Article Text
TWO IOWA BANKS CLOSED DES Nov. banks, Grand River State bank of Grand River, the First National bank Roland, closed today. Frozen as the cause of both given
3207. First National Bank (Roland, IA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 11249
- Charter Number
- 11249
- Start Date
- November 30, 1930
- Location
- Roland, Iowa (42.166, -93.502)
Metadata
- Model
- gpt-5-mini
- Short Digest
b1f4e5a67ec196e4
Response Measures
None
Receivership Details
- Depositor recovery rate
- 48.5%
- Date receivership started
- 1930-11-29
- Date receivership terminated
- 1936-03-11
- OCC cause of failure
- Economic conditions
- Share of assets assessed as good
- 52.3%
- Share of assets assessed as doubtful
- 46.0%
- Share of assets assessed as worthless
- 1.7%
Description
Article (Tampa Bay Times, 1930-11-30) reports the First National Bank of Roland, IA closed on that day; cause given as Frozen. A subsequent Ames Tribune article (1931-08-14) identifies J. R. Shannon as receiver of the First National Bank of Roland, confirming the bank remained closed and entered receivership. No articles describe a depositor run prior to suspension, so this is classified as a suspension that resulted in permanent closure/receivership. 'Frozen' is recorded from the text and is unclear; thus cause is coded as 'other' with details.
Events (4)
1.
September 27, 1918
Chartered
- Source
- historical_nic
2.
November 29, 1930
Receivership
- Source
- historical_nic
3.
November 30, 1930
Receivership
- Newspaper Excerpt
- J. R. Shannon, receiver of the First National bank of Roland has filed suit ... (Ames Tribune, 1931-08-14). This indicates the bank was in receivership following closure in late 1930. Bank Receiver Is Suing on Two Notes NEVADA J. R. Shannon, receiver of the First National bank of Roland has filed suit ... The plaintiff also seeks writ of attachment against all of the defendants' goods. (Article date: 1931-08-14.)
- Source
- newspapers
4.
November 30, 1930
Suspension
- Cause Details
- Reports state the bank was 'frozen' (text: Frozen as the cause), exact meaning unclear (assets/payments frozen).
- Newspaper Excerpt
- TWO IOWA BANKS CLOSED ... the First National bank Roland, closed today. Frozen as the cause of both given
- Source
- newspapers
Newspaper Articles (2)
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Article Text
Bank Receiver Is Suing on Two Notes NEVADA J. R. Shannon, receiver of the First National bank of Roland has filed suit in district court here for judgment of $1,715.64 against Sara Peck and Ray M. Peck on the basis of two promis sory notes. The first note was signed February 21, 1930 and was due September 20. 1930. The sec ond note was given February 1. 1930 and was due February 1931 The plaintiff also seeks writ of attachment against all of the defendants' goods.