First National Bank - Davenport, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 15
Charter Number: 2695
Start Date: November 25, 1904
Location: Davenport, Iowa (41.524, -90.578)

Metadata

Model: gpt-5-mini
Short Digest: b1577ca4

Response Measures

None

Description

No contemporaneous run is mentioned. Comptroller closed the First National Bank of Davenport for insolvency and appointed a receiver (government action). A later 1934 article references the bank's receiver pursuing litigation, confirming long-term receivership/closure rather than reopening.

Events (6)

1. June 24, 1863 Chartered

Source: historical_nic

2. May 17, 1882 Chartered

Source: historical_nic

3. November 25, 1904 Receivership

Newspaper Excerpt: National Bank Examiner Eugene T. Wilson has been appointed receiver.
Source: newspapers

4. November 25, 1904 Suspension

Cause: Government Action
Cause Details: Closed by direction of the Comptroller of the Currency due to insolvency from losses on excessive loans, principally to mining interests.
Newspaper Excerpt: The First Na. bank of Davenport, Iowa, has been closed by direction of the comptroller of currency because of insolvency, and National Bank Examiner Eugene T. Wilson has been appointed receiver.
Source: newspapers

5. April 25, 1931 Voluntary Liquidation

Source: historical_nic

6. February 6, 1934 Other

Newspaper Excerpt: Lindenmayer, receiver of the First National bank, against the American Surety Co. of New York... The bank receiver asked judgment against the surety company... on the bond of McChesney, former president of the bank.
Source: newspapers

Newspaper Articles (2)

1. November 26, 1904 Americus Times-Recorder Americus, GA

Article from Americus Times-Recorder, November 26, 1904

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Article Text

Iowa Bank Closes Its Doors. Washington, Nov. 25.-The First Na. bank of Davenport, Iowa, has been closed by direction of the comptroller of currency because of insolvency, and National Bank Examiner Eugene T. Wilson has been appointed receiver. The failure of this bank, according to a statement issued by the comptroller, is due to losses sustained puon excessive loans, principally to mining interests with which the officers of the bank are identified.

2. February 6, 1934 Iowa City Press-Citizen Iowa City, IA

Article from Iowa City Press-Citizen, February 6, 1934

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Article Text

Action Started by Bank Receiver Goes To Federal Hon. James P. Gaffney Monday ordered the removal of the action Lindenmayer, receiver of the First National bank, against the American Surety Co. of New York. from district court to federal court Davenport. The order made upon the petition for transfer filed by the surety com pany. through Attys. Carr. Cox. Evans. and Riley of Des Moines. The bank receiver asked judg against the surety company the sum of on the bond of McChesney. former president of the bank. The action was the ault of federal court decision lowing the claim Pearl M. Chap man against the bank receiver.