Farmers Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 9, 1931
Location: Minden, Iowa (41.467, -95.543)

Metadata

Model: gpt-5-mini
Short Digest: 260098a3

Response Measures

None

Description

Article states Farmers Savings Bank of Minden closed on March 9 and a state superintendent of banking was receiver; later (July 12, 1931) court sanctioned a dividend from the receivership. No mention of a depositor run prior to suspension; closure was followed by receivership and dividend payments, consistent with permanent closure.

Events (2)

1. March 9, 1931 Suspension

Cause: Government Action
Cause Details: Bank was closed and the state superintendent of banking was appointed receiver (regulatory/government action resulting in suspension)
Newspaper Excerpt: the closing of the Farmers Savings bank of Minden, Ia., on March 9
Source: newspapers

2. July 12, 1931 Receivership

Newspaper Excerpt: Payment of a 25 per cent dividend, the first since the closing of the Farmers Savings bank of Minden, Ia., on March 9, was authorized Saturday by District Judge Kenneth R. Cook on application of L. A. Andrew, state superintendent of banking, receiver of the bank.
Source: newspapers

Newspaper Articles (1)

1. July 12, 1931 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, July 12, 1931

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Article Text

MINDEN BANK PAYS FIRST DIVIDEND COURT SANCTIONS 25 PER CENT PAYMENT-WILL AMOUNT TO OVER $42,000. Payment of a 25 per cent dividend, the first since the closing of the Farmers Savings bank of Minden, Ia., on March 9, was authorized Saturday by District Judge Kenneth R. Cook on application of L. A. Andrew, state superintendent of banking, receiver of the bank. Depositors claims as shown on the books of the bank total $188,809 according to the report filed in district court by the receivership. The dividend to be paid will amount to approximately $47,202.32. Emma Orr Cleary, lot 141, Twin City Gardens, $427.17. Clyde E. Killion and wife to F. J. Eckels, lot 26, auditor's subdivision of NW1/ of NE% of Sec. 12, Twp. 75, R. 40, $50. J. E. Bender and wife to Clyde E. Killion, lot 2, Auditor's subdivision of NW1/4 of SE% of Sec. 12, Twp. 75, R. 40, $1. R. S. Howery and wife to L. Mae Williams, lot 6, block 1, Big Grove addition, town of Oakland. $1. Carl M. Huber and wife to Glenn H. and E. Marie Copeland, lot 44, Johnson's addition. $550. M. C. Kuhl and wife to Fannie L. Reigard, lot 6. block 16, Evans' second bridge addition, $1. Fay B. Smith and husband to Celia Hochman, lot 13, block 28. Beer's subdivision, $500. Harry Heithoff to Fred H. Schroeder, S½ of NW of Sec. 17. Twp. 75, R. 41, 800. Harry C. Crowl and wife to Fred K. Johnson and wife, lot 28, block 24, Brown's subdivision, $400. B. A. Gronstal and wife to Martin Petersen, lot 203, 204, Lakoma Annex. _M. S. Wise and wife to L. E. Van Druff, NW% of Sec. 15; E½ of NE% of Sec. 16, Twp. 77, R. 40, $10,520. St. Louis & Kansas City Land company to Chicago, Burlington and Quincy Railroad company, part of SE% of Sec. 1, Twp. 74, R. 44, $1.25. Trusteeship of A. F. Smith company to O. P. Cordill, lot 3, Spencer Smith replat of part of E½ of SE% of Sec. 12, Twp. 75, R 44 and E½ of NW1/4 of Sec. 13, Twp. 75, R. 44, $10. Ralph W. Nipps and wife to John McCarthy, lot 13, block 31, Central subdivision, $2,500. Amos M. Eberly and wife to W. S. Heller, lots 1 to 4, inclusive, block 11, Burn's addition, $2,500. Frances Grahl and husband to E. J. Spratt, lot block 16, Evan's second bridge addition, $1. A. H. McMullen and wife to Amer McMullen, lots 13 and 14, block 143, original plat of Crescent, $1. Hamilton Building company to First National bank, part of lots 2. 3, Casady & Test's subdivision of lot 186, original plat, $1. Administrator of estate of Made- line L. Putnam to Caroline and John G. Wiatt, lots 1, 3, block 15, Highland Place, $1,600. Peter Madsen and wife to G. H. and Florence Mynster, lots 16, 17 and 18, block 22, Evans second bridge addition, $2,500. Amer McMullen and wife to A. H. McMullen, lots 5 and 6, block 143, original plat, Crescent, $1. First National bank to receivers of J. P. Hess company, lot 2, Auditor's subdivision of lots 6 and 7, block 9, Bayliss first addition, $1. P. A. Lainson, sheriff's deed to Amos M. Eberly, lots to inclusive, lot 11, Burn's addition, $1,300.