Farmers Savings Bank - Sac City, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: April 1, 1932*
Location: Sac City, Iowa (42.422, -94.990)

Metadata

Model: gpt-5-mini
Short Digest: 98ee8e54

Response Measures

None

Description

Article (Apr 11, 1932) states the Farmers Savings Bank of Sac City 'closed during the ... epidemic' and has been in liquidation, paying 92% to depositors and another dividend expected. No run is described; the bank appears to have closed and entered liquidation/receivership. OCR errors corrected (e.g., fragmented sentence).

Events (2)

1. April 1, 1932* Suspension

Cause: Macro News
Cause Details: Closed during the epidemic of bank failures/panic (widespread bank fear) that triggered closures
Newspaper Excerpt: The Farmers Savings bank. of Sac City, which closed during the of epidemic bank ... has already 92 per to depositors and another dividend is in prospect
Source: newspapers

2. * Receivership

Newspaper Excerpt: closed bank has gone through several years liquidation and able to 100 pay nearly per cent its depositors ... paying 92 per to depositors and another dividend is in prospect must quite evident casual observer that closed bank has gone through several years liquidation and able to 100 pay nearly per cent its depositors should never have closed
Source: newspapers

Newspaper Articles (1)

1. April 11, 1932 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, April 11, 1932

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Article Text

SHOULD NOT HAVE (Cherokee Times.) The Farmers Savings bank. of Sac City, which closed during the of epidemic bank sulting from fear, has already 92 per to depositors and another dividend is in prospect must quite evident casual observer that closed bank has gone through several years liquidation and able to 100 pay nearly per cent its depositors should never have closed. Senator of North Dakota threatens to bolt the republican Which party. just another way saying that may conclude to return to the party the livery which he stole years ago and since been wearing with impunity the gaze of the public. majority of the members of the American Legion in favor of adding two billion dollars federal burdens the country facing necessity of re-enacting tax legislation to the national budget.