First National Bank - Farragut, IA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 6700
Charter Number: 6700
Start Date: May 1, 1933
Location: Farragut, Iowa (40.722, -95.481)

Metadata

Model: gpt-5-mini
Short Digest: 3f83dc94

Response Measures

None

Description

Article (dated 1933-05-01) reports the First National Bank at Farragut received a permit to reopen for 100% business and that previously signed 50% waivers have been released. This implies the bank had been operating under a suspension/limited payments prior to reopening. No run is mentioned in the article. I infer the suspension was ended by regulatory permission; classified as government action.

Events (3)

1. March 30, 1903 Chartered

Source: historical_nic

2. May 1, 1933 Reopening

Newspaper Excerpt: The local First National bank received its permit Friday from the department of to open the bank for 100 per cent business. The 50 per cent waivers... are all released and the money amounting to $145,000 becomes eligible for business, the same as new deposits.
Source: newspapers

3. * Suspension

Cause: Government Action
Cause Details: Bank had previously been operating under 50% waivers (partial payments) and required departmental permission to resume full payments; suspension/limited payments appears to have been imposed and overseen by regulators.
Newspaper Excerpt: The 50 per cent waivers signed up by the depositors some months ago are all released
Source: newspapers

Newspaper Articles (1)

1. May 1, 1933 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, May 1, 1933

Click image to open full size in new tab

Article Text

FIRST NATIONAL AT FARRAGUT ALL WAIVERS RELEASED AND DEPOSITORS GET THEIR MONEY. IS ON HAND The local First National bank received its permit Friday from the department of to open the bank for 100 per cent business. The 50 per cent waivers signed up by the depositors some months ago are all released and the money amounting to $145,000 becomes eligible for business, the same as new deposits.