First National Bank - Belle Plaine, IA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 2012
Charter Number: 2012
Start Date: February 1, 1927*
Location: Belle Plaine, Iowa (41.897, -92.278)

Metadata

Model: gpt-5-mini
Short Digest: 09e98122

Response Measures

Full suspension

Receivership Details

Depositor recovery rate: 52.4%
Date receivership started: 1927-03-03
Date receivership terminated: 1931-12-31
Share of assets assessed as good: 32.9%
Share of assets assessed as doubtful: 43.3%
Share of assets assessed as worthless: 23.7%

Description

Article (Nebraska City News-Press, 1927-02-24) reports the closing of the First National Bank of Belle Plaine after depositors withdrew almost $500,000 in a short run. The text does not describe any corrective measures, reopening, or receivership assignment. Cause of the run is not specified beyond heavy withdrawals; therefore classified as 'other' (unable to tell exact trigger). Dates are taken from the newspaper publication; the run/closing are reported as recent to that date.

Events (4)

1. July 12, 1872 Chartered

Source: historical_nic

2. February 1, 1927* Other

Newspaper Excerpt: following the closing of the First National Bank at that place. ... cashier of the bank has asserted that the reason the bank was closed was the withdrawal of almost $500,000 by depositors who made a short run on the bank.
Source: newspapers

3. February 1, 1927* Run

Cause Details: Article states depositors withdrew almost $500,000 in a short run; no explicit trigger (rumor or bank-specific failure) mentioned.
Newspaper Excerpt: C. A. Sweet, cashier of the bank has asserted that the reason the bank was closed was the withdrawal of almost $500,000 by depositors who made a short run on the bank.
Source: newspapers

4. March 3, 1927 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 24, 1927 Nebraska City News Press Nebraska City, NE

Article from Nebraska City News Press, February 24, 1927

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Article Text

SAYS MUNN HAS THE REAL PUNCH Jim Corbett Declares Nebraskan Only Too Eager to End Bouts Quickly heavyweight pugilist is championship material and will go to the top if he studies the game more is the belief of James J. Corbett. former heavyweight champion Munn has everything.' Corbett declares. "If he will learn to box, to feint to fence for an opening and then land the telling blow, Munn can become the dominating figure in the boxing ring today. Corbett insisted that if Munn can only refrain from trying to end fights in the first or second round "he can attain the very heights, the heavyweight championship of the world It is Corbett's belief, too, that Gene Tunney is very much underrated. "Jack Dempsey is through forever, the old champion said in commentingon fights while in Omaha Tuesday Corbett was accom panied by his wife, formerly Miss Jessie Thorpe of Omaha. To Belle Plaine. Wesley Booth. of the firm of Bcoth B.others, operators of the Nebraska City theaters is spending the week in Belle Plaine, Iowa, attending business matters. The Booth brothers have theater interests in that city and Mr. Booth went over to see about the affairs following the closing of the First National Bank at that place. Theater accounts were not carried in this bank. however, and the firm will lose no money through the closing C. A. Sweet. cashier of the bank has asserted that the reason the bank was closed was the withdrawal of almost $500,000 by depositors who made a short run on the bank. The Belle Plaine Sweet. by the way, is not related to the Otoe County family. New War School Opens. LONDON The first session of the new Imperial Defense College opened here -recently with 27 senior officers of the various services attending. Eighteen officers of the three fighting services and two each from Canada. Australia and India and one from New Zealand as well as one each from the Colonial Office and the Treasury constitute the first class Appointments of civil officers from the Foreign Office the India Office and perhaps the Board Trade will probably be made later. The school will deal principally with the co-ordination of policy in Empire defense.