Article Text
NEVADA BANK CLOSES NEVADA, Jan. The Savings bank was People's closed here today due to continued Deposits amounted to about $400,000. One here. The First mains operation bank closed its doors National Wednesday.
3644. First National Bank (Nevada, IA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 2555
- Charter Number
- 2555
- Start Date
- January 6, 1927
- Location
- Nevada, Iowa (42.023, -93.452)
Metadata
- Model
- gpt-5-mini
- Short Digest
03dabebd
Response Measures
None
Receivership Details
- Depositor recovery rate
- 67.7%
- Date receivership started
- 1927-01-10
- Date receivership terminated
- 1931-12-31
- OCC cause of failure
- Economic conditions
- Share of assets assessed as good
- 24.8%
- Share of assets assessed as doubtful
- 36.4%
- Share of assets assessed as worthless
- 38.8%
Description
First National Bank of Nevada, IA closed its doors in early January 1927. Contemporary reports state there was no run; closure was due to inability to liquidate funds tied up in farm loans. A receiver is later mentioned (1929 lawsuit by bank receiver), indicating permanent closure/receivership.
Events (4)
1.
August 16, 1881
Chartered
- Source
- historical_nic
2.
January 6, 1927
Suspension
- Cause
- Local Shock
- Cause Details
- Inability to liquidate money tied up in farm loans; officers voluntarily remained closed while attempting arrangements; no run reported in press accounts.
- Newspaper Excerpt
- The First National closed its doors Wednesday.
- Source
- newspapers
3.
January 10, 1927
Receivership
- Source
- historical_nic
4.
June 20, 1929
Receivership
- Newspaper Excerpt
- Bank Receiver Sues ... the First National bank, Nevada. ... the bank close Jan. Judgment has been entered ... (mentions receiver sues in Ames court).
- Source
- newspapers
Newspaper Articles (4)
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Article Text
SECOND NEVADA BANK CLOSES IN TWO DAYS Nevada. Ia., Jan. The Peoples Savings bank of Nevada. failed to open for business today, making the second bank failure in this city within twentyfour hours statement issued by officials said the bank had been closed the protection of depositors The bank had capitalization of 000 and deposits of Officers were M. president, and McConkie and Martin. vice presidnets. Meeting of bank officials of the city with business men and citizens was held last night follow ing the failure of the First National was given the meeting that the finances of the two remaining banks were in good condition. Peoples Savings however, failed few The Peoples Savings bank was correspondent the defunct Iowa Loan and Trust company bank of Des Moines.
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Article Text
THREE MORE BANKS IN STATE ARE CLOSED Jan. The First National bank Moulton, with capital stock $35,000 vol. untarily remained closed yesterday, while officers of the bank were tempting to arrange for continuing the There no "run" the bank and its closing caused by the inability liquidate money that is tied up in farm loans. NEVADA. Ia., Jan. Peoples Savings bank was closed here today. due continued with drawals Deposits amounted about $400,000. bank The First National closed its doors yesterday.
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Article Text
MANY ON DOCKET IN AMES MUNICIPAL Auto Accident Dispute Will Be Heard by Jury Tues. Two civil cases have been set for trial next week in the Ames municipal court. The case of Irwin Swanson Ames against Capt. and Mrs. Harper. 2605 Knapp street. on trial before jury Tuesday morning. Swanson asks $150 and costs for damages an auto crash June avenue and Knapp street when the car driven Mrs. Harper struck Swanson's car. The plaintiff charges reckless Bank Receiver Sues The case Melvin Royer, re. ceinver the First National bank. Nevada. against erland of Novada. will go on trial Wednesday morning. The plaintiff claims that with interest Der cent from May 21. 1929 due on promisnote for 3129 signed by the defendant March 1325. in of the bank The bank close Jan. Judgment has been entered the court favor of Dr. Ferguson Ames against Mr. and Mrs. H. Scheurman Ames in the amount of $27 for services rendered. judgment for for aerchandise bay been entered Ames tire dealer. against Fred Eller Lunch Room Case Court In case tranterred the Ames court from district court Novada. Charlene Olson asking judgment of $820 (Continued on