First National Bank - Grinnell, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1629
Charter Number: 1629
Start Date: January 1, 1893*
Location: Grinnell, Iowa (41.743, -92.722)

Metadata

Model: gpt-5-mini
Short Digest: 7d930100

Response Measures

None

Receivership Details

Depositor recovery rate: 86.0%
Date receivership started: 1904-07-27
Date receivership terminated: 1910-10-31
OCC cause of failure: Fraud
Share of assets assessed as good: 51.6%
Share of assets assessed as doubtful: 5.5%
Share of assets assessed as worthless: 42.9%

Description

Article (1898) references the First National Bank of Grinnell having failed in the panic of 1893 and that a receiver is pursuing supplementary proceedings in 1898. No contemporaneous run is described; the bank failed (receiver appointed) during the 1893 panic—classed as a suspension/closure caused by the national panic (macro event). Court action noted in 1898.

Events (5)

1. January 15, 1866 Chartered

Source: historical_nic

2. January 1, 1893* Suspension

Cause: Macro News
Cause Details: Failed during the nationwide panic of 1893 (financial crisis).
Newspaper Excerpt: the bank, which failed in the panic of 1893.
Source: newspapers

3. July 15, 1898 Other

Newspaper Excerpt: Action was brought against the defendant to recover a judgment of $4000, an assessment he refused to pay as a stockholder in the bank, which failed in the panic of 1893.
Source: newspapers

4. July 15, 1898 Receivership

Newspaper Excerpt: supplementary proceedings in the United States court ... by the receiver of the First National bank of Grinnell, Iowa, ... the court ordered him to assign that claim to the receiver.
Source: newspapers

5. July 27, 1904 Receivership

Source: historical_nic

Newspaper Articles (1)

1. July 15, 1898 The Herald Los Angeles, CA

Click image to open full size in new tab

Article Text

United States Court Notes In the supplementary proceedings in the United States court against J. M. Keihl of Pasadena by the receiver of the First National bank of Grinnell, Iowa, it was ascertained that the defendant had loaned some $3500 to his son-in-law, G. W. Hollister. in Missouri, and the court ordered him to assign that claim to the receiver. Action was brought against the defendant to recover a judgment of $4000, an assessment he refused to pay as a stockholder in the bank, which failed in the panic of 1893. Young Fick, a Chinaman, was arrested in San Diego, charged with unlawfully entering the United States.