Central Trust Company - Des Moines, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: *
Location: Des Moines, Iowa (41.601, -93.609)

Metadata

Model: gpt-5-mini
Short Digest: 9e76c31e

Response Measures

None

Description

Article (Dec 28, 1926) reports Central Trust Company closed its doors and that a receiver exists (bonding companies assumed state's claim). No explicit run described; bank is closed and state reimbursed — indicates permanent closure with receiver.

Events (2)

1. * Receivership

Newspaper Excerpt: The bonding company now assumed the state's claim against the bank's receiver.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had closed its doors and a receiver was handling claims; state deposit replaced by surety bonds, indicating bank failure leading to suspension/closure.
Newspaper Excerpt: Central Trust company when it closed its doors.
Source: newspapers

Newspaper Articles (1)

1. December 28, 1926 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, December 28, 1926

Click image to open full size in new tab

Article Text

STATE RECOVERS $1,060,667 DEPOSIT PAYMENT OF $192,217 TO THE STATE TREASURER, CLOSES ACCOUNT IN 3 BANKS. FROM BONDING COMPANIES Four Nationally Known Surety Concerns Involved-Treasurer Johnson Had $7,818 In Another Closed Bank. (By The Associated Press.) DES MOINES, Ia., Dec: 28.-State Treasurer R. E. Johnson today recelved the final payment of $192,217.83 due the state as interest and replacement under a surety bond of public money on deposit with the Central Trust company when it closed its doors. The bonding company now assumed the state's claim against the bank's receiver. The payment restores to the state all the $1,060,667 43 on deposit in three Des Moines banks when Treasurer Johnson assumed office, with the exception of $7,818.75 remaining unpaid from the Mechanics Savings bank. The state had $500,000 on deposit with the Iowa Loan and Trust company which closed week ago today, and will be reimbursed under the Lovrien Brookhart bank guaranty law as the replacement funds permits. The bonding companies that paid the state today were the National Surety company. the Fidelity and Casualty company, the Continental Casualty company and the Southern Surety company.