gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
73e5a08888d05241
Response Measures
None
Events (3)
1.February 18, 1926Suspension
Cause
Government Action
Cause Details
State superintendent of banking appointed receiver and took charge of the closed state bank under Iowa law.
Newspaper Excerpt
Under the Iowa law the state superintendent of banking becomes receiver of all closed state banks.
Source
newspapers
2.November 24, 1926Other
Newspaper Excerpt
Bert examiner in charge closed banks in Black Hawk ... farming for the benefit the Waterloo Bank and Trust company ... land was taken over the banks when borrowers failed to pay
Source
newspapers
3.April 5, 1927Receivership
Newspaper Excerpt
Cash receipts amounting to $77,306.23 were received by Bert McCulloch examiner in charge of the Waterloo Bank & Trust Co., according to statement in his ninth quarterly report
Source
newspapers
Newspaper Articles (3)
1.February 18, 1926The CourierWaterloo, IA
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Article Text
COURT ALLOWS OVERHEAD CLAIM BY BANK RECEIVER
Approval of the district court was granted late yesterday on application of the state superintendent, of banking for pro rata overhead of the receiverships in connection with the Waterloo Bank & Trust Co. An allowance of $297 22 for November, December and January is granted, to be paid out of the funds in the hands of the receiver of the Waterloo Bank & Trust Co. The total overhead in the office of the state banking superintendent in Des Moines for.the three months was $8,113.18. Under the Iowa law the state superintendent of banking becomes receiver of all closed state banks.
2.November 24, 1926The Des Moines RegisterDes Moines, IA
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Article Text
BANK RECEIVER HAS CHARGE OF SEVERAL FARMS
News Waterloo. Ia. Nov. 23 Bert examiner in charge closed banks in Black Hawk the county's 'biggest farmers. He farming for the benefit the aterloo Bank and Trust company and the HudSavings bank Practically every acre is being farmed. said today and land is paying its while values have tendency to
These lands are chiefly in farms and 160 One contains They are located in Black Story and Floyd counties The land operated on a cash rent land was taken over the banks when borrowers failed to pay most of which were negotiated at the peak of land are keeping the buildings insured and and fertility the by furnishing tenants clover said McCulloch farmer on his account Wayne county, where he land in the borhood of banker adult and for last five years has with the state banking debeen partment.
3.April 5, 1927The CourierWaterloo, IA
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Article Text
BANK RECEIVER HERE HAS $77,306 REVENUE IN 3-MONTH PERIOD
Cash receipts amounting to $77. 306.23 were received by Bert Mc. Culloch examiner in charge of the Waterloo Bank & Trust Co., according to statement in his ninth quarterly report for the period from 31. 1926. to March 31, 1927 Disbursements in the same time Two farms were sold in the pe riod named for and the bank has other real estate valued at The report shows a balance of $355,363.25 on hand on March 31, distributed as follows: Cash in hands of the examiner. $98 divi tional bank. 892 Des Moines Commercial of this amount 439 63 belongs to the stock assessment count. the examiner explains.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
