3885. Peoples State Bank (Winthrop, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1931*
Location
Winthrop, Iowa (42.473, -91.734)

Metadata

Model
gpt-5-mini
Short Digest
33d1b46f

Response Measures

None

Description

Newspapers report the People's State Bank 'closed last December' (article dated 1932-09-02) and thereafter the bank was in receivership with multiple dividends paid and the receiver selling assets through 1934. No article describes a depositor run prior to suspension or any reopening — the bank remained in receivership/closed. Closure month inferred as December 1931 from 'closed last December' in Sept 1932 article; this is noted as an inference.

Events (6)
1. December 1, 1931* Suspension
Cause Details
Article notes the bank had closed but gives no explicit cause for the suspension/closure.
Newspaper Excerpt
The People's State bank, which closed last December, paid its second dividend this week.
Source
newspapers
2. November 15, 1932 Receivership
Newspaper Excerpt
Winthrop Bank's Receiver Buys Hardware Shop ... receiver for the People's State bank bought the W. Miller Hardware stock at auction sale, bidding $2,200 . . .
Source
newspapers
3. January 27, 1933 Receivership
Newspaper Excerpt
state banking department thru the examiner charge of the People's State bank Winthrop, have petitioned the district court here allow the sale Diamond Brothers of the store Main street here now occupied that firm. . . Judge Hasner has Feb. at o'clock as the time for hearing ... will be authorized.
Source
newspapers
4. April 7, 1933 Receivership
Newspaper Excerpt
Application has been made to the Circuit court here by the receiver and examiner in charge of the People's State bank at Winthrop ... for the payment of 10 per cent dividend on depositors claims. This will be the fourth dividend from that institution making total of 50 per cent in the 15 months since the close the bank.
Source
newspapers
5. May 2, 1934 Receivership
Newspaper Excerpt
M. S. Sandvig, examiner in charge of the People's State bank of Winthrop ... filed petition ... to sell ... the Fox house. The petition states that the appraised value of the property $500 and that Ida Hundley has offered $500 cash ... the examiner asks that the court fix time for hearing ... authorize him to accept the offer or higher or better offer if any received.
Source
newspapers
6. May 9, 1934 Receivership
Newspaper Excerpt
V. Sandvig receiver of People's State bank, Winthrop, on Tuesday was by Judge R. W. Hasner of the district court here to sell lots ... to Lena Allen, for $525. This was the best offer made for the property.
Source
newspapers

Newspaper Articles (7)
1. September 2, 1932 The Courier Waterloo, IA
Article from The Courier, September 2, 1932

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Article Text

THIEVES BUSY IN WINTHROP AGAIN Poultry and Fruit Taken From Town Residents; Gasoline Thieves Are Convicted. Courier Special Service) Winthrop, town of Winthrop has again had series thefts. Mrs. Will Schaffer had young fowls stolen one night this week; Mrs. Augusta Lincoln reports theft of her grapes and willful waste, the bunches being strewn the yard and on the porches. Oil and gasoline thefts been common and have resulted in the apprehension the five young men, tenced at Independence this week. The Winthrop school band played at the Manchester fair Thursday and evening. Next week the organization will play at the Buchanan county fair. Tuition in the Winthrop school has been reduced to $2.00 per month each for High and grade school. The People's State bank, which closed last December, paid its second dividend this week. The first payment was 20% and the second one 10%. Stock shipments from Winthrop this week include car of hogs to Waterloo, shipper, M. Collins, and car of cattle to Chicago, Donald Cook, shipper. W. Haas, former vocational agriculture instructor at Winthrop High school, is to be the cattle judge at the Buchanan county fair next week. The Winthrop O. E. S. will resume their meetings Sept. and the members have planned an allday clean-up to take place Wednesday, Sept.

2. November 15, 1932 The Courier Waterloo, IA
Article from The Courier, November 15, 1932

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Article Text

Winthrop Bank's Receiver Buys Hardware Shop Special Winthrop. receiver for the People's State bank bought the W. Miller Hardware stock auction sale. bidding $2,200 The sale includes the implement and storage building

3. January 27, 1933 The Courier Waterloo, IA
Article from The Courier, January 27, 1933

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Article Text

Diamond Bros. May Buy Buchanan Bldg. of Bank Receiver (Courier Special Service) state banking department thru the examiner charge of the People's State bank Winthrop, have petitioned the district court here allow the sale Diamond Brothers of the store Main street here now occupied that firm. $4.000 Judge Hasner has Feb. at o'clock as the time for hearing no objections raised the will be authorized.

4. April 7, 1933 The Courier Waterloo, IA
Article from The Courier, April 7, 1933

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Article Text

BEECHER WILL BE WELLSBURG SPEAKER ON MEMORIAL DAY Service) Wellsburg, Ia.-W. L. Beecher, Waterloo. has engaged to deliver the Memorial day address in Wellsburg on May Olta Tjaden has been appointed town marshal by Mayor C. W. Ross. WINTHROP BANK DIVIDEND. Independence, Application has been made to the Circuit court here by the receiver and examiner in charge of the People's State bank at Winthrop, of Winthrop. for the payment of 10 per cent dividend on depositors claims. This will be the fourth dividend from that institumaking total of 50 per cent the 15 months since the close the bank. HUBBARD BANK DIVIDEND. Ia.-A per cent dividend for closed Hubbard bank will be paid soon, the receiver announces.

5. October 1, 1933 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, October 1, 1933

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Article Text

BANK RECEIVERS PAY $1,231,000 Election Involves More Than Fate of Candidates September Dividends Fight Raises Curtain Listed by Bates. on 1934 State Iowa banks in receivership paid a total of $1,231,927.79 in divi- Campaign. dends during September, the report for the month by D. W. Bates, state superintendent of banking, showed Saturday. Seventeen banks declared dividends during the month. the largest dividend being paid Sept. 15 by the American Savings Bank & Trust Co. of Burtington. The dividend of $430,641.71 amounted to 10 per cent. The second largest dividend amounting to 38 and representing 30 per cent was paid by the Delaware County State bank of Manchester, Sept. 1. Creditors Get Payment. A dividend of 899 85 was paid by the Union Trust & Savings bank of Dubuque in a 10 per cent payment Sept. 20. The greatest percentage of the total deposits in any bank paid in a dividend during the month was 32 per cent paid Sept. 20 by the Peoples Savings bank of Des Moines. The dividend of $50,261.03 differed from the other dividends in that it went to creditors rather than depositors of the bank in connection with the merger of the People's Savings bank with the Bankers Trust Co. several years ago. Called "Satisfactory." Superintendent Bates said the dividend payment record of the one Other dividends paid by Iowa banks in September were: Corn Belt Savings bank, Cedar Rapids, 10 per cent, $60,059.69 Sept. 12; Corley Farmers Savings ers Savings bank. Cushing, 10 per cent, $7,054.64 Sept. 18; Farmers & Merchants Savings bank, Durant, 5 per cent, $40,861.65, Sept. 21. 10 Per Cent at Haskins. Farmers and Merchants Savings bank, Haskins, 10 per cent, $8.274.62, Sept. 25; Farmers & Traders Savings bank, Hillsboro, 15 per cent, $10,972.16, Sept. 19 Citizens Savings bank, Lester, 10 per cent, $18,769.8 Sept. 21. Lockridge State bank. Lock ridge, 10 per cent, $12,878.87 Sept. 21: Monteith Savings bank, Monteith, 15 per cent, $7,314.44 Sept. 22: American Savings bank Muscatine, 5 per cent, $58,519.71 Sept. 25; Thornburg Savings bank, Thornburg, 20 per cent, $11,244.59, Sept. 28. $7,640 at Truro. Truro Savings bank, Truro, 10 per cent, $7,640.90. Sept. 22; Peoples State bank, Winthrop, 10 per cent, 9,846.77 Sept. 28. One of the 17 banks paid its fourth dividend, five paid third dividends and four second dividends.

6. May 2, 1934 The Courier Waterloo, IA
Article from The Courier, May 2, 1934

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Article Text

Winthrop Bank's Receiver Wants to Sell House (Courier Special Independence, Ia.-M. S. Sandvig, examiner in charge of the People's State bank of Winthrop on Tuesday filed petition with the clerk of the district court here on Monday to sell lots and block Winthrop the Fox house. The petition states that the appraised value of the property $500 and that Ida Hundley has offered $500 cash for The examiner asks that the court fix time for hearing on the application authorize him to accept the offer or higher or better offer if any received.

7. May 9, 1934 The Courier Waterloo, IA
Article from The Courier, May 9, 1934

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Article Text

BANK RECEIVER AT WINTHROP TO SELL CITY REAL ESTATE (Courier Special Service) Independence, Ia V. Sandvig receiver of People's State bank, Winthrop, on Tuesday was by Judge R. W. Hasner of the district court here to sell lots one and two of block four in the town of Winthrop, to Lena Allen, for $525 This was the best offer made for the property. FUNERAL AT GREENE. for Robert Francis Hammond, 11-monthold son of Mr. and Mrs. George Hammond, Mason City, were at St Mary's Catholic church here Tuesday. Rev J Drexler officiated Mr. and Mrs Frank DeMar are grandparents of the baby and Mr and Mrs. Joseph Albrecht M all of this place, are great grandpar ents. Burial was in Rosehill Cathocemetery