State Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: February 27, 1927
Location: Logan, Iowa (41.643, -95.789)

Metadata

Model: gpt-5-mini
Short Digest: e2ff285d

Response Measures

None

Description

Article (Omaha Bee, 1927-02-27) reports that Peters Trust Company, acting receivers of the State Savings Bank of Logan, filed suit seeking an accounting and alleges the bank became insolvent. No mention of a depositor run; receivership indicates permanent closure.

Events (2)

1. February 27, 1927 Receivership

Newspaper Excerpt: Peters Trust company, acting receivers of the State Savings bank of Logan, filed United States district court Saturday... The trust company claims delivered the money to the bank Logan, and short time later the bank became insolvent.
Source: newspapers

2. February 27, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Petition alleges bank became insolvent after receiving funds; promissory notes past due and bank bankrupt.
Newspaper Excerpt: Acting Receivers for Logan State Savings Bank Asks for Accounting.
Source: newspapers

Newspaper Articles (1)

1. February 27, 1927 The Omaha Morning Bee, The Omaha Daily News Omaha, NE

Article from The Omaha Morning Bee, The Omaha Daily News, February 27, 1927

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Article Text

SHUBERT ESTATE Peters Trust Sues WILLED TO WIFE for Loan to Bank Leander Shubert Council Bluffs court bailiff and former alderman, who died recently, left his entire estate. including property and securities, his Lizzie Shubert, cording his filed Saturday in district court. drawn June 1917 with John Oliver, assistant chief, and Clarence Hough Probating of the instrument for March on petition Harold who been playing the lead "Abie's Irish' Rose' on Broadway, New York. Acting Receivers for Logan State Savings Bank Asks for Accounting. Suit to collect from Charles E. Kennedy, Effie Lizzie Flora Scott, the Continental Commercial National bank of Chicago, State Savings bank of Logan, Iowa state superintendent banking, was filed United States district court Saturday by the Peters Trust company, acting receivers of the State Savings bank of Logan. The petition alleges that this sum due the Trust company promissory note. In' its suit, the Peters Trust company ask an accounting given the court and that ceiver appointed. The trust company claims delivered the money to the bank Logan, and short time later the bank became insolvent. They now allege the are past due. The defendants their. answer. also filed Saturday, that the suit be dismissed on grounds that they did receive the money from the bank, because became bankrupt.