Farmers Savings Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: March 3, 1921
Location: Ulmer, Iowa (42.268, -94.950)

Metadata

Model: gpt-5-mini
Short Digest: 5101a949

Response Measures

Full suspension

Description

Article (NY Herald, Mar 4, 1921) reports Farmers' Savings Bank of Ulmer was overloaned, experienced unexpected withdrawals (a run) and was closed by the State Banking Department (closure announced March 3, 1921). No reopening or receiver mentioned.

Events (2)

1. March 3, 1921 Run

Cause: Bank Specific Adverse Info
Cause Details: Bank was overloaned which precipitated unexpected withdrawals (run).
Newspaper Excerpt: The bank was overloaned and experienced an unexpected withdrawal of deposits, it was said.
Source: newspapers

2. March 3, 1921 Suspension

Cause: Bank Specific Adverse Info
Cause Details: State Banking Department closed the bank after it was found overloaned and following the run.
Newspaper Excerpt: The Farmers' Savings Bank of Ulmer, Iowa, has been closed, the State Banking Department announced to-day.
Source: newspapers

Newspaper Articles (1)

1. March 4, 1921 The New York Herald New York, NY

Article from The New York Herald, March 4, 1921

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Article Text

BANK IN ULMER, IA., CLOSED. Farmers' Savings Is Reported as Overloaned-Suffered Run. DES MOINES, Iowa, March 3.-The Farmers' Savings Bank of Ulmer, Iowa, has been closed, the State Banking Department announced to-day. The bank was overloaned and experienced an unexpected withdrawal of deposits, it was said. It was capitalized for $10,000 and had deposits of $90,000, according to Its last statement.