State Exchange Bank - Parkersburg, IA

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 1, 1926*
Location: Parkersburg, Iowa (42.577, -92.787)

Metadata

Model: gpt-5-mini
Short Digest: 89a4049f

Response Measures

Full suspension

Other: Bank officers refused to accept deposits on Saturday and Monday and asked the state department to take charge before closure.

Description

Article (The Gazette, 1926-05-04) reports a run of withdrawals the prior week; bank was closed by order of the state banking department and state department took charge. No specific rumor or other trigger is given in the text.

Events (2)

1. April 1, 1926* Run

Cause Details: Article only reports a run of withdrawals without specifying a trigger (rumor, correspondent failure, or bank-specific insolvency).
Measures: Officers refused to accept deposits on Saturday and Monday; asked the state department to take charge.
Newspaper Excerpt: Following run of withdrawals last week.
Source: newspapers

2. May 3, 1926 Suspension

Cause: Government Action
Cause Details: Closed by order of the state banking department after the run; officers had requested the state department to take charge.
Newspaper Excerpt: State Exchange bank ... was closed late yesterday by order of the state banking department.
Source: newspapers

Newspaper Articles (1)

1. May 4, 1926 The Gazette Cedar Rapids, IA

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Article Text

Run Causes Bank At Parkersburg To Close State Exchange bank. established here about 45 years ago, was closed late yesterday by order of the state banking department. Following run of withdrawals last week. officers had refused to accept deposits on Saturday and Monday and had asked the state department to take charge.