3514. First National Bank (Iowa Falls, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3252
Charter Number
3252
Start Date
December 21, 1932
Location
Iowa Falls, Iowa (42.522, -93.251)

Metadata

Model
gpt-5-mini
Short Digest
b1fff8e5

Response Measures

None

Receivership Details

Depositor recovery rate
66.7%
Date receivership started
1932-12-27
Date receivership terminated
1936-12-05
Share of assets assessed as good
10.2%
Share of assets assessed as doubtful
81.0%
Share of assets assessed as worthless
8.8%

Description

Newspaper of 1932-12-21 reports First National Bank (Iowa Falls) suspended (with People's Trust & Savings) operating on the waiver plan. A later article (1933-06-04) notes receiver checks and a dividend, indicating the bank entered receivership and did not resume normal operations — thus suspension leading to closure/receivership. No explicit run is described in the articles.

Events (4)

1. September 16, 1884 Chartered
Source
historical_nic
2. December 21, 1932 Suspension
Cause Details
Both local banks suspended and were operating on the waiver (30/60/90) plan; article gives no specific trigger such as rumor or correspondent failure.
Newspaper Excerpt
IOWA FALLS BANKS CLOSE. Iowa Falls, People's Trust & Savings bank and First National bank suspended Wednesday Both operating on the waiver plan.
Source
newspapers
3. December 27, 1932 Receivership
Source
historical_nic
4. June 4, 1933 Receivership
Newspaper Excerpt
IA. FALLS BANK DIVIDEND. First National receiver checks first this week. The Security per making of 25 its first dividend.
Source
newspapers

Newspaper Articles (2)

Article from The Courier, December 21, 1932

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Article Text

SHERIFFS ADVISED OF STATE POLICE DEPARTM'T PLAN Proposal for Co-ordination of All Enforcement Made at Convention. Des E. Cerro Gordo county sheriff. Wednesday presented in detail proposal for co-ordination of Iowa enforcement agencies into partment an address before the Iowa Sheriffs association in annual here. The already being tinized by Gov -elect Clyde Herring for possible inclusion in his prostate reorganization project, and will receive the attention of the Brookings which has been authorized make an study of consolidation for the A score of governmental agencies several departments which carry on the duties of fire marshal, barber and cosmetology inspection, mine inspection, fish and game law enforcement, primary highway dairy and food gas detecand the ordinary criminal cases under the state bureau of investigation all would be under Cress' plan. Financed By Auto Fees. This would financed entirely from $1 year drivers' license which would yield an income nearly All fines, assessments and license collected now by or in the interests of the many state boards comwould turned the state general fund to reduce The Cress by giving the governor power of appointment the new department's place more power in the hands the for law and place at his command state police could adequately as the recent cattle test war and farm strike without threat of national guard would also, he asserted to the give adequate rural and highway policing which the state does not now without extra expense The plan Cress explained his speech. administrated thus The governor appoints and deputy with the approval of the state senate Nonpolitical Personnel. The executive council acts as administrative head of the department in lieu of board of The commissioner responsible for his which is composed 20 patrol thruout the state manned personnel and office force to ecute the following Keep in repair all the state's chanical protect and maintain all state including investigate apprecriminals and bring them to oversee paroled transfer prisoners from county to state institutions: oversee all extraditions operate crime detection laboratory For the criminal work there would be general bureau investigation. For administration of motor vehicle laws inspections would be and a motor vehicle division Wagner, Lovejoy Speak. Doing the state's present spection duties as acting other capacities in life and would be the lying patrols. state work farm would be placed in operation from which would transfer prisoners for 30 days or longer This, said would reduce county office costs. Other speakers the sheriffs meetings Keeler and Seth Wiard of Northwestern university's criminology school: Wagner, Black Hawk county sheriff. Lewis superintendent of the Missouri highway patrol and Frank Warner, secretary of the Iowa Bankers Before the affiliated conference of Iowa attorneys Judge B. Lovejoy the Tenth judicial district and Assistant Attorneys General Neill Garrett, Carl J. Stephens and Earl Wisdom The meetings will be concluded Thursday RECORD "STUFFING." of the largest tasks ever undertaken by Denver taxidermist was recently completed when Kodiak last summer by Capt. Fred E. Lewis, big game hunter of Spadra, Cal., mounted. The animal 10 feet high and more than 1,500 pounds when alive. THEY REMEMBER JIM. Former Mayor Jimmy who since his resignation has been called New York's "forgotten remembered by his Tammany brethren and elected to year term the board of governors of the tional Democratic club. IOWA FALLS BANKS CLOSE. Iowa Falls, People's Trust & Savings bank and First National bank suspended Wednesday Both operating on the waiver plan. They were the only banks here An enclosure in which dile found Italian god. It


Article from The Courier, June 4, 1933

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Article Text

Chance to Recover Given Decorah Man With Broken Back Benny Gulbro, who suffered fracture of he thrown from the when which rolled seat embankment resting and there hope his not attending phy sicians say IA. FALLS BANK DIVIDEND. First National receiver checks first this week. The Security per making of 25 its first dividend.