First National Bank - Hedrick, IA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5540
Charter Number: 5540
Start Date: February 13, 1925
Location: Hedrick, Iowa (41.173, -92.309)

Metadata

Model: gpt-5-mini
Short Digest: b9c5a38a

Response Measures

None

Receivership Details

Depositor recovery rate: 0.6%
Date receivership started: 1925-04-24
Date receivership terminated: 1933-05-22
OCC cause of failure: Losses
Share of assets assessed as good: 2.1%
Share of assets assessed as doubtful: 48.1%
Share of assets assessed as worthless: 49.8%

Description

Newspaper headline reports the First National Bank of Hedrick fails to open and was closed temporarily. The short snippet does not mention a run, receivership, or permanent closure; therefore classified as a suspension with temporary closure (assumed reopening possible). Cause not stated in the article excerpt.

Events (3)

1. August 16, 1900 Chartered

Source: historical_nic

2. February 13, 1925 Suspension

Cause Details: Article excerpt gives no reason for the bank's failure to open; simply reports temporary closure.
Newspaper Excerpt: HEDRICK BANK FAILS TO OPEN First National Bank of Hedrick and the Hedrick Savings Bank. their doors this morning. It announced that the bank- are clo ed temporarily and a sign on the door
Source: newspapers

3. April 24, 1925 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 13, 1925 Iowa City Press-Citizen Iowa City, IA

Article from Iowa City Press-Citizen, February 13, 1925

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Article Text

HEDRICK BANK FAILS TO OPEN First National Bank of Hedrick and the Hedrick Savings Bank. their doors this morning. It announced that the bank- are clo ed temporarily and a sign on the door 30 states GAS PRICES JUMP DES MOINES-Gasoline prices in Des Moines and most cities per gallon. The price in