National Bank - Sidney, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 5145
Charter Number: 5145
Start Date: October 13, 1931
Location: Sidney, Iowa (40.748, -95.647)

Metadata

Model: gpt-5-mini
Short Digest: ffa5fcd3

Response Measures

None

Receivership Details

Depositor recovery rate: 73.8%
Date receivership started: 1931-10-15
Date receivership terminated: 1936-10-27
OCC cause of failure: Economic conditions
Share of assets assessed as good: 27.3%
Share of assets assessed as doubtful: 50.8%
Share of assets assessed as worthless: 21.9%

Description

Article states the National Bank of Sidney closed last October 13 (relative to Apr 16, 1932) and a bank receiver is paying a dividend, indicating the bank had suspended and remained closed under receivership. No run is mentioned and no reopening is reported. Exact year for the October 13 closure inferred as 1931 from the April 1932 article.

Events (4)

1. October 10, 1898 Chartered

Source: historical_nic

2. October 13, 1931 Suspension

Cause Details: Article does not state reason for closure/suspension.
Newspaper Excerpt: The National bank of Sidney, which closed last October 13 began paying a 25 per cent dividend Wednesday.
Source: newspapers

3. October 15, 1931 Receivership

Source: historical_nic

4. April 16, 1932 Receivership

Newspaper Excerpt: The National bank of Sidney ... began paying a 25 per cent dividend Wednesday. A total of about $50,000 will be paid out in this first dividend, according to the bank receiver.
Source: newspapers

Newspaper Articles (1)

1. April 17, 1932 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, April 17, 1932

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Article Text

SIDNEY. SIDNEY. April 16.- The National bank of Sidney, which closed last October 13 began paying a 25 per cent dividend Wednesday. A total of about $50,000 will be paid out in this first dividend, according to the bank receiver. Oscar Finley of Locust Grove Township has come out as candidate for nomination for the office of county auditor on the republican ticket. Hubert Brown, Washington township, also a republican, has added his name to the list of candidates for county supervisor. The democrats of Fremont county honored the memory of Thomas Jefferson with a rally at the county court house Wednesday night. A band from Hamburg furnished music, and the address of the evening was given by N. G. Kraschel of Harlan. Mrs. Mattie Byars, Mrs. Effie Dixon, Mrs. Frank Brandon, Mrs. Ralph Greenwood, Mrs. E. A. Engelke, Mrs. W. E. Oxley, Mrs. Lucretia Birkby, Mr. and Mrs. Clark Howard and Mrs. Hugh S. Jackson drove to Red Oak Thursday to attend the district convention of the Woman's Foreign Missionary society. The senior class of the Sidney high school will present a class play, "His Best Investment." a comedy-drama in three acts, in the high school auditorium Wednesday evening, April 20. Included in the cast are Margaret Bahr, Lucille Van Eaton, June De Val, Carole Estes, Maxine Snell, Don Crawford, Marie Bell, Truman Spencer, Maxine Bliss, Sara Stephens, Harry Porter, Carol Trewet, Merel Richards, Ruth Nichols and Herbert Rumley. The county grade school declamatory contest was held Wednesday evening in the Sidney high school auditorium. Schools contesting were Farragut, Tabor, Thurman, Riverton and Sidney. First place in the oratorical division was won by Lyman Beckett of Farragut, reciting "The Prisoner at the Bar." Second place was won by Martha Weaver of Tabor. First place in dramatic was won by Mary Francis Askew of Thurman, with "Scratch, the Newsboys' Dog." Mildred Polk of Sidney won second place. First place in the humorous division was won by Donald Goode of Tabor with "The Boy at the Circus." Winner of second place was Franklin Palm of Farragut.