First National Bank - Graettinger, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5571
Charter Number: 5571
Start Date: October 31, 1933
Location: Graettinger, Iowa (43.238, -94.751)

Metadata

Model: gpt-5-mini
Short Digest: 262d630f

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-10-30
Date receivership terminated: 1937-01-30
Share of assets assessed as good: 46.0%
Share of assets assessed as doubtful: 51.8%
Share of assets assessed as worthless: 2.1%

Description

The First National Bank of Graettinger was ordered closed by the Comptroller and a receiver (Edmund/Edmund Carmody) appointed on/around 1933-10-31. Articles state the bank had reopened earlier in spring after the national bank holiday but was closed 'for good' and a receiver named. No explicit run is described; closure was by government order.

Events (4)

1. September 5, 1900 Chartered

Source: historical_nic

2. October 30, 1933 Receivership

Source: historical_nic

3. October 31, 1933 Suspension

Cause: Government Action
Cause Details: Ordered closed by the Comptroller; receiver (Edmund Carmody) appointed and bank did not reopen (closed 'for good').
Newspaper Excerpt: Under the order of comptroller, the First National bank Graettinger, was directed to close its doors Tuesday, October 31st. Edmund Carmody of Cylinder, will receiver.
Source: newspapers

4. November 1, 1933* Other

Newspaper Excerpt: Graettinger's only bank, the First National, which was closed under President proclamation of March and since reopening few weeks later had been operated by ... was closed for good last week Tuesday, when ... Carmody ... was receiver. All deposits made since the bank reopened last spring ... will be returned to the owners. This amounts to some ... about $30,000.
Source: newspapers

Newspaper Articles (2)

1. November 9, 1933 Kossuth County Advance Algona, IA

Article from Kossuth County Advance, November 9, 1933

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Article Text

Whittemore Youth Is Bank Receiver Graettinger's only bank, the First National, which was closed under President proclamation of March and since reopening few weeks later had been operated by was closed for good last week Tuesday, when mund Carmody, assistant cashier of the State bank and son Thos. appointed Carmody, was receiver. All deposits made since the bank reopened last spring and which have. not been checked will be returned to the owners. This amounts to some

2. November 10, 1933 The Humboldt Republican Humboldt, IA

Article from The Humboldt Republican, November 10, 1933

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Article Text

1ST NATIONAL BANK IN RECEIVER'S Under the order of comptroller, the First National bank Graettinger, was directed to close its doors Tuesday, October 31st. Edmund Carmody of Cylinder, will receiver. understood that funds deposited the bank since the national bank holiday called, will be paid full. stated that since the bank opened business last March. approximately deposits had been received and that at the time of closing week ago the amount busiabout $30,000. The closed bank first granted charter 1898. News its closing came surprise to people of the coun-