First National Bank (Greenfield, IA)

Episode Information

Episode UID
533401539
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
53340 national
Charter Number
5334
Start Date
March 21, 1928
Location
Greenfield, Iowa (41.305, -94.461)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
61e433fe8244d651

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
68.7%
Date receivership started
1928-03-21
Date receivership terminated
1930-09-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
30.9%
Share of assets assessed as doubtful
39.1%
Share of assets assessed as worthless
30.0%

Description

Newspapers report a run and closing March 21 and a receiver named March 22; government records give receivership date 1928-03-21.

Events (5)

1. May 7, 1900 Chartered
Source
historical_nic
2. March 21, 1928 Receivership
Source
historical_nic
3. March 21, 1928 Receivership
Newspaper Excerpt
GREENFIELD, Ia., March 22.—L. J. Bosworth ... has been appointed receiver of the First National bank of Greenfield, which closed yesterday.
Source
newspapers
4. March 21, 1928 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors started a sudden run on the bank, precipitating heavy withdrawals and closure.
Newspaper Excerpt
GREENFIELD, Ia., March 21.—(U.P.)—The First National bank, of Greenfield was closed today after a run.
Source
newspapers
5. March 21, 1928 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed following the sudden run blamed on false rumors.
Newspaper Excerpt
GREENFIELD, Ia., March 21.—(U.P.)—The First National bank, of Greenfield was closed today after a run.
Source
newspapers

Newspaper Articles (2)

Article from The Times, March 21, 1928

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Article Text

Bulletin GREENFIELD, Ia., March 21.—(U.P.)—The First National bank, of Greenfield was closed today after a run. The bank had $310,943.12 in deposits. INDIANAPOLIS, Ind., March 21.—(I.N.S.)—“If the primary election were tomorrow, Herbert Hoover would get 60 per cent of Lake county's vote for president,” State Senator C. Oliver Holmes, of Gary, told Hoover state headquarters here today. Senator Holmes is the president of a bank at Gary and is also president of the Indiana State Bankers' association. INDIANAPOLIS, March 21.—(U.P.)—Miss Mamie L. Bass today took charge of organizing business and professional women for Senator James A. Watson's Indiana presidential campaign. LOS ANGELES, March 21.—(I.N.S.)—William Mulholland, chief engineer of the Los Angeles bureau of power and light, admitted at a coroner's inquest here today that a new and fast increasing leak was visible in the St. Francis dam twelve hours before the giant structure tore loose from the canyon side and hurled a death carrying flood of water upon hundreds of sleeping residents of the fertile valleys below STANFORD, Ky., March 21.—(U.P.)—Three or four persons driving from Savannah, Ga., to Lansing, Iowa, were killed here today when struck by a Louisville & Nashville railroad train. INDIANAPOLIS, March 21.—(U.P.)—Stockholders of the Chicago, Indianapolis and Louisville railway company meeting at the Monon city ticket office here this afternoon re-elected all directors and approved the 1927 financial report of President H. H. Kurrie The financial report showed the railroad paid the usual dividends of $934,442 and had a surplus of $631,889 in 1927. The surplus is $123,308 under that of 1926.


Article from The Daily Nonpareil, March 22, 1928

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Article Text

Thief Robs a Church Safe $5 OF SUM TAKEN AT CEDAR RAPIDS BEING PENNIES OF CHILDREN. (By The Associated Press.) CEDAR RAPIDS, Ia., March 22.—A safe in St. Paul's church here was opened last night and $35 in cash and $5 in stamps stolen. Five dollars of the loot was in pennies collected from children in the church of youth. Police today said that the man probably hid in the building during services last night, as the door leading from the basement to the office had been pried open. The safe lock had been broken and pieces scattered over the floor. DES MOINES, Ia., March 22.—Charles Brewster of Perry, alleged assailant of Marion Gossard, a Drake university student, was found guilty today by district court jury. The date of his sentence was fixed for March 26. The charge carries a minimum sentence of five years and a maximum of life. The jury deliberated more than twelve hours. DES MOINES, Ia., March 22.—Acceptance of invitations to head state delegations to the annual convention of the United States Good Roads association here has been received from Govs. J. E. Erickson of Montana, A. G. Sorlie of North Dakota and Flem D. Sampson of Kentucky, it was announced today by J. A. Rountree, director general of the association. Mr. Erickson announced that he would appoint eighty delegates. The convention will be held here May 28 to June 1. MANCHESTER, Ia., March 22.—Jules Gleason, Masonville bank cashier who was paroled from the Fort Madison penitentiary in January, has been indicted on a fraudulent banking count by the Delaware county grand jury. In 1925 Gleason pleaded guilty to a charge of theft in connection with the closing of the bank. DAVENPORT, Ia., March 22.—A man believed to be James McGuire of Montevideo, Minn., a road laborer, was run down by a train and his head severed from his body in the west end yards late last night. Identification was partly established today by police through aid of Walter Maloney, who said he had worked with McGuire. TOLEDO, Ia., March 22.—S. J. Husak, former cashier of the Farmers State bank of Clutier, was freed of a charge of making a false entry by a jury here last night after more than six hours' deliberation. The trial opened Monday. M. A. Caslavka, cashier of the closed bank, has been indicted on a fraudulent banking charge and will be tried later in the term of the local court. SIOUX CITY, Ia., March 22.—Arraigned in district court on a charge of conspiracy to violate the prohibition law, Marcus Crost, Sioux City detective, entered a plea of not guilty today. GREENFIELD, Ia., March 22.—L. J. Bosworth, formerly of Cambridge and Nevada, Ia., has been appointed receiver of the First National bank of Greenfield, which closed yesterday. Work of reorganization will be started at once, E. B. Wilson, examiner from Council Bluffs, stated today. False rumors which started a sudden run on the bank have been blamed for its closing. SIOUX CITY, Ia., March 22.—With a larger crowd on hand than at any previous session, the trial of Tom L. Taggart, commissioner of public safety, charged with conspiracy to violate the prohibition law, was resumed in district court today. FARMINGTON, Ia., March 22.—The First Trust and Savings bank of Farmington in Van Buren county closed today by order of its board of directors. An examiner of the state banking department is in charge. The bank had a capital of $100,000 with deposits estimated at $750,000. W. B. Seeley is president; G. F. Springer and B. F. Ketchem, vice presidents, and E. A. Wiegner, cashier. Officers of the bank today said the bank might reorganize.