First National Bank - Ruthven, IA

Episode Information

Episode UID: 554101621
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 55410 national
Charter Number: 5541
Start Date: January 6, 1935
Location: Ruthven, Iowa (43.129, -94.899)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 11daffeffa5e06ff

Response Measures

None

Receivership Details

Depositor recovery rate: 77.2%
Date receivership started: 1929-05-02
Date receivership terminated: 1935-02-19
OCC cause of failure: Economic conditions
Share of assets assessed as good: 37.5%
Share of assets assessed as doubtful: 62.4%
Share of assets assessed as worthless: 0.1%

Description

Receiver was named for the Ruthven First National; article does not explicitly state a prior suspension.

Events (3)

1. August 17, 1900 Chartered

Source: historical_nic

2. May 2, 1929 Receivership

Source: historical_nic

3. January 6, 1935 Receivership

Newspaper Excerpt: Edward F. Carmody of Graettinger has been named receiver of the First National banks at Emmetsburg, Ayrshire and Ruthven to succeed S. C. Hayes, resigned.
Source: newspapers

Newspaper Articles (1)

1. January 6, 1935 The Sioux City Journal Sioux City, IA

Article Text

Bank Receiver Named Emmetsburg, Ia.—Special: Edward F. Carmody of Graettinger has been named receiver of the First National banks at Emmetsburg, Ayrshire and Ruthven to succeed S. C. Hayes, resigned. He will also have charge of the Security National bank at Milford.