State Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: April 15, 1931
Location: Rowan, Iowa (42.741, -93.553)

Metadata

Model: gpt-5-mini
Short Digest: f8ec2869

Response Measures

None

Description

Bank closed by order of its board on April 15, 1931 due to frozen assets. Article explicitly states there was no run and that the failure left Rowan without a bank; no reopening mentioned.

Events (1)

1. April 15, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed by board due to frozen assets indicating solvency/asset problems; no depositor run reported.
Newspaper Excerpt: Doors of Bank at Rowan Are Closed ROWAN, April 15.-The State Savings bank here closed its doors at noon Tuesday by order of the board of directors. There was no run on the bank by depositors but the closing was attributed to frozen assets. The failure leaves Rowan without bank.
Source: newspapers

Newspaper Articles (1)

1. April 15, 1931 Globe-Gazette Mason City, IA

Article from Globe-Gazette, April 15, 1931

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Article Text

Doors of Bank at Rowan Are Closed ROWAN, April 15.-The State Savings bank here closed its doors at noon Tuesday by order of the board of directors. There was no run on the bank by depositors but the closing was attributed to frozen assets. The failure leaves Rowan without bank.