Encyclopedia Dubuque
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Affiliated with the Local History Network of the State Historical Society of Iowa, and the Iowa Museum Association.
HONOR BANKS
HONOR BANKS. In 1915 the designation 'honor bank' was given to those banks where the undivided surplus and profits remaining in the bank exceeded the capital stock of the bank. Ten percent of the banks organized under state laws achieved this record with 34 organized as state banks or trust companies and the others under the savings bank law. In some cases the profit and surplus exceeded by three or four times the capital stock.
In Dubuque, the banks declared 'honor banks' included DUBUQUE SAVINGS BANK and GERMAN TRUST AND SAVINGS BANK.
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Source:
" 'Honor Banks' in Iowa Number 111," Dubuque Telegraph-Herald, May 23, 1915, p. 13