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Bank Closures

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Time Frame: 1929-1939

During the 1920s about 300 banks closed in Iowa leading up to the Great Depression.
The Iowa Heritage Hard Times
©1979
Iowa Public Television

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Transcript

If farmers suffered, then small towns suffered. And if small towns suffered, then their financial centers, the banks, suffered. When news got out that a bank was about to close, people panicked and rushed to withdraw their savings. This only made the inevitable death of a bank come sooner. During the 1920s over 300 banks closed in Iowa and customers at the end of the line found their savings had vanished over night.

 


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