Peoples National Bank (Waukon, IA)

Episode Information

Episode UID
1020701530
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
102070 national
Charter Number
10207
Start Date
June 28, 1927
Location
Waukon, Iowa (43.269, -91.476)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b68337c122ebdc1d

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

Articles give two close closure dates (June 27 vs. June 28 1927) but clearly show long receivership and eventual sale of assets.

Events (5)

1. June 11, 1912 Chartered
Source
historical_nic
2. June 28, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed and placed under a receiver likely due to insolvency/financial failure (articles report closure and receivership).
Newspaper Excerpt
BANK RECEIVER ARRIVESWaukon Mr. N. W. Irvin rived Friday to take charge of the Peoples National bank that closed June 28.
Source
newspapers
3. July 19, 1927 Receivership
Source
historical_nic
4. July 19, 1927 Receivership
Newspaper Excerpt
BANK RECEIVER ARRIVESWaukon Mr. N. W. Irvin rived Friday to take charge of the Peoples National bank that closed June 28. There are several pos sibilities for restoration of the bank.
Source
newspapers
5. November 2, 1933 Other
Newspaper Excerpt
Remaining assets of the two closed banks, the People's National and the First National, which have been under receivership for several years, were sold at auction Tuesday.
Source
newspapers

Newspaper Articles (2)

Article from The Des Moines Register, July 25, 1927

Click image to open full size in new tab

Article Text

from EVERY PLAN NEW LIGHTS- county. The south river has Iowa for the straigntened all the way through establishment of electro- the county and hundreds of new lighting on the main farm lands have been relier of Iowa City at claimed. tained necessity by the Iowa City counConsideration of the resolution will be held at meeting of the council on Aug. 12. BANK RECEIVER ARRIVESWaukon Mr. N. W. Irvin rived Friday to take charge of the Peoples National bank that closed June 28. There are several pos sibilities for restoration of the bank. FACES THEFT CHARGEOskaloosa Henderson of this hearing county jail on chicken Henderson was picked up by officers local produce house the act of disposing chicks identified by Mrs. Arthur Stoval as those stolen from her farm lot northwest of here. TEACHER GETS LEAVEIowa City E. Partington has been granted four months leave absence to enter the ice of the Institute of Economics, Washington. He has been assist ant of statistics in the college of commerce University of Iowa since 1922. O. K. LOW CONTRACTPocahontas special election to ratify for electric between the Public Service company. and Pocahontas, carried vote of 12. The Fonda recently approved contract by vote nineto and Pomeroy ratified one by vote of 54 to LIGHTNING HITS saying lightning never strikes in the same place' disputed by the Risney home in was hit times during the which Thursday's storm The first belt entered the house though radio and the second hit the broken aerial and burned hole in the roof. ISSUE 106 LICENSESRock RapidsRegers has issued 106 hunting and since the day when fiscal year for such licenses began. SEND CHILDREN TO HOMEAlta- four small children of Mrs. Addie Williams been sent to Soldiers' Orphans home at by Judge James sitting in juvenile court. The who divorced husband some time admitted in open court that she could not support them. ENSIGN Iowa Forest C. Enwho has been an exchange professor at the University of Bristol, England, while half of absence from his office here yes. terday resume his in the education for the ond term of the summer session It's regular storm! And laugh at little Junior with dozens of freckles on his dirty Nittle has stowed because his aunt is pa and ma to him and he big Junior has win the deck riding old GO TO CAMPCarroll Boy Scouts, under the leadership will Scoutmaster begin the annual camping period today at Three Link three miles south Lake City. The camp period will Harry until Wednesday Merton and Gurney Day Sloux City will assist the scoutin When comes the Yan- master. 100 miles behind the other suffiand BRUISED BY AUTOboat. lacking Miller of water to carry her on. but cient right here this received severe on she and possibly other injuries where the come she was and knocked always has been miniature war on deck, but this the automobile IS mutiny! In addition to the feature picGang shows how STRAIGHTEN Straightening of third July in Oskaloosa celebrate en- south Skunk river through Fourth of July Don't you fellows? county completed those "ornery" little friend day when the Farina girl of news in district Sandard the FOR RELIEFDecorah- treasurer of the Winneshiek Red Cross has made report that this county has collected and sent the Mississippi flood sufferers the total of The first quota $500 and this was raised $1,000. $152.75 AN ACRESioux City Woodbury county farm land sold last year at an average price of an according report compiled by R. Miller. tax commissioner the Chicago & North Western


Article Text

BANK BUILDING IS SOLD AT AUCTION FOR 1-10 ITS VALUE Remaining Assets of Two Waukon Banks Disposed of at Sale WAUKON, Ia. โ€” (Special.) โ€” Remaining assets of the two closed banks, the People's National and the First National, which have been under receivership for several years, were sold at auction Tuesday. The auctions were conducted by J. P. Rigler, receiver in charge. The assets of the People's National bank included the bank building, the value of which is estimated at about $70,000. There were several bidders, but the highest bid was $7,521 made by G. B. Richter, who represented several Waukon men, namely: G. A. Hansmeier, Sherman Hart, J. H. Hager, D. Schwartz, Ludvig Larson, H. Halhlen, John Dotseth and F. H. Lee. The bidding was contested principally between them and Thomas Bakewell of Lansing. The bank closed June 27, 1927. Edward Roach of Jefferson township was the successful bidder on the assets of the First National bank, which were sold for $4,620. This bank suspended business on Nov. 28, 1925. Survey for Dam Engineers employed by the state have been in this vicinity of Harpers Ferry the past week preparing plans for the building of the dam and lock across from that place to Lynxville, Wis., as one of the steps in the nine-foot channel. The contract will be let on Nov. 16. The location for the dam on the Iowa side will be about three miles above Harpers Ferry. On the Wisconsin side the location will be the Cava farm, the oldest settled piece of land in that locality.