Corwith State Bank - Corwith, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 22, 1907
Location: Corwith, Iowa (42.993, -93.957)

Metadata

Model: gpt-5-mini
Short Digest: b4634020

Response Measures

None

Description

Cashier J. H. Standring absconded; state examiner took charge and the bank is closed. This indicates a suspension that led to closure/receiver control due to bank-specific adverse actions (embezzlement/defalcation). Publication date used as event date (1907-11-22).

Events (2)

1. November 22, 1907 Receivership

Newspaper Excerpt: the bank is closed and a state examiner has taken charge of it.
Source: newspapers

2. November 22, 1907 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier J. H. Standring is a fugitive; letter admits fault; missing funds implied by absconding cashier and his farm deed; bank closed and examiner took charge.
Newspaper Excerpt: the bank is closed and a state examiner has taken charge of it.
Source: newspapers

Newspaper Articles (1)

1. November 22, 1907 Iowa State Bystander Des Moines, IA

Article from Iowa State Bystander, November 22, 1907

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Article Text

BANK CASHIER GONE. Corwith Banker Is Now a Fugitive From Justice. Des Moines.-Cashier J. H. Standring of the Corwith State bank is a fugitive. the bank is closed and a state examiner has taken charge of it. Its condition is unknown, but the letter received by the officers from the cashier, written from Minneapolis, leads to the belief that it is in bad shape. However, there seems to be no reason why the depositors will not be paid in full. The bank has $50,000 capital, at the last examination, July 31, it had a reserve of $4,345, a surplus of $1,000, $10,800 on deposit with other banks and undivided profits of $4,437. The deposits were only $108,287. Cashier Standring gave the officers no information as to the trouble, but remarked in his letter that it was all his fault. He forwarded a deed ta) his 500 acre farm In Minnesota valued at $30,000, and on which there is a debt of $15,000. He was under $10,000 bond by the Fidelity Deposit company. This is the first state bank which has gone up since the panic started. One national bank at Chariton has closed its doors.