First National Bank - Fayette, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9592
Charter Number: 9592
Start Date: February 25, 1928
Location: Fayette, Iowa (42.842, -91.802)

Metadata

Model: gpt-5-mini
Short Digest: 181f7456

Response Measures

None

Description

OCRed article describes a consolidation: a new state-chartered bank opened in Fayette and payment of deposits of the First National bank has been assumed by the new institution. No run is mentioned; this appears to be an intentional conversion/assumption of deposits (consolidation/merger), so the First National effectively closed and its deposits were assumed.

Events (4)

1. November 30, 1909 Chartered

Source: historical_nic

2. February 25, 1928 Other

Newspaper Excerpt: the State ... bank opened for business ... under the charter of state ... the officers and directors of the First bank be with Payment deposits of the First National bank has been assumed by the new institution. (new state bank opened and assumed deposits.)
Source: newspapers

3. February 25, 1928 Suspension

Cause: Voluntary Liquidation
Cause Details: First National's business and deposits were assumed by a newly opened state-chartered bank in Fayette (consolidation/assumption of deposits).
Newspaper Excerpt: Two Banks Consolidated. Fayette, Ia., Feb. ... the State ... bank opened for business ... under the charter of state ... Payment deposits of the First National bank has been assumed by the new institution.
Source: newspapers

4. June 8, 1928 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. February 25, 1928 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, February 25, 1928

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Article Text

WOMEN'S CLUB IS WINNER OF PRESS CONTEST Holstein, Ia., Feb. The judges in the recent contest, press whereby all Federated Women's clubs the Eleventh district were send books their clubs, the first prize the club Holstein and the second prize to the Tourist club Marcus. These books will be placed on exhibition the state meeting Des on March Two Banks Consolidated. Fayette, Ia., Feb. tions in months here today when the State Fayette the Nation. bank opened for business stitution. The bank will do busiuner the charter of state and the officers and rectors the First bank be with Payment deposits of the First National bank has been assumed by the new institution. Bulls Bring Big Prices. Feb. An average of $185 for bulls and for received at the annual the Northwest Iowa Polled Hereford Breeders held LeMars, according figures by Tonsfeldt, president of the association. Buyers were here as away Canada, Minnesota, South Dakota and Kansas. The highest price bull was $520, and for cow, $305. Business Man Divorced. Sac City, Feb. Levora Van Wey, wife of City business man, was granted Judge McCord this from husband, Van trial lasting more than hinged largely question mony. gave the plaintiff alimony of and torney fees were assessed to the fendant. OH Dealers Pick Officers. LeMars, Feb. president the Northwest Co-Operative Oh at convention held here. Crost, Sheldon, elected and Klein, Sibley, The Marcus, Mars, Sergeant Bluffs, Sibley and Waterloo. Will Erect Modern Ofifce. Feb. Among the old being torn here old landmark which has veterinarioffice by Dr. Knoop, erect office building the site. The one time an annex the Richards hotel, built 80s, the annex antedating the hotel by more than decade. Iowa Judge Passes Away. Iowa Ia., Feb. Ralph of the Eighth district court, and former mayor Iowa City, his home here today lowing Judge born Iowa in July, spent his life he was from the Iowa college law, and in 1910 he served mayor of Iowa Secretary Speak. Mapleton, Klippel, Sioux City will be the speaker annual father and son banquet held in the Methodist church basement February The banquet served by the Ladies Aid society. Community Club to Elect. Mapleton, Community club will Officers be elected for year. Hip Broken Sheldon, Mrs. James McCarty fell fractured taken and placed Journal Want Ads the job hurry.