3318. Tipton National Bank (Tipton, IA)

View Charter #13232 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
13232
Charter Number
13232
Start Date
September 2, 1931
Location
Tipton, Iowa (41.770, -91.128)

Metadata

Model
gpt-5-mini
Short Digest
c39560a5376b7601

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Newspapers (Sept 4, 1931) report a discrete run on Tipton National Bank following the failure/closing of the Farmers & Merchants Bank to open. The run distributed about $35,000 but did not injure the bank; cash began returning and the bank remained open under armed guard. No suspension or closure is reported.

Events (3)
1. August 20, 1928 Chartered
Source
historical_nic
2. September 2, 1931 Run
Cause
Local Banks
Cause Details
Run was triggered by the Farmers and Merchants bank failing/closing and not opening its doors, prompting depositors at Tipton to withdraw funds.
Measures
Met withdrawal demands (about $35,000 distributed); bank placed under armed guard; cash later returned and redeposited.
Newspaper Excerpt
RUN ON TIPTON BANK IS ENDED; CASH RETURNED. ... Following run on the Tipton National bank Wednesday, when approximately $35,000 was distributed in withdrawals without injuring the condition of the institution ... The run on the bank resulted from the failure of the Farmers and Merchants bank to open its doors Tuesday. The Tipton National is under armed guard day and night.
Source
newspapers
3. June 8, 1933 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. September 4, 1931 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, September 4, 1931

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Article Text

Bank on When Depositors' the closing Farmers and ants Savings bank Wednesday morning was started on Tipton National bank. Plencash was hand and demands the depositors promptly. was withdrawn before the panic subsided. some those who had withdrawn their funds began redeposit. By late the the run ceased entirely there have been since that time. the other hand the money withdrawn being slowly returned to the bank.

2. September 4, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, September 4, 1931

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Article Text

RUN ON TIPTON BANK IS ENDED; CASH RETURNED National Bank Meets Demands Following Closing of Neighbor. Tipton, Ia., Sept. 4.-Following "run" on the Tipton National bank Wednesday, when approximately $35,000 was distributed in withdrawals without injuring the condition of the institution, confidence Kegs in the bank was renewed, and cash started to return Thursday. The "run" on the bank resulted from the failure of the Farmers and Merchants bank to open its doors Tuesday. The Tipton National is under armed guard day and night.