First National Bank - Melvin, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5616
Charter Number: 5616
Start Date: February 24, 1929
Location: Melvin, Iowa (43.287, -95.609)

Metadata

Model: gpt-5-mini
Short Digest: 61d59d0e

Response Measures

None

Receivership Details

Depositor recovery rate: 95.1%
Date receivership started: 1929-02-12
Date receivership terminated: 1931-10-31
OCC cause of failure: Governance
Share of assets assessed as good: 41.9%
Share of assets assessed as doubtful: 56.3%
Share of assets assessed as worthless: 1.8%

Description

Article (Sioux City Journal, 1929-02-24) states a receiver was appointed for the First National Bank, Melvin. No run or reopening is mentioned in the excerpt; receiver appointment implies the bank was closed and placed in receivership. Date taken from the newspaper publication.

Events (3)

1. November 8, 1900 Chartered

Source: historical_nic

2. February 12, 1929 Receivership

Source: historical_nic

3. February 24, 1929 Receivership

Newspaper Excerpt: Bank Receiver Named. defunct National bank. Sheldon and the Hartley National bank been appointed receiver of the First National bank, Melvin. Mr. Kirkman will continue to handle affairs the Hartley banks, with his headquarters in Sheldon.
Source: newspapers

Newspaper Articles (1)

1. February 24, 1929 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, February 24, 1929

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Article Text

CLUB WORK REACHES THOUSANDS IN IOWA of girls and during 1928 through various projects work according by assistant State leader. or the 17 offered club home mishing led enrollment live stock baby enrollment of and smallest rollment project that beef heifer club, had only members. During the years that the clubs been conducted the estimated no less than that the number probably are contact their training men time the and refuses to leave. He hardly ever leaves the jail and when brought into the courthouse recently showed much fright that he the jail. BAKERIES PRODUCED $24,359,727 IN GOODS Washington, Feb. commercial bakeries produced worth of during 1927, the department of commerce state ranked in the such establocated in 15th the value of the products they The commercial bakeries throughout the country 1937 produced worth goods. New York had the largest number such which products valued ond with producing and Illinois third 1,990 producing $131,034,733. of SPIT OFFICERS OF YEOMAN LODGE IS BEGUN Des of five of ficers of the Brotherhood of Amerbegan federal dis. court this WalHaley, Minnesota, Morgan Duke, Texas, the attempting to disrupt the representative form of lodge's government They permanent injunction restraining the ofifcers from undue interference, and from charters of lodges throughout the country. Two Coeds Escape Flames. Humboldt, Feb. 23.-Special Miss Irene daughter John Cunningham, former county attorney here, was one of the of Minnesota coeds forced to leave the Stanford hall annex when fire partially de. stroyed the building. Another Iowa student the same building Johnson, Ida Grove, Onawa Debaters Losers. high school debaters in debate Abraham Lincoln school. Council bluffs, held here. decision to nothing. The question debated whether the United should armed force American capital ested in Closed Bank's Assets Sold. order of the district court sold the house the company pur chased the entire assets The closed 1924. vidends have been paid. Two Buy Boyden Garage. Sheldon, Feb. Cutsinger and William Jaskulke, Sheldon, purchased the Perl garage in Boyden and take once. Mr. has been the head mechanic in the Bray garage in Sheldon years. and Mr. Cutsinger is tired Bank Receiver Named. defunct National bank. Sheldon and the Hartley National bank been appointed receiver of the First National bank, Melvin. Mr. Kirkman will continue to handle affairs the Hartley banks, with his headquarters in Sheldon. Carroll Garafe Man Dies. Phil Neu. 47, died his home Carroll this of acute He had been week. Mr. Neu born and raised Carroll, and in the garage business He member the Elks lodge. survived by widow daughter. Babe Has Sleeping Sickness. Feb. The child of Mr. and Mrs. Onnen, who live north of Manson, has been sick three weeks with sleeping sickness. The baby first had the will rouse faty minutes at time and then go off sleep again.