3609. First State Savings Bank (McCausland, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
June 25, 1930
Location
McCausland, Iowa (41.746, -90.443)

Metadata

Model
gpt-5-mini
Short Digest
e3ca2e8a

Response Measures

None

Description

No articles describe depositor runs. The bank is described as having closed and a receiver was appointed; liquidation proceedings and receiver reports/dividends follow. Thus this is a suspension leading to permanent closure/receivership. Dates are drawn from the newspaper publication dates (receiver authority reported 1930-06-25). OCR errors corrected (e.g., 'Causland' -> McCausland; 'func t' -> 'defunct').

Events (8)
1. June 25, 1930 Receivership
Newspaper Excerpt
Court orders ... empower receiver charge the bank, take what action necessary in protect the bank's interests. (appointment of receiver and authority to liquidate reported.)
Source
newspapers
2. June 25, 1930 Suspension
Cause
Government Action
Cause Details
Bank had already closed its doors and court/State Superintendent actions empowered a receiver to liquidate the institution.
Newspaper Excerpt
Court orders essential in connection liquidation of the First State Savings bank, McCausland, which closed doors month ... District Judge Scott ... empower receiver in charge the bank
Source
newspapers
3. October 23, 1930 Other
Newspaper Excerpt
BANK RECEIVER FILES A REPORT ON LIQUIDATION ... Andrew, state superintendent of banking and receiver in charge the defunct First State Savings bank of McCausland, filed second report covering liquidation including Sept. 30.
Source
newspapers
4. December 1, 1930 Other
Newspaper Excerpt
First State Savings bank, McCausland, is paying dividend of 25 per cent this ... M. Baker, receiver in charge, has announced.
Source
newspapers
5. March 6, 1931 Other
Newspaper Excerpt
RECEIVER SUES TO COLLECT PROMISSORY NOTES ... L. Andrew, state superintendent and receiver in charge the defunct First State Savings McCausland, has filed ... alleged owing promissory notes.
Source
newspapers
6. March 8, 1931 Other
Newspaper Excerpt
BOSIER NAMED AS RECEIVER OF M'CAUSLAND BANK ... Appointment of Charles L. Bosier as acting receiver in charge of the defunct First State Savings bank of McCausland, Ia., to succeed M. Baker, was announced.
Source
newspapers
7. September 10, 1931 Other
Newspaper Excerpt
BANK RECEIVER FILES REPORT ... The fifth report of L. Andrew, state superintendent of banking, in charge of the defunct First State Savings bank, McCausland, which operations ago, has been proved by District Judge Maines ... report the payment two dividends of 25 per cent each.
Source
newspapers
8. October 25, 1931 Other
Newspaper Excerpt
ENTER JUDGMENT IN DEFUNCT BANK FORECLOSURE SUIT ... Andrew, state superintendent of banking and receiver in charge of the defunct First State Savings McCausland, obtained judgment ... foreclosure proceedings.
Source
newspapers

Newspaper Articles (10)
1. June 25, 1930 Quad-City Times Davenport, IA
Article from Quad-City Times, June 25, 1930

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Article Text

RECEIVER TO Court Authority Granted For Liquidating of McCausland Institution. Court orders essential in connection liquidation of the First State Savings bank, Causland. which closed doors month signed day by District Judge Scott the in charge pay due prior liens which the holds an pay taxes and to suits collect outstanding accounts due the institution. The orders. presented by Thue nen Thuenen, for the state superintendent banking empower receiver charge the bank, take what action necessary in protect the bank's interests.

2. October 23, 1930 Quad-City Times Davenport, IA
Article from Quad-City Times, October 23, 1930

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Article Text

BANK RECEIVER FILES A REPORT ON LIQUIDATION Andrew, state superintend banking and receiver in charge the defunct First State Savings bank of McCausland, filed second report the covering of liquidating the institution and including Sept. 30 in the district court today The report, listed assets and liabilities $177. approved by Judge Scott. tarred cordage, the passed heated

3. December 1, 1930 Quad-City Times Davenport, IA
Article from Quad-City Times, December 1, 1930

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Article Text

DIVIDEND PAID BY DEFUNCT Receiver Issues Notice of 25 Per Cent Disbursement. McCausland, Ia., Dec. First State Savings bank. McCausland. is paying dividend of 25 per cent this M. Baker, receiver charge, has announced. The checks are ready for distribution and the has requested to call at his office for their checks for the disbursement.

4. December 25, 1930 Globe-Gazette Mason City, IA
Article from Globe-Gazette, December 25, 1930

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Article Text

CLOSED PAY DIVIDEND AS CHRISTMAS GIFT Eight of Iowa Institutions Make Final Payments to Depositors. DES MOINES, Dec. 25. (P)Eight closed Iowa banks have paid the final dividend to depositors as a Christmas gift, L. Andrew, state superintendent of banking, reported today. They are as follows: Parnell Savings bank, $12,944.59; Farmers Savings banks at Troy Mills, $4,721.97; Odebolt Savings bank, $11,789.21; Winthrop State bank, $38,789.21; Ringsted State bank, $51,250.22; Farmers Savings bank at Odebolt, $18,874.14; Farmers State bank at Clutier, $19,321.72; Jesup State bank, $28,853.86. Nineteen other closed banks have paid Christmas dividends as follows: Farmers Savings bank at Bernard, 25 per cent, $36,662.48. Farmers and Traders State bank at Bonaparte, 15 per cent, $51,128.49. First State Savings bank at McCausland, 25 per cent, $29,331.55. Peoples Savings bank at Marengo, 5 per cent, $22,512.66. Malcolm Savings bank, 10 per cent, $19,974.14. Des Moines Commercial Savings bank, 5 per cent, $92,514.70. Security State bank at Promise City, 25 per cent, $45,017.87. County Savings bank at Algona, 10 per cent, $137,669.38. United State bank at Des Moines, 5 per cent, $67,165.18. Floris Savings bank, 30 per cent, Peosta Savings bank, 20 per cent, $12,016.99. Farmers Savings bank at Corwith, 25 per cent, $53,442.13. Gravity State bank, 25 per cent, Peoples State bank at Humboldt, 10 per cent, $43,644.67. Anthon tSate bank, 10 per cent, Citizens State bank at Anthon, 10 per cent, $26,743.92. Farmers State bank at Rockwell,

5. March 6, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, March 6, 1931

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Article Text

RECEIVER SUES TO COLLECT PROMISSORY NOTES Andrew, state superintendent and receiver charge the defunct First State Savings McCausland, has filed district Harry Schneckloth alleged owing promissory notes, and for alleged three promissory notes the Thuenen for the bank receiver.

6. March 8, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, March 8, 1931

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Article Text

BOSIER NAMED AS RECEIVER OF M'CAUSLAND BANK Appointment of Charles L. Bosier as acting receiver in charge of the defunct First State Savings bank of McCausland. Ia., to succeed M. Baker, was announced Saturday by L. Andrew, state superintendent of

7. May 24, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, May 24, 1931

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Article Text

BANK RECEIVER BRINGS SUIT TO COLLECT ON NOTE L. Andrew, state dent of banking and receiver charge the First State bank, McCausland, has filed suit district court against George Holst, Henry Boeh, Sheridan, H. Litscher, George Randolph and Henry Moeller for $4,722.87 alleged owing on note signed and endorsed by the Thuenen and Thuenen for the bank receiver.

8. September 6, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, September 6, 1931

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Article Text

BANK RECEIVER ASKS AUTHORITY TO SETTLE CLAIM Andrew, state superintendent of banking and receiver in charge of the defunct First State Savings bank, McCausland, has titioned the district court for permission accept deed to MeCausland real estate from Guy Swain full settlement of

9. September 10, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, September 10, 1931

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Article Text

BANK RECEIVER FILES REPORT The fifth report of Andrew. state of banking in charge of the funct First State Savings bank, McCausland, which operations ago, has been proved by District Judge Maines. report the payment two dividends in the of 25 per cent each, and includes assets totaling $168,639.54, bills receivable amounting to $71,852.16. Real estate held the institution is valued at $13,757.

10. October 25, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, October 25, 1931

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Article Text

ENTER JUDGMENT IN DEFUNCT BANK FORECLOSURE SUIT Andrew, state superintendent of banking and receiver charge of the defunct First State Savings McCausland, obtained judgment for and costs foreclosure proceed against and Itanna Carber in District Judge W. Maines' court Saturday The court also awarded the receiver separate judgment for $571.21 and costs against Carver, individually Theunen Thuenen are attorneys the receiver. John Purcell, represented the