Bettendorf Savings Bank (Bettendorf, IA)

Episode Information

Episode UID
72120271596
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
7212027 routing
Routing Number
72-1202
Start Date
December 26, 1932
Location
Bettendorf, Iowa (41.524, -90.516)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
79e9e883f3aba6a6

Response Measures

None

Description

Directors voted to suspend and liquidate; superintendent took possession and a receiver was appointed.

Events (4)
1. December 26, 1932 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors resolved to suspend operations and liquidate assets to protect depositors; business placed in hands of state superintendent and receiver.
Newspaper Excerpt
At a special meeting of the board of directors of the Bettendorf Savings bank held Monday afternoon the following resolution was adopted... the directors have decided to suspend further operation of this bank at once and that notice of said suspension be given to the superintendent of banking for the state of Iowa and that a copy of this notice be posted on the front door of the bank.
Source
newspapers
2. December 27, 1932 Other
Newspaper Excerpt
The doors of the Bettendorf Savings bank remained closed this morning business and property of the institution placed the hands of the Iowa superintendent of banking by decision the board of directors met in special meeting Monday afternoon.
Source
newspapers
3. February 7, 1933 Other
Newspaper Excerpt
Similar action started against the Home Union banks Davenport and the Bettendorf bank. inventory of Home savings filed today expected Bettendorf Savings bank inventory would be ready afternoon.
Source
newspapers
4. December 12, 1933 Other
Newspaper Excerpt
Depositors of three closed banks in Davenport and Bettendorf will receive approximately $179,491... 10 per cent for the Bettendorf Savings bank.
Source
newspapers

Newspaper Articles (14)
1. December 27, 1932 Quad-City Times Davenport, IA

Article Text

COUNTY BUSINESS No Excitement or Interruption in Business Reported at Any of Them. Nine county banks in Scott coun outside of Davenport opentd usual hour for business today. included all county banks They the exception the Bettendorf which decided yesterday to receivership. Harry Brownlie of the Stockbank, Long Grove, has been spokesman for country banks, stated today that there had been no difficulties and that there been no demands for unusual thing was quiet at all of the counbanks this morning it ported.

2. December 27, 1932 Quad-City Times Davenport, IA

Article Text

SAVINGS BANK SUSPEND DAVENPORT AT TIME HAD Affairs of Institution Mergers, Suspensions and Placed in Hands of Iowa Liquidations Supt. of Banking. the Number to One. The doors of the Bettendorf Savings bank remained closed this morning business and property of the institution placed the hands of the Iowa superintend of banking by decision the board of directors met in special meeting Monday afternoon. Two notices, one signed by the and the other by Poffenbarger, ship pasted on the bank door. There excite ment, an passer-by stopping to read the bulletins. The directors' notice special meeting the board of of Betten dorf Savings bank, held this day (Dec. 26), the following resolution unanimously adopted for the purpose of protecting the depositors of this bank and in order that the may be for the benefit of the decided to pend further of bank once, and notice suspension given to superintendent banking of of Iowa, and that copy this notice posted on the front door this Beside notice the letin of Mr. Poffenbarger read business and property the bank has been taken possession by perintendent of banking. The funds the city of Betten dorf among posits Bettendorf bank Questioned regarding probable action of Mayor Hansen said that unable offer other than would counmeeting in the year. History Bank. The Bettendorf Savings only institution banking received charter March and opened business present building 1702 State Peter incumbent ident was at the head the bank organization, which was talized the amount which never Other ficers the bank the original organization president: vert, Kohle, Schroeder, Oscar Kobs, James Walsh, Reck. Dougherty and McMann, The present board of directors includes but the charter board. They are Peter Dougherty and Other the pres. board Gilroy Boston and Moeller Moeller the incumbent and Davenport's bank history of years has been one merg suspensions and liquidation number of institudwindling from in the day to today with the the by the old German Savings American Commercial Savings American Savings bank Trust company the time liquidation year ago. The Davenport Savings Main merged the was followed short time later merger Union the Scott County Savings The Iowa National bank. Second and merged Savings bank, the First tional bank taken over The last merger the Citizens bank and Trust company the Commercial bank May, 1931. meantime the Savings Second street, the Industrial Savings Third and Ripley taken by American Commercial Savings bank for purpose liquidation. North Street ings bank, located Sixteenth later known the Peoples' Trust Savings bank, business and went into hands The American bank company went into hands on Oct. but one the and the outlying districts, the Home ings bank and Northwest Davenport Savings bank. The American Savings bank Trust company reorganized early and re-opened the Davenport Bank Trust surviving bank institution the city today the districts the record been much same. The First State Savings bank Trust suspended and reorganized only pend second time some and now being liquiyears The Savings bank was the second country bank pend and now Banks in Eldridge in Walcott merged and still operating

3. December 27, 1932 The Daily Times Davenport, IA

Article Text

Bettendorf Bank To Liquidate; Is Not Open Today Taking the same action as the Northwest Davenport Savings bank and the Home Savings bank of Davenport, members of the board of directors of the Bettendorf Savings bank held a meeting Monday afternoon and passed resolution to discontinue business and to liquidate the assets of the bank. The bank remained closed today as a result. The following notice appeared on the front door of the bank this morning, no further statement being offered by the officers: At a special meeting of the board of directors of the Bettendorf Savings bank held Monday afternoon the following resolution was adopted: "Be it resolved, that for the purpose of protecting the depositors of this bank and in order that the assets may be preserved for the benefit of all concerned, the directors have decided to suspend further operation of this bank at once and that notice of said suspension be given to the superintendent of banking for the state of Iowa and that a copy of this notice be posted on the front door of the bank." Receiver's Notice Also on the door of the bank the following notice was also posted by A. F. Poffenberger, the receiver in charge: "The business and property of the Bettendorf Savings bank have been taken possession of by the superintendent of banking. Organized in 1909 Organized in 1909, the Bettendorf Savings bank received its charter on March 1 of that year. The capital of the bank was $25,000 and was never changed. Officers at the time of organization were: P. W. Reck, president: F. Siebengartner, vice president; J. Brownlie, cashier, and W. O. Calvert, J. C. Kahle, C. H. Schroeder, Oscar Kobs. James W. Walsh, F. Siebengartner, P. W. Reck. E. J. Dougherty and W. W. McMann. Present officers are as follows: P. W. Reck, president; E. J. Bettendorf, vice president; A. H. Moeller, cashier, and J. W. Bettendorf, E. Bettendorf, J. L. Miclot, P. S. Gilroy, G. L. Boston, P. W. Reck, E. J. Dougherty, W. W. McMann and H. H. Moeller, directors. Deposits in the bank amount to approximately $340,000. Forty-six per cent of Germany's exports of metal-working machinery last year went to Russia.

4. February 7, 1933 The Rock Island Argus Rock Island, IL

Article Text

Attorneys for Receiver Instructed to Suit Against Northwest Davenport Group. Instructions to bring suit against stockholders the Davenport Savings bank, which pended operations Dec. 24, for special assessment levy, the receiver conference suit will filed for March of court and directed 300 The bank captialized at Eggert, cashier, the largstated that similar action started against the Home Union banks Davenport and the Bettendorf bank. inventory of Home ings filed today expected Bettendorf Savings bank inventory would be ready afternoon The Home Savings bank had capital $50,000 shares stock. Charles Pasche the largest number shares, and Catherine Walsh shares. Assets fixed and liabilare the figure.

5. March 26, 1933 Quad-City Times Davenport, IA

Article Text

MORTGAGE Intervenor Claims Debt Was Paid Before Bank Closed. Harry and Emma Yingling, who claim they paid $4,042.16 the Bettendorf Savings bank on Nov. six weeks before the bank suspended operation and went to receivership, in full settlement outstanding mortgage against their property, into district court Saturday demanding the return of their money or cancellation of the mortgage now held collateral the Reconstruction Finance Corp. The issue raised tion of intervention filed by Weir, attorney for the Yinglings priority claim tain an order court canceling the mortgage. The note and mortgage executed on March 13, 1920, later by the bank. claim they advised that the and mortgage had assigned the tion by the collateral by while going concern, from the federal agency. On Nov last, according to their they paid the bank plus $42.16 interest full settlement the note and mortgage and given receipt signed Koos, bank Records the office according Mr. Weir's tition, that the and mortgage assigned the Finance corporation on Feb. The bank suspended operations Dec. and went into the hands three days later The contend the bank should remitted their payment to nance and obtained the surrender and They have demanded the canceled and mortgage, they claim, and their demand has been fused.

6. April 24, 1933 Quad-City Times Davenport, IA

Article Text

REDUCE BONDS OF BANK RECEIVER AND EXAMINER Bonds of Andrew, Poffenberger, examiner charge of the Bettendorf Savings bank, were reduced from in the case the receiver, and from to for the examiner an order signed today District Judge W. Scott.

7. July 10, 1933 Quad-City Times Davenport, IA

Article Text

CHANGE IN BANK RECEIVERS WINS COURT APPROVAL An interlocutory report ferring the affairs the Bettendorf bank receivership from Andrew, retiring state superintendent of banking, to his successor, Bates, proved today by District Judge Scott. The order directs that Mr. receiver, discharged his bondsmen exonerated. Similiar orders were to be entered in the day the Home Savings bank the American Trust company receivership. Hearing on the Northwest enport bank, the LeClaire Savings bank and the American Trust company receiverships July Union Savings Bank Trust company First State Savings bank, McCausland, July

8. December 12, 1933 Des Moines Tribune Des Moines, IA

Article Text

Three Iowa Banks To Pay $179,490 DAVENPORT IA. (P)-Depositors of three closed banks in Davenport and Bettendorf will receive approximately $179,491. probably by Christmas Announcement was made Tuesday by examiners in charge for D. W. Bates, state superintendent of banking and receiver for the institutions, after approval in district court. These first payments from the three institutions which closed last December amount to 5 per cent in the case of the Northwest Davenport Savings and Home Savings banks and 10 per cent for the Bettendorf Savings bank. Harvey Estate Pays $300 Tax. The estate of Isaac A. Harvey of Sioux City, Ia., paid $322.62 inheritance tax Tuesday The pay. ment to State Treasurer Leo J. Wegman was based on an estate taxable value of $20,610.76

9. March 14, 1934 Quad-City Times Davenport, IA

Article Text

HEARING THURSDAY ON PROPOSED BANK DIVIDEND PAYMENT hearing proposed from the RFC positors the closed Davenport Savings, Home ings Bettendorf Savings banks held Thursday District Judge Scott's court. While there have been numerous approvals objections plan have been announced Judge Scott

10. May 8, 1934 Quad-City Times Davenport, IA

Article Text

REPORT FILED Cash on Hand Increases More Than $6,000 ing Quarter. An increase in cash hand than was shown in the quarterly report filed Scott county district court Bates, receiver, and Poffenberger, charge of Bettendorf Savings bank The port for the three period ending March and Judge Maines. assessment collections increased, the report shows, from $8,933.47 to $10,653.32. during period were while disbursements were leaving cash balance hand

11. June 29, 1934 Quad-City Times Davenport, IA

Article Text

REPORT DEPOSITORS SECURE CHECKS Northwest, Home and tendorf Bank Starts Monday. Approximately 6,650 depositors the closed Northwest Davenport, Home and Bettendorf ings banks will benefit from tial payment made those institutions beginning Monday, announced in Thurs day evening's Democrat. Dividend checks totaling $998, 103.28 distributed the three houses. The checks drawn the Bank Trust felt that the release this amount cash time have very beneficial effect on local business. The number depositors amounts to paid out each receivership office Northwest depositors. Home depositors. Bettendorf Savings to depositors.

12. July 25, 1934 Quad-City Times Davenport, IA

Article Text

IN BETTENDORF Total Stock Assessments June 30 Are $10,963, Records Collection of $310 stock sessments the receiver for the Bettendorf Savings bank receiverduring the riod ending June 30, brought the total assessments collected $10,according to the sixth quarterly report filed in Scott county district court by D. Bates, ceiver. The report, prepared by Poffenberger, examiner in charge, shows cash receipts, including the stock assessments, of Disbursements for the period including receivership expenses The total expense for receivership for the months has been charge The cash balance of shown March 31, was reduced June 30, the report shows.

13. July 25, 1934 The Daily Times Davenport, IA

Article Text

Bettendorf Bank Receiver's Sixth Report Approved The sixth quarterly report the receivership of the Bettendor bank, the from March 31 to June 30, approved late yesterday in county district court by Judge Maines as presented by Poffenberger, examiner charge for the receiver. Bates. shows cash receipts of including collections $310 assessments stockholders which total from this source to Disbursements amounted to of which penses the the for this During the the cash reduced to Carl Campbell, arraigned in lice court yesterday for the some socks from counter downtown store, was sent to for ten days. George Hunt, charged false check, and $10 fine was suspendwhen he was arraigned in court yesterday.

14. April 19, 1935 The Daily Times Davenport, IA

Article Text

Herbert Phillips and his popular dance orchestra of the tri-cities will play for the "Y" mixer, a dance to be given by the Young Men's club of the "Y" at the Credit Island inn, Tuesday, April 30. It is hoped the dance will start a fund to assist young men of Davenport in attending the national young men's conference to be held at Lake Geneva, Wis., July 15-18. A judgment in the principal amount of $1,190.23 against C. E. and Frieda Burkle and Fred and Belle Burke has been obtained in District Judge W. W. Scott's court by the Bettendorf Savings bank receivership, a mortgage on Bettendorf real estate being ordered foreclosed after the expiration of a moratorium. A. W. Poffenberger was appointed receiver for the property during the period of redemption.