First National Bank - Stanton, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6434
Charter Number: 6434
Start Date: February 1, 1933*
Location: Stanton, Iowa (40.982, -95.104)

Metadata

Model: gpt-5-mini
Short Digest: 6b455ba9

Response Measures

None

Receivership Details

Depositor recovery rate: 93.3%
Date receivership started: 1933-10-30
Date receivership terminated: 1937-12-31
Share of assets assessed as good: 46.0%
Share of assets assessed as doubtful: 48.6%
Share of assets assessed as worthless: 5.4%

Description

Article (Omaha Morning Bee-News, 1933-11-02) reports the Stanton First National Bank had closed in February (year implied 1933) and that Oscar Helgerson was appointed to liquidate the bank in November 1933. The article does not describe a depositor run or the cause of the earlier closure; liquidation/receiver appointment confirms permanent closure.

Events (4)

1. September 23, 1902 Chartered

Source: historical_nic

2. February 1, 1933* Suspension

Cause Details: Bank closed in February; article gives no reason for the suspension/closure.
Newspaper Excerpt: Deposits before the bank closed in February were $381,810.47.
Source: newspapers

3. October 30, 1933 Receivership

Source: historical_nic

4. November 2, 1933 Receivership

Newspaper Excerpt: Oscar Helgerson of Red Oak has been appointed of the Stanton First National bank of Stanton and will start liquidating assets immediately.
Source: newspapers

Newspaper Articles (1)

1. November 2, 1933 The Omaha Morning Bee-News Omaha, NE

Article from The Omaha Morning Bee-News, November 2, 1933

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Article Text

HELGERSON TO LIQUIDATE CLOSED STANTON BANK RED OAK, Ia., Nov. -Oscar Helgerson of Red Oak has been appointed of the Stanton First National bank of Stanton and will start liquidating assets immediately Deposits before the bank closed in February were $381,810.47.