Peoples Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: January 1, 1930*
Location: Nevada, Iowa (42.023, -93.452)

Metadata

Model: gpt-5-mini
Short Digest: 3508a171abe2707f

Response Measures

None

Description

Article (Ames Tribune, 1931-09-23) refers to a receiver (Semans) of the Peoples Savings Bank of Nevada and embezzlement charges while he served as receiver. This indicates the bank had been placed in receivership (a government action) prior to 1931. The provided articles do not describe any depositor run or a reopening; therefore I classify this as a suspension (closure) with receivership. Exact suspension/receivership dates are not given in the text; receiver left service in 1930 per the article, so I use 1930 as approximate year where needed.

Events (2)

1. January 1, 1930* Receivership

Newspaper Excerpt: Semans ... receiver of the Peoples Savings bank of Nevada ... he left the service of the state banking department in 1930.
Source: newspapers

2. January 1, 1930* Suspension

Cause: Government Action
Cause Details: Bank was taken into receivership by the state banking department (receiver employed); bank effectively suspended operations and placed in receivership.
Newspaper Excerpt: receiver of the Peoples Savings bank of Nevada
Source: newspapers

Newspaper Articles (1)

1. September 23, 1931 Ames Tribune Ames, IA

Article from Ames Tribune, September 23, 1931

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Article Text

SEMANS BY STORY GRAND Seven Indictments Are Returned On Tuesday Semans, for. resident of Ames and forreceiver of the Peoples Savings bank of Nevada, freed charge of embezzlewhich hung over since April, when the Story county grand jury returned no true bill against him Tues. day. According to County At. torney Jeffrey Hougen, no evi. dence against Semans was sub. mitted the jury. Semans was bound to the grand jury April when he pleaded not guilty before Judge Luke in the Ames municipal court charges of embezzlement filed against him by Bruce Townsend of the state banking department. Townsend charged that Semans had embetzled $1,000 or more while he was employed as receiver the Nevada bank. Unable to furnish the $5,000 bond set by Judge Luke. Semans was committed to the county jail Nevada where he remained unJuly. when furnished bond and was released. The former bank receiver arrested in LaCrosse, Wis. He left the service of the state banking department in 1930. No true bills were also returned against Keeler, charged with failure to report an accident, Koons, charged with assault with intent to do great bodily injury and Martin Erickson, charged with embezzlement. Seven indictments were returned the grand jury. joint indictment on charge possessing burglary tools was returned against Otto Shreck of Nevada and Harry and Theodore Ebsen. The Ebsen brothers were found guilty Red Cloud. Nebr., Saturday robbing the Webster county bank there July Louis Ames dicted on sodomy charge. The other five indictments have not yet been made public. In its report to the court, the grand jury stated that had made tour of inspection of all jails the county. and that most of them in good condition. It stated that the county home well taken care of, but concurred the report of the March term grand jury on the county jail, which statthat found to be in sanitary condition. that the ventilation was poor and that the light (Continued on Page Two)