3517. State National Bank (Iowa Falls, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7521
Charter Number
7521
Start Date
December 8, 1932
Location
Iowa Falls, Iowa (42.522, -93.251)

Metadata

Model
gpt-5-mini
Short Digest
e4aeacb7

Response Measures

None

Receivership Details

Depositor recovery rate
67.2%
Date receivership started
1932-07-07
Date receivership terminated
1936-09-19
Share of assets assessed as good
16.7%
Share of assets assessed as doubtful
65.1%
Share of assets assessed as worthless
18.3%

Description

Newspaper items (Dec 1932–Jun 1933) refer to the State National Bank of Iowa Falls as being in the hands of a receiver and listed as '(receiver)' in RFC loan lists. No article describes a depositor run; the bank was placed in receivership (i.e., closed) and did not reopen in the coverage — classification: suspension leading to closure/receivership. OCR errors in Article 1 (fragmentary) were corrected when extracting the receiver reference.

Events (4)

1. December 20, 1904 Chartered
Source
historical_nic
2. July 7, 1932 Receivership
Source
historical_nic
3. December 8, 1932 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership; payments suspended and receiver named by authorities.
Newspaper Excerpt
receiver for State National bank for several transferred Webster City ... The receiver for here had named Thursday ... rumored that State National bank will 25 per cent dividend
Source
newspapers
4. January 26, 1933 Receivership
Newspaper Excerpt
Iowa Falls, The State National bank of Iowa Falls (receiver). $35,500. (RFC loan listing shows bank designated 'receiver')
Source
newspapers

Newspaper Articles (4)

Article from The Courier, December 8, 1932

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Article Text

Bank Receiver at Iowa Falls Goes to Webster City Iowa ceiver for State National bank for several transferred Webster City take affairs First National bank that Mr. Bailey before Iowa W. Pyle The receiver for here had named Thursday rumored that State National bank will 25 per cent dividend early in


Article from The Muscatine Journal, January 26, 1933

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Article Text

Early Are Announced (Continued From 1.) the First Central Trust company of Ohio, 000: Union Guardian Trust Detroit, and the Union Trust of Railroad Borrowings. Railroads likewise were being told they could borrow $224,147,000. Of this, was allowed the Baltimore and Ohio, and went to the PennOther 000 of amounts down few thousand dollars authorized from coast to coast. Along with this special report, the corporation submitted the monthly statement on its December activities. Loans approved and money allocated in that month totalled This latter analysis that the end the year the corporation assets and cash balance of $7,927,000. December Authorizations. The December loan authorizations or allocations included: $80,for financial institutions and $35,837,000 for state relief. for self-liquidating projects, for facilitating agricultural exports, to the secretary of ag. riculture for loans and advanced to farmers for capital in agricultural credit corporations and subscription to home loan bank stock. The corporation that prevailing low money rates it had, in December. decreased its interest rates onehalf per cent. Iowa Loans in December. R. loans authorized during December to Iowa institutions folBenton County State $17,000. Boone, Security Savings $75,000. Boxholm. Farmers State bank (receiver), $7,000. Carpenter, Carpenter Savings Clinton, City National bank of Clinton, $111,000. Clinton, Clinton Savings bank $150,000. Council Bluffs, State Savings bank, $98,000. Davenport, Union Savings Bank and Trust company Davenport Des Moines, Home Savings bank, $1,000. Farmers Trust and Savings Eldora, Citizens Savings bank $8,000. Exira, Exchange State bank, Gray, Farmers Savings bank Hampton, Franklin State bank, $20,000. Hartwick. The State bank. $11,000. Independence, Commercial State bank (receiver), $40,000. Indianola, The First National bank of Indiacola (receiver), $75.Iowa City, Iowa City Savings bank (receiver), $35,000. Iowa City, Johnson County Sav. ings bank (receiver), $140,000. Iowa Falls, The State National bank of Iowa Falls (receiver). $35,500. Joice, Farmers Trust and Savings bank, $13,000. Keota, Security State $13,000. The First National bank of LeMars, Lohrville Savings bank, $14,000. Lone Tree, Lone Tree Savings bank, Maquoketa, The First National bank of Maquoketa (receiver), Meservey, Farmers Savings bank (receiver), $9,500. Mitchell, Mitchell Savings bank Farmers Trust and Savings bank, $2,500. Oskalooss, The Oskaloosa Na. tional bank (receiver, $142,000. Randolph, Randolph State bank $3,814. Reinbeck, First Savings bank of Reinbeck, $7,000. Sac City, Citizens Savings bank $41,000. Sheffield, The First National


Article from Iowa City Press-Citizen, January 27, 1933

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Article Text

R.F.C.LOANS IN DECEMBER Six Million Granted to Davenport Bank Last Month WASHINGTON -(AP)- Reconstruction finance loans made to Iowa institutions during December Blairstown. Benton County State Boone Security Savings bank Boxholm Farmers State bank Carpenter Carpenter Savings bank. Clinton. City National bank of Clinton, Clinton Savings bank. Council Bluffs State Savings Davenport. Union Savings Bank and Trust company of Davenport. Des Moines. Home Savings bank, Earling Farmers Trust and Sav ings bank. $15,000 Eldora. Citizens Savings bank Exira. Exchange State bank. $15. 500 Gray. Farmers Savings bank $6,000. Hampton. Franklin County State bank. Hartwick. The Hartwick State Independence Commercial State bank (receiver) $40,000. Indianola. The First National bank of Indianola (receiver) $75.000. Iowa City, Iowa City Savings bank (receiver) $35,000. Iowa City, Johnson County Sav ings bank (receiver) $140,000 Iowa Falls, The State National bank of Iowa Falls (receiver) $35,500. Joice, Farmers Trust and Sar ings bank $13,000 Keota. Security State bank $13. 000. Le Mars, The First National bank of Le Mars. $100,000. Lohrville. Lohrville Savings bank $14,000. Lone Tree Lone Tree Savings Maquoketa, The First National bank of Maquoketa (receiver) $84.500 Meservey. Farmers Savings bank (receiver) $9,500. Mitchell. Mitchell Savings bank, Nevada. Farmers Trust and Sav ings bank. $2,500. Oskaloosa. The Oskaloosa NaRandolph Randolph State bank. Reinbeck First Savings bank of Sac City, Citizens Savings bank Sheffield. The First National bank of Sheffield (receiver). $77.- Sheldon Security State bank, $25,000. Sloan, Sloan State bank $32,000. Stanhope, Farmers State bank, West Branch. Citizens Savings bank. $9,000. Winterset. Madison County Sav ings bank. $72,000. Davenport, Register Life Insur Des Moines, Inter-State Businses Men's Accident company $76.000. Des Moines, Iowa National Fire De Witt. Iowa Mutual Insurance Dallas Center. Bankers Livestock Agricultural Credit corporation. Sioux City, Regional Agricultural Credit corporation of Stoux City,


Article from The Daily Nonpareil, June 2, 1933

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Article Text

R. F. C. LISTS LOANS TO IOWA INSTITUTIONS The following loans were authorized by the Reconstruction Finance corporation to Iowa institutions during April, the corporation reported today: Amber Savings bank, Amber, $7,000 (X): Lee County Savings bank, Fort Madison, $35,000 (X); Menlo Savings bank, Menlo, $22, 000; Monticello State bank, Monticello, $120,000 (X): Russell State ers Savings bank, Wever $20,000; Dike Savings bank. Dike, reinstated loan for $25,000 previously cancelled; Guaranty Life Insur- ance company of Davenport, $220,000; Burlington Joint Stock Land bank, Burlington, $425,000 (X); Regional Agricultural corporation Sioux City, $4,368,597; loaned Iowa at governor's application for emergency. relief $515,300 (X); loaned Montezuma, $9.700 (X). (X) Not been disbursed up to May 15. Iowa loans authorized but with drawn or cancelled between July 21, 1932 and March 31. 1933: Clinton Savings bank, Clinton (receiver) $105,000; Iowa City Savings bank, Iowa City (receiver). $35,000: Commercial National Iowa loans withdrawn or cancelled in part, with amount cancelled or withdrawn: United States bank, Dyersville, $5,000; Grinnell State bank, Grinnell, $16,039; State National bank, Iowa Falls (receiver), $22,000; Security Savings bank, McCallsburg, $2,600; Cedar Rapids Life Insurance company, Cedar Rapids, $850; Des Moines Joint Stock Land bank, Des Moines, $1,376; Regional Agricultural Credit corporation, Sioux City, $600.