First National Bank - Oelwein, IA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5778
Charter Number: 5778
Start Date: July 19, 1932
Location: Oelwein, Iowa (42.673, -91.914)

Metadata

Model: gpt-5-mini
Short Digest: fdc96710

Response Measures

None

Description

Bank closed during the statewide banking holiday (waivers) on July 19 (year prior to June 1933), reopened in August (following year). No run described; actions are repayment of Federal Reserve loans and taking up waiver certificates. OCR corrected minor typos in snippets.

Events (4)

1. April 17, 1901 Chartered

Source: historical_nic

2. July 19, 1932 Suspension

Cause: Government Action
Cause Details: Closed during the banking holiday; depositors signed waiver certificates as part of statewide banking holiday procedures.
Newspaper Excerpt: It be remembered that on July 19 last the bank here closed for waivers.
Source: newspapers

3. August 1, 1932* Reopening

Newspaper Excerpt: On August the bank reopened. Certificates were issuto the depositor for their checking and savings account, due in three years at call of the bank.
Source: newspapers

4. June 6, 1933 Other

Newspaper Excerpt: First National Bank of Oelwein is taking up of the waiver certificates ... They have also paid every cent of borrowed money they secured from the federal bank at that time, they owe nothing.
Source: newspapers

Newspaper Articles (1)

1. June 6, 1933 The Oelwein Daily Register Oelwein, IA

Article from The Oelwein Daily Register, June 6, 1933

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Article Text

ARE BEING TAKEN First National Bank of Oelwein Paying Off All Waiver Cer. One of the good pleces of that hear Oelwein just now the fact that the First National Bank of Oelwein is taking up of the waiver certificates they sued when they opened up ing the banking holiday in the country. They have already taken up over half of these certificates, practically all of which have been transferred either checking or savings accounts. It be remembered that on July 19 last the bank here closed for waivers. The bank, together with committee composed of Knapp, Robt. Connor, H. Hoyer, Kerwin, H. Hintz and Lucas was selected at mass meeting depositors to secure waivers from the depositors, one the essentials The were soon signed and the men got back the proposition practically 100 cent. The committee ed numerous for each section of the city to do the actual work, and with their aid and the officers and directors of the bank the task SOOD completOn August the bank reopened. Certificates were issuto the depositor for their checking and savings account, due in three years at call of the bank. For the past two months the bank has been taking these certificates whenever called upon to do SO, but now they are taking all of them when presented. They have also paid every cent of rowed money they secured from the federal bank at that time, they owe nothing. All this happening in the course of about ten months or less, shows the confidence of the public was well founded This another indication of the resumption of normal business in Oelwein, and doubt if there another bank in the state that can show record following the banking holiday than the First National Bank. Everyone feeling good about the situation here, and we can all expect sumption of normal business ditions in the near future. Now let us all boost for Oelwein. Get behind the institutions have and encourage others locate here. Get behind the Chamber of Commerce and aid them in putting across some of plans they have. Let change that frown smile and see how much soonreach normal than any other community state. There are lot of things the dividual can do to help in this program. WORK ON INCREASING. is reported that with the fifty work the W. this there now around 300 on the pay roll. is hoped that business will warrant not only maintaining this force but increasing it considerably.