Confidence State Savings Bank

Episode Information

Episode UID: 72200871627
Episode Type: Suspension → Closure
Bank Type: savings
Bank ID: 7220087 routing
Routing Number: 72-2008
Start Date: July 16, 1935
Location: Confidence, Iowa (40.863, -93.125)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 47c0fe19978f9f9c

Response Measures

None

Description

Bank voluntarily closed and is paying depositors in full; no run reported.

Events (1)

1. July 16, 1935 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank voluntarily closed and notified depositors to call for deposits; paying depositors 100 cents on the dollar.
Newspaper Excerpt: The Confidence State Savings bank of Confidence, Ia., voluntarily is closing and has issued notice to all depositors to call for their deposits.
Source: newspapers

Newspaper Articles (1)

1. July 16, 1935 Des Moines Tribune Des Moines, IA

Article Text

Confidence Bank Pays What's in a Name? (The Tribune's Iowa News Service.) CORYDON, IA.—What's in a name? The Confidence State Savings bank of Confidence, Ia., voluntarily is closing and has issued notice to all depositors to call for their deposits. Withdrawals are being made reluctantly. Accounts ranging from 9 cents to $750, totaling $6,000, still remain. The bank was organized May 4, 1920, with a capital of $25,000 and surplus of $2,500. D. C. Bradley of Centerville, Ia., was the first president. At his death his son, W. S. Bradley, became president and in 1929, A. W. Robertson of Confidence was elected president, acting until his death a year ago. Situated in a little town with a population of 75 and said to be the only bank in the state where there is no postoffice or railroad, its strength and success has been unusual. It has never had a run. During the bank failures in 1929 and following the deposits increased. Many customers have praised the judgment of J. L. Frame, 66, and Homer Robertson, 34, the cashier and assistant cashier during the entire 15 years. Robertson modestly says, "It is level headed depositors that make a sound bank." "The depositors will receive 100 cents on a dollar and their is a surplus to be divided among the stockholders," Frame said.