Article Text
NEVADA BANK CLOSES NEVADA, Jan. The Savings bank was People's closed here today due to continued Deposits amounted to about $400,000. One here. The First mains operation bank closed its doors National Wednesday.
3137. Peoples Savings Bank (Nevada, IA)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings bank
- Start Date
- January 6, 1927
- Location
- Nevada, Iowa (42.023, -93.452)
Metadata
- Model
- gpt-5-mini
- Short Digest
46eb55295eb18e28
Response Measures
None
Description
Multiple newspapers (dated 1927-01-06) report Peoples Savings Bank of Nevada failed to open / was closed due to continued withdrawals following the collapse of the Iowa Loan & Trust Company (a correspondent). The bank was closed 'for the protection of depositors' and is described as a failure; no explicit receiver named in these clippings. Classified as run -> suspension -> closure.
Events (3)
1.
January 6, 1927
Other
- Newspaper Excerpt
- Second Nevada bank closes in two days / making the second bank failure in this city within twenty-four hours ... The Peoples Savings bank was correspondent the defunct Iowa Loan and Trust company bank of Des Moines.
- Source
- newspapers
2.
January 6, 1927
Run
- Cause
- Correspondent
- Cause Details
- Heavy withdrawals triggered after failure of its correspondent, the Iowa Loan and Trust Company (Des Moines); panic/withdrawals followed correspondent's collapse.
- Measures
- Bank closed its doors / failed to open to protect depositors
- Newspaper Excerpt
- Peoples Savings bank was closed here today, due continued withdrawals
- Source
- newspapers
3.
January 6, 1927
Suspension
- Cause
- Correspondent
- Cause Details
- Bank suspended operations (failed to open) as a direct consequence of withdrawals tied to collapse of its correspondent, Iowa Loan & Trust Company
- Newspaper Excerpt
- The Peoples Savings bank of Nevada failed to open for business today... the bank had been closed for the protection of depositors
- Source
- newspapers
Newspaper Articles (3)
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Article Text
SECOND NEVADA BANK CLOSES IN TWO DAYS Nevada. Ia., Jan. The Peoples Savings bank of Nevada. failed to open for business today, making the second bank failure in this city within twentyfour hours statement issued by officials said the bank had been closed the protection of depositors The bank had capitalization of 000 and deposits of Officers were M. president, and McConkie and Martin. vice presidnets. Meeting of bank officials of the city with business men and citizens was held last night follow ing the failure of the First National was given the meeting that the finances of the two remaining banks were in good condition. Peoples Savings however, failed few The Peoples Savings bank was correspondent the defunct Iowa Loan and Trust company bank of Des Moines.
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Article Text
THREE MORE BANKS IN STATE ARE CLOSED Jan. The First National bank Moulton, with capital stock $35,000 vol. untarily remained closed yesterday, while officers of the bank were tempting to arrange for continuing the There no "run" the bank and its closing caused by the inability liquidate money that is tied up in farm loans. NEVADA. Ia., Jan. Peoples Savings bank was closed here today. due continued with drawals Deposits amounted about $400,000. bank The First National closed its doors yesterday.