Waterloo Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust
Start Date: January 1, 1925*
Location: Waterloo, Iowa (42.493, -92.343)

Metadata

Model: gpt-5-mini
Short Digest: b8c9bf69dd9b4e57

Response Measures

None

Description

Article (Nov 19, 1926) describes the Waterloo Bank & Trust Co. as being in receivership, having closed in Jan 1925. No run is mentioned; a receiver has been managing assets and recently paid a 25% dividend to depositors. Thus the bank suspended and remained closed with a receiver.

Events (3)

1. January 1, 1925* Receivership

Newspaper Excerpt: the receiver of the Waterloo Bank & Trust Co., declared dividend of 25 per cent to all depositors and checks were mailed two weeks ago.
Source: newspapers

2. January 1, 1925* Suspension

Cause: Government Action
Cause Details: Bank closed January 1925 and placed in receivership (examiner Bert McCulloch in charge).
Newspaper Excerpt: the Waterloo Bank & Trust Co ... the bank closed Jan 1925.
Source: newspapers

3. November 19, 1926 Other

Newspaper Excerpt: Recently the receiver of the Waterloo Bank & Trust Co., declared dividend of 25 per cent to all depositors and checks were mailed two weeks ago. Lands in Four Counties Are Paying Their Way While Values Rise.
Source: newspapers

Newspaper Articles (1)

1. November 19, 1926 The Courier Waterloo, IA

Article from The Courier, November 19, 1926

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Article Text

BANK RECEIVER FARMS 2,800 A. FOR DEPOSITORS Lands in Four Counties Are Paying Their Way While Values Rise. Among the assets of the receiver the Waterloo Bank & Trust Co. are 2,000 acres of farm lands in Iowa. The examiner in charge. Bert McCulloch Humeston, Ia., said today practically every acre is be ing farmed and the land is paying its way while values have a tendency to rise. These lands are represented chiefly by farms of 80 and 160 acres. One contains 1,000 acres. They are located in Black Hawk, Story. Howard and Floyd counties. the bulk of them being in Black Hawk. The land is being operated cash rent The land was taken over by the bank when borrowers failed to pay loans, most which were gotiated at the peak of land values. Maintain Fertility. "We are keeping the buildings insured and in fair shape and are maintaining the fertility of the soil by furnishing tenants clover seed,' McCulloch said. The Hudson Savings bank receivership. of which McCulloch also is examiner in charge, owns 800 acres of farm lands, all but one farm of which are located in Black Hawk 'Rentals from real estate in session of the of the Waterloo Bank & Trust Co amount to nice sum in the course of year." McCulloch continued. "Of course we want to sell this land, but will not do so sacrifice. we should sell at sacrifice, would establish harmful precedent for values of other lands in the vicinity and harm agriculture general. Earning Capacity Large. "The earning capacity of the receivership has been big, but the losses heavy. There has been collected $65,000 in interest rentals and other earnings since the bank closed Jan 1925. Recently the receiver of the Wa terloo Bank & Trust Co., declared dividend of 25 per cent to all depositors and checks were mailed two weeks ago. Future dividends will depend upon quickly and for how much the balance of the assets can be converted into money. McCulluch has been banker all his adult life and for five years past has been with the state bank ing department. He owns farm lands In Wayne county, where Humeston is situated.