3709. First National Bank (Rock Valley, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5200
Charter Number
5200
Start Date
November 1, 1933*
Location
Rock Valley, Iowa (43.205, -96.295)

Metadata

Model
gpt-5-mini
Short Digest
44b18c1d

Response Measures

None

Receivership Details

Depositor recovery rate
84.0%
Date receivership started
1933-10-31
Date receivership terminated
1938-01-29
Share of assets assessed as good
37.4%
Share of assets assessed as doubtful
52.4%
Share of assets assessed as worthless
10.2%

Description

Articles indicate the First National Bank of Rock Valley closed on Nov 1, 1933 and a receiver was appointed. A local protest article (Nov 6, 1933) refers to the appointment of a receiver; March 22, 1934 article reports the receiver (M. C. Ennor) will make a 48% payment to depositors. No explicit run is described in the provided excerpts.

Events (4)

1. June 28, 1899 Chartered
Source
historical_nic
2. October 31, 1933 Receivership
Source
historical_nic
3. November 1, 1933 Suspension
Cause
Government Action
Cause Details
Bank was closed and a receiver appointed (placement into receivership on Nov. 1, 1933).
Newspaper Excerpt
The First National bank of Rock Valley, which closed Nov. 1, 1933, will make a 48 per cent payment to depositors within the next few days, according to M. C. Ennor receiver in charge
Source
newspapers
4. November 1, 1933* Receivership
Newspaper Excerpt
protesting 'Foreign' against appointment of receiver the National bank here... protest the receiver for the First ... National bank here. ... earnest efforts to delay this reivership several months. Signed ... every business firm ... protest the receiver for the First National bank here (Nov.6,1933 article discusses appointment of receiver).
Source
newspapers

Newspaper Articles (2)

Article from Des Moines Tribune, November 6, 1933

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Article Text

Kerr Says Lateral Pass Penaltv Is Too Severe ROCK VALLEY, signed by 64 business gram East's Rock Valley has been sent President Roosevelt, Senators Dickinson and Murphy and Congressman Gillette protesting 'Foreign' against appointment of receiver the National bank here. telegram urges that time Fordham's granted for to refinance the bank Shift through the federal agencies for that purpose. telegram follows: the undersigned citizens Head Football business men of Rock Valley, HAMILTON, protest the receiver for the First article concerning National bank here. We feel that verity the penfairness the bank and on attemptshould be allowed lateral passes the farmer borrowers beyond line refinance their indebtedness to scrimmage through the federal land that turn out and other agencies for their relief. This bank has passes has itself refraining voked much disforced through fore- cussion closures forced That football coaches, often expressed wish of the officials and fans. at and In discussing inconsistent to penalize eral pass plays institution which has tried prominent the same thing in this football officials munity. respectfully your New York last earnest efforts to delay this across another ceivership several months. Signed seems to point every business firm in penalty than viously mentioned. Teams Lose Against Double Fooled Fordham Early in Game. By Andrew Kerr. Colgate recent the undue


Article from The Des Moines Register, March 22, 1934

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Article Text

of the engine would make this purchase of electricity by the city unnecessary. A building has been erected by CWA labor to house the engine. No date was set for a hearing on a permanent injunction. PAYMENT PLANNED. ROCK RAPIDS. The First National bank of Rock Valley, which closed Nov. 1, 1933, will make a 48 per cent payment to depositors within the next few days, according to M. C. Ennor receiver in charge, of George The payment will amount to $55,861.