First National Bank - Hedrick, IA

Episode Information

Episode Type: Suspension → Closure
Start Date: February 13, 1925
Location: Hedrick, Iowa (41.173, -92.309)
Bank Type: national
Charter Number: 5540

Metadata

Episode ID
Bank ID
City ID: 190457375

Model: gpt-5-mini
Short Digest

Receivership Details

Depositor recovery rate: 0.6%
Date receivership started: 1925-04-24
Date receivership terminated: 1933-05-22
OCC cause of failure: Losses
Share of assets assessed as good: 2.1%
Share of assets assessed as doubtful: 48.1%
Share of assets assessed as worthless: 49.8%

Notes

Article reports bank failed to open Feb 13, 1925; separate records indicate receivership 1925-04-24.

Events (4)

1. August 16, 1900 Chartered

Source: historical_nic

2. February 13, 1925 Suspension

Cause Details: Article states banks failed to open and were closed temporarily; no cause given in text.
Newspaper Excerpt: HEDRICK BANK FAILS TO OPEN First National Bank of Hedrick and the Hedrick Savings Bank. their doors this morning. It announced that the bank- are clo ed temporarily and a sign on the door
Source: newspapers

3. April 24, 1925 Receivership

Source: newspapers

4. April 24, 1925 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 13, 1925 Iowa City Press-Citizen Iowa City, IA

Article from Iowa City Press-Citizen, February 13, 1925

Click image to open full size in new tab

Article Text

HEDRICK BANK FAILS TO OPEN

First National Bank of Hedrick and the Hedrick Savings Bank. their doors this morning. It announced that the bank- are clo ed temporarily and a sign on the door 30 states

GAS PRICES JUMP DES MOINES-Gasoline prices in Des Moines and most cities per gallon. The price in