Corn Belt Savings Bank - Cedar Rapids, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: December 22, 1934
Location: Cedar Rapids, Iowa (42.008, -91.644)

Metadata

Model: gpt-5-mini
Short Digest: ff140128

Response Measures

None

Description

Article (Dec 22, 1934) reports the Corn Belt Savings Bank of Cedar Rapids making a fourth payment of 10 per cent totaling $60,000 to depositors from the estate, indicating the bank is in liquidation/receivership and paying dividends. No run is mentioned; this is a suspension resulting in permanent closure/liquidation.

Events (2)

1. December 22, 1934 Suspension

Cause: Voluntary Liquidation
Cause Details: Periodic dividend payment from the bank's estate (fourth 10% payment) indicating liquidation/settlement of deposits.
Newspaper Excerpt: Corn Belt Savings bank, Cedar Rapids, Ia., fourth payment of 10 per cent. totaling $60,000.
Source: newspapers

2. * Other

Newspaper Excerpt: Fourth payment of 10 per cent to depositors from estate; bank in process of paying depositors (liquidation).
Source: newspapers

Newspaper Articles (1)

1. December 22, 1934 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, December 22, 1934

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Article Text

3 IOWA BANKS START PAYING WAR UNIT FIGHTS FEDERAL ARMS Largest at Lyons Releases Says Ownership by $113,000 to Depositors. U. S. Would Fail. New York Produce. DRESSED Minneapolis. Milwaukee. St. Louis. LOUIS FRIDAY May Liverpool. LIVERPOOL Winnipeg. Omaha. FRIDAY Hay Market New York Kansas City. Chicago Produce. BUTTER No. Omaha Produce. Bank payments were announced Friday at several cities in Iowa They included the following: Corn Belt Savings bank, Cedar Rapids, Ia., fourth payment of 10 per cent. totaling $60,000. William Lamb bank. Glenwood payment of $25,000 from estate 10 per cent payment, totaling