Peoples National Bank (Waukon, IA)

View Charter #10207 on SPMC View balance sheet

Episode Information

Episode UID
1020701501
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
102070 national
Charter Number
10207
Start Date
January 24, 1925
Location
Waukon, Iowa (43.269, -91.476)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bca384a0d0d1239f

Response Measures

None

Receivership Details

Depositor recovery rate
64.4%
Date receivership started
1927-07-19
Date receivership terminated
1934-06-05
OCC cause of failure
Other
Share of assets assessed as good
12.4%
Share of assets assessed as doubtful
59.5%
Share of assets assessed as worthless
28.1%

Description

Receiver was appointed for Rossville in the articles; Peoples National was closed by the federal examiner but no receiver is mentioned for it here.

Events (3)
1. June 11, 1912 Chartered
Source
historical_nic
2. January 24, 1925 Suspension
Cause
Government Action
Cause Details
Closed by a federal bank examiner after its cash reserve was found below federal requirements.
Newspaper Excerpt
The Peoples National bank of Waukon was closed late Saturday by federal bank examiner, when was found its cash reserve was below federal requirements.
Source
newspapers
3. July 19, 1927 Receivership
Source
historical_nic

Newspaper Articles (3)
1. January 26, 1925 Iowa City Press-Citizen Iowa City, IA
Article from Iowa City Press-Citizen, January 26, 1925

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Article Text

MURPHY BANKS CLOSED Institutions Founded by ted Waukon Lawyer Without Sufficient Cash Associated Press) WAUKON, Jan. The Peoples National bank of Waukon was closed late Saturday by federal bank examiner, when was found its cash reserve was below federal requirements. A receiver was appointed Saturday for the Bank of Rossville, another Allamakee county bank. was not operating under charter. Both banks were organized by Dennis Murphy, Waukon attorney whose trial on indictments charging embezzlement is scheduled open in district court here tomorrow morning. Two Perry Banks Close PERRY, Ia., Jan. Security Savings Bank closed Its doors here Saturday afternoon. run on the bank followed the closing of the Perry National bank Friday.

2. January 26, 1925 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, January 26, 1925

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Article Text

PEOPLE'S BANK AT WAUKON, SECURITY OF PERRY, CLOSED Waukon. Ia., Jan. Peoples National bank of Waukon closed late Saturday by federal bank aminer, when found its cash reserve was below federal requirements. receiver appointed Saturday for the Bank of Rossville another Allamakee county bank was operating under charter Both banks organized by Dennis Murphy. Waukon attorney. whose on indictments charging embezzle ment scheduled open district court here morning. Run Closes Parry Bank, Perry. Jan. Savings bank closed its doors here Saturday run on bank followed the closing Perry National bank Friday

3. January 27, 1925 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, January 27, 1925

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Article Text

Three Iowa Banks Close Their Doors Waukon, Ia., Jan. 26.—The People's National bank of Waukon was closed late Saturday by a federal bank examiner, when it was found its cash reserve was below federal requirements. A receiver was appointed Saturday for the bank of Rossville, another Altamakee county bank. It was not operating under a charter. Both banks were organized by Dennis J. Murphy, Waukon attorney, whose trial on indictments charging embezzlement is scheduled to open in district court here tomorrow morning. Perry, Ia., Jan. 26.—The Security Savings bank closed its doors here Saturday afternoon. A run on the bank followed the closing of the Perry National bank Friday. For future captains of industry, we must depend upon our present infantry, and we can't produce captains from dirty milk.