3358. Peoples National Bank (Waukon, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
10207
Charter Number
10207
Start Date
January 24, 1925
Location
Waukon, Iowa (43.269, -91.476)

Metadata

Model
gpt-5-mini
Short Digest
b03e2a34d8c7d901

Response Measures

None

Receivership Details

Depositor recovery rate
64.4%
Date receivership started
1927-07-19
Date receivership terminated
1934-06-05
OCC cause of failure
Other
Share of assets assessed as good
12.4%
Share of assets assessed as doubtful
59.5%
Share of assets assessed as worthless
28.1%

Description

Newspaper reports show the Peoples National Bank of Waukon was closed by a federal bank examiner in January 1925 for insufficient cash reserves. A later item (Des Moines Register, 1927-07-25) reports the Peoples National Bank 'closed June 28' and that a receiver arrived to take charge, indicating a suspension followed by receivership/closure. No evidence of depositor runs is described in the excerpts. Dates are taken from the newspaper publication context (1925 closure referenced in 1925-01-26 article; 1927 closure referenced as June 28 in the 1927-07-25 article; receiver arrival reported July 1927).

Events (5)

1. June 11, 1912 Chartered
Source
historical_nic
2. January 24, 1925 Suspension
Cause
Government Action
Cause Details
Closed by a federal bank examiner after its cash reserve was found below federal requirements.
Newspaper Excerpt
The Peoples National bank of Waukon was closed late Saturday by federal bank examiner, when was found its cash reserve was below federal requirements.
Source
newspapers
3. June 28, 1927 Suspension
Cause
Government Action
Cause Details
Reported closed (June 28); subsequent reporting indicates regulatory/official closure leading to receiver involvement.
Newspaper Excerpt
Peoples National bank that closed June 28. There are several possibilities for restoration of the bank.
Source
newspapers
4. July 19, 1927 Receivership
Source
historical_nic
5. July 22, 1927 Receivership
Newspaper Excerpt
BANK RECEIVER ARRIVES Waukon Mr. N. W. Irvin arrived Friday to take charge of the Peoples National bank that closed June 28.
Source
newspapers

Newspaper Articles (2)

Article from Iowa City Press-Citizen, January 26, 1925

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Article Text

MURPHY BANKS CLOSED Institutions Founded by ted Waukon Lawyer Without Sufficient Cash Associated Press) WAUKON, Jan. The Peoples National bank of Waukon was closed late Saturday by federal bank examiner, when was found its cash reserve was below federal requirements. A receiver was appointed Saturday for the Bank of Rossville, another Allamakee county bank. was not operating under charter. Both banks were organized by Dennis Murphy, Waukon attorney whose trial on indictments charging embezzlement is scheduled open in district court here tomorrow morning. Two Perry Banks Close PERRY, Ia., Jan. Security Savings Bank closed Its doors here Saturday afternoon. run on the bank followed the closing of the Perry National bank Friday.


Article from The Des Moines Register, July 25, 1927

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Article Text

from EVERY PLAN NEW LIGHTS- county. The south river has Iowa for the straigntened all the way through establishment of electro- the county and hundreds of new lighting on the main farm lands have been relier of Iowa City at claimed. tained necessity by the Iowa City counConsideration of the resolution will be held at meeting of the council on Aug. 12. BANK RECEIVER ARRIVESWaukon Mr. N. W. Irvin rived Friday to take charge of the Peoples National bank that closed June 28. There are several pos sibilities for restoration of the bank. FACES THEFT CHARGEOskaloosa Henderson of this hearing county jail on chicken Henderson was picked up by officers local produce house the act of disposing chicks identified by Mrs. Arthur Stoval as those stolen from her farm lot northwest of here. TEACHER GETS LEAVEIowa City E. Partington has been granted four months leave absence to enter the ice of the Institute of Economics, Washington. He has been assist ant of statistics in the college of commerce University of Iowa since 1922. O. K. LOW CONTRACTPocahontas special election to ratify for electric between the Public Service company. and Pocahontas, carried vote of 12. The Fonda recently approved contract by vote nineto and Pomeroy ratified one by vote of 54 to LIGHTNING HITS saying lightning never strikes in the same place' disputed by the Risney home in was hit times during the which Thursday's storm The first belt entered the house though radio and the second hit the broken aerial and burned hole in the roof. ISSUE 106 LICENSESRock RapidsRegers has issued 106 hunting and since the day when fiscal year for such licenses began. SEND CHILDREN TO HOMEAlta- four small children of Mrs. Addie Williams been sent to Soldiers' Orphans home at by Judge James sitting in juvenile court. The who divorced husband some time admitted in open court that she could not support them. ENSIGN Iowa Forest C. Enwho has been an exchange professor at the University of Bristol, England, while half of absence from his office here yes. terday resume his in the education for the ond term of the summer session It's regular storm! And laugh at little Junior with dozens of freckles on his dirty Nittle has stowed because his aunt is pa and ma to him and he big Junior has win the deck riding old GO TO CAMPCarroll Boy Scouts, under the leadership will Scoutmaster begin the annual camping period today at Three Link three miles south Lake City. The camp period will Harry until Wednesday Merton and Gurney Day Sloux City will assist the scoutin When comes the Yan- master. 100 miles behind the other suffiand BRUISED BY AUTOboat. lacking Miller of water to carry her on. but cient right here this received severe on she and possibly other injuries where the come she was and knocked always has been miniature war on deck, but this the automobile IS mutiny! In addition to the feature picGang shows how STRAIGHTEN Straightening of third July in Oskaloosa celebrate en- south Skunk river through Fourth of July Don't you fellows? county completed those "ornery" little friend day when the Farina girl of news in district Sandard the FOR RELIEFDecorah- treasurer of the Winneshiek Red Cross has made report that this county has collected and sent the Mississippi flood sufferers the total of The first quota $500 and this was raised $1,000. $152.75 AN ACRESioux City Woodbury county farm land sold last year at an average price of an according report compiled by R. Miller. tax commissioner the Chicago & North Western