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.
3645. Peoples Savings Bank (Nevada, IA)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- savings bank
- Start Date
- January 6, 1927
- Location
- Nevada, Iowa (42.023, -93.452)
Metadata
- Model
- gpt-5-mini
- Short Digest
0dcb5c08
Response Measures
Full suspension
Description
Newspaper reports (Jan 6, 1927) state Peoples Savings Bank 'failed to open' and 'was closed... due [to] continued withdrawals' after the collapse of the Iowa Loan & Trust corresp. This indicates a run leading to suspension and failure. No reopening reported; described as a failure/closure. Bank identified as a savings bank (likely state-chartered).
Events (2)
1.
January 6, 1927
Run
- Cause
- Correspondent
- Cause Details
- Heavy withdrawals following collapse/defunct status of its correspondent Iowa Loan and Trust Company of Des Moines; panic-like withdrawals.
- Newspaper Excerpt
- Peoples Savings bank was closed here today due continued withdrawals Deposits amounted about $400,000.
- Source
- newspapers
2.
January 6, 1927
Suspension
- Cause
- Correspondent
- Cause Details
- Bank failed to open and was closed (for protection of depositors) after continued withdrawals tied to the failure of its correspondent, Iowa Loan and Trust Company.
- Newspaper Excerpt
- The Peoples Savings bank of Nevada failed to open for business today... the bank had been closed for the protection of depositors
- Source
- newspapers
Newspaper Articles (3)
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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.