First National Bank - Webster City, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1874
Charter Number: 1874
Start Date: December 8, 1932
Location: Webster City, Iowa (42.469, -93.816)

Metadata

Model: gpt-5-mini
Short Digest: 24f6bf35

Response Measures

None

Receivership Details

Depositor recovery rate: 51.3%
Date receivership started: 1932-11-30
Date receivership terminated: 1937-12-31
Share of assets assessed as good: 10.4%
Share of assets assessed as doubtful: 75.2%
Share of assets assessed as worthless: 14.4%

Description

Newspaper articles (Dec 1932–June 1934) indicate the First National Bank of Webster City was closed and a receiver was appointed. No article describes a depositor run; events show suspension/closure and receivership. Dates are taken from publication dates when the action is reported.

Events (5)

1. September 8, 1871 Chartered

Source: historical_nic

2. November 30, 1932 Receivership

Source: historical_nic

3. December 8, 1932 Suspension

Cause: Government Action
Cause Details: Receiver from Iowa Falls was transferred to take charge of First National Bank, indicating closure by regulatory/receivership action
Newspaper Excerpt: Bank Receiver at Iowa Falls Goes to Webster City ... transferred Webster City take affairs First National bank
Source: newspapers

4. January 15, 1933 Receivership

Newspaper Excerpt: Register's WEBSTER CITY, Bailey, receiver of the closed First National bank, has refused to accept the balance of money received ... from the sale ... of the Bascom Huddlestun farm.
Source: newspapers

5. June 6, 1934 Other

Newspaper Excerpt: Estate Authorized To Take Settlement ... authorized the estate of Ludwig Larson to accept $1,100 in settlement of claim against the receiver of the First National bank of Webster City ... Larson was killed Apr ... when was struck by car driven Wenner, an employe of the bank receiver.
Source: newspapers

Newspaper Articles (3)

1. December 8, 1932 The Courier Waterloo, IA

Article from The Courier, December 8, 1932

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Article Text

Bank Receiver at Iowa Falls Goes to Webster City Iowa ceiver for State National bank for several transferred Webster City take affairs First National bank that Mr. Bailey before Iowa W. Pyle The receiver for here had named Thursday rumored that State National bank will 25 per cent dividend early in

2. January 15, 1933 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, January 15, 1933

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Article Text

Bank Receiver Won't Accept $10 for Chattel Register's WEBSTER CITY, Bailey, receiver of the closed First National bank, has refused to accept the balance of money received from the Tuesday the Bascom Huddlestun farm. After expenses and several liens were satisfied. there was only left out of the $106 derived from the sale. Only one bid on articles covered by the chattel mortgage; there more than 500 persons present.

3. June 6, 1934 Des Moines Tribune Des Moines, IA

Article from Des Moines Tribune, June 6, 1934

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Article Text

Estate Authorized To Take Settlement FORT DODGE, E. Fry Wednesday authorized the estate of Ludwig Larson to accept $1,100 in settlement of claim against the receiver of the First National bank of Webster City, growing of Larson's accidental death. Larson was killed Apr when was struck by car driven Wenner, an employe of the bank receiver.