Security National Bank (Cherokee, IA)

Article Text

Bank Situation Improves CLOSED IOWA BANKS NOT IN TABLE. Note—Prior to 1923, bank failures were rare and when a state supervised bank occasionally suspended business a receiver for it was appointed by a district court, as receivers are still appointed for private and national banks. No systematic records were kept by any state official, such as are now kept, for banks which failed prior to 1923, hence the information about the state supervised banks listed here is not readily available as for the banks closed after 1922. For the same reason information concerning closed national and private banks was not available for the table. The list of banks closed but not in the table, from 1918 to June 30, 1922, is as follows: 1918. STATE BANKS. Town. Name of bank. Capital. Date closed. Conway ..... Conway Savings ........ $ 20,000 May, 1918 PRIVATE BANKS. Cedar ...... Cedar Bank ............ $ 10,000 Dec., 1918 YEAR ENDING JUNE 30, 1920. STATE BANKS. Carroll ..... Carroll T. & S. ........ $ 50,000 Apr. 24, 1919 Decatur ..... Decatur State Savings .... 25,000 May 9, 1919 Hartley ..... Iowa Savings ........... 30,000 June 27, 1919 YEAR ENDING JUNE 30, 1921. STATE BANKS. aAnita ...... Citizens Savings ........ $ 50,000 May 13, 1921 Braddyville .. Farmers Savings ........ 25,000 Nov. 5, 1920 Clarinda .... Clarinda T. & S. ........ 75,000 Dec. 6, 1920 bElliott ..... Elliott Savings ......... 25,000 June 22, 1921 Harper ...... Farmers Savings ........ 15,000 Mar. 11, 1921 Marathon .... Marathon Savings ........ 40,000 April 25, 1921 Onawa ....... Citizens State .......... 30,000 April 29, 1921 Rome ........ Rome Savings ........... 12,500 Mar. 23, 1921 Sioux City ... Union T. & S. .......... 100,000 Feb. 16, 1921 Ulmer ....... Farmers Savings ........ 10,000 Mar. 1, 1921 PRIVATE BANKS. Jefferson .... City Bank ............... July 20, 1920 Armstrong ... Emmet County bank ....... Dec. 22, 1920 Percival .... Percival bank ........... Dec. 28, 1920 Davis City ... Valley bank ............. April 11, 1921 Lawton ...... Farmers bank ............ April 14, 1921 NATIONAL BANKS. Emmetsburg .. Emmetsburg National ... $ 50,000 March 1, 1921 cMilford ..... Milford National ........ 25,000 April 13, 1921 Marcus ...... First National .......... 50,000 April 14, 1921 aReopened as Citizens State. bReopened as Farmers State. cReorganized as Security National. YEAR ENDING JUNE 30, 1922. STATE BANKS. Bevington .... Bevington Savings ..... $ 10,000 Curlew ...... Citizens Savings ........ 15,000 Nov. 25, 1921 Harris ...... Harris Savings .......... 30,000 Oct. 25, 1921 aLamont ..... Farmers Savings ........ 15,000 Sept. 22, 1921 bMassena .... Massena Savings ........ 20,000 April 1, 1922 North Liberty North Liberty Savings .. 10,000 Aug. 22, 1921 Melcher ..... Melcher State .......... 25,000 May 20, 1922 Oto ......... State Bank of Oto ...... 25,000 Dec. 7, 1921 Sioux City ... American Savings ....... 50,000 Nov. 5, 1921 Swaledale .... Swaledale Savings ...... 15,000 Sept. 14, 1921 aReopened as Farmers State. bReopened as Massena State. PRIVATE BANKS. Grafton ...... Farmers Exchange Bank Sept. 19, 1921 NATIONAL BANKS. aCherokee ... Security National ...... $ 50,000 Feb. 11, 1922 bJefferson ... Farmers and Merchants .. 40,000 June 30, 1922 aReopened. bReopened. far been held at a net cost of $184,000. The receiver is confident that this loss will more than be offset by receipts from sales of properties at advantageous times and the report states that had not the advances been made the assets would have been lost to creditors.