3582. First National Bank (Maquoketa, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
999
Charter Number
999
Start Date
January 26, 1933
Location
Maquoketa, Iowa (42.069, -90.666)

Metadata

Model
gpt-5-mini
Short Digest
5560fd54

Response Measures

None

Receivership Details

Depositor recovery rate
59.4%
Date receivership started
1932-06-28
Date receivership terminated
1937-02-24
Share of assets assessed as good
37.0%
Share of assets assessed as doubtful
61.8%
Share of assets assessed as worthless
1.1%

Description

Contemporary RFC loan lists (Jan 26–27, 1933) list 'The First National Bank of Maquoketa (receiver)', indicating the bank was in receivership. The articles do not describe any depositor run; they report RFC loan authorizations and explicitly mark the bank as a receiver case. Therefore this is a suspension with closure/receivership (no run described).

Events (3)

1. April 11, 1865 Chartered
Source
historical_nic
2. June 28, 1932 Receivership
Source
historical_nic
3. January 26, 1933 Suspension
Cause
Government Action
Cause Details
Bank is listed in contemporary RFC loan lists as being under a receiver; indicates prior suspension/receivership assigned by authorities.
Newspaper Excerpt
Maquoketa, The First National Bank of Maquoketa (receiver) $84,500
Source
newspapers

Newspaper Articles (4)

Article from Quad-City Times, January 26, 1933

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Article Text

Banks Among Borrowers Davenport and Eastern banks have place the list of early loans which was laid before day, and made public for the first time. The list covers only those loans made between Feb. and July 21, 1932, later loans having been made public. The amount of money furnished banks and the amount repaid shown the list, which reveals that $1,931,404 was advanced the Davenport Bank and Trust and repaid in full. This company, repayment was made within 30 days of the opening of the new bank. The full list for Eastern Iowa follows: Total Amounts Disbursed ments ized Principal Anamosa, Anamosa National Bank 90,000 72,000 72,000 Bettendorf, Bettendorf Savings Bank 42,000 42,000 1,220 Brooklyn, Poweshiek County Bank 17,000 13,745 2,800 Brooklyn, Poweshiek County Savings Bank 56,000 52,100 6,045 Buffalo, Buffalo Savings Bank 25,000 25,000 25,000 Burlington, American Savings Bank Trust Co. 240,000 240,000 8,936 Burlington, Burlington Savings Bank 140,000 140,000 10,600 Burlington, Burlington Savings Bank 65,000 65,000 2,070 Burlington, Farmers and Merchants ings Bank 74,000 74,000 Cedar Rapids, American Trust and Savings Bank 168,000 167,800 15,457 Cedar Rapids, Cedar Rapids Savings Bank and Trust 300,000 295,800 28,985 Co. Cedar Rapids, Iowa State Savings Bank 350,000 327,500 19,370 Cedar Rapids, Iowa State Savings Bank 140,000 140,000 6,220 Clinton, City National Bank of Clinton 335,000 311,750 32,002 Davenport, Davenport Bank Trust 2,000,000 1,931,404 1,931,404 repaid the bank opened July 1932) Davenport, American Savings Bank Trust Co. 2,000,000 1,775,634 Davenport, American Trust Co. 125,000 111,450 10,357 Davenport, American Trust Co. 19,000 18,650 826 Davenport, Home Savings Bank 7,384 Davenport, Home Savings Bank 90,000 89,950 2,692 Davenport, Northwest Davenport Savings Bank 300,000 294,100 9,225 Davenport, Union Savings Bank and Trust 1,500,000 Davenport, Union Savings Bank and Trust 1,247,600 385,914 Davenport, Union Savings Bank and Trust 205,274 Davenport, Union Savings Bank and Trust Co. 600,000 600,000 DeWitt, Farmers Citizens Savings Bank 68,000 68,000 2,336 Dubuque, Consolidated National Bank 280,000 200,000 200,000 Fairfield, First National Bank 72,000 68,376 19,809 Fairfield, First National Bank 100,000 96,100 20,060 Fairfield, Iowa Loan Trust Co. 55,000 55,000 1,501 Fairfield, Iowa State Savings Bank 50,000 50,000 1,875 Fairfield, Iowa State Savings Bank 130,000 130,000 200 Iowa City, First National Bank 97,500 17,800 17,800 Maquoketa, Farmers Trust Savings Bank 77,700 77,700 17,442 Maquoketa, First National Bank 26,000 26,000 26,000 Montezuma, Montezuma State Bank 90,000 $9,000 258 Mt. Vernon Vernon Bank Trust Co. 175,000 175,000 Muscatine, First National Bank 115,000 Sigourney, Keokuk Co. State Bank 100,000 80,000 Victor, Farmers Savings Bank 40,000 40,000 6,077 Vinton, Farmers National Bank 100,000 100,000 100,000 State Bank 50,000 48,400 1,700 West Branch, Citizens Savings Bank 38,000 38,000 12,920 Building and Loan Cedar Rapids, Perpetual Savings and Loan 195,000 195,000 144,969 Dubuque Building and Loan Assn. 225,000 225,000 7,948 Illinois Loans. Moline State Trust Savings Bank Rock Island Bank Trust Co. 1,000,000 State Bank of East Moline 114,000 Loans Authorized In Blairstown, Benton County State Bank 17,000 Clinton, City National Bank of Clinton 111,000 Clinton, Clinton Savings Bank 150,000 Davenport, Union Savings Bank and Trust Co. of Davenport 5,917,700 Iowa City, Iowa City Savings Bank (receiver) 35,000 Iowa Johnson County Savings Bank (receiver) 140,000 Keota, Security State Bank 13,000 Lone Tree, Lone Tree Savings Bank 14,000 Maquoketa, The First National Bank of Maquoketa (receiver) 84,500 West Branch, Citizens Bank Savings 9,000 Davenport, Register Life Company 50,000 Iowa Mutual Insurance Company 45,000 Illinois Loans. Rock Island, Rock Island Bank and Trust Co. 500,000


Article from The Daily Times, January 26, 1933

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Article Text

HOUSE RECEIVES FULL REPORT OF LOANS BY R. C. (Continued From Page One) tion had assets of $1,725,000,000 and a cash balance of $7,927,000. December Loans The December loan authorizations allocations included: $80,193,000 financial institutions and railroads, for the state relief, selfliquidating projects, for facilitating agricultural exports, $11,000,000 secretary agriculture for loans advanced farmers, for capital in agricultural credit corporations and an subscription to home loan bank stocks. The that prevailing low money rates had, in creased its rates one-half per cent. This report that total loans for the month were 738 and applications from financial railroads were 756. In November, 584 loans approved financial institutions and railroads filed 576 applications. Iowa Loans During December Loans authorized during December to banks in this section of Iowa follow: Clinton, City National Bank of Clinton, $111,000. Clinton, Clinton Savings bank, $150,000. Davenport, Union Savings Bank & Trust Co. of Davenport, $5,917,700. Iowa City, Iowa City Savings bank, (receiver) $35,000. Iowa City, Johnson County Savings bank, (receiver) $140,000 Keota, Security State bank, Lone Tree, Lone Tree Savings bank, $14,000. Maquoketa, the First National Bank of Maquoketa, (receiver) West Branch, Citizens Savings bank, $9,000.


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,