Farmers & Merchants Savings Bank (Durant, IA)

Episode Information

Episode UID
72079771579
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
7207977 routing
Routing Number
72-0797
Start Date
July 1, 1931*
Location
Durant, Iowa (41.600, -90.911)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f218c10ea85227ba

Response Measures

None

Description

Cashier Wiebener was shot and died two days before the bank suspended in July 1931; the bank subsequently entered receivership.

Events (4)
1. July 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Wiebener was shot and died shortly before the bank suspended, indicating an adverse internal event precipitating suspension
Newspaper Excerpt
Wiebener, cashier the Farmers and Merchants Savings bank, who died Saturday ... two days before the bank suspended
Source
newspapers
2. September 21, 1933 Other
Newspaper Excerpt
Farmers & Merchants Savings bank, Durant, 5 per cent, $40,861.65, Sept. 21.
Source
newspapers
3. April 24, 1934 Receivership
Newspaper Excerpt
Mr. Ryan has been receiver for the Farmers' and Merchants bank here.
Source
newspapers
4. August 2, 1935 Other
Newspaper Excerpt
The Farmers and Merchants bank is distributing checks for a 10 per cent dividend ... The dividend is the fifth payment since the bank suspended and brings dividend payments to 40 per cent.
Source
newspapers

Newspaper Articles (4)
1. July 29, 1931 Quad-City Times Davenport, IA

Article Text

WIEBNER FUNERAL IS HELD IN DURANT Durant, July Wiebener, cashier the Farmers and Merchants Savings bank, who died Saturday result of bullet wound inflicted the previous Wed. nesday, two days before the bank suspended, was laid to rest yesterday afternoon in the Durant cemetery. Services in the Durant chapel conducted the Rev. Jerome Miller, pastor of the St. Paul's English Lutheran church. H. George Stickman, George Klahn, George Trede, John Petersen and Ed. Christensen were the pallbearers.

2. October 1, 1933 The Des Moines Register Des Moines, IA

Article Text

BANK RECEIVERS PAY $1,231,000 Election Involves More Than Fate of Candidates September Dividends Fight Raises Curtain Listed by Bates. on 1934 State Iowa banks in receivership paid a total of $1,231,927.79 in divi- Campaign. dends during September, the report for the month by D. W. Bates, state superintendent of banking, showed Saturday. Seventeen banks declared dividends during the month. the largest dividend being paid Sept. 15 by the American Savings Bank & Trust Co. of Burtington. The dividend of $430,641.71 amounted to 10 per cent. The second largest dividend amounting to 38 and representing 30 per cent was paid by the Delaware County State bank of Manchester, Sept. 1. Creditors Get Payment. A dividend of 899 85 was paid by the Union Trust & Savings bank of Dubuque in a 10 per cent payment Sept. 20. The greatest percentage of the total deposits in any bank paid in a dividend during the month was 32 per cent paid Sept. 20 by the Peoples Savings bank of Des Moines. The dividend of $50,261.03 differed from the other dividends in that it went to creditors rather than depositors of the bank in connection with the merger of the People's Savings bank with the Bankers Trust Co. several years ago. Called "Satisfactory." Superintendent Bates said the dividend payment record of the one Other dividends paid by Iowa banks in September were: Corn Belt Savings bank, Cedar Rapids, 10 per cent, $60,059.69 Sept. 12; Corley Farmers Savings ers Savings bank. Cushing, 10 per cent, $7,054.64 Sept. 18; Farmers & Merchants Savings bank, Durant, 5 per cent, $40,861.65, Sept. 21. 10 Per Cent at Haskins. Farmers and Merchants Savings bank, Haskins, 10 per cent, $8.274.62, Sept. 25; Farmers & Traders Savings bank, Hillsboro, 15 per cent, $10,972.16, Sept. 19 Citizens Savings bank, Lester, 10 per cent, $18,769.8 Sept. 21. Lockridge State bank. Lock ridge, 10 per cent, $12,878.87 Sept. 21: Monteith Savings bank, Monteith, 15 per cent, $7,314.44 Sept. 22: American Savings bank Muscatine, 5 per cent, $58,519.71 Sept. 25; Thornburg Savings bank, Thornburg, 20 per cent, $11,244.59, Sept. 28. $7,640 at Truro. Truro Savings bank, Truro, 10 per cent, $7,640.90. Sept. 22; Peoples State bank, Winthrop, 10 per cent, 9,846.77 Sept. 28. One of the 17 banks paid its fourth dividend, five paid third dividends and four second dividends.

3. April 24, 1934 Quad-City Times Davenport, IA

Article Text

INFANT SON OF DURANT BANK RECEIVER DIES Special The Democres Durant, Ia., April 24.-Richard Emmett, two and a half year old son of Mr. and Mrs. R. D. Ryan, died at 3 o'clock this morning in Mercy hospital, Davenport, where the child had been patient the past several weeks. The parents accompanied the body to Council Bluffs this afternoon and burial took place in the cemetery at Underwood, the former family home. The child was born Oct. 8, 1932, in Omaha. The parents and a seven weeks' old sister survive. Mr. Ryan has been receiver for the Farmers' and Merchants bank here. under this PWA highway fund appropriation would be designated by the Iowa highway commission.

4. August 2, 1935 Quad-City Times Davenport, IA

Article Text

DURANT BANK PAYS $80,429 Ten Per Cent Disbursement, Fifth Since Receivership. Special to The Democrat Durant, Ia., Aug. 2.—The Farmers and Merchants bank is distributing checks for a 10 per cent dividend, totaling $80,429, R. D. Ryan, examiner in charge, announced today. The dividend is the fifth payment since the bank suspended and brings dividend payments to 40 per cent. Checks are available at the examiner's office in the Farmers and Merchants bank building.