3337. Farmers National Bank (Vinton, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
13263
Charter Number
13263
Start Date
September 22, 1933
Location
Vinton, Iowa (42.169, -92.024)

Metadata

Model
gpt-5-mini
Short Digest
c108d2f4c807de3d

Response Measures

None

Receivership Details

Depositor recovery rate
68.8%
Date receivership started
1932-07-02
Date receivership terminated
1939-04-21
Share of assets assessed as good
35.2%
Share of assets assessed as doubtful
63.4%
Share of assets assessed as worthless
1.5%

Description

Newspaper reports (dated 1933-09-22) state that the comptroller removed W. E. Jenkins and appointed E. E. Everett as receiver for the Farmers National Bank of Vinton. No run or depositor panic is mentioned; the action is a government removal and receivership, implying suspension and closure.

Events (4)

1. December 4, 1928 Chartered
Source
historical_nic
2. July 2, 1932 Receivership
Source
historical_nic
3. September 22, 1933 Receivership
Newspaper Excerpt
Removal of W. E. Jenkins ... and appointment of E. E. Everett ... as receiver for the Farmers National bank of Vinton and the Buchanan County National bank of Independence was announced Thursday.
Source
newspapers
4. September 22, 1933 Suspension
Cause
Government Action
Cause Details
Comptroller removed the bank's officer (W. E. Jenkins) and appointed a receiver, indicating a regulatory closure/forced suspension.
Newspaper Excerpt
Removal of W. E. Jenkins, republican, by the comptroller and appointment of E. E. Everett, democrat, a receiver for the Farmers National bank of Vinton...
Source
newspapers

Newspaper Articles (2)

Article from Globe-Gazette, September 22, 1933

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Article Text

BUYING COTTON Roosevelt Calls His Farm Advisers to Consider Proposals. Sept. ident Roosevelt today called in advisers consider the cotton purchase plan submitted yesterday by the conference southern Those summoned secretary Wallace and George Peek, the ministrator the agricultural justment act, and Senator Bankhead Alabama, leader in the cotton conference. The cotton belt states proposed the government purchase half of this year's crop still held by 15 cents pound, with the understanding that for every bale chased by the government the ducers will cut next year's crop that much. To all appearances the president looking favorably the proposal to lift Cotton prices, but there reason to believe he favors lower price for the purchases, nearer 12 cents pound. Named Bank Receiver. Sept. Everett, democrat, was appointed W. Jenkins, republican, as receiver for the Farmers National bank of Vinton and the Buchanan County National bank Independence


Article from The Gazette, September 22, 1933

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Article Text

Name Fairbank Man As Bank Receiver VINTON Removal of W. E. Jenkins, republican, by the comptroller and appointment of E. E. Everett, democrat, a receiver for the Farmers National bank of Vinton and the Buchanan County National bank of Independence was announced Thursday. Everett is a resident of Fairbank, Ia. The Twentieth Century limited, operating between New York and Chicago, covers the 961 miles in eighteen hours at an average speed of 53.4 miles an hour.