First National Bank - Estherville, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 4700
Charter Number: 4700
Start Date: August 9, 1929
Location: Estherville, Iowa (43.402, -94.833)

Metadata

Model: gpt-5-mini
Short Digest: b7c8e769

Response Measures

None

Receivership Details

Depositor recovery rate: 46.2%
Date receivership started: 1926-02-27
Date receivership terminated: 1932-09-23
OCC cause of failure: Economic conditions
Share of assets assessed as good: 47.0%
Share of assets assessed as doubtful: 44.9%
Share of assets assessed as worthless: 8.1%

Description

Article (Globe-Gazette, 1929-08-09) states First National at Armstrong is 'defunct' and placed in receivership; no mention of a prior run or temporary suspension in the provided text. Classified as suspension_closure (permanent closure with receiver).

Events (3)

1. March 2, 1892 Chartered

Source: historical_nic

2. February 27, 1926 Receivership

Source: historical_nic

3. August 9, 1929 Receivership

Newspaper Excerpt: In addition to the First National bank here Mr. Obrecht will also have charge of the defunct First National at Armstrong, making five banks in his receivership.
Source: newspapers

Newspaper Articles (1)

1. August 9, 1929 Globe-Gazette Mason City, IA

Article from Globe-Gazette, August 9, 1929

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Article Text

Bank Receiver Leaves Federal Department SWEA CITY, Aug. 9.-Receiver Frank Bois of the First National bank. has severed his connections with the federal banking department and has accepted an engagement with the Bank of Detroit. Mich. He will be succeeded here by C. J. Obrecht, receiver of the defunct national banks of Spirit Lake, Milford and Estherville. In addition to the First National bank here Mr. Obrecht will also have charge of the defunct First National at Armstrong. making five banks in his receivership. Mr. Bois will become credit man-