First National Bank - Jefferson, IA

Episode Information

Episode UID: 826201512
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 82620 national
Charter Number: 8262
Start Date: December 9, 1925
Location: Jefferson, Iowa (42.015, -94.377)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 70c87b298fd5b555

Response Measures

None

Receivership Details

Depositor recovery rate: 63.7%
Date receivership started: 1925-12-23
Date receivership terminated: 1930-08-12
OCC cause of failure: Governance
Share of assets assessed as good: 51.0%
Share of assets assessed as doubtful: 26.9%
Share of assets assessed as worthless: 22.1%

Description

Receivership date taken from known government record; article reports director-ordered closure citing frozen credits and depleted reserves.

Events (4)

1. June 12, 1906 Chartered

Source: historical_nic

2. December 9, 1925 Suspension

Cause: Voluntary Liquidation
Cause Details: Closed by order of the board of directors citing frozen credits and depleted reserves.
Newspaper Excerpt: TWO JEFFERSON BANKS CLOSED ... First National bank ... were closed today orders of the boards of directors. Frozen credits and depleted reserves were given
Source: newspapers

3. December 23, 1925 Receivership

Source: historical_nic

4. December 23, 1925 Receivership

Source: newspapers

Newspaper Articles (1)

1. December 9, 1925 The Muscatine Journal Muscatine, IA

Article from The Muscatine Journal, December 9, 1925

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Article Text

TWO JEFFERSON BANKS CLOSED Jefferson, Dec. First National bank and the Greene County Savings bank operated in the same room of the same building. were closed today orders of the boards of directors. Frozen credits and depleted reserves were given as the The National bank was capitalized at $50,000 and the state bank at Arrest Prominent Turks. Beirut, Syria, Dec. Several prominent Turks have been arrested in Damascus on charges of with the druse bands are fighting the French.