3833. Tipton National Bank (Tipton, IA)

View Charter #13232 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
13232
Charter Number
13232
Start Date
September 2, 1931
Location
Tipton, Iowa (41.770, -91.128)

Metadata

Model
gpt-5-mini
Short Digest
93866c74

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

A discrete run occurred after the neighboring Farmers and Merchants bank failed to open. Tipton National met demands, was placed under armed guard, and funds began returning the next day; there is no mention of suspension or closure.

Events (3)
1. August 20, 1928 Chartered
Source
historical_nic
2. September 2, 1931 Run
Cause
Local Banks
Cause Details
Run was triggered by the failure/closing of the Farmers and Merchants bank to open its doors the previous day.
Measures
Met all demands for withdrawals; bank placed under armed guard day and night.
Newspaper Excerpt
run on the Tipton National bank Wednesday, when approximately $35,000 was distributed in withdrawals without injuring the condition of the institution
Source
newspapers
3. June 8, 1933 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. September 4, 1931 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, September 4, 1931

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Article Text

Bank on When Depositors' the closing Farmers and ants Savings bank Wednesday morning was started on Tipton National bank. Plencash was hand and demands the depositors promptly. was withdrawn before the panic subsided. some those who had withdrawn their funds began redeposit. By late the the run ceased entirely there have been since that time. the other hand the money withdrawn being slowly returned to the bank.

2. September 4, 1931 Quad-City Times Davenport, IA
Article from Quad-City Times, September 4, 1931

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Article Text

RUN ON TIPTON BANK IS ENDED; CASH RETURNED National Bank Meets Demands Following Closing of Neighbor. Tipton, Ia., Sept. 4.-Following "run" on the Tipton National bank Wednesday, when approximately $35,000 was distributed in withdrawals without injuring the condition of the institution, confidence Kegs in the bank was renewed, and cash started to return Thursday. The "run" on the bank resulted from the failure of the Farmers and Merchants bank to open its doors Tuesday. The Tipton National is under armed guard day and night.