3610. First State Savings Bank (McCausland, IA)

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: July 10, 1933
Location: McCausland, Iowa (41.746, -90.443)

Metadata

Model: gpt-5-mini
Short Digest: 185d2d37

Response Measures

None

Description

All articles describe the First State Savings Bank of McCausland as being in receivership (1933–1934) with receiver reports, requests to close the receivership, and final dividend/termination. There is no mention of a depositor run in the texts. The bank was closed and under receiver control, ending in dissolution; therefore classified as a suspension leading to closure (receivership).

Events (6)

1. July 10, 1933 Receivership

Newspaper Excerpt: CHANGE IN BANK RECEIVERS WINS COURT APPROVAL ... First State Savings bank, McCausland, July
Source: newspapers

2. November 12, 1933 Receivership

Newspaper Excerpt: Default judgments in favor of the First State Savings bank, McCausland, receivership
Source: newspapers

3. January 20, 1934 Receivership

Newspaper Excerpt: M'Causland Bank Receiver's Report Approved by Scott ... The fourteenth report of the receivership the First State Savings bank of McCausland was approved today
Source: newspapers

4. May 6, 1934 Receivership

Newspaper Excerpt: Action to terminate the receivership of the First State Savings of McCausland, Ia., by liquidating the remaining assets at public sale was begun ... the receiver states that the assets ... do not justify the expense
Source: newspapers

5. July 20, 1934 Receivership

Newspaper Excerpt: application has been filed in Scott county district court for the ending of the receivership for the First State Savings bank of McCausland, which closed four years ... The fourth and final report for dissolution filed by Bates, receiver
Source: newspapers

6. * Suspension

Cause: Government Action
Cause Details: Bank placed in receivership (state banking superintendent / court-appointed receiver); suspension of normal operations by receiver
Newspaper Excerpt: First State Savings bank, McCausland ... receivership
Source: newspapers

Newspaper Articles (7)

1. July 10, 1933 Quad-City Times Davenport, IA

Article from Quad-City Times, July 10, 1933

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Article Text

CHANGE IN BANK RECEIVERS WINS COURT APPROVAL An interlocutory report ferring the affairs the Bettendorf bank receivership from Andrew, retiring state superintendent of banking, to his successor, Bates, proved today by District Judge Scott. The order directs that Mr. receiver, discharged his bondsmen exonerated. Similiar orders were to be entered in the day the Home Savings bank the American Trust company receivership. Hearing on the Northwest enport bank, the LeClaire Savings bank and the American Trust company receiverships July Union Savings Bank Trust company First State Savings bank, McCausland, July

2. November 12, 1933 Quad-City Times Davenport, IA

Article from Quad-City Times, November 12, 1933

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Article Text

BANK RECEIVER GIVEN JUDGMENT ON NOTE CLAIMS Default judgments in favor of the First State Savings bank, McCausland, receivership, and against Fletcher, Harry Schneckloth and James Fletcher for and costs, and against Ellsworth for have been tered in District Judge court. hearing will held later Fletcher's liability on the Ellsworth H. Paulsen has obtained judg. for $416.80 and costs owing checks against Gelhaar.

3. January 20, 1934 The Daily Times Davenport, IA

Article from The Daily Times, January 20, 1934

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Article Text

M'Causland Bank Receiver's Report Approved by Scott The fourteenth report of the receivership the First State Savings bank of McCausland was approved today by District Judge Scott presented Thuenen Thuenen, Davenport, attorneys for Bates, receiver, and Poffenberger, examiner charge, covering their activities for the period from Sept. 30 to Dec. Cash receipts during this period added to hand Sept. 30, carried the total After of expenses of the receivership, there balance of hand Dec. 31.

4. January 21, 1934 Quad-City Times Davenport, IA

Article from Quad-City Times, January 21, 1934

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Article Text

M'CAUSLAND BANK RECEIVER'S 14TH REPORT APPROVED The report Bates, receiver, and W. Poffenberger, examiner charge, of the First State bank, McCausland, for the period from Sept. 30 Dec. 31, inclusive, Saturday District Judge Scott. report lists receipts of $4,and cash disbursements of $712.37. Cash balance on hand the 13th report was and the hand in the 14th port is The total expense of the receivership of Dec. 31 $9,040.17. The to Dec. 31 The has paid three separate dividends totaling per cent.

5. May 6, 1934 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, May 6, 1934

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Article Text

Where Youth's Body Was Recovered Seek Receivership End for Iowa Bank DAVENPORT. IA.-Action to terminate the receivership of the First State Savings of McCausland, Ia., by liquidating the re- maining assets at public sale was begun in district court here Saturday by the bank receiver. The receiver states that the assets, which have a book value of $22,104.47, do not justify the expense set for May 11.

6. May 6, 1934 Quad-City Times Davenport, IA

Article from Quad-City Times, May 6, 1934

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Article Text

BANK RECEIVER AT M'CAUSLAND ASKS TO CLOSE Court's Authority to Sell Remaining Assets Is Sought. Offering the explanation that con tinuation of the receivership for the First State Savings bank at Mc Causland is unwarranted because of the value of the remaining assets, D. W. Bates receiver, and A. W. Poffenberger, examiner in charge, have petitioned Scott coun ty court for authority to end the receivership. Depositors and other general creditors have already received pay ments totaling 65 per cent of their claims, and the receiver now wants to pay the final dividend. Judge N R. Maines has set May 11 at 10 m as the time for hearing. The remaining assets of the bank have book value of $22, 104.47. the petition sets out, but are declared to be of doubtful real value. Included in the list are bills receivable of $12,952.49: stock as sessment judgments, $2,000; real estate, $100. and other notes and judgments of $7,051.98.

7. July 20, 1934 Quad-City Times Davenport, IA

Article from Quad-City Times, July 20, 1934

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Article Text

BANK Dividends Paid Depositors During Years Total Paying final dividend of $20,application has been filed in Scott county district court for the ending of the receivership for the First State Savings bank of McCausland, which closed four years The fourth and final report for dissolution filed by Bates, receiver, and Poffenberger, charge. The final dividend, which represented deposiclaims brought the total to per cent total of $92,126.68. Hearing the report, the petition approval, discharge of liability and of the poration has been set by Judge Scott for report shows total $22,collected on stock total ledger accounts $63,594.14. The of ceivership given as Thuenen Thuenen were attorfor the receiver.