First National Bank - Blockton, IA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 8211
Charter Number: 8211
Start Date: October 1, 1931*
Location: Blockton, Iowa (40.616, -94.477)

Metadata

Model: gpt-5-mini
Short Digest: 43cf3589

Response Measures

Full suspension

Other: Board closed the bank to protect depositors; receiver appointed.

Receivership Details

Depositor recovery rate: 34.6%
Date receivership started: 1931-10-22
Date receivership terminated: 1936-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 20.8%
Share of assets assessed as doubtful: 78.1%
Share of assets assessed as worthless: 1.1%

Description

Article (St. Joseph News-Press, 1931-11-05) reports withdrawals that prompted the board to close the bank in October to protect the depositors, and a receiver was appointed in early November. The immediate trigger for withdrawals is not specified in the text, so cause is coded as 'other'. Dates are taken from the publication and text (closure in Oct 1931; receiver appointed by 1931-11-05).

Events (5)

1. May 8, 1906 Chartered

Source: historical_nic

2. October 1, 1931* Run

Cause Details: Unspecified withdrawals/heavy withdrawals prompted action; article does not state reason (rumor, correspondent failure, or bank-specific scandal not given).
Measures: Bank was closed by the board of directors in October to protect depositors.
Newspaper Excerpt: the bank closed Oct. by the board of directors to Price protect the depositors following withdrawal of funds.
Source: newspapers

3. October 1, 1931* Suspension

Cause Details: Closure by board in response to withdrawals; article does not indicate government action or voluntary liquidation beyond closure to protect depositors.
Newspaper Excerpt: the bank closed Oct. by the board of directors to Price protect the depositors following withdrawal of funds.
Source: newspapers

4. October 22, 1931 Receivership

Source: historical_nic

5. November 5, 1931 Receivership

Newspaper Excerpt: Dark Colors Gebhard was recently appointed All Sizes receiver for the First National ... Bank of Blockton and began his ... duties today.
Source: newspapers

Newspaper Articles (1)

1. November 5, 1931 St. Joseph News-Press St. Joseph, MO

Article from St. Joseph News-Press, November 5, 1931

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Article Text

BANK RECEIVER APPOINTED. BLOCKTON, Iowa, Nov: Dark Colors Gebhard was recently appointed All Sizes receiver for the First National $1.00 Values Bank of Blockton and began his Selling Out duties today. The bank closed Oct. by the board of directors to Price protect the depositors following withdrawal of funds. HER NAME IS LONGEST. TOPEKA, Kan., Nov. Miss Basement Louise Holkolnkaomper, Atchison, freshman student, goes the distinetion of having the name of any student registered in Washburn. Robert Schormorhorn, Junction City, sophomore, has the second longest name. PART WOOL