Merchants National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6880
Charter Number: 6880
Start Date: December 31, 1930
Location: Greene, Iowa (42.896, -92.802)

Metadata

Model: gpt-5-mini
Short Digest: 5f866ae4

Response Measures

None

Receivership Details

Depositor recovery rate: 22.1%
Date receivership started: 1927-06-04
Date receivership terminated: 1931-12-01
OCC cause of failure: Governance
Share of assets assessed as good: 17.0%
Share of assets assessed as doubtful: 47.9%
Share of assets assessed as worthless: 35.1%

Description

Article (Des Moines Tribune, 1930-12-31) mentions a receiver being put in charge of the Merchants National Bank of Greene. No mention of an antecedent run or reopening; indicates closure with receiver appointed.

Events (3)

1. July 14, 1903 Chartered

Source: historical_nic

2. June 4, 1927 Receivership

Source: historical_nic

3. December 31, 1930 Receivership

Newspaper Excerpt: the receiver of the First National is in charge of the Merchants National bank of Greene
Source: newspapers

Newspaper Articles (1)

1. December 31, 1930 Des Moines Tribune Des Moines, IA

Article from Des Moines Tribune, December 31, 1930

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Article Text

AUSTRALIA GREETS S. 15 HOURS EARLY SCHENECTADY New on flashed into this country from Australia hours ahead of Broadcast from tralla to the people United received time) Wednesday Melbourne was welcoming year The BANK RECEIVER NAMED. changed in direct radio between short cation of Mason City succeeded by the receiver of the First Na- Australasia Ltd and Cuttell as G. Ulve of Clear W2XAF of the General Electric tional is in charge of the Merchants National bank of Greene highway is being blasted through bluffs in Du. buque county. taken at scene of the project are contained in the section The Des Moines Sunday Register next Sunday.