Sanborn State Bank - Sanborn, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 1, 1924*
Location: Sanborn, Iowa (43.182, -95.656)

Metadata

Model: gpt-5-mini
Short Digest: 10f25acf

Response Measures

None

Description

Article (Apr 17, 1925) reports the Sanborn State Bank closed its doors the previous July and a state-appointed receiver (Mr. Frye) put in charge. No run is described; bank remains under receivership, indicating a suspension leading to closure. Date of closing inferred as July 1924 (article says last July relative to Apr 1925).

Events (2)

1. July 1, 1924* Receivership

Newspaper Excerpt: the State banking department ... appointed Mr. Frye, an ex-banker of West Bend, Iowa, to take charge of the affairs of the bank. Depositors ... appointed a committee ... to secure signatures ... petitioning the governor for the removal of Mr. Frye.
Source: newspapers

2. July 1, 1924* Suspension

Cause: Government Action
Cause Details: State banking department intervened and appointed a receiver after the bank closed its doors; closure appears regulatory/official rather than an immediate depositor run.
Newspaper Excerpt: At the time of the closing of the doors of the Sanborn State Bank last July, committee of three men, depositors, was appointed to cooperate with the State banking department, who appointed Mr. Frye, an ex-banker of West Bend, Iowa, to take charge of the affairs of the bank.
Source: newspapers

Newspaper Articles (1)

1. April 17, 1925 The Sioux County Index Hull, IA

Article from The Sioux County Index, April 17, 1925

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Article Text

WOULD REMOVE BANK RECEIVER Depositors of Closed Institution at Sanborn, Ia., Are Not Satisfied Sanborn. Ia. April At the time of the closing of the doors of the Sanborn State Bank last July, committee of three men, depositors, was appointed to COoperate which the State banking department. who appointed Mr. Frye, an ex-banker of West Bend, Iowa, to take charge of the affairs of the bank. Things have not been running smoothly, and last Saturday, mittee called the depositors together at a meeting at the Citizens' Opera House. A committee of three was appointed to secure signatures of a majority of the depositors petitioning the governor for the removal of Mr. Frye.