Mills County National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1862
Charter Number: 1862
Start Date: December 7, 1934
Location: Glenwood, Iowa (41.047, -95.743)

Metadata

Model: gpt-5-mini
Short Digest: 8490213a

Response Measures

None

Receivership Details

Depositor recovery rate: 64.9%
Date receivership started: 1932-12-27
Date receivership terminated: 1937-07-22
Share of assets assessed as good: 28.3%
Share of assets assessed as doubtful: 54.7%
Share of assets assessed as worthless: 17.0%

Description

Article (Dec 7, 1934) states the Mills County National Bank in Glenwood is closed and in liquidation with a receiver (Cozad) who resigned to take an insurance post; no run is mentioned. Categorized as a suspension leading to permanent closure with receiver/liquidation.

Events (3)

1. August 16, 1871 Chartered

Source: historical_nic

2. December 27, 1932 Receivership

Source: historical_nic

3. December 7, 1934 Receivership

Newspaper Excerpt: Cozad, who been in active charge of the closed Mills County National bank here for the past year and half, has resigned ... has been placed active charge of the liquidation of the remaining assets.
Source: newspapers

Newspaper Articles (1)

1. December 7, 1934 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, December 7, 1934

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Article Text

GLENWOOD BANK RECEIVER TAKES INSURANCE POST Special to The Nonpareil. GLENWOOD, Dec. Cozad, who been in active charge of the closed Mills County National bank here for the past year and half, has resigned to accept a position with the Equitable Life Insurance company of lowa. He been placed the Cedar Rapids office and left Tuesday to take up his new duties. B. Gillespie, who has assistin the work the the bank and has been in Glenwood at various intervals during the past two years. has been placed active charge of the liquidation of the remaining assets. Mr. Gillespie will be in the bank on Mondays, Wednesdays and Saturdays of each week.