Article Text
DEFUNCT BANK AT ROCKFORD DECLARES DIVIDEND. Rockford, October First National bank, which closed February 20 cent dividend. This the first dividend declared the bank. Cuttell, of Spencer, the receiver in charge.
3204. First National Bank (Rockford, IA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 3053
- Charter Number
- 3053
- Start Date
- February 20, 1929
- Location
- Rockford, Iowa (43.052, -92.949)
Metadata
- Model
- gpt-5-mini
- Short Digest
509eb90a8593f3e5
Response Measures
None
Receivership Details
- Depositor recovery rate
- 68.3%
- Date receivership started
- 1929-02-23
- Date receivership terminated
- 1935-07-25
- OCC cause of failure
- Economic conditions
- Share of assets assessed as good
- 17.5%
- Share of assets assessed as doubtful
- 36.8%
- Share of assets assessed as worthless
- 45.7%
Description
Articles indicate First National Bank of Rockford closed (suspended) on February 20 and a receiver (Cuttell) was in charge; the bank is described as defunct and declaring a dividend, indicating permanent closure and liquidation. No run is mentioned in the articles, and receiver litigation over deposits is discussed.
Events (5)
1.
September 21, 1883
Chartered
- Source
- historical_nic
2.
February 20, 1929
Suspension
- Cause Details
- Bank closed on February 20 (reason not specified in articles); suspension appears to be a failure leading to receivership and liquidation.
- Newspaper Excerpt
- Rockford, October First National bank, which closed February 20
- Source
- newspapers
3.
February 23, 1929
Receivership
- Source
- historical_nic
4.
October 1, 1929
Other
- Newspaper Excerpt
- DEFUNCT BANK AT ROCKFORD DECLARES DIVIDEND. Rockford, October First National bank, which closed February 20 cent dividend. This the first dividend declared the bank. Cuttell, of Spencer, the receiver in charge.
- Source
- newspapers
5.
*
Receivership
- Newspaper Excerpt
- Cuttell, of Spencer, the receiver in charge. ... Cuttell, receiver the First National bank at Rockford. ... the receiver of bank claims that ... seeks have the claim put with other ordinary claims.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
CLARK PRESIDES FOR COURT TERM AT CHARLES CITY Only One Grand Jury Case; Bank Receiver Resists Preference Claim. Special Charles City. April term the district opened here Monday morning with Judge Clark of Mason City presiding The grand jury will meet Tuesday with only one case scheduled for its attention The trial jury is called for Monday April 21 o'clock Among the to come up is that of Fred Cline, administrator of the estate Henry M Cline Cuttell. ceiver the First National bank at Rockford. which the plaintiff asking change of venue to federal Nature of Deposit Issue. It appears that Cline as administrator. collected mortgage of $12. 500. due the estate which was held on Minnesota farm He asked the court to appoint for the money and Judge C. Kelley then presiding appointed the First State bank but the bank refused to the required bond and then the First National bank appointed The court order required that it be special deposit and bonds put The bonds put up but after failure the bank the bondmen could not make good Resist Preference Claim Cline seeks have deposit placed claim the receiver of bank claims that while the court special deposit. not been handled in this way and seeks have the claim put with other ordinary claims.