Former Gravity State Bank (Gravity, Iowa)

On July 1, 1930, patrons to the bank in the Taylor County community of Gravity were greeted by the following notice posted to the front door:

In view of the continued financial drain due largely to short crops of the last year of this community, the Board of Directors of this bank voted to close the same for the protection of the depositors and all concerned.

The Gravity Independent¬†from July 3 notes no direct statements have been made by bank officials, though a meeting was held between the bank’s Board of Directors and Henry Erwin, a state bank examiner. The paper was “assured that the condition of the bank is better… than it was two years ago, and that the depositors will fare better… than they would have if the institution closed at that time.”

The Taylor County town wasn’t without a bank for long: In 1931, a bank of the then-Sharpsburg-based State Savings Bank opened a branch in the Gravity building. As Gravity’s population declined, bank operating hours were shortened before the Gravity office closed entirely in the 1990s.