First National Bank - Sheffield, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12430
Charter Number: 12430
Start Date: January 27, 1933
Location: Sheffield, Iowa (42.893, -93.215)

Metadata

Model: gpt-5-mini
Short Digest: a401c0ae

Response Measures

None

Receivership Details

Depositor recovery rate: 89.7%
Date receivership started: 1932-06-11
Date receivership terminated: 1937-03-25
Share of assets assessed as good: 17.1%
Share of assets assessed as doubtful: 82.2%
Share of assets assessed as worthless: 0.8%

Description

The article (Iowa City Press-Citizen, 1933-01-27) lists RFC loans and explicitly identifies The First National bank of Sheffield (receiver) $77..., indicating the bank was in receivership (closed) and received RFC assistance. No run or reopening is mentioned in the text.

Events (3)

1. August 31, 1923 Chartered

Source: historical_nic

2. June 11, 1932 Receivership

Source: historical_nic

3. January 27, 1933 Receivership

Newspaper Excerpt: Sheffield. The First National bank of Sheffield (receiver). $77.-
Source: newspapers

Newspaper Articles (1)

1. January 27, 1933 Iowa City Press-Citizen Iowa City, IA

Article from Iowa City Press-Citizen, January 27, 1933

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Article Text

R.F.C.LOANS IN DECEMBER Six Million Granted to Davenport Bank Last Month WASHINGTON -(AP)- Reconstruction finance loans made to Iowa institutions during December Blairstown. Benton County State Boone Security Savings bank Boxholm Farmers State bank Carpenter Carpenter Savings bank. Clinton. City National bank of Clinton, Clinton Savings bank. Council Bluffs State Savings Davenport. Union Savings Bank and Trust company of Davenport. Des Moines. Home Savings bank, Earling Farmers Trust and Sav ings bank. $15,000 Eldora. Citizens Savings bank Exira. Exchange State bank. $15. 500 Gray. Farmers Savings bank $6,000. Hampton. Franklin County State bank. Hartwick. The Hartwick State Independence Commercial State bank (receiver) $40,000. Indianola. The First National bank of Indianola (receiver) $75.000. Iowa City, Iowa City Savings bank (receiver) $35,000. Iowa City, Johnson County Sav ings bank (receiver) $140,000 Iowa Falls, The State National bank of Iowa Falls (receiver) $35,500. Joice, Farmers Trust and Sar ings bank $13,000 Keota. Security State bank $13. 000. Le Mars, The First National bank of Le Mars. $100,000. Lohrville. Lohrville Savings bank $14,000. Lone Tree Lone Tree Savings Maquoketa, The First National bank of Maquoketa (receiver) $84.500 Meservey. Farmers Savings bank (receiver) $9,500. Mitchell. Mitchell Savings bank, Nevada. Farmers Trust and Sav ings bank. $2,500. Oskaloosa. The Oskaloosa NaRandolph Randolph State bank. Reinbeck First Savings bank of Sac City, Citizens Savings bank Sheffield. The First National bank of Sheffield (receiver). $77.- Sheldon Security State bank, $25,000. Sloan, Sloan State bank $32,000. Stanhope, Farmers State bank, West Branch. Citizens Savings bank. $9,000. Winterset. Madison County Sav ings bank. $72,000. Davenport, Register Life Insur Des Moines, Inter-State Businses Men's Accident company $76.000. Des Moines, Iowa National Fire De Witt. Iowa Mutual Insurance Dallas Center. Bankers Livestock Agricultural Credit corporation. Sioux City, Regional Agricultural Credit corporation of Stoux City,