Shaffer State Bank - Altoona, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1933
Location: Altoona, Iowa (41.644, -93.465)

Metadata

Model: gpt-5-mini
Short Digest: 7e57e65d

Response Measures

None

Description

Article (Des Moines Tribune, 1933-03-02) states the Shaffer State Bank of Altoona is operating under the management of the state banking department, which 'took it over Wednesday.' This indicates a government takeover/suspension and assignment to state control (receivership). The brief article gives no indication the bank reopened, so classified as suspension_closure (government action).

Events (2)

1. March 1, 1933 Receivership

Newspaper Excerpt: is now operating under management of the state banking department. The banking department took it over Wednesday
Source: newspapers

2. March 1, 1933 Suspension

Cause: Government Action
Cause Details: State banking department took over management of the bank (government takeover/receivership).
Newspaper Excerpt: State Runs Altoona Bank. The Shaffer State bank of Altoona, Ia., is now operating under management of the state banking department. The banking department took it over Wednesday
Source: newspapers

Newspaper Articles (1)

1. March 2, 1933 Des Moines Tribune Des Moines, IA

Article from Des Moines Tribune, March 2, 1933

Click image to open full size in new tab

Article Text

Wallace Medal Comes to Light Given to Cabinet Member's Father. (The Tribune's Iowa News Service AMES, IA.-The appointment of H. A. Wallace of Des Moines as secretary of agriculture sent H. E Pride, secretary of the Memorial union at Iowa State college, husthing to the attic. And from the storeroom came forth treasured zinc medal presented to Henry C. Wallace, for mer secretary of agriculture and father of the new cabinet member by the Des Moines club Mar. 1, 12 years ago when he left for Washington to assume his new duties The medal, which is about 15 inches across, was designed by J. N. (Ding) Darling, Des Moines Register cartoonist The medal was given the Memorial Union Corp. by Mrs. H. C. Wallace, for mer student in the class of 1889 At the top of the medal is inscribed. "Henry C. Wallace, the Plowboys' Champion. Farther down, "We have to hand it to y'u Kid!" And at the bottom modernized Latin inscription, "In hog signo vinces." State Runs Altoona Bank. The Shaffer State bank of Altoona, Ia., is now operating under management of the state banking department. The banking depart ment took it over Wednesday ADVERTISEMENT