First National Bank - Terril, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10238
Charter Number: 10238
Start Date: October 29, 1927
Location: Terril, Iowa (43.306, -94.972)

Metadata

Model: gpt-5-mini
Short Digest: ebd6e1534af2ae58

Response Measures

None

Receivership Details

Depositor recovery rate: 81.1%
Date receivership started: 1926-11-23
Date receivership terminated: 1931-02-14
OCC cause of failure: Economic conditions
Share of assets assessed as good: 29.2%
Share of assets assessed as doubtful: 41.5%
Share of assets assessed as worthless: 29.3%

Description

Article (1927-10-29) refers to the 'defunct First National bank of Terril, Ia.' and describes the cashier's falsification of records and covering of a customer's large overdrafts that led to the bank's failure. No explicit mention of a depositor run is given; the bank had already failed (closed). Exact failure date not provided in the article.

Events (4)

1. August 5, 1912 Chartered

Source: historical_nic

2. November 23, 1926 Receivership

Source: historical_nic

3. October 29, 1927 Other

Newspaper Excerpt: Miller pleaded guilty ... to falsification records national bank, and was sentenced to serve months in the Dickinson county jail ... Miller made good as far he could with his own money, amounting about $27,000 ... the bank's failure not due this transaction, the attorney said.
Source: newspapers

4. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Cashier falsified records and used other bank funds to cover a customer's large overdrafts and eventual bankruptcy, producing a deficiency that led to the bank's failure.
Newspaper Excerpt: the downfall of Mar Miller, cashier of the defunct First National bank of Terril, Ia.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1927 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, October 29, 1927

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Article Text

BANKER GETS JAIL SENTENCE Leniency for Iowan Who Shielded Friend and Lost Fortune. Efforts to protect friend and the bank for which he was working brought about the downfall of Mar Miller. cashier of the defunct First National bank. of Terril. Ia., at torney. Harry Narey, of Spirit Lake, Judge George Scott. Friday. Miller pleaded guilty before Judge Scott to falsefication records national bank. and was sentenced to serve months in the Dickinson county jail with instructions that he paroled to his attorney after serv. ing 30 days. Account Overdrawn. Miller's attorney told the court that the defendant had moved from Cherokee. Terril. in 1919, when he was 29 years old and became cashier the bank. was in boom times. and by the name of Max Henry Maas was good customer the bank, owning great deal of property. grain elevator and interests in other businesses. When times became hard. Maas, the attorney said. overdrew his account Thinking Maas would be in position straighten matters up within few days, Miller took other bank money to cover the shortage. Instead being able to pay the money back, more and Miller feared bring suit in the public should and run on the bank. Maas debt to the bank finally grew until it to Cashier Pays $27,000. Maas finally went bankrupt. the attorney stated. Miller made good the as far he could with his own money. amounting about $27,000 and the rest of the deficiency was made up by others that the bank's failure not due this transaction. the attorney said. Judge Scott that he was convinced that Miller had not profited by his criminal act, nor ever had intended to do SO. The crime carries maximum sentence five years the penitentiary or fine $5,000, view the facts the court imposed jail sentence.