3330. Turin Savings Bank (Turin, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
December 9, 1930
Location
Turin, Iowa (42.019, -95.966)

Metadata

Model
gpt-5-mini
Short Digest
89781d716c184fb9

Response Measures

None

Description

Two contemporaneous news reports (Dec 1930) state the Turin Savings Bank at Turin, Iowa, 'closed' as part of a wave of Iowa bank failures. Articles do not describe a depositor run or specific cause beyond being one of several recent bank failures during the 1930 banking distress, and do not mention reopening or receivership details. Closure dated to the Tuesday before the Dec. 11, 1930 publications (likely 1930-12-09).

Events (1)
1. December 9, 1930 Suspension
Cause
Macro News
Cause Details
Closed as part of a wave of Iowa bank failures in early December 1930 during the broader banking distress of the period.
Newspaper Excerpt
Yesterday the Turin Savings bank at Turin, Iowa, closed.
Source
newspapers

Newspaper Articles (2)
1. December 11, 1930 The Duluth News Tribune Duluth, MN
Article from The Duluth News Tribune, December 11, 1930

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Article Text

Two More Banks in Iowa Close; Note Eight Failures DES MOINES, IOWA, Dec. 10. (UP) Iowa banks closed today. bringing to eight the number of failures within five days. Simmons & Co., ploneer Osceola bank with deposits of more than $1,000,000. closed its doors today simultaneously with the collapse of the Murray State bank at Mursubsidiary, with deposits of $479,000. The run of bank failures started Saturday when two Sioux City and one Des Moines bank ceased operations. Monday at Leeds and Correctionville, subsidiaries of the defunct Sioux City banks closed. Yesterday the Turin Savings bank at Turin, Iowa, closed.

2. December 11, 1930 St. Cloud Times Saint Cloud, MN
Article from St. Cloud Times, December 11, 1930

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Article Text

Two More lowa Banks Close Doors Yesterday Des Moines, Iowa, Dec. Two Iowa banks closed Wednesday, bringing to eight the number of within five days. Simmons and Co., pioneer Osceola, Iowa, bank with deposits of more than $1,000,000. closed its doors simultaneously with the collapse the Murray State bank Murray. Iowa, subsidiary deposits of $479,000. The run of bank failures started Saturday when two Sioux City and Des Moines bank ceased operations. Monday Leeds and Correctionville subsidiaries of the defunct Sioux City banks closed. Tuesday the Turin Savings bank at Turin, Iowa, closed.