State Trust & Savings Bank - Mount Pleasant, IA

Episode Information

Episode UID: 72206971610
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7220697 routing
Routing Number: 72-2069
Start Date: February 3, 1934
Location: Mount Pleasant, Iowa (40.964, -91.558)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: f7abba7fe36c2d96

Response Measures

None

Description

Receiver already in place and suing for shortages; president had committed suicide after resigning.

Events (2)

1. February 3, 1934 Receivership

Newspaper Excerpt: Recovery of $15,680 Shortage Sought. ... mount is requested to cover alleged shortages which the receiver, D. W. Bates, state superintendent of banking, charges occurred
Source: newspapers

2. February 3, 1934 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged shortages while employees were employed; indictments of employees and suicide of president after resigning
Newspaper Excerpt: receiver of the State Trust and Savings bank ... amount is requested to cover alleged shortages which the receiver, D. W. Bates, state superintendent of banking, charges occurred
Source: newspapers

Newspaper Articles (1)

1. February 3, 1934 The Des Moines Register Des Moines, IA

Article from The Des Moines Register, February 3, 1934

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Article Text

BANK RECEIVER SUES BOND FIRM Recovery of $15,680 Shortage Sought. MOUNT PLEASANT ment of $15,680 is sought by the receiver of the State Trust and Savings bank from the United States Fidelity and Guaranty Co. suit filed here Friday. The amount is requested to COVer alleged shortages which the receiver. D. W. Bates. state superintendent of banking. charges OCcurred while E. C. Huene, E. E. Phelps and Waldo Phelps were employed in the bank. Huene and Waldo Phelps are under indictment in connection with the shortages. Phelps' father. E. E. Phelps, committed suicide after resigning as president of the bank.