Security Savings Bank (Perry, IA)

Episode Information

Episode UID
72173871501
Episode Type
Run → Suspension → Closure
Bank Type
savings
Bank ID
7217387 routing
Routing Number
72-1738
Start Date
January 26, 1925
Location
Perry, Iowa (41.839, -94.107)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1aaa16b99327a353

Response Measures

None

Events (2)
1. January 26, 1925 Run
Cause
Local Banks
Cause Details
Depositors withdrew funds after the Perry National Bank closed, triggering a run on Security Savings Bank.
Newspaper Excerpt
A run on the bank followed the closing of the Perry National bank Friday.
Source
newspapers
2. January 26, 1925 Suspension
Cause
Local Banks
Cause Details
Closure followed a run precipitated by the prior closing of the Perry National Bank.
Newspaper Excerpt
Security Savings Bank closed its doors here Saturday afternoon.
Source
newspapers

Newspaper Articles (2)
1. January 26, 1925 Iowa City Press-Citizen Iowa City, IA
Article from Iowa City Press-Citizen, January 26, 1925

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Article Text

MURPHY BANKS CLOSED Institutions Founded by ted Waukon Lawyer Without Sufficient Cash Associated Press) WAUKON, Jan. The Peoples National bank of Waukon was closed late Saturday by federal bank examiner, when was found its cash reserve was below federal requirements. A receiver was appointed Saturday for the Bank of Rossville, another Allamakee county bank. was not operating under charter. Both banks were organized by Dennis Murphy, Waukon attorney whose trial on indictments charging embezzlement is scheduled open in district court here tomorrow morning. Two Perry Banks Close PERRY, Ia., Jan. Security Savings Bank closed Its doors here Saturday afternoon. run on the bank followed the closing of the Perry National bank Friday.

2. January 27, 1925 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, January 27, 1925

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Article Text

Three Iowa Banks Close Their Doors Waukon, Ia., Jan. 26.—The People's National bank of Waukon was closed late Saturday by a federal bank examiner, when it was found its cash reserve was below federal requirements. A receiver was appointed Saturday for the bank of Rossville, another Altamakee county bank. It was not operating under a charter. Both banks were organized by Dennis J. Murphy, Waukon attorney, whose trial on indictments charging embezzlement is scheduled to open in district court here tomorrow morning. Perry, Ia., Jan. 26.—The Security Savings bank closed its doors here Saturday afternoon. A run on the bank followed the closing of the Perry National bank Friday. For future captains of industry, we must depend upon our present infantry, and we can't produce captains from dirty milk.