Iowa National Bank - Des Moines, IA

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2307
Charter Number: 2307
Start Date: December 20, 1926
Location: Des Moines, Iowa (41.601, -93.609)

Metadata

Model: gpt-5-mini
Short Digest: 4cbffd78

Response Measures

Accommodated withdrawals

Other: State banking officials were in charge of the failed Iowa Loan and Trust company (not the Iowa National).

Description

Article (Fremont Tribune 1926-12-21) describes a heavy run on Des Moines banks after the closing of the Iowa Loan and Trust Company. The Iowa National Bank experienced heavy withdrawals but there is no statement that it suspended payments or closed — only that it held the doors until after p. [yesterday] to allow any depositor (i.e., managed withdrawals). Cause attributed to distress of another local bank (Iowa Loan and Trust Co.).

Events (2)

1. October 26, 1875 Chartered

Source: historical_nic

2. December 20, 1926 Run

Cause: Local Banks
Cause Details: Run triggered by the closing of the Iowa Loan and Trust Company, which caused unrest and heavy withdrawals at other Des Moines banks.
Measures: Held the doors until after p.m. yesterday to allow any depositor (managed access/controlled withdrawals)
Newspaper Excerpt: Starts Heavy Run on Other Des Moines Banks ... depositors continued run on other banks until late yesterday afternoon. The Iowa National bank with deposits of more than $22,000,000 held the doors until after p. yesterday to allow any depositor
Source: newspapers

Newspaper Articles (1)

1. December 21, 1926 Fremont Tribune Fremont, NE

Article from Fremont Tribune, December 21, 1926

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Article Text

CLOSING OF IOWA BANKING FIRM IS CAUSE OF UNREST Starts Heavy Run on Other Des Moines Banks DES MOINES, Dec. had somewhat subsided today following the closing yesterday of the Iowa Loan and Trust company one of the oldest banking of the Mississippi river. Despite that there no cause for alarm with regard to deposits in other Des Moines banks depositors continued run on other banks until late yesterday afternoon. The Iowa National bank with deposits of more than $22,000,000 held the doors until after p. yesterday to allow any depositor State banking officials were in charge of the closed Iowa Loan and Trust bank and bankers and business were today continuing efforts to complete an Immedlate No announcement was available state bank officials said until complete checkup of the bank's affairs be Frozen assets in the of widely scattered real estate loans caused the bank to fall Efforts of bankers and business men to save the were blocked when was revealed that the bank had guaranteed more than In mortgages sold to eastern companies and was liable for these is-addi. tion to deposits of approximately