First National Bank (Eldora, IA)

View Charter #5140 on SPMC View balance sheet

Episode Information

Episode UID
514001212
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
51400 national
Charter Number
5140
Start Date
December 25, 1900
Location
Eldora, Iowa (42.361, -93.100)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a5192a500acd159f

Response Measures

None

Receivership Details

Depositor recovery rate
81.8%
Date receivership started
1932-08-10
Date receivership terminated
1936-10-29
Share of assets assessed as good
34.2%
Share of assets assessed as doubtful
60.3%
Share of assets assessed as worthless
5.6%

Description

Article 1 describes a 'run' that was actually a promotional event for children, not a financial panic. The bank later closed in July 1932.

Events (6)
1. September 12, 1898 Chartered
Source
historical_nic
2. December 25, 1900 Run
Cause
Rumor Or Misinformation
Cause Details
A promotional event where the bank gave presents to four hundred children was jokingly or mistakenly called a run.
Random Run
Yes
Random Run Snippet
Four Hundred Children Given Presents by an Eldora Bank; cry of run was heard
Measures
The bank opened its doors to distribute presents to the children.
Newspaper Excerpt
A run on the First National bank, of this city was the cry that was heard at an early hour yesterday morning. About 8 o'clock the doors of the bank were thrown open and a pushing. jostling and eager crowd of zeveral hundred were soon in line.
Source
newspapers
3. July 21, 1932 Suspension
Cause Details
The bank closed during the Great Depression era; specific trigger not mentioned.
Newspaper Excerpt
since the closed July 21.
Source
newspapers
4. August 10, 1932 Receivership
Source
historical_nic
5. November 16, 1932 Receivership
Newspaper Excerpt
BANK RECEIVER AT ELDORA HAS $60,000 WAITING CLAIMANTS claimed accounts the closed First National bank here
Source
newspapers
6. February 9, 1933 Other
Newspaper Excerpt
issuance of checks for 35 per cent dividend by the First National bank
Source
newspapers

Newspaper Articles (5)
1. December 26, 1900 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, December 26, 1900

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Article Text

RUN ON A BANK. Four Hundred Children Given Presents by an Eldora Bank, Special to Times-Republican. Eldora, Dec. 26.-A run on the First National bank, of this city was the cry that was heard at an early hour yesterday morning. About 8 o'clock the doors of the bank were thrown open and a pushing. jostling and eager crowd of zeveral hundred were soon in line. Your correspondent hastened to the place, attracted by the hurrying throngs and gathering crowd and anxious to see how the officials of a bank conducted themselves under such conditions. President J. H. Bales, Cashier W. J. Murray, Bookkeeper W. E. Rathbone and Assis-

2. November 16, 1932 The Courier Waterloo, IA
Article from The Courier, November 16, 1932

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Article Text

BANK RECEIVER AT ELDORA HAS $60,000 WAITING CLAIMANTS claimed accounts the closed First National bank here awaits 203 depositors who as yet have shown no disposition to get their money, cording to Richards Claims must be filed before Dec. order to participate in the first dividends. RELIEF CORPS GIVES PROGRAM AT GRUNDY CENTER HALL Grundy Center, transacting their regular business Tuesday members of the Women's Relief corps gave two-act entitled Heathens was about visitors. Light refreshments followed

3. February 9, 1933 The Courier Waterloo, IA
Article from The Courier, February 9, 1933

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Article Text

Banks at Eldora to Pay Dividends Special Service) Eldora, Ia.-Payment of the second dividend by First Trust & Savings bank of Eldora, now in process of liquidation, will be announced immediately following the issuance of checks for 35 per cent dividend by the First National bank, attorneys for Porter. receiver of the trust bank, announce. The payment will release at least $15,000 to depositors in that institution and is possible that the dividend may be greater than 10 per cent. first dividend of 20 per cent was paid early in by the Trust bank at that time releasing nearly $33,000. Payment of two dividends will bring total to local depositors the two banks to approximately $170,000. since the closed July 21.

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

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Article Text

Woman Claims Bank Receiver Is Forcing Her to Hoard Gold Eldora. unusual action has been brought against R. Richards, receiver for First National bank, by Mrs. Beulah Classen, who charges the receiver has consistently refused safety deposit box, which she had rented from the bank prior to the Mrs. asks $800 actual damages, which the value the contents of the box, and 000 punitive damages. Part of the charge states that she has been made violator President Roosevelt's proclamation requiring all gold to be turned over to the government as the box tains number of gold pieces and other family to her safety box, she is unable to comply ruling, she says.

5. August 8, 1933 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, August 8, 1933

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Article Text

Names Wolf Receiver For Two Iowa Banks WASHINGTON D. Congressman A. Willford announced the appointment of D. Wolf of Hampton to be receiver for the First National bank Ackley, Ia., and the First National bank of Eldora, Ia., placing Richards