First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5517
Charter Number: 5517
Start Date: January 1, 1931*
Location: Lenox, Iowa (40.882, -94.562)

Metadata

Model: gpt-5-mini
Short Digest: 18a1b765

Response Measures

None

Description

Article (Lenox Time Table, 1931-01-08) reports the closing of the First National Bank and states it would not re-open. There is mention of currency shipped from Des Moines and guards on duty, but no clear report of a depositor run; few depositors withdrew funds. No explicit cause for the suspension/closure is given in the text, so cause is classified as 'other/unknown.'

Events (3)

1. July 26, 1900 Chartered

Source: historical_nic

2. January 1, 1931* Suspension

Cause Details: Article does not state a specific cause for the closing/suspension; only notes the bank closed and would not re-open. No mention of rumors, runs, or government action.
Newspaper Excerpt: When became apparent that the bank would not re-open, the First National Bank had large shipment of currency sent here from Des Moines to take care of any depositors who might their money.
Source: newspapers

3. April 30, 1934 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. January 8, 1931 Lenox Time Table Lenox, IA

Article from Lenox Time Table, January 8, 1931

Click image to open full size in new tab

Article Text

the We cannot help but feel proud of the spirit of the community during the trying days that immediately follow the closing of bank. There has been little excitement and while lot talking is being done, most of is of the good humored variety. Of course, lot of wild stories are being circulated but most of the citizens are taking the jolt with a grin. With the closing of the bank lot of folks are digging down into the old sock or the tomato can that was hid away in dark corner and are beginning to bring forth money of an ancient vintage. We have seen several of the old size dollar bills. They look as big as a bed sheet and are about as awkward to hanthey won't buy bit more than small bill of the same denomination. At the Iowa Southern office they showed us envelope full of pennies that had been brought in to pay light bill. One advertiser paid us last week with century bank note. was the first time had ever taken in one for payment of bill and looked real nice in collection of ones and fives. bill that size bears the picture of Benjamin Franklin. Ben was an editor and printer back his day and are glad to that he doing well. Come in again, Ben, we will be very happy to see you any time. At the risk of making this column sound like financial column we cannot help telling more story that has to do with the filthy lucre. When became apparent that the bank would not re-open, the First National Bank had large shipment of currency sent here from Des Moines to take care of any depositors who might their money. Very few depositors withdrew their money and most of them have brought back by now, but since the monwas here the bank looked like an arsenal than financial guards have been on duty day and night and they were blood looking bunch. In fact, the bank janitor thought it wise telephone the bank at six o'clock in the morning to warn the guards that he was coming down to fix the fire rather than to try to unlock the door and in unannounced.