Louisa County National Bank - Columbus Junction, IA

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 2032
Charter Number: 2032
Start Date: June 10, 1927
Location: Columbus Junction, Iowa (41.280, -91.361)

Metadata

Model: gpt-5-mini
Short Digest: b48c8b17

Response Measures

Full suspension

Description

Article (June 10, 1927) reports a heavy run driven by rumors about the banks' condition; both the Louisa County National Bank and Louisa County Savings Bank failed to open for business that morning. No information about reopening or receivership is provided, so outcome is uncertain.

Events (3)

1. August 24, 1872 Chartered

Source: historical_nic

2. June 10, 1927 Run

Cause: Rumor Or Misinformation
Cause Details: Heavy withdrawals triggered by rumor that the banks' financial condition was not good.
Newspaper Excerpt: There had been a heavy run on the banks, which were operated as one Institution. as result of rumor that their financial condition was not good.
Source: newspapers

3. June 10, 1927 Suspension

Cause: Rumor Or Misinformation
Cause Details: Banks failed to open following the heavy run driven by rumors about their condition.
Newspaper Excerpt: The Louisa County National bank and the Louisa County Savings bank failed to open for business here this morning.
Source: newspapers

Newspaper Articles (1)

1. June 10, 1927 The Gazette Cedar Rapids, IA

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Article Text

Banking Institution In Columbus Junction Fails To Open Doors (BY LONG DISTANCE PHONE) COLUMBUS JUNCTION. June 10. -The Louisa County National bank and the Louisa County Savings bank failed to open for business here this morning. There had been a heavy run on the banks, which were operated as one Institution. as result of rumor that their financial condition was not good. Frank Sailor was president of the National bank and R. J. Reaney was president of the Savings bank The National bank was organized in 1872 and the savings bank shortly after Bank statements published several weeks ago showed total resources of more than $800,000. with loans, surplus and profits of more than $165,000 in excess of deposits.