First National Bank

Episode Information

Episode UID: 460901271
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 46090 national
Charter Number: 4609
Start Date: November 9, 1905
Location: Tabor, Iowa (40.898, -95.671)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: fe34e05a38f78c3b

Response Measures

None

Receivership Details

Depositor recovery rate: 44.1%
Date receivership started: 1927-09-14
Date receivership terminated: 1929-09-30
OCC cause of failure: Losses
Share of assets assessed as worthless: 100.0%

Description

Article focuses on a related State Bank scandal; the First National is mentioned only in connection with reopening/assistance and details are ambiguous.

Events (4)

1. August 3, 1891 Chartered

Source: historical_nic

2. November 9, 1905 Suspension

Cause: Local Banks
Cause Details: Distress at the State Bank of Tabor (cashier's peculations) and related local banking arrangements led to the First National's announced reopening being delayed.
Newspaper Excerpt: Delay of State Auditor Carroll in authorizing the proposed 100 per cent assessment, together with a hitch in getting expected financial assistance from the First National bank at Tabor not to reopen yesterday as announced.
Source: newspapers

3. December 15, 1925 Voluntary Liquidation

Source: historical_nic

4. September 14, 1927 Receivership

Source: historical_nic

Newspaper Articles (1)

1. November 9, 1905 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, November 9, 1905

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Article Text

I For Honor of the Family Name e Relatives Will Make Good 1 Cashier's Peculations 1 NOT TO SAVE PROSECUTION. Specific Statement Made in the Agreement to the Effect That the Money Is Not Paid to Protect Claud H. Dye From the Consequences of ActOther News of State. 1 Council Bluffs, Nov. 9.-Specifying particularly that it was for the honor of the family name and not to affect possible criminal prosecution, Sylvester Dye and Willoughby Dye have signed an agreement to pay every dollar involved in Claude H. Dye's peculations as vice president of the State t bank of Tabor, amounting to $53,000. Certified checks for the bank's shortage of $13,000 were turned over to the directors, who came here to discuss the question of a settlement. Delay of State Auditor Carroll in 1 authorizing the proposed 100 per cent assessment, together with a hitch in getting expected financial assistance from the First National bank at Tabor not to reopen yesterday as announced. The 100 per cent assessment is for the purpose of creating a $25,000 cash fund to meet a possible run at the opening of the bank. The directors and some of the prinr cipal creditors of the bank held a meeting at Council Bluffs yesterday e and an agreement was reached to use all possible endeavor to prevent a run on the bank at the opening, which will probably occur Friday morning. Arrangements have been made with Council Bluffs banks for funds to prevent a run. President Barnes of the Tabor State bank was badly hurt Tuesday night in a runaway and this is given as one of the reasons for the bank not opening Wednesday. He had three ribs broken and was otherwise severely bruised.