Farmers State Bank (Elberon, IA)

Episode Information

Episode UID
72130871609
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7213087 routing
Routing Number
72-1308
Start Date
January 28, 1934
Location
Elberon, Iowa (42.006, -92.317)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6ee742b6c063be6b

Response Measures

None

Events (4)
1. January 28, 1934 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank is under a receiver (D. W. Bates) and court-authorized settlements and asset sales indicate suspension/insolvency.
Newspaper Excerpt
Traer Binger, who has charge Farmers Bank of Elberon since has appointed ...
Source
newspapers
2. February 20, 1934 Receivership
Newspaper Excerpt
On application of the bank's receiver, D. W. Bates, Judge Stiger approved a contract for the sale of real estate ... the receiver was also authorized ... by the court to sell ... property ... the receiver to accept ... in full settlement of his obligations to the bank (describing actions by the receiver).
Source
newspapers
3. April 4, 1934 Other
Newspaper Excerpt
Skrable ... reply ... was filed ... in the case of Skrable against ... D. W. Bates, as receiver of the Farmers State bank of Elberon ... the receiver of the bank procured judgment against him for $18,000 ... the judgment of $18,000 represents an assessment of 100 per cent on the stock.
Source
newspapers
4. May 27, 1934 Other
Newspaper Excerpt
Judge Carl Stiger Friday authorized D. W. Bates, receiver the Farmers State bank of Elberon, to accept from James Herstka in full settlement of his promissory note ... and to accept settlement of the balance of his obligation to the bank.
Source
newspapers

Newspaper Articles (4)
1. January 28, 1934 The Courier Waterloo, IA

Article Text

TAMA COUNTY BANK RECEIVER'S AID is GIVEN A PROMOTION Traer Binger, who has charge Farmers Bank of Elberon since has appointed aminer charge of that bank and institutions Toledo Traer. who was killed in an HOTZEL DIVORCE DECREE FILING IS Toledo. Mary Frances Hotzel Perry township, granted divorce Dec petition Roy Hotzel, not filed Thursday The filed original for ing cruel and inhuman treatment FINAL AT TOLEDO SCHOOL. final declamatory contest Toledo school place Friday Roger first: schel Sleeter first: Betty Shivley second: humorous. Ina Sleeter, first: Prances

2. February 20, 1934 The Gazette Cedar Rapids, IA

Article Text

Elberon Bank Orders Made In Tama Court TOLEDO — Presiding in Tama county district court, Judge Carl B. Stiger made several orders, three of them concerning the Farmers State bank of Elberon. On application of the bank's receiver, D. W. Bates, Judge Stiger approved a contract for the sale of real estate in Tama township to John Macek for $3,750. The receiver was also authorized by the court to sell to William Nebendahl, sr., property in Elberon for $1,025. The court authorized the receiver to accept from John Braye in full settlement of his obligations to the bank, eleven head of horses and farm machinery owned by him. Judge Stiger ordered that Dave Yarowsky, of Tama, appear Saturday for questioning as to the assets belonging to him and as to transfers of his property. A petition was filed in the county clerk's office by the Equitable Life Assurance society of the United States against Bessie A. Young, et al, demanding judgment for $16,236.12 due on a promissory note. Katherene M. Countryman filed suit for $5,000 damages against F. W. and Bill Scharfenberg of Traer for injuries said to have been suffered in an auto accident involving the Traer men. Anna E. Otterman of Toledo was granted a divorce from Harold B. Otterman.

3. April 4, 1934 The Courier Waterloo, IA

Article Text

Homestead Claim Made by Elberon Man in Bank Suit Toledo. reply by the plaintiff. E. P. Skrable. was filed in the Tama county district court Tuesday in the case of Skrable against E. O. sheriff of Tama county, and D. W. Bates, as receiver of the Farmers State bank of Elberon Skrable is the owner of six lots with dwelling thereon. in Elberon On Oct. 1932. the receiver of the bank procured judgment against him for $18,000, on which $400 has paid. Skrable asked an which was ordered by Judge B. O. Tankersley March 27, restraining the defendants from selling the lots to satisfy the judgment. The defendants, in an answer, say that Skrable the holder 180 shares of capital stock of the bank and the judgment of $18,000 represents an assessment of 100 per cent on the stock. They claim the stock was acquired prior the acquisition of the property levied upon. and that the judgment debt was contracted prior to the acquisition of the property, said debt originating Jan when Skrable became the owner of the stock. They declare that the property is therefore subject to the debt They ask dismissal of Skrable's petition and ask that the injunction be dissolved. In Skrable's reply, he says that on July John Skrable. conveyed to: him lots 10. 11 and 12. on which he resided with his family using the premises as a until March 1911 when he sold them to Henry Pryne He claims that with the received from Pryne, he bought lots 1, 3. and and has since then them as homestead. Later he bought lots and with the proceeds of the sale of his former homestead. He declares for this reason that all of real estate on which E. Harris has levied is exempt from execution for the judgment of the bank receiver.

4. May 27, 1934 The Courier Waterloo, IA

Article Text

Court Approves Settlements by Bank Receivers (Courier Special Service) Toledo, Ia.-Judge Carl Stiger Friday authorized D. W. Bates, receiver the Farmers State bank of Elberon. to accept from James Herstka in full settlement of his promissory note cured by mortgage on 80 acres of land, and to accept settlement of the balance his obligation to the bank, which amounts to 773.89. sum of $225 in cash and the proceeds from the sale of 12 head of W. Bates as receiver of the Traer State bank, was authorized accept the sum of $9,276.45 in Federal Land bank of Omaha, Neb., bonds or cash, or both. in full settlement of the note of and Florence Mabel Speer dated March 1924, payable to John Howard, and assigned by him to the bank The receiver then to can cel the note and release the estate mortgage given as security In of Albert Ulch against Joseph Braye, also known Joseph Breja, al, releases lien and judgment were filed by Walter DeVoe and Fred K. Caslavka. stating that judgment and lien granted their favor the decree of foreclosure Nov 1932 released and discharged DeVoe Caslavka also released mechanic's liens in their favor against Braye DeVoe's was for and Caslavka's was for $276.30 In the case of the Equitable Life Assurance Society the United States against Amos and Hannah Sawyer, Judge Stiger decreed that the plaintiff have judgment in rem against the real estate for $6,340.72 the amount due on note dated March 1930. Mortgaged 163 acres Crystal township ordered foreclosed Plaintiff was also granted judgment for against Arthur M. Lincoln and foreclosure of mortgaged 80 acres in Clark township was ordered