3686. Guthrie County National Bank (Panora, IA)

View Charter #3226 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3226
Charter Number
3226
Start Date
July 12, 1926
Location
Panora, Iowa (41.692, -94.363)

Metadata

Model
gpt-5-mini
Short Digest
be39b628

Response Measures

None

Receivership Details

Depositor recovery rate
75.4%
Date receivership started
1926-07-22
Date receivership terminated
1930-06-13
OCC cause of failure
Economic conditions
Share of assets assessed as good
46.2%
Share of assets assessed as doubtful
46.6%
Share of assets assessed as worthless
7.2%

Description

Newspapers report the Guthrie County National Bank in Panora was ordered closed by a federal examiner in mid-1926 and subsequently placed in receivership (a 1927 article notes a receiver paying dividends). There is no clear description of a depositor run on this specific bank in the articles — closure appears to be by examiner/government action and the bank did not resume normal independent operations. There is a minor date discrepancy: one article says the bank closed its doors in June, 1926, while a July 13, 1926 item states it closed its doors yesterday (July 12, 1926). I flag this discrepancy but it does not change the classification.

Events (5)
1. July 19, 1884 Chartered
Source
historical_nic
2. July 12, 1926 Suspension
Cause
Government Action
Cause Details
Closed on the order of a Federal bank examiner (regulatory action).
Newspaper Excerpt
Panora- The Guthrie County national bank of Panora closed its doors yesterday on the order of Federal Examiner.
Source
newspapers
3. July 19, 1926 Other
Newspaper Excerpt
The Guthrie County National bank at Panora had closed on the preceding Saturday. Officials of the Bagley bank felt that their institution might be affected because of its close relations with the Panora bank. ...As they learned of the plans, all but one signed up. At dawn the work was about done and then two prominent citizens stepped up and assured the examiner they would underwrite any deficiency. The next day when the bank opened for business, people soon learned what had taken place. But instead of possible run on the bank the which would inevitably have meant its closing. such was their confidence ... The bank is now flourishing. (Article discusses a neighboring Bagley bank's response; included because it references the Panora bank closure.)
Source
newspapers
4. July 22, 1926 Receivership
Source
historical_nic
5. March 15, 1927 Receivership
Newspaper Excerpt
Guthrie County, March ... a dividend of 10 cent within few days to be paid depositors of the Guthrie County National bank of Panora, by Carl Foster, receiver. ... The bank closed its doors in June, 1926.
Source
newspapers

Newspaper Articles (3)
1. July 13, 1926 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, July 13, 1926

Click image to open full size in new tab

Article Text

Iowa News Notes BY THE ASSOCIATED PRESS Des Moines- "wild west" welcome was given delegates of the International Brotherhood of Book Binders in sesion here this week. Yesterday's session was devoted to reports of officers and special committees Sioux City-G. A. Borchardt, exsoldier. window shopping, discovered a canteer displayed in the window of an army goods store, that he had carried during his 23 months of overseas daty. Des Moines- deputy director of prohibition will not be appointed to take the place of Glen A. Brunson, who recently left that office to become head of the enforcement district of Iowa, Nebraska, and South Dakota. Des Moines Crops in the eastern and middle western states give promise of banner year for the farmer. Congressman Cassius Dowell of Des Moines reported yesterday upon his from Washington. Des Moines Municipal Judge Sawyer says he will cut down the heavy fines that have been assessed against over parking and speeding motorists. Instead of the $100 maximum, traffic law violators will be fined only up to $25. Panora- The Guthrie County national bank of Panora closed its doors yesterday on the order of Federal Examiner. H. Moore, president of the bank, stated that the bank will reopet in a day or two. Des Moines-Senator Cummins arrived here yesterday. The veteran statesman was not prepared to announce his plans for the future. He returns to Washington for his final session in 18 years of service. Claiming that the changes in styles that caused the abandonment by women of cotton blouses and underskirts had ruined its business, cotton manufacturer in England recently filed a petition in bankruptcy.

2. July 19, 1926 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, July 19, 1926

Click image to open full size in new tab

Article Text

GENUINE PUBLIC SERVICE. Something to stir the blood with pride in Iowa and Iowa people has just occurred at Bagley. Faced with critical situation, the farmers and townspeople who were deeply interested, got busy, held an all night seasion and saved their bank from following the course one in nearby town had taken. The Guthrie County National bank at Panora had closed on the preceding Saturday. Officials of the Bagley bank felt that their institution might be affected because of its close relations with the Panora bank. G. B. Hadlock of Des Moines, federal bank examiner, was called. The officers and directors held meeting with him. A reorganization meeting was decided upon, to be held at a farm miles from town. The examiner outlined the plan of work and described the condition bank. The men then of the went to work. They drove around the country. called farmers from their beds and told them what was wanted. As they learned of the plans, all but one signed up. At dawn the work was about done and then two prominent citizens stepped up and assured the examiner they would underwrite any deficiency. The farmers drove away to do their chores. The next day when the bank opened for business, people soon learned what had taken place. But instead of possible "run" on the bank the which would inevitably have meant its closing. such was their confidence in that energetic and responsible group of men who had worked all night in the interests of all. that many bought stock and publicly expressed their confidence in the institution. The bank is now flourishing. is what we call genuine That service. It would not have been difficult to have let things but such an titude of helplessness was never given chance. The and Intestinal determination fortitude of few men averted calamity. The community which has such people in its midst is blessed indeed. Worth preacher shot and killed another man after the latter had quarreled with the minister about attacks mayor of the town. The the preacher's victim was upon made threats, was unarmed. said to have The preachpistol handy, shot his caller having three Strange, isn't that his life's study of the Bible and the principles it teaches should have fled his mind completely? Dan Steck is senator from Iowa but Parsons, his attorney wants more money for making him one. Ac-, cordingly he has filed suit to collect $5,000 more in fees which he claims is due him. By the time that lawsuit is if comes to trial, Dan may wonder whether the senatorship is worth If you ever tried to count them. you won't be surprised to learn that the Ford net profit of

3. March 15, 1927 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, March 15, 1927

Click image to open full size in new tab

Article Text

Panora Bank to Pay 10 Per Cent Dividend (Register's Special News Service.) Guthrie Center, March will dividend of 10 cent within few days to the paid depositors of the Guthrie County National bank of Panora, by Carl Foster, receiver. total amount $40, this dividend will This be the second within month, the former one being for 20 per cent. The bank closed its doors in June, 1926.