the said Receiver and Examiner accounts for all moneys and other property coming into their hands as such Receiver and Examiner, shows all disbursements made, shows an accounting to the Honorable D. W. Bates, Superintendent of Banking of the State of Iowa as his successor in office, and in said report the said L. A. Andrews asks that he and A. L. Ackerley, Examiner in Charge be discharged Receiver and Examiner of said bank and their bondsmen exonerated June from 30th, all liability as of midnight, 1933. You are further notified that unless you appear thereto at the Court House in Des Moines, Iowa, and object in writing on or before the hour of 10:00 A. M. on the 8th day of July A. D. 1933 and show cause why said report should not be approved and why said L. A. Andrew and A. L. Ackerly should not be discharged and their bondsmen exonerated,, and order and incree of this Court will be entered approving said Report and dischargng the said L. A. Andrew as Receiver, and A. L. Ackerly, as Examiner in Charge of said bank and exonerating their bondsmen from all liability as of midnight, June 30th, 1933. Signed) L. A. Andrew A. Andrew, Superintendent of Banking of the State of Iowa as Receiver of the Altoona Savings Bank, Altoona, Iowa. (Signed) A. L. Ackerley Examiner in Charge Altoona Savings Bank, Altoona, Iowa. Publised in the Altoona Herald, July 6, 1933.