3643. State Bank (Neola, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 12, 1927
Location
Neola, Iowa (41.449, -95.616)

Metadata

Model
gpt-5-mini
Short Digest
c420341a

Response Measures

None

Description

Multiple articles (1927–1929) refer to L. A. Andrew as state superintendent of banking acting as receiver for the State Bank of Neola, with receivership reports, receiver lawsuits, and dividends on depositors' claims. No article describes a depositor run prior to suspension; the bank appears to have been placed in receivership and remained closed (receiver actions and dividends reported). Cause inferred as bank-specific insolvency (notes/claims), not rumor.

Events (2)
1. August 12, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank placed in receivership; lawsuits and bad promissory notes and claims indicate insolvency/asset problems leading to suspension.
Newspaper Excerpt
L A. Andrews, state superintendent of banking and for the State Bank of Neola, filed application in district court Friday morning ...
Source
newspapers
2. December 21, 1927 Receivership
Newspaper Excerpt
Overhead expenses, including salaries for employes and other items for six months' operation of the State bank of Neola by L. A. An- (receiver)... and later receiver's costs amount to $24,231.08. (Dec 21, 1927). (OCR corrected). , cause: null, cause_details: null } , {
Source
newspapers

Newspaper Articles (7)
1. August 12, 1927 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, August 12, 1927

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WOULD SETTLE FOR NOTE Neola Bank Receiver Files Request in District Court. L A. Andrews, state superintendent of banking and for the State Bank of Neola, filed application in district court Friday morning for authority to receive $300 consideration for a full and complete release of third mortgage belonging to the bank which was executed by Ellithrop and Mayme E. Ellithrop. W. Ellithrop, holder of the second mortgage, is about to foreclose and has made the offer of $300 as full and complete release of the third mortgage.

2. December 21, 1927 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, December 21, 1927

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ALLOW BANK EXPENSES Receiver's Costs at Neola Amount to $24,231.08. Overhead expenses, including salaries for employes and other items for six months' operation of the State bank of Neola by L. A. An-

3. January 11, 1928 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, January 11, 1928

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ASSETS NOW Neola Bank Receiver's Report Shows Increase. The second quarterly report in the receivership the State Bank of Neola filed in district court Wednesday by Andrew, superintendent banking, receiver, and Bruce Townsend, examiner charge. revealing that the assets the institution compared $400,142.52 in the report. Since the of the first quarterly report has been paid to the bank by notes which are being held by the bank, including and the principal, which $695.41. The total cash receipts for the quarter was Judge .Wheeler approved the report.

4. December 23, 1928 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, December 23, 1928

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SEEN and HEARD AUXILIARY INSTALLS-The Ladies' Auxiliary to the Brotherhood of Railway Trainmen met Wednesday afternoon in the small Eagles' hall for installation. The officers installed were: Past president, Mrs. Pearl Hacker; president, Mrs. Lena Hunt: vice president, Mrs. Edith Harting: treasurer, Mrs. Mary Montgomery: secretary, Mrs. Florence Cady: chaplain, Mrs. Amanda O'Nell; conductor, Gladys Whaley; warden, Mrs. Minnie Buchanan: inner guard, Mrs. Margaret Stipp: outer guard, Mrs. Laura Shelton; planist, Mrs. Grace Bosley. TRUCK DRIVER FINED-C. W. Vale, 46. trucker, of Logan, Ia., pleaded guilty in municipal court Saturday to charge of violating the city ordinance by blocking traffic and was fined $1 and costs, amounting to total of $2.50, by Judge John L. Blanchard. Vale was accused of parking his car on East Broadway in such a manner as to prevent street cars from passing his machine. LODGE TO ELECT-Election of officers for the coming year will be held by the Council Bluffs Agidus Achem association in connection with the regular monthly meeting to be held this afternoon at o'clock. The meeting will be held in the American Legion hall, 1381/2 West Broadway. STOLEN CAR FOUND-A Chrysler sedan stolen Thursday night from Fred D. Sitton, 128 West Broadway, was recovered Friday night at o'clock by Pillbox Officers Reynolds and Howard on the Mynster Springs road near the North Western railroad tracks. LOUGEE SUES-E. H. Lougee brought suit in district court Friday for $1,720 against George W. Turner, alleging the amount to be due on B. note. Foreclosure of a mortgage also is asked. A. U. DANCE-The Christmas dance for the American Insurance union will be held at Hafer's hall Tuesday evening. The order's own six-piece orchestra will play. UNION BARBER SHOPS close New Year's. Open till 8 p. m. Mon- W. B. A. ELECTS-The Women's BANK RECEIVER SUES-Three Benefit association elected officers suits were filed in district court Tuesday as follows: Test president, Saturday by the State bank of Mrs. Bertha Malone; president, Mrs. Neola and L. A. Andrew, state supPearl Savage: vice president, Mrs. erintendent of banking, receiver of Eva Shannon; financial secretary, the institution, in which total judgMrs. Bertha Walcutt: treasurer, ments of $7,463.35 were asked. Suits, Miss Sarah Sperle; recording secre- all based on notes, were filed tary, Mrs. Caroline Chapman; chap- against Herman and Garret lain, Mrs. Lucile Goldsberry: lady Schmither, two notes, $736.35; of ceremony, Mrs. Kathryn Rock- George and Thomas Grace, four well; sergeant, Mrs. Mary Sunder- notes, $5,227: Hattie M. Roane, one land; inner hostess, Mrs. Jennie note, $1,500. Messner; outer hostess, Mrs. Minnie Vorpohl; officer of the day, Zula ARRESTED AS THIEVESFlack; standard bearer No. 1, Mrs. Clement Flynn and Farley and Georgia Kimmel; standard bearer Russell Foster, wanted at Boone, No. 2, Mrs. Carrie Adams: captain of Ia., in connection with the theft of the guard, Mrs. Anna Gibson: a suitcase full of clothes, were armusician, Mrs. Mary Scholes: press rested Friday afternoon by Deputy correspondent, Mrs. Irene Cunning- Sheriff Ed Williams at the Y. M. ham. C. A. building. They were returned METZGER'S theft charges. specialize 75e full course Sunday dinner. Also a la carte service. Join REPORTS COLLISION-A1 Moryour friends and dine well. We are gan, living at Magnolia, Ia., reported making preparations to serve the to police Saturday that an unidentibest Christmas dinner. If you want fied motorist collided with his car a real treat come and enjoy it.-Adv. at Twenty-first street and Avenue TRUE COUNCIL NO. 305-True council No. 305, Security Benefit association, will entertain Friday evening at the O. O. F. hall with cards after a short business session. C. CHAPTER NO. 441-Council Bluffs chapter No. 441, Order of the Eastern Star, will meet in special session Friday for the purpose of initiation. All members of the order are cordially invited. REBEKAH LODGE NO. 3-Council Bluffs Rebekah lodge No. will meet in regular session, Monday evening. All members of the order are cordially invited. Anderson, 218 Marion avenue, underwent an operation for acute appendicitis, Friday, at the Edmundson hospital. WOMAN'S BENEFIT ASSOCIATION-The Woman's Benefit assoclation will meet Friday afternoon, 2:30 o'clock, in the small Eagles' hall. WE HAVE AN EXTRA fine lot of home dressed, dry picked, young turkeys at 39c pound. Bartel and Miller. Phone 709.-Adv. GRAVE BLANKETS, $3.00: cemetery wreaths, 75c to $5.00. Fred R. Shaw Flower Shop. Phone 41.Adv. XMAS TREES and children. Make appointments now for photographing. Phone 850. Mynster & Son.-Adv. A REAL BARGAIN. The new 5rm. shingle cottage at 218 Canning St. W. S. Cooper, 107 Pearl St. Phone 372.-Adv. UNION BARBER SHOPS close Xmas. Open till p. m. Monday.Adv. PIANO TEACHER-Mar Bouriclus over 335 Broadway. Phone 3024W.-Adv. ACCIDENT and health insurance See John R. DeWitt, 422 Bennett Bldg. Phone 3523.-Adv. WHIPPED CREAM PUFFS and chocolate eclairs at Eve's Bakery, 534 W. B'way.-Adv. Saturday to Boone to answer to F, damaging both cars. No one was hurt. MECCA BUILDING-Largest and finest ball room in the city, available for dances, lodge purposes, meetings, dancing studio. Over Service Drug Store, corner 8th and Broadway. See Mr. Smead.-Adv. MEN'S BATH department, Councill Bluffs Clinic, open from 1 to p. m. week days, and a. m. to 12 m. Sundays. This department is in charge of Mr. Earl Story, formerly of Excelsior Springs, Mo.-Adv. FOR EXPERT CAR WASHINGDuke Wade is back again at the Co. Bluffs Auto Co., and with modern high-pressure equipment can give you excellent service.-Adv. ON ALL electrical appliances and fixtures we are offering an attractive price worth your time to investigate. From now until Xmas Wack-Flynn, 100 S. Main.-Adv. MEMBERS of the Council Bluffs Retail Grocers' and Butchers' assoclation will close all day Christmas. -Adv. THE FINE CORNER on Canning and Ridge Sts. Money talks. W. S. Cooper, 107 Pearl St. Phone 372.Adv. GRAVE BLANKETS, $3.00: cemetery wreaths, 75c to $5.00. Fred R. Shaw Flower Shop. Phone 41.Adv. WE HAVE an extra fine lot of home dressed, dry picked young turkeys at 39c per pound-Adv. CALL ALFRED CHRISTIANSEN for all kinds of carpenter work. Phone 4899R.-Adv. W. A. PENN, DENTIST, room 243 Merriam Bldg. Telephone 1654. -Adv. DR. JOHN W. BAIRD. dentist. Room 709 Bennett Bldg. Ph. 875.Adv. WE RETAIL flowers for all OCcasions. F. L Lainson. Tel. 2900.Adv. BEEM-BELFORD CO., Funeral directors. Tel. 148.-Adv.

5. March 3, 1929 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, March 3, 1929

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BANK RECEIVER SUES Seeks to Recover on Notes for Closed Neola Institution. Judgments totaling $13,822.45 are asked in three suits filed in district court Friday afternoon by L. A. Andrew, state superintendent of banking, as receiver of the State Bank of Neola at Neola, on alleged promissory notes. In the first suit filed against Otto Schulze of Neola, a judgment of $2,564.45 is asked on the first count and $4,000 on the second count. In the second suit against Ray Spencer, Neola, judgment of $2,458 is asked. The third suit asks for a judgment of $4,800 against Ray Spencer, Neola, the maker, and Anna Olsen, also of Neola, who indorsed it as surety.

6. March 21, 1929 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, March 21, 1929

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CLAIMANTS WILL GET 10 PER CENT JUDGE AUTHORIZES DIVIDEND BY NEOLA BANK'S RECEIVER. IT'S SECOND ALLOWED L. A. Andrew, state superintendof banking, as receiver of the State Bank of Neola, was authorized Wednesday afternoon by District Judge O. D. Wheeler to pay dividend of 10 per cent on depositors' claims. The dividend will be paid on April 10. Enough has been realized to pay the 10 per cent dividend, Andrew's application declared. This is the second dividend paid on claims pending against the bank. The first, which also was for 10 per cent, was paid on Sept. 19, 1928. It totaled $26,213.72. Andrew was also authorized Wednesday by the court to receive through assignment 117 acres of farm land located Pottawattamie county from Edward E. and Lucille Olsen in settlement worth of promissory notes.

7. September 20, 1929 The Daily Nonpareil Council Bluffs, IA
Article from The Daily Nonpareil, September 20, 1929

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7, block 9. Howard's addition, $60. W. H. Wood and wife to Thomas B. Shea, lot 8, block 9, Howard's addition, $20. D. Edmundson to Thomas Shea, lots and 15. block 23, Howard's addition, $100. Schnorr and wife to ThomShea, and block 24, addition. $47.50 S. W. Pichart and wife to Thomas Shea, lot 13, block, 24, Howard's addition, $75. Helen Innes and husband to Thomas Shea, 14 and 15, block 9, Howard's $50 William Arnd and wife to W. Reed, lots and block 68, Riddle's subdivision, A. J. Anderson to Elvin Bryant, lot 8, block 1, Harriman's place, $225. E. M. Scarr to Elvin Bryant, lot 9, block Harriman's place, $225. Ellen E. Gray to Earl Gray, lot 10, block town of Oakland, $1. Earl Gray and wife to Ellen E. Gray, one-half interest in the E½ of lots and 7. block 12, original plat of the town of Oakland, $1. F. Smith and wife H. S. West, lots and 3, block 9, Everett's addition, $1. H. E. Inscho and wife to Florence Thompson, lot 2, except feet, and W 10 feet of block 20, Hughes and Doniphan's addition, $1. Eva Ketcham to H. E. Ketcham, lot 5, Benjamin Fehr, West End subdivision, $1. L. A. Andrew, state superintendent of bank, as receiver of the State Bank of Neola, to B. Carver, south of lot 11, and north of lot 12, block of Neola, $1. Nettie Cross to Mary M. Spears and of SE% of Sec. 6, Twp. 77, R. 41, $2,900. Nettie Cross to Mrs. Caroline Short, N½ of NW1/4 SE% of Sec. Twp. 77, 41, $2,900. Michael Doyle and wife to John Rodenburg, SW½ and W½ of SE% of Sec. 21, Twp. 77, R. H. W. Blackwell and wife to John Carroll, lots 82 and 83, Twin Garden, Smith and wife to Mabel Christiansen, lot 21, block 40, Ferry's $1. McGee Investment company, Inc., to Lars C. Jensen, lot block 10, Evans' Second Bridge F. Ellis and wife to McGee Investment company, lot 4. block Gunn's First addition, and lot block Evans' Bridge addition, $1. W. H. Wood and wife to Thomas B. Shea, lot 8, block 9, Howard's addition, $20. Louie E. Robinson to Nellie G. Cox, lot block 6, Benson's Second addition, Hattie E. Day to Ouren Seed company, lots and 7, block 2, Twin City place, $900. James McCann and wife to the Council Bluffs School district, of an acre in NW1/4 of the E% of Sec. 25. Twp. 75, R. 44, lying south of block Sunnyside addition and west of.lots and 5, McCann's First addition, $1,200. Leighton and wife to Wilena Baughman, south eight acres of E½ of Sec. 13, Twp. 74, R. 38, $225. Oscar Biesendorfer and wife Marie E. Johnston, lot block Home place addition, $3,100. Elmira Pound, by State Savings bank, her guardian, to Mamie Robinson, lot block 2, Wilson Terrace addition, $3,500. Harvey J. Abel and wife to Gladys Abel and husband, NW1/4 of NE% of Sec. 7, Twp. 75, Luchow and wife to Charles Maxwell, lot 46, Lakoma annex subdivision of NE% of SE% of Sec. 13, Twp. 74, R. $100. Ray D. Keating and wife to W. R. in the E½ of SE% of Sec. 25, Twp. 75, Anna Dorsch and husband to M. M. Olsen, lot block 10, McMahon, Cooper and Jefferies' addition, except the 83 feet and inches, $1. Mary Rebecca Runyan to Edith Runyan Farmer and Helen Shepardson, acres in the W½ of NE% of SE% of Sec. Twp. 74, 44; and one-third interest of 20 feet of lot 154, original plat of Council Bluffs: and one-third interest in lot subdivision of origof lot 161, $1. Lainson, sheriff's deed to Lizzie Schiereny, lot 12, block 11, Pierce's subdivision, $902.01 Lainson, sheriff's deed to Katie R. Ibach, lot 41, Lakoma subdivision of N½ of SE% of Sec. 13, Twp. 74, R. 44, $516.99. A. Morse and wife to John Evans, feet of 40 feet of NW% of Sec. 33, Twp. 75, R. 42,