Mount Ayr Record-News
Mount Ayr, Ringgold County, Iowa
Thursday, August 16, 1984

Ripples of shock still rolled through Ringgold county early this week following the closing of Tingley State Savings Bank of Mount Ayr and Tingley Friday afternoon. Iowa Banking Superintendent Thomas Huston declared the 80-year-old Ringgold county institution insolvent and ordered the bank closed Friday afternoon. The same day the Federal Deposit Insurance Corporation, which was named receiver for the closed bank, accepted a proposal from Hawkeye Bancorporation to purchase certain assets and assume the deposit liabilities of approximately $17 million of the Tingley bank. The swift takeover meant "business as usual" for bank customers Monday morning, at least as far as those with accounts at the bank were concerned, but the total effect on the closing will play itself out in the days ahead when the economic impact of the capital losses is felt and as the liquidation of the bank's delinquent loans takes place, many observers with experience in bank closings say.

Formal announcement was made Monday that the Lamoni National Bank will open a Kellerton office Thursday, August 16. Also set to open this week is Carr Motors, Inc., a tire dealership and service station in the former Kellerton Oil building. In addition, Chet and Norma MUNYON have built a new mini-mart and gas station building in town and Darwin NOREM is the new owner of the Ranch Wagon Cafe in Kellerton.

Raising money for the Statue of Liberty refurbishing was the goal of a group of neighborhood children along West Columbus last week. Some $75 was raised through games as well as refreshments. Helping in the cause were the Republican Women, with Ellen ELLIOTT making a check presentation to carnival workers, Craig SCOTT, Brent McCLURE, Sean THOMAS, Brent BABCOCK, Craig McCLURE, Brandi BABCOCK and Brian CAMPBELL.

Pattie FOLTZ of Mount Ayr has been recognized by the American Cancer Society, Iowa Division, Inc., for outstanding volunteer service in the Ringgold county unit of the Society. She was presented an engraved walnut wall plaque.

Two Mount Ayr drivers will be racing their stock cars at the Missouri State Fair in Sedalia, MO this week. Dick ELLIOTT and Jeff FRENCH will be racing Sunday, August 19.

Beth STILL of rural Kellerton was one of 100 high school youth from across the state who participated in the fourth annual Iowa Agricultural Youth Institute held in Ames.

August 11, a daughter to Mr. and Mrs. Billy SCHUSTER, Mount Ayr

OBITUARIES in August 16, 1984 Mount Ayr Record-News:

Harold M. CLARK   Barton Dwight HALEY

Transciption by Sharon R. Becker, December of 2012

To submit your Ringgold County items, contact the County Coordinator.
Please include the word "Ringgold" in the subject line. Thank you.

 

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