First National Bank - Deep River, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6705
Charter Number: 6705
Start Date: March 1, 1926*
Location: Deep River, Iowa (41.580, -92.375)

Metadata

Model: gpt-5-mini
Short Digest: a7971e72

Response Measures

None

Receivership Details

Depositor recovery rate: 99.5%
Date receivership started: 1926-03-25
Date receivership terminated: 1929-06-30
OCC cause of failure: Governance
Share of assets assessed as good: 33.1%
Share of assets assessed as doubtful: 40.7%
Share of assets assessed as worthless: 26.1%

Description

Article (Davenport Daily Times, 1928-04-21) reports that the First National Bank of Deep River had closed in March 1926 and that a receiver (McRoberts) was appointed/assigned (telegram reported) with receivership work being handled from Marengo/Grinnell in April 1928. No run is described in the text. Classified as suspension leading to closure and receivership (government action).

Events (4)

1. March 31, 1903 Chartered

Source: historical_nic

2. March 1, 1926* Suspension

Cause: Government Action
Cause Details: Bank closed in March 1926; closure led to eventual receivership handling (government receiver assigned later).
Newspaper Excerpt: The latter closed March, 1926.
Source: newspapers

3. March 25, 1926 Receivership

Source: historical_nic

4. April 21, 1928 Receivership

Newspaper Excerpt: Named Bank Receiver ... received telegram Wednesday night from Washington appointment receiver for the ... First National bank Deep River. The latter closed March, 1926. Mr McRoberts left Wednesday for Grinnell. The receivership handled from the office in this city for some time. Mr McRoberts and his assistants ... will be able to divide their time ... to care for the work there. (Davenport Daily Times, 1928-04-21).
Source: newspapers

Newspaper Articles (1)

1. April 21, 1928 The Daily Times Davenport, IA

Article from The Daily Times, April 21, 1928

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Article Text

MARENGO, April bearing skull and crossbones seal been issued to the seniors by the juniors Marengo high school, inviting them to the annual banquet, May The gymnasium will be decorated pirates' den, the same idea being carried the program toasts which arranged by LaVera McGivern the junior class. Misses Edna Drew Bernice Gilmore are class sponsors. Named Bank Receiver W. receiver for the defunct First bank Marengo, received telegram Wednesday night from Washington appointment receiver for the Merchants tional bank of Grinnell, which been hands of Thomas, and of the First National bank Deep River. The latter closed March, 1926. Mr McRoberts left Wednesday for Grinnell. The receivership handled from the office in this city for some time. Mr McRoberts and his assistants, William Jenkins and Rusch, will be able to divide their time to be Grinnell and Deep River part each week to care for the work there. Postpone Operetta The operetta, Vagabond," been given by the Boys' Glee club of high school, Friday night, has been to death owing Emil Wall, one of the principal characters. The musical comedy and girls' musicale were planned for early in March, when epidemic of an school curtailed rehearsthe als make its presentation again postponed until after the Lenten seawill doubt have be son, and no the opening of delayed until school next fall. Hold School of Instruction The Pythian Sisters Marengo held school instruction Friday afternoon. Mrs Mayme Hunter Montezuma, state inspector, present. The of ritual occupied attention of the ning, when Mrs Ray Lindsay was into the order. dinner enjoyed after the in the afternoon. dinner were Mr Leib, Mr and Mrs Frank Hite, Mr and Mrs Paul Harned. Mr and Mrs Waddell and Mr and Mrs Mead, H. Turner and Rotary Club Meets The rotary of this city loved its weekly luncheon Thursthe Doose Plans day at made for attendance the members at the dissome of trict Rotarian convention Iowa 24 and 25. The April charge the work Ed. Hogan and