3317. First National Bank (Tipton, IA)

View Charter #2983 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
2983
Charter Number
2983
Start Date
July 23, 1909
Location
Tipton, Iowa (41.770, -91.128)

Metadata

Model
gpt-5-mini
Short Digest
fc76ba61e54dc09b

Response Measures

None

Description

Articles describe two separate suspension→reopening episodes for the Tipton First National Bank: a 1909 internal embezzlement/shortage episode (Marker's flight) that led to temporary closure and planned reopening, and a 1933/1934 banking-holiday closure with a reorganization/reopening plan announced in Jan 1934. Classified overall as suspension_reopening (no clear depositor run described). Dates are taken from article text/publication dates.

Events (6)
1. June 20, 1883 Chartered
Source
historical_nic
2. June 2, 1903 Voluntary Liquidation
Source
historical_nic
3. July 23, 1909 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large shortage/embezzlement discovered after Marker's flight; missing $60,000–$70,000 and additional bad debts (~$130,000) led to the bank's temporary closing pending examiner's report.
Newspaper Excerpt
the one mystery of the case now is the missing $60,000 or $70,000 that disappeared on the night of Marker's flight
Source
newspapers
4. August 5, 1909 Reopening
Newspaper Excerpt
It was agreed that the bank would reopen and that it would be unwise to begin actions for recovery of the funds.
Source
newspapers
5. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed as part of the nationwide bank holiday / federal licensing process following the March banking holidays.
Newspaper Excerpt
since the March banking holidays ... 83 National banks remained closed, having failed to obtain federal licenses
Source
newspapers
6. January 20, 1934 Reopening
Newspaper Excerpt
Included in the banks which have been reopened are Tipton First National. Plans reorganize ... The plan calls for the release 70 per cent of deposits of $386,000.
Source
newspapers

Newspaper Articles (2)
1. August 5, 1909 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, August 5, 1909

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Article Text

TIPTON BANK SHORT $130,000. President and Examiner Confer, But Fail to Solve Mystery. Tipton, Aug. 5.-President Shirk of the First National bank of this city. whose home is in Peru, Ind., reached here and went over the report that Examiner Weir is preparing for the department at Washington. Neither he nor the examiner would give out anything in respect to the report, but it Is understood from other reliable sources that Marker's shortage, If the bad debts are considered, will run close to $130,000. The one mystery of the case now is the missing $60,000 or $70,000 that disappeared on the night of Marker's flight, and It is said that the examination does not throw any light on the subject. The report will show definitely, however, just what sum was or ought to have been in the vault on Saturday night of July 23, and when the report is made public it will be known exactly with what sum Marker is to be charged with having taken. The township trustees, all of whom have their deposits with the First National bank, met here with the county officers, whose county funds are simllarly tied up, and went over the situation today. It was agreed that the bank would reopen and that it would be unwise to begin actions for recovery of the funds.

2. January 20, 1934 The Daily Times Davenport, IA
Article from The Daily Times, January 20, 1934

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Article Text

By the Reopening in Iowa Detailed Figures For National Institutions Are Announced C., Jan. 20. today announced 137 Iowa National banks since the March banking reopened holidays. At the conclusion of the holidays' O'connor reported, 83 National banks remained closed, havfailed obtain federal licenses. that time, 37 of these Since banks with in deposits, have been reopened by consolidation, or by other tion, methods. An additional 15, with deposits, have approved 000 in plans for reorganization but have not yet completed details of reOnly O'Connor said, have no plans of reorganization. approved national with deposits are in receivliquidation and ership, pending stock Included in the banks which the followhave been reopened are ing: Frozen Deposits Tipton First Plans reorganize National bank Bellevue have been approved. The plan calls for the release 70 per cent of The institution has deposits. posits of $386,000.