Citizens Savings Bank (Sigourney, IA)

Episode Information

Episode UID
72039171491
Episode Type
Run → Suspension → Closure
Bank Type
savings
Bank ID
7203917 routing
Routing Number
72-0391
Start Date
March 9, 1924
Location
Sigourney, Iowa (41.333, -92.205)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6cc1f7a7a7735ca0

Response Measures

None

Description

Articles disagree on the year the bank initially closed (1922 vs. 1924); receiver activity and dividend payments occur in 1925.

Events (4)
1. March 9, 1924 Run
Cause Details
Large single depositor withdrew a substantial sum, provoking fear of a run
Measures
Bank officials voluntarily closed doors to forestall further withdrawals; Superintendent of Banks took charge
Newspaper Excerpt
It was stated that a heavy depositor had withdrawn a large amount of cash and the bank officials had voluntarily closed the doors on account of fear of a run
Source
newspapers
2. March 9, 1924 Suspension
Cause
Government Action
Cause Details
Superintendent of Banks took charge after bank closed its doors (voluntary closure followed by regulator intervention)
Newspaper Excerpt
The Citizens' Savings Bank of Sigourney has closed its doors and the Superintendent of Banks has taken charge.
Source
newspapers
3. April 3, 1925 Receivership
Newspaper Excerpt
Mr. Lambert is the attorney for the receiver of the Citizens Savings bank of Sigourney
Source
newspapers
4. September 3, 1925 Other
Newspaper Excerpt
Depositors Receive 10 Cents on Dollar from Bank Closed in '22. Wagner has ordered that the depositors the defunct Citizens' Savings bank here be paid 10 per cent dividends.
Source
newspapers

Newspaper Articles (3)
1. March 10, 1924 The Los Angeles Times Los Angeles, CA
Article from The Los Angeles Times, March 10, 1924

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Article Text

BANK CLOSES DOORS [EXCLUSIVE DISPATCH] DES MOINES, March 9.—The Citizens' Savings Bank of Sigourney has closed its doors and the Superintendent of Banks has taken charge. It was stated that a heavy depositor had withdrawn a large amount of cash and the bank officials had voluntarily closed the doors on account of fear of a run, not because the bank's condition is unsound.

2. April 3, 1925 Quad-City Times Davenport, IA
Article from Quad-City Times, April 3, 1925

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Article Text

LAMBERT MAY BE HEDRICK SAVINGS BANK RECEIVER C. J. Lambert of this city has been recommended the state banking department and the attorney general to be the attorney for the receiver of the Hedrick State Savings bank. Mr. Lambert is the attorney for the receiver of the Citizens Savings bank of Sigourney

3. September 3, 1925 Quad-City Times Davenport, IA
Article from Quad-City Times, September 3, 1925

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Article Text

SIGOURNEY BANK Depositors Receive 10 Cents on Dollar from Bank Closed in '22. Wagner has ordered that the depositors the defunct Citizens' Savings bank here be paid 10 per cent dividends. The bank closed its doors March 1922, and this is the first dividend to be paid the depositors. The judge's order was result of the by the bank's receivers, C. Lambert. attorney for the stated that the total amount included in the ten per cent would be $21,000. The depositors will receive their share of dividends just as soon as checks can be issued from Des Moines.