First National Bank - Marshalltown, IA

Episode Information

Episode UID: 41101373
Episode Type: Run → Suspension → Unsure
Bank Type: national
Bank ID: 4110 national
Charter Number: 411
Start Date: May 16, 1914
Location: Marshalltown, Iowa (42.049, -92.908)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: ac0ef2a5d9664e0b

Response Measures

Full suspension

Receivership Details

Depositor recovery rate: 83.5%
Date receivership started: 1928-06-11
Date receivership terminated: 1932-12-31
Share of assets assessed as good: 49.3%
Share of assets assessed as doubtful: 43.8%
Share of assets assessed as worthless: 6.9%

Description

Article states run closed the bank's doors but gives no clear follow-up on reopening.

Events (4)

1. May 3, 1864 Chartered

Source: historical_nic

2. May 16, 1914 Run

Cause: Bank Specific Adverse Info
Cause Details: Withdrawals triggered by concerns about certain slow assets on the bank's books.
Measures: Bank closed its doors; officials pledged to pay depositors in full.
Newspaper Excerpt: Ben Newcomb, cashier of the First National Bank, said that bank officials confidently expected to pay every depositor 100 per cent. He declared that certain slow assets were the primary cause of the run.
Source: newspapers

3. May 16, 1914 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended operations following the run precipitated by worries over slow assets.
Newspaper Excerpt: which resulted in the closing of the bank's doors.
Source: newspapers

4. June 11, 1928 Receivership

Source: historical_nic

Newspaper Articles (1)

1. May 16, 1914 Evening Times-Republican Marshalltown, IA

Article from Evening Times-Republican, May 16, 1914

Click image to open full size in new tab

Article Text

out all the money we had on hand." Ben Newcomb, cashier of the First National Bank, said that bank officials confidently expected to pay every depositor 100 per cent. He declared that certain slow assets were the primary cause of the run. which resulted in the closing of the bank's doors.