Clermont State Bank - Clermont, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1931*
Location: Clermont, Iowa (43.004, -91.652)

Metadata

Model: gpt-5-mini
Short Digest: 85d51073

Response Measures

None

Description

Articles (Feb and Apr 1933) state the Clermont State Bank had closed about two years earlier, was in receivership, and final dividends/depositor payouts were made in early 1933. No run is mentioned; the bank remained closed with a receiver and trustees handling remaining assets.

Events (3)

1. January 1, 1931* Suspension

Cause Details: Article notes the bank's doors were closed about two years prior to Feb 1933 but gives no specific cause.
Newspaper Excerpt: whose doors were closed some two years ago.
Source: newspapers

2. February 3, 1933 Receivership

Newspaper Excerpt: THE CLERMONT STATE BANK PAYS DEPOSITORS FULL...The receivership already to be closed. All depositors have been paid full, and the stockholders, who were assessed 100 per cent, will get back a portion if not all of the assessment. G. E. Everett of the state banking department was in charge of the bank as receiver ... trustees were elected ... L. O. Buescher ... is to have charge of disposing of the remaining assets of the bank. The trustees are Dan Burke E. O. Lein and L. H. Aanes.
Source: newspapers

3. April 5, 1933 Receivership

Newspaper Excerpt: L. Andrew, state superintendent of banking, announced today that dividends amounting to $1,648,962.98 were paid out by the receivership department to depositors in closed state and savings banks and trust companies during the first three months of 1933. Final dividends were paid at the Clermont State bank...
Source: newspapers

Newspaper Articles (2)

1. February 3, 1933 The Oelwein Daily Register Oelwein, IA

Article from The Oelwein Daily Register, February 3, 1933

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Article Text

THE CLERMONT STATE BANK PAYS DEPOSITORS FULL Something that. very few closed Iowa banks have accomplished reported from the State Bank of Clermont, whose doors were closed some two years ago. The receivership LA ready to be closed All depositors have been paid full, and the stockholders, who were assessed 100 per cent, will get back a portion If not all of the assessment. G. E. Everett of the state banking department was in charge of the bank as receiver and Leon R. Layton of West ion attended to the legal end the work-and both are to be yer) highly complimented on the man ner this property was handled A a meeting of the stockholders Saturday, trustees were elected work with L. O. Buescher of the Citizens State Bank of Postville who is to have charge of dispos ing of the remaining assets of the bank. The trustees are Dan Burke E. 0. Lein and L. H. Aanes. WANT-ADS BRING RESULTS.

2. April 5, 1933 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, April 5, 1933

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Article Text

IOWA BANK RECEIVERS PAY OUT $1,648,962 L. Andrew, state superintendent of banking, announced today that dividends amounting to $1,648,962.98 were paid out by the receivership department to depositors in closed state and savings banks and trust companies during the first three months of 1933. Final dividends were paid at the Clermont State bank, Delaware Savings bank, Oakville State savings bank, Farmers Savings bank of Birmingham, Home Savings bank of Exira. Savings bank of Salem, and the Rise Savings bank of The Greenfield Savings at Greenfield paid 15 per cent, or $27,028.64