First National Bank - Malvern, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2247
Charter Number: 2247
Start Date: February 19, 1927
Location: Malvern, Iowa (41.003, -95.585)

Metadata

Model: gpt-5-mini
Short Digest: 6ff98ede

Response Measures

None

Receivership Details

Depositor recovery rate: 73.8%
Date receivership started: 1926-12-10
Date receivership terminated: 1935-03-21
OCC cause of failure: Governance
Share of assets assessed as good: 35.9%
Share of assets assessed as doubtful: 32.4%
Share of assets assessed as worthless: 31.7%

Description

Articles indicate the First National Bank of Malvern was closed and a receiver appointed (receiver W. R. Payne). A receiver's deed sale appears in Feb 1930 records, implying the bank remained closed and in receivership. No article describes a depositor run; closure appears to be via receivership.

Events (5)

1. April 10, 1875 Chartered

Source: historical_nic

2. December 10, 1926 Receivership

Source: historical_nic

3. February 19, 1927 Receivership

Newspaper Excerpt: W. R. Payne, receiver, started suit in federal court to obtain writ of attachment ... The bank was closed by the ... Receiver of Malvern Bank Would Attach Omahan's Lots.
Source: newspapers

4. February 19, 1927 Suspension

Cause: Government Action
Cause Details: Bank was closed and a federal receiver (W. R. Payne) appointed; suit by receiver to attach stockholder's property.
Newspaper Excerpt: Alleging that W. C. Wortz ... has failed to pay a six thousand dollar assessment ... W. R. Payne, receiver, started suit in federal court ... The bank was closed by the
Source: newspapers

5. February 1, 1930* Other

Newspaper Excerpt: First Natl. Bank, by Receiver to A. P. Kilmartin, (Receiver's Deed) $2250. Lots 235, 236, Strahan's Add., Malvern.
Source: newspapers

Newspaper Articles (2)

1. February 19, 1927 Omaha World-Herald Omaha, NE

Article from Omaha World-Herald, February 19, 1927

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Article Text

SUE BANK STOCKHOLDER Receiver of Malvern Bank Would Attach Omahan's Lots. Alleging that W. C. Wortz, 3817 Farnam street, has failed to pay a six thousand dollar assessment, made against sixty shares of stock he owns in the First National bank of Malvern, Ia., W. R. Payne, receiver, started suit in federal court to obtain writ of attachment on two lots Mr. Wortz owns in MalVern. The bank was closed by the

2. April 3, 1930 The Malvern Leader Malvern, IA

Article from The Malvern Leader, April 3, 1930

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Article Text

Real Estate Transfers Record of Instruments filed in the offices of the Recorder and Clerk of the District Court of Mills county, Towa. from Feb. 1930, at to Feb. 1930 at Emma Barnes to Jones, (W. D.) $600. Lot Blk. 62, Glenwood. Emma Barnes to Wheeler, $600. Lot Blk. 62, Glenwood. Glen C. Moomaw to R. Cardwell, (W. D.) $2818. Lot Blk. 26, Malvern. First Natl. Bank, by Receiver to A. P. Kilmartin, (Receiver's Deed) $2250. Lots 235, 236, Strahan's Add., Malvern. Margaret D. Glbson to Frank W. Swoboda, (W. D.) $3500. Pt. Lots 209 to 213, Strahan's Add., Malvern. Kilmartin to Louise M. Kilmartin, (Q. $1. Lots 235 and 236, Strahan's Add., Malvern. D. French to G. C. Wilson, Lot Bolleau's Add., Henderson. A. Robinson to Blanche R. Kuhl, (Q. D.) $1 V. 38 2-5 acres in Sec. 36-72-44. S. Davis, Referee, to Blanche R. Kuhl, (Ref. Deed) $2900. 38 acres in Sec. 36-72-44.