First National Bank - Griswold, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3048
Charter Number: 3048
Start Date: January 1, 1893*
Location: Griswold, Iowa (41.235, -95.137)

Metadata

Model: gpt-5-mini
Short Digest: b47fe924

Response Measures

None

Receivership Details

Depositor recovery rate: 82.0%
Date receivership started: 1897-02-17
Date receivership terminated: 1903-09-30
OCC cause of failure: Excessive lending
Share of assets assessed as good: 6.8%
Share of assets assessed as doubtful: 57.8%
Share of assets assessed as worthless: 35.4%

Description

Article (1898) reports that First National Bank of Griswold failed during the year of the panic and Comptroller Eckels appointed a receiver (Ira F. Hendricks). No run is described in the provided text. The panic reference implies the Panic of 1893, so I date the failure/suspension to 1893 (day/month unknown).

Events (4)

1. September 15, 1883 Chartered

Source: historical_nic

2. January 1, 1893* Receivership

Newspaper Excerpt: Comptroller Eckels took charge of the concern, and appointed Ira F. Hendricks receiver.
Source: newspapers

3. January 1, 1893* Suspension

Cause: Macro News
Cause Details: Bank failed during the year of the panic (likely the Panic of 1893), leading to Comptroller intervention and suspension/closure.
Newspaper Excerpt: the bank failed in the year of the panic. Comptroller Eckels took charge of the concern, and appointed Ira F. Hendricks receiver.
Source: newspapers

4. February 17, 1897 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 8, 1898 The Herald Los Angeles, CA

Article from The Herald, January 8, 1898

Click image to open full size in new tab

Article Text

# Found For the Receiver In the circuit court yesterday in the case of Ira F. Hendricks, receiver First National bank, of Griswold, Iowa, vs. J. M. Kiehl, a judgment of $4000 was ordered to the plaintiff. It will be remembered that Mr. Kiehl, who now lives in Pasadena, was a stockholder in the bank when it failed in the year of the panic. Comptroller Eckels took charge of the concern, and appointed Ira F. Hendricks receiver. It became evident that the stockholders must be assessed to make up a large deficiency, and Mr. Kiehl was called upon to pay into the receiver's hands the sum of $4000. This he objected to doing, and was sued in the circuit court yesterday. Judge Ross handed down a decision in favor of the receiver.