3361. First National Bank (Webster City, IA)

View Charter #1874 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1874
Charter Number
1874
Start Date
December 8, 1932
Location
Webster City, Iowa (42.469, -93.816)

Metadata

Model
gpt-5-mini
Short Digest
eaeb412d8de990ad

Response Measures

None

Receivership Details

Depositor recovery rate
51.3%
Date receivership started
1932-11-30
Date receivership terminated
1937-12-31
Share of assets assessed as good
10.4%
Share of assets assessed as doubtful
75.2%
Share of assets assessed as worthless
14.4%

Description

The articles describe the First National Bank of Webster City as closed with a receiver appointed and handling asset sales (Dec 1932–Jan 1933), indicating a suspension followed by permanent closure/receivership. No article describes a depositor run prior to suspension. Dates are taken from newspaper publication dates; no explicit run is mentioned.

Events (5)
1. September 8, 1871 Chartered
Source
historical_nic
2. November 30, 1932 Receivership
Source
historical_nic
3. December 8, 1932 Suspension
Cause
Government Action
Cause Details
A receiver was appointed to take charge of the closed First National Bank; suspension appears due to formal receivership/government action.
Newspaper Excerpt
Bank Receiver at Iowa Falls Goes to Webster City ... transferred Webster City take affairs First National bank ... The receiver for here had named Thursday
Source
newspapers
4. January 15, 1933 Receivership
Newspaper Excerpt
WEBSTER CITY, Bailey, receiver of the closed First National bank, has refused to accept the balance of money received from the ... sale. ... only left out of the $106 derived from the sale. Only one bid on articles covered by the chattel mortgage; there more than 500 persons present. (Des Moines Register, 1933-01-15).
Source
newspapers
5. June 6, 1934 Other
Newspaper Excerpt
Estate Authorized To Take Settlement ... authorized the estate of Ludwig Larson to accept $1,100 in settlement of claim against the receiver of the First National bank of Webster City, growing of Larson's accidental death. Larson was killed Apr when was struck by car driven Wenner, an employe of the bank receiver. (Des Moines Tribune, 1934-06-06).
Source
newspapers

Newspaper Articles (3)
1. December 8, 1932 The Courier Waterloo, IA
Article from The Courier, December 8, 1932

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Article Text

Bank Receiver at Iowa Falls Goes to Webster City Iowa ceiver for State National bank for several transferred Webster City take affairs First National bank that Mr. Bailey before Iowa W. Pyle The receiver for here had named Thursday rumored that State National bank will 25 per cent dividend early in

2. January 15, 1933 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, January 15, 1933

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Article Text

Bank Receiver Won't Accept $10 for Chattel Register's WEBSTER CITY, Bailey, receiver of the closed First National bank, has refused to accept the balance of money received from the Tuesday the Bascom Huddlestun farm. After expenses and several liens were satisfied. there was only left out of the $106 derived from the sale. Only one bid on articles covered by the chattel mortgage; there more than 500 persons present.

3. June 6, 1934 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, June 6, 1934

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Article Text

Estate Authorized To Take Settlement FORT DODGE, E. Fry Wednesday authorized the estate of Ludwig Larson to accept $1,100 in settlement of claim against the receiver of the First National bank of Webster City, growing of Larson's accidental death. Larson was killed Apr when was struck by car driven Wenner, an employe of the bank receiver.