First Trust & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: July 21, 1932
Location: Eldora, Iowa (42.361, -93.100)

Metadata

Model: gpt-5-mini
Short Digest: b9b16616

Response Measures

None

Description

Article (Feb 9, 1933) describes the First Trust & Savings Bank of Eldora as now in process of liquidation with a receiver (Porter) and prior closing on July 21. No run is mentioned. This is a suspension that resulted in closure/receivership; dividends are being paid to depositors during liquidation.

Events (2)

1. July 21, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed July 21 and subsequently placed in liquidation with a receiver (Porter).
Newspaper Excerpt: since the closed July 21.
Source: newspapers

2. February 9, 1933 Receivership

Newspaper Excerpt: Payment of the second dividend by First Trust & Savings bank of Eldora, now in process of liquidation, will be announced immediately following the issuance of checks for 35 per cent dividend by the First National bank, attorneys for Porter, receiver of the trust bank, announce.
Source: newspapers

Newspaper Articles (1)

1. February 9, 1933 The Courier Waterloo, IA

Article from The Courier, February 9, 1933

Click image to open full size in new tab

Article Text

Banks at Eldora to Pay Dividends Special Service) Eldora, Ia.-Payment of the second dividend by First Trust & Savings bank of Eldora, now in process of liquidation, will be announced immediately following the issuance of checks for 35 per cent dividend by the First National bank, attorneys for Porter. receiver of the trust bank, announce. The payment will release at least $15,000 to depositors in that institution and is possible that the dividend may be greater than 10 per cent. first dividend of 20 per cent was paid early in by the Trust bank at that time releasing nearly $33,000. Payment of two dividends will bring total to local depositors the two banks to approximately $170,000. since the closed July 21.