First National Bank - Villisca, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2766
Charter Number: 2766
Start Date: October 15, 1930
Location: Villisca, Iowa (40.930, -94.976)

Metadata

Model: gpt-5-mini
Short Digest: 5dc3bfea

Response Measures

None

Receivership Details

Depositor recovery rate: 71.0%
Date receivership started: 1930-10-18
Date receivership terminated: 1936-07-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 33.9%
Share of assets assessed as doubtful: 53.8%
Share of assets assessed as worthless: 12.3%

Description

A 1930 newspaper item states the First National Bank of Villisca closed doors Tuesday (Oct 1930). A 1931 article reports a receiver (Carl Foster) appointed for the First National Bank of Villisca. No article describes a depositor run; closure appears to be a suspension leading to permanent closure/receivership.

Events (4)

1. August 11, 1882 Chartered

Source: historical_nic

2. October 15, 1930 Suspension

Cause Details: Article reports the bank closed doors without specifying cause or describing a run or government action.
Newspaper Excerpt: VILLISCA BANK CLOSES. First National bank of Villisca closed doors Tuesday capitalized approximated $800,000.
Source: newspapers

3. October 18, 1930 Receivership

Source: historical_nic

4. September 30, 1931 Receivership

Newspaper Excerpt: Carl Foster, receiver of the First National bank here ... has been appointed receiver of the First National bank of Villisca.
Source: newspapers

Newspaper Articles (2)

1. October 15, 1930 The Courier Waterloo, IA

Article from The Courier, October 15, 1930

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Article Text

Aplington Traffic Officer Arrests Liquor Runner Service) Aplington, man driving light coupe loaded 100 gallons alcohol Aplington Wednesday by Traffic Offiand Black Hawk County Road HarMason. Allison by Deputy Frank Neal. man Chicago out refused arraigned Allison also, having arrested Tuesday evening by of gun club The charge carrying concealed weapons He also had dead pheasant the car. Marino gave $500 cash bond. JEWELL BANK CLOSED Jewell, State Bank Jewell was closed Tuesday order board of directors. Frozen assets prompted the action. which the was taken protect depositors. The bank $200,000 deposit. The Gilbert Knudson, headed State suspended business Monday Knudson cashier the Jewell was capitalized at VILLISCA BANK CLOSES. First National bank of Villisca closed doors Tuesday capitalized approximated $800,000. Fast. president, and Shane, cashier. officers which Villisca's only banking institution. NEBRASKA BANK ROBBED. disquised with mud smeared faces, robbed the bank of Nemaha less than Wednesday caped small auto driven by third confederate.

2. September 30, 1931 The Daily Nonpareil Council Bluffs, IA

Article from The Daily Nonpareil, September 30, 1931

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Article Text

FOSTER IS RECEIVER FOR VILLISCA BANKER Special to The Nonpareil. SHENANDOAH Ia., Sept. 30 Carl Foster, receiver of the First National bank here and banks in Randolph, Coin. Malvern, Clarinda and Plattsmouth, Neb., has been appointed receiver of the First Na. tional bank of Villisca. Foster succeeds W. R. Payne, who has been transferred to St. Joseph, Mich. Mr. Foster, who was injured in an automobile accident near Clarinda Saturday afternoon, is confined to his apartment. When his car turned over three times, as he jammed on his brakes to avoid a collision, Mr. Foster was injured about the head, arm and foot.