3238. Farmers State Bank (Clutier, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 18, 1929
Location
Clutier, Iowa (42.079, -92.402)

Metadata

Model
gpt-5-mini
Short Digest
2f4f49a6

Response Measures

None

Description

Articles indicate Farmers State Bank at Clutier was closed and in receivership by at least 1929; receiver actions reported (Dec 18, 1929) and final dividends paid to depositors reported Dec 25, 1930. No article describes a depositor run. Closure appears permanent with a receiver handling asset sales and final dividends.

Events (4)
1. December 18, 1929 Other
Newspaper Excerpt
Clutier Bank's Receiver Makes Sixth Report ... The receiver of the closed Farmers bank in Clutier has filed his sixth report with the Tama county clerk, covering transactions from March to Oct.
Source
newspapers
2. August 6, 1930 Receivership
Newspaper Excerpt
George Knoop farm ... has been sold by the receiver of the Farmers bank in Clutier to Frank Kirkman ... This farm was taken by the bank ... the receivership is to be closed for the extremely low price
Source
newspapers
3. December 25, 1930 Receivership
Newspaper Excerpt
Farmers State bank at Clutier, $19,321.72; ... Eight closed Iowa banks have paid the final dividend to depositors as a Christmas gift, L. Andrew, state superintendent of banking, reported today.
Source
newspapers
4. * Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in receivership (state superintendent and receiver involved); exact trigger not specified in articles
Newspaper Excerpt
the receiver of the closed Farmers bank in Clutier has filed his sixth report
Source
newspapers

Newspaper Articles (3)
1. December 18, 1929 The Courier Waterloo, IA
Article from The Courier, December 18, 1929

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Article Text

Clutier Bank's Receiver Makes Sixth Report (Courier Special Service) Traer, Ia.-The receiver of the closed Farmers bank in Clutier has filed his sixth report with the Tama county clerk, covering transactions from March to Oct. The last report showed bills receivable of Since then $5,133 has been collected in cash and several settlements have been made by taking deeds to farms. The total expense the receivership for the period since March was including $100 per month for the receiver and fees from Jan last. More than $2,000 was advanced for taxes, etc., to conserve the assets. Cash on hand Sept. 30 amounted to $13,613. This is on interest in city banks.

2. August 6, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, August 6, 1930

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Article Text

BANK RECEIVER SELLS TAMA COUNTY FARM TRAER George Knoop farm, half section between Traer and Clutier, has been sold by the receiver of the Farmers bank in Clutier to Frank Kirk man of Van Horne considof $42. The sanction of the court is all that is needed to complete the deal This farm was taken by the bank and the fact that the receivership is to be closed for the extremely low price The farm is a good one. highly improved, and well located

3. December 25, 1930 Globe-Gazette Mason City, IA
Article from Globe-Gazette, December 25, 1930

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Article Text

CLOSED PAY DIVIDEND AS CHRISTMAS GIFT Eight of Iowa Institutions Make Final Payments to Depositors. DES MOINES, Dec. 25. (P)Eight closed Iowa banks have paid the final dividend to depositors as a Christmas gift, L. Andrew, state superintendent of banking, reported today. They are as follows: Parnell Savings bank, $12,944.59; Farmers Savings banks at Troy Mills, $4,721.97; Odebolt Savings bank, $11,789.21; Winthrop State bank, $38,789.21; Ringsted State bank, $51,250.22; Farmers Savings bank at Odebolt, $18,874.14; Farmers State bank at Clutier, $19,321.72; Jesup State bank, $28,853.86. Nineteen other closed banks have paid Christmas dividends as follows: Farmers Savings bank at Bernard, 25 per cent, $36,662.48. Farmers and Traders State bank at Bonaparte, 15 per cent, $51,128.49. First State Savings bank at McCausland, 25 per cent, $29,331.55. Peoples Savings bank at Marengo, 5 per cent, $22,512.66. Malcolm Savings bank, 10 per cent, $19,974.14. Des Moines Commercial Savings bank, 5 per cent, $92,514.70. Security State bank at Promise City, 25 per cent, $45,017.87. County Savings bank at Algona, 10 per cent, $137,669.38. United State bank at Des Moines, 5 per cent, $67,165.18. Floris Savings bank, 30 per cent, Peosta Savings bank, 20 per cent, $12,016.99. Farmers Savings bank at Corwith, 25 per cent, $53,442.13. Gravity State bank, 25 per cent, Peoples State bank at Humboldt, 10 per cent, $43,644.67. Anthon tSate bank, 10 per cent, Citizens State bank at Anthon, 10 per cent, $26,743.92. Farmers State bank at Rockwell,