First National Bank (Webster City, IA)

View Charter #1874 on SPMC View balance sheet

Episode Information

Episode UID
187401595
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
18740 national
Charter Number
1874
Start Date
November 30, 1932
Location
Webster City, Iowa (42.469, -93.816)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8959723d975b3b75

Response Measures

None

Receivership Details

Depositor recovery rate
51.3%
Date receivership started
1932-11-30
Date receivership terminated
1937-12-31
Share of assets assessed as good
10.4%
Share of assets assessed as doubtful
75.2%
Share of assets assessed as worthless
14.4%

Description

Bank is already in receivership (known government receivership); articles describe receiver actions after closure.

Events (4)
1. September 8, 1871 Chartered
Source
historical_nic
2. November 30, 1932 Receivership
Source
historical_nic
3. November 30, 1932 Receivership
Newspaper Excerpt
Bailey, receiver of the closed First National bank, has refused to accept the balance of money...; receiver for State National bank ... transferred to Webster City take affairs First National bank
Source
newspapers
4. November 30, 1932 Suspension
Cause
Government Action
Cause Details
Bank was closed and placed in receivership (receiver administering assets)
Newspaper Excerpt
receiver of the closed First National bank
Source
newspapers

Newspaper Articles (3)
1. December 8, 1932 The Courier Waterloo, IA

Article Text

Bank Receiver at Iowa Falls Goes to Webster City Iowa ceiver for State National bank for several transferred Webster City take affairs First National bank that Mr. Bailey before Iowa W. Pyle The receiver for here had named Thursday rumored that State National bank will 25 per cent dividend early in

2. January 15, 1933 The Des Moines Register Des Moines, IA

Article Text

Bank Receiver Won't Accept $10 for Chattel Register's WEBSTER CITY, Bailey, receiver of the closed First National bank, has refused to accept the balance of money received from the Tuesday the Bascom Huddlestun farm. After expenses and several liens were satisfied. there was only left out of the $106 derived from the sale. Only one bid on articles covered by the chattel mortgage; there more than 500 persons present.

3. June 6, 1934 Des Moines Tribune Des Moines, IA

Article Text

Estate Authorized To Take Settlement FORT DODGE, E. Fry Wednesday authorized the estate of Ludwig Larson to accept $1,100 in settlement of claim against the receiver of the First National bank of Webster City, growing of Larson's accidental death. Larson was killed Apr when was struck by car driven Wenner, an employe of the bank receiver.