Milford National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9298
Charter Number: 9298
Start Date: March 1, 1921*
Location: Milford, Iowa (43.325, -95.150)

Metadata

Model: gpt-5-mini
Short Digest: e7d28338

Response Measures

None

Receivership Details

Depositor recovery rate: 55.4%
Date receivership started: 1931-05-11
Date receivership terminated: 1936-03-27
Share of assets assessed as good: 22.8%
Share of assets assessed as doubtful: 77.1%
Share of assets assessed as worthless: 0.0%

Description

The Des Moines Register list includes 'Emmetsburg National March 1921' among national banks closed. No article text describes a run; bank is listed as closed in 1921 and there is no indication of reopening, so classify as suspension/closure (permanent). Cause is not specified in the article.

Events (4)

1. December 28, 1908 Chartered

Source: historical_nic

2. March 1, 1921* Receivership

Newspaper Excerpt: The national list of banks closed ... Emmetsburg National March 1921 Emmetsburg
Source: newspapers

3. March 1, 1921* Suspension

Cause Details: Listed among national banks closed in March 1921; article gives no specific cause.
Newspaper Excerpt: NATIONAL BANKS. Emmetsburg National March 1921 Emmetsburg
Source: newspapers

4. May 11, 1931 Receivership

Source: historical_nic

Newspaper Articles (1)

1. July 31, 1927 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, July 31, 1927

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Article Text

Bank Situation Improves CLOSED IOWA BANKS NOT IN TABLE to 1923. bank failures were rare and when a state supervised bank occasionally suspended business receiver for it was appointed by district court. as receivers are still appointed for private and national banks. No systematic records were kept by any state official, such as are now kept, for banks which failed prior to 1923. hence the information about the state supervised banks listed here is not readily available as for the banks closed after 1922. For the same reason information concerning closed and private banks was not available for the table. The national list of banks closed but not in the table, from 1918 to June 30, 1922, as follows: far been held at a net cost of receiver confident that this loss more than offset by receipts from sales properties advantageous times and the report states that had not the advances been made the assets would have been lost 1918. STATE BANKS. Name of bank. Capital. Date closed. Town. Conway Savings 20,000 May, 191: Conway PRIVATE Cedar Cedar Bank 10,000 Dec., 1918 YEAR ENDING JUNE 30, 1920. STATE BANKS. Carroll Carroll T. 50,000 Apr. 1919 Decatur Decatur State Savings 25,000 May 1919 Hartley Iowa Savings 30,000 June 27, YEAR ENDING JUNE 30, 1921. STATE BANKS. Citizens Savings 50,000 May 13, 1921 Anita Braddyville Farmers Savings 25,000 Nov. 5, 1920 Clarinda Clarinda T. 75,000 Dec. 1920 bElliott Elliott Savings 25,000 June 1921 Farmers Savings 15,000 Mar. 1921 Harper Marathon Marathon Savings 40,000 April 1921 Onawa Citizens State 30,000 April 1921 Rome Rome Savings 12,500 Mar. 23. 1921 Sioux City Union T. 100,000 Feb. 1921 Ulmer Farmers Savings 10,000 Mar. 1921 PRIVATE BANKS. July 1920 Jefferson City Bank Emmet County bank Dec. 1920 Armstrong Percival Percival bank Dec. 28, 1920 Davis City Valley bank April 11, 1921 Lawton Farmers bank April 14, 1921 NATIONAL BANKS. Emmetsburg National March 1921 Emmetsburg Milford National 25,000 April 13, 1921 First National 50,000 April 14, 1921 Marcus as Citizens*State. bReopened as Farmers State. cReorganized as Security National. YEAR ENDING JUNE 30, 1922. STATE BANKS. Bevington Bevington Savings 10,000 Citizens Savings 15,000 1921 Curlew Harris Savings 30,000 Oct. 1921 Harris Farmers Savings 15,000 Sept. 1921 aLamont Massena Savings 20,000 April 1922 bMassena Liberty North Liberty Savings 10,000 Aug. 1921 North Melcher State 25,000 May 20. 1922 Melcher State Bank of Oto 25,000 Dec. 1921 50,000 Nov. 1921 Sioux City American Savings Swaledale Savings 15,000 Sept. 14, 1921 Swaledale aReopened as Farmers State. bReopened as Massena State. PRIVATE BANKS. Grafton Farmers Exchange Bank Sept. 19, 1921 NATIONAL BANKS aCherokee Security National 50,000 Feb. 1922 bJefferson Farmers and Merchants 40,000 June 30, 1922 bReopened.