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421.11-6 - Bank Suspensions Since Jan 1 1921
Nonmember State Banks Minnesota 0-S
Committee on Branch Group & Chain Banking
#1057
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El
EN
State bank
Is
National bank
Name of State
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnepo ta
O Private bank
•
1. Name of bank
2. Date organized
Oak Park State Bank
10-1-13
3. Federal reserve district
Date suspended
7
Town or City
9-_12-30
Oak Park_county
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Benton
100
6. Condition figures, as of (date*)
9-12-30
Loans and discounts:
On real estate
Other
$
Total loans and discounts
21,016.14
5,593.82
Real estate acquired in satisfaction of debts
"),7A
Investments
6,000.00
10,415.95
All other resources
$43,025.91
Total resources
$10,000.00
Capital
2,060.00
Surplus and undivided profits
Deposits:
$
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
19,836.18
10,273.89
$
Total deposits
30,110.07
Borrowings from F. R. bank
1111P
Borrowings from other banks
All other liabilities
319-54443"req43 0›-.1;q
,
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Ye S
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. ..
5,598.5
$5,598.52
$5,598.52
100/0
6
Preferred claims.
4,887.2
43.33
43.33
,?' ---
General claims..
20,141.5
____
5- 6 8 2-.
;i 30 627.2
,
Total claims
(
10. Has this bank been finally liquidated?
(
e ii 9 ,
,
/ g.k/
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
secured claims
Preferred claims
General claims
Total claims. .. .
_
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Poor paper &
Lack of reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
ip
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory 1.ssessment $10,000; Assessment ordered 11-8-30
410
'
4
#900
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
C11)4),
•••
0 National bank
Name of State
State bank
0 Trust company
O Stock savings bank
O
Minnesota
Mutual savings bank
O Private bank
•
1. Name of bank
2. Date organized
Far & Ider State Bank
6-1-10
3. Federal reserve district
Town or City
1-4-27
Date suspendeci_
7
Odessa
County
Population of town or city*
ember or nonmember of F. R. System
4. Number of branches operated: In city of parent bank_
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Big Stone
271
6. Condition figures, as of (date*)
1427
Loans and discounts:
On real estate
Other
$ 99,117.17
Total loans and discounts
35,497.99
Real estate acquired in satisfaction of debts
218.01
Investments
)
(5,52.04
All other resources
$14e 3 7
7 -56 -e-1(44,333,/ g
Total resources
$25,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
24,425.72
Time deposits, including postal savings
52.,,444.69
$ 7687041
Total deposits
Borrowings from F. R. bank
ea.&
Borrowings from other banks
17,280.00
All other liabilities
20,188.57
$141,338.98
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened__
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
WirrMIthinfl
Total payments
Per cent of payments
to claims allowed
dvance and.
collat eral
Secured claims. ..
r..
$98.2
$98.2 1
Preferred claims...
34,716.25
76,200..
17,280.01 -----•'
1* Total claims. . ..-,' R "
11.ffilts^ . Airlat •
-— ;
r
' • r•- grab;
.
$98.21
100%
34,716.25
45-0
4..+444...
T. .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Dqpleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $25,000, Assessment orfiezed_1_0=25=27
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
LX State bank
0 Trust company
El Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank
2. Date organized
Far & Mer State Bank
9-16-15
3. Federal reserve district_
Date suspended_
9
Town or City
Ogilvie
1-25-27
Population of town or city*
County
Member or nonmember of F. R. System
Kanabec
500
None
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
AAA,. 1
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
i‘t t\A
(c,
u 1
6. Condition figures, as of (date*)
1-25-27
Loans and discounts:
On real estate
Other.
$ 118,531.98
Total loans and discounts
' 15,667.51
Real estate acquired in satisfaction of debts
6,021.99
Investments
15,934.17
All other resources
*156,155.65
Total resources
$10,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$75,321.86
46,930.81
$ 122,252.67
Total deposits
Borrowings from F. R. bank
---
Borrowings from other banks
15,300.00
3,602.98
All other liabilities
*156,155.65
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
PlangMain
Total payments
Per cent of payments
to claims allowed
gcl
iggl l
a
2,26154
Secured claims
Preferred claims..
Gelieri;a
clairw _
Gen Cl—Bills P.
$2,261.54
...—
$2,261.54
100%
241 151.82
111909.52
...,..
11,
909.52
49%
80 549.32
44 44
-
Total claims.: -.-- -...
0
4
--t15- °0- -00 15,300.00_
0
13 \
10. Has this bank been finally liquidated?
10%
615,300.00 $29,4_71. -
•:-414,171.
I
24.
o
• 2)
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims. ..
General claims. .. .
-
Total claims
10M Deposit School District #1 secured by collateral — No claim filed
oult brought and collateral returned to bank
9M accounted for
by unclaimed deposits and offsets
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension ?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 7-25-27
11111
#592
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
XI
Name of State
State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank
2. Date organized
State Bank of Ogilvie
10-10-05 Date suspended
3. Federal reserve district
Town or City
Ogilvie
County Kanabe C
12-11-23 Population of town or city* 500
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
6. Condition figures, as of (date*)
12-11-23
Loans and discounts:
On real estate
Other.
$
Total loans and discounts
381,211.48
20,202.19
Real estate acquired in satisfaction of debts
1372.29
Investments
27,373.57
All other resources
$430,159.53
Total resources
$50,000.00
Capital
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$95,638.96
Time deposits, including postal savings
138,599.80
$
Total deposits
234,238.76
Borrowings from F. R. bank
138,4U.31
.1 q
1
(1,500.00
Borrowings from other banks
All other liabilities
$574,
Total liabilities
7. Has this bank been reopened?
0,7r0443 4
0// 6
If so give:
Date of reopening
Name under which reopened__
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yee
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
xmonplanfmilm
Total payments
Per cent of payments
to claims allowed
collateral
.. —
Secured claims. .. .
g
Preferred claims. .n.
& advance
_...
3 I ''' * 96
R66
$413.40
-
$413.40
2%
General claims. P.P I 234.29
,
Gen_ Ci—Bille P113 )
: .
;230.21 128;230- 21 ,466.31 - - --6 ":::-77---, ' 1-284
.
10. Has this bank been finally liquidated?
93% -
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. .. .
Total claims. . ..
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $50,000* Assessment ordered 9-18-25
•
#91.0
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
[2] State bank
r
0 Trust company
El Stock savings bank
El
Mutual savings bank
Minnesota
0 Private bank
1. Name of bank
2. Date organized
First State Bank
8-15-10
3. Federal reserve district
Date suspended
Town or City
6-15 29
'
7
Oklee
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Red Lake
500
6. Condition figures, as of (date*)
6-15-29
Loans and discounts:
On real estate
Other
$ 120,098.43
Total loans and discounts
Real estate acquired in satisfaction of debts
17,556.09
Investments
23,421.16
i18,f78.g0
All other resources
-
Total resources
-
3-.GB$149
go,liSel,4/
$15,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$47,239.50
113,249.99
$ 160,489.49
Total deposits
Borrowings from F. R. bank
eg..,
Borrowings from other banks
All other liabilities
•
------$1g0,489.49
Total liabilities
7. Has this bank been reopened?
OEM
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . . . $20,6772
$20,677.20
C
$20,677.20
100%
6 / 968.6
8 1968.66
r---
6,968.66
100%
0
-
51 / 400.53
40%
7 9 D lig.
"Co6
Preferred claims..
128,483.3
.53
51,400.
General claims..
Total claims. ..
,-,./ / ii/6.
156,129.1
10. Has this bank been finally liquidated?
u--
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
X
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension ?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
$6,000 - 5-3-29
Statutory liability $15,000
Assessment ordered August 27,'29
40
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
•
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
E
State bank
Name of State
0 Trust company
0 Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Farmers State Bank_
2. Date organized 5-11-15
Date suspended
3. Federal reserve district
Town or City
4-29-26
Olivia
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
../
,---"
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Renville
600
1,
6. Condition figures, as of (date*),
4-29-26
Loans and discounts:
On real estate
Other
63,463.43
Total loans and discounts
17,115.80
Real estate acquired in satisfaction of debts
Investments
•••11••••• Ord.=MP
/,34J./0
7,806.07
All other resources
,{343,7705.30 h7.313/0
Total resources
$15,000.00
Capital
5,500.00
Surplus and undivided profits
Deposits:
)$
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$39,843.93
23,178.77
63,022.70
Total deposits
•••••••11. NNW
Borrowings from F. R. bank
6,208.50
Borrowings from other banks
OM.a•M• .10a,
All other liabilities
49,131.20
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
_
Secured claims. .. .
Preferred claims. ..
General claims. .
Total claims. ..
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes H so give..
10-14-30
Collections:
$
From liquidation of assets
44,657.38
512.50
From assessments on shareholders
Other collections (explain)
Int on daily bal
608.99
$45,778.87
Total collections
0696.49
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
wit
iritftfoicin
Total payments
Per cent of payments
to claims allowed
collateral
advance
Secured claims. . ..
Preferred claims. . . $23,12375
42,478 4L
.
4)
423
General claims
Cl—Bills Pay__ .6120
: .,
, -,-;--cr . 7. rrif_„.,
Total claims
0 • 1
.
a-
I
23,123.75
0_
3,123.75
4,460.23
6.20 ,50
sof ' 0
,208.50
n'
.
100%
10.5%6
100% -
qQ.t)
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Fr Q.Z erl. assets & depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
40
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $15,000* Assessment ordered 7-24-26
•
#511
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
State bank
LI Trust company
Ej Stock savings bank
o
o
Mutual savings bank
Minneso
Private bank
•
1. Name of bank
First State Bank
2. Date organized
9-14-04
Date suspended
Town or City
12-28-23
3. Federal reserve district
Orleans
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Kittson
100
6. Condition figures, as of (date*)
12-28-23
Loans and discounts:
On real estate
Other
$ 121,283.59
Total loans and discounts
11,353.27
Real estate acquired in satisfaction of debts
MOM OM.NEW
Investments
5,049.27
All other resources
137,686.13
Total resources
$15,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$29,230.36
52,663.01
$
Total deposits
81,893.37
Borrowings from F. R. bank
37,658.65
Borrowings from other banks
All other liabilities
149"—r'5274421Y1floillit 3
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened_
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
YeS
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
chi
xffilintawi
collateral
& advance
,
Secured claims..
Preferred claims
d
4
,3,697.65
Genual claims
Cl—Bills Pi-
77 301.97
19,271.96
- 7,e_1406.' -- „..,—:—.-:—.
$3,697.65
10. Has this bank been finally liquidated?
Total payments
._
$3,697.65
•
Per cent of payments
to claims allowed
19,271.96
_—
100%____
25%
9T46
4
3- 7nia. fi- -11
7;97111 a ' . I 43 --- .3: - 7
1
If so give:
Date liquidation was completed
'Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $15,000; Assessment ordered 12-8-25
•
#1051
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
r] National bank
Name of State
[31 State bank
El
Trust company
[11
Stock savings bank
EJ
Mutual savings bank
Minnesota
(:) Private bank
•
1. Name of bank Oronoco State Bank
2. Date organized
9-2-13
Date suspended
3. Federal reserve district
TOWn
or City Oronoco
7-6-23
County Olmsted
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
275
6. Condition figures, as of (date*)
7-6-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
51,542.22
•••••••••••••••
Real estate acquired in satisfaction of debts
100.00
Investments
10,067.56
All other resources
$61,709.78
Total resources
10,000.00
Capital
2,
000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
$16,472.18
Demand deposits, including U. S. Govt. deposits
30,046.30
Time deposits, including postal savings
$
Total deposits
46,518.48
•••••••
Borrowings from F. R. bank
3,000.00
Borrowings from other banks
All other liabilities
/7 3
4 -t• °
$19,51.8.112,11,70/.78
Total liabilities
7. Has this bank been reopened?
Date of reopening
Secured claims
Preferred claims
General claims
Yes
If so give:
12-17-23
Name under which reopened
Loss to depositors on:
the same
Amount of loss
None
None
Per cent of loss
to claims
••••••••••••••••
411•••••••<•
. SRO
,
66 2 %
/3
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. . .
General claims. . . .
Total claims. ...
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. .. .
Total claims.. . .
Dividends paid from
collections
Payments from
guaranty fund
1 1. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended'
Yes
If so, give dates and amounts of all assessments
2,500 - Paid - 1-1-26
500 - Paid - 5-21-26
0
/1
'/2 p
•
#1096
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
XJ State bank
El Trust company
o
Stock savings bank
El
Mutual savings bank
o
):P
11
lerio
Private bank
Minne sota
•
1. Name of bank Ortonville State Bank
2. Date organized
5-20-14
3. Federal reserve district
Town or City
Date suspended 1-11-26
c_
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
0 t onvi.lie County
_.---
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Bigr Stone
2000
6. Condition figures, as of (date*)
1-11-26
Loans and discounts:
On real estate
Other
$ 116,543.76
Total loans and discounts
26,901.80
Real estate acquired in satisfaction of debts
473.35
Investments
{16,168 70
34,1
All other resources
$1-6.-631
6704347
Total resources
AvO
$20,000.00
Capital
5,000.00
Surplus and undivided profits
•
Deposits:
Due to banks**
) $
Demand deposits, including U. S. Govt. deposits
)
Time deposits, including postal savings
p53,716.32
67,446.14
$ 121,162.46
Total deposits
••••
Borrowings from F. R. bank
14,000.00
Borrowings from other banks
194.14
All other liabilities
I
f
Total liabilities
7. Has this bank been reopened?
•
1i0,356.60
If so give:
Date of reopening
Name under which reopenecL__
Loss to depositors on:
Amount of loss
Per cent of loss
to clainis
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
macipmfmrd
Total payments
Per cent of payments
to claims allowed
collateral
& advance
Secured claims. . . .
Preferred claims...
$111.10
$111.10
-0
$111.10
o-28,884.40
$14,000.00 14,000.00
General claims.. .115,537.61 28,884.40
;000i00 .
-a-B11-18- P.,- • 14---648-4-7-1 . 'fi .'", -1 .1(I":
.
E-..
Totai-eiainf§."1•12-9,
..iii, 04
,
115.14 112- i-n
10. Has this bank been finally liquidated?
Date liquidation was completed
100%
25
0
- - -1
i
119.7f ii 6-. - f
ol'il.9 9 5. 5"c.)
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
Voluntary 16% - $3200 - Paid 9-26-24
Statutory assessment $20,000, Assessment ordered 9-11-26
•
#294
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
.form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
CQ
0 National bank
Name of State
X] State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Osakis State Bank
2. Date organized
Town or City
3-16-1900 Date suspended 3-16-26
3. Federal reserve district
7
Osakis
County
.'
Population of town or city ,480
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Douglas
6. Condition figures, as of (date*)
3-18-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
41') 842•95
45,091.58
Real estate acquired in satisfaction of debts
W,(
0
2,500.00
ill, 7-11- is—
(19,789.68
Investments
All other resources
.44
214z-14221-4-7.-Ea41/,i/3r1
Total resources
$40,000.00
Capital
10,00C.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$93,464.24
305,242.39
$ 398,708.63
Total deposits
Borrowings from F. R. bank
42,729.36
Borrowings from other banks
All other liabilities
$471,435.99
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
_pAyments from
)(0niSn'ain
Total payments
collateral
Per cent of payments
to claims allowed
.
—&—advanee-Secured claims. ...
Preferred claims. .
P,15 590.04 $15,590.04
'
GDapral claims. .. . 365,315.85 127,348.22
a-Bills Pay
Total claims. ..'.-
$15,590.04
'
o---42,729.36
5 . :;( q ri y,
L.,
.
4
10. Has this bank been finally liquidated?
Date liquidation was completed
.
$42,7e9.36
p •- , r: ,
,7, ' i.
100%
127,348.22
42,729.'66
356/
.
1014%
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Frozen assets & depleted reserv
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
$41,2°0 Paid 12-13-24
Statutory assessment $40,000; Isessment ordered 9-7-26
•
#584
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
22 State bank
O Trust company
• Stock savings bank
o
o
Mutual savings bank
Minnesota
Private bank
•
1. Name of bank Citizens State Bank
2. Date organized
8-22-05
3. Federal reserve district
Town or City
Date suspended 12-1-27
7
Oslo
County Marshall
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
365
6. Condition figures, as of (date*)
12-1-27
Loans and discounts:
On real estate
Other
$ 153,828.54
Total loans and discounts
51,143.11
Real estate acquired in satisfaction of debts
..em• ...•••••
Investments
1
14.8
(12,899.11
All other resources
1
g43.±-7 8.44,...74. ,y4,(,19.4 1
7
Total resources
$20,000.0_0_
Capital
15,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$61,104.59
80,583.10
$ 141,687.69
Total deposits
Borrowings from F. R. bank
••••••••=k0
49,931.92
Borrowings from other banks
•
11.•••••••
All other liabilities
619.61
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
0111T
Total payments
Per cent of payments
to claims allowed
collateral
,
Secured claims
Preferred claims
$7,804.29
$4,914.15
63%
0
-
'25,685.76
01—Bills Pay“ 49,931.92
General claims
Total claims-v-4 I: '
(7—
,914.15
4,
$35 854..32
4.
.i1ii
10. Has this bank been finally liquidated?
Date liquidation was completed
1. - f., it
35,854.32
4
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. ...
Total claims. .. .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
p, cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended'
Yes
1004) - $20,000 - 11-28-24
5T/0 -
10,O'00 - 11- 3-25
50% - $10_000 - 2-10-27
If so, give dates and amounts of all assessments
.
Palo. 1-22-25
Paid 3-31-26
Paid 5-28-27
Statutory assessment $20,000; Assessment ordered 5-21-28
•
#587
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
3 State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
minneRota
O Private bank
•
1. Name of bank
2. Date organized
First State Bank
9-11-05
3. Federal reserve district
Town or City
Date suspended_3-3-23
7
0131Q_
County
Population of town or city*
365
Member or nonmember of F. R. System___2
1
4. Number of branches operated: In city of parent bank_
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Marshall
6. Condition figures, as of (date*)
3-3-23
Loans and discounts:
On real estate
Other
$ 142,916.38
Total loans and discounts
2,242.93
Real estate acquired in satisfaction of debts
MED •IM In••• OEM
,
Investments
5,075.54
All other resources
150,234.85
Total resources
$10,000.00
Capital
Surplus and undivided profits
Deposits:
Due to banks**
) $
Demand deposits, including T.T. S. Govt. deposits
19,709.80
Time deposits, including postal savings
47,752.91
$
Total deposits
e....•••••••••••••
Borrowings from F. R. bank
46,
Borrowings from other banks
31586.
.
If.r
Total liabilities
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
72J7-i
26,120.58 =
$140,1C/3.co Iio 341(/
All other liabilities
7. Has this bank been reopened?
67,462.71
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims. ..
General claims. .. .
Total claims. .. .
10. Has this bank been finally liquidated?
Date liquidation was completed
Ye S
If so give:
1-4-30
Collections:
From liquidation of assets
$
45,331.86
7,085.00
From assessments on shareholders
im and int on bal
Other collections (explain
741.43
$53,158.29
Total collections
73.54
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
--
Secured claims
$3,072.09
Total payments
matorxtmft
collateral &
aavence__
.....,
......
--
$32 072.09
General claims.. . . 62,187.53
GEn Cl-Bills Pay - -7a--700.;;
I
& Redis , Total claims..
Payments from
21 512.38
Preferred claims
2
.)
•
•
2
......
3,O72.09
—
i.
Per cent of payments
to claims allowed
.
6,110.
100%
2 52
138
__ )
.._
4.04%_
1
w
'
44,031.
_
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted..rP.sp.rve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
09600 - Paid - 1-16-23
Statutory assessment S10,000; Assessment ordered 5-24-25
•
#767
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
O State bank
O Trust company
O Stock savings bank
El Mutual savings bank
Minne sofa
O Private bank
•
1. Name of bank Farmers State Bank
2. Date organized
3-25-08
3. Federal reserve district
Date suspended
Town or City
11-1-30
Ottertail County Ottertail
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank_
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
285
6. Condition figures, as of (date*)
11-1-30
Loans and discounts:
On real estate
Other
61,369.95
Total loans and discounts
6,464.92
Real estate acquired in satisfaction of debts
rA\
Investments
10,000.00
9,984.82
All other resources
$87,819.69
Total resources
15,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$27,465.50
28,790.38
$
Total deposits
56,255.88
Borrowings from F. R. bank
14,000.00
Borrowings from other banks
11124(
-
All other liabilities
$?-0,255.0037, g/1, 4/
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
YeS
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
•
Claims allowed
Dividends paid from
collections
Claims not passed on
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. ..
General claims. .. .
Total claims. ...
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
DepietPsi..ZPAP.r.VP...........
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Stattitory assessment $15 000* Assessment ordpred 1-7-31
•
#1441
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
• National bank
Name of State
IX] State bank
• Trust company
• Stock savings bank
El
Mutual savings bank
o
Private bank
Minne sofa
•
1. Name of bank
2. Date organized
Farmers State Bank
7-2-19
3. Federal reserve district
Town or City
Park Rapids County Hubbard
Date suspended
12-29-23 Population of town or city* 1603
7
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
12-29-23
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$
Total loans and discounts
114,307.04
7,296.19
Real estate acquired in satisfaction of debts
88.00
Investments
(15,322.39
All other resources
$13r:t3ea3T•reap4o,
Total resources
n.Y4',/
$20,000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
$23,105.79
Demand deposits, including U. S. Govt. deposits
53,222.17
Time deposits, including postal savings
$ 76,327.96 /
Total deposits
MOO ORM .=••4WD
Borrowings from F. R. bank
Borrowings from other banks
39,823.30
.
.
•
All other liabilities
$140 151.26
,
Total liabilities
7. Has this bank been reopened?
74,-n
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
AtMthil re
ki
Total payments
Per cent of payments
to claims allowed
collateral
& advance
--
Secured claims. . .
$328.92
--
$328.92
100%
,
912.67 ` 5,666.71
52666.71
General claims. •,/--$59,8-23- -3 39 823.30
.
1 C1-Bills P. : 8-23.30
' -- .,
q
-,3 , =-- .', /
- -' i- .--- ,/ . /•-,i/ — Total claims$.12i •.. A 2.•
7%
100%
Preferred claims. .
ci
$38.92
;
----)
•-)
•
o
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
el
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $20,000; Assessment ordered June 5 '25
•
#428
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
[20
Name of State
State bank
v.1 4
LII Trust company
• Stock savings bank
o
o
Mutual savings bank
Minnesota
Private bank
•
1. Name of bankState
2. Date organized
Bank of Parkers Prairie City Parkers
TOWT1 or
6-25-03
Date suspended
8-24-23
3. Federal reserve district
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
ail
700
6. Condition figures, as of (date*)
8-24-23
Loans and discounts:
On real estate
Other
$ 191,206.68
Total loans and discounts
9,640.96
Real estate acquired in satisfaction of debts
6,845.00
4if.
(11,542.87
Investments
All other resources
$41-4T194-5-ki-11 /004141
/1
"
Total resources
$15,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
) $33,291.25
132,812.60
$
Total deposits
Borrowings from F. R. bank
AMP MIRO ONO MN.
32,800.00
Borrowings from other banks
•
3,820.35
All other liabilities
$220,724.20
Total liabilities
7. Has this bank been reopened?
166,103.85
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . ..
Preferred claims. ..
General claims. ...
Total claims. . ..
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
4-a5-30
Collections:
$69,232.19
From liquidation of assets
9,205.99
From assessments on shareholders
Other collections (explain) Int Ori
daily baj.
913.01
$79,351.19
Total collections
$
Offsets to claim (loans paid, etc.)
1,479.58
Payments to depositors:
(Amounts in dollars)
_ -r—
,--
,,--
$9,364.66
$9,364.66
$9,364.66
164,218.94
32,800.00
12,348.66
1,351.50
12,348.66
$29 2 070.50 30,422.00
roT1.'—
1- 9, c7/
:.i1,115. q
Preferred claims
a
&Mf3 itm
ilay
Payments from
Per cent of payments
to claims allowed
Secured claims
Total claims
Dividends paid from
collections
Total payments
Claims allowed
$
. .
•
,
'
)._3, ,!), Zo ,6%.
ATfa era
_. .-
100%
- - 0
-.7.-;2 93%
-.)
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
FX.(net) agSet$
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
200 / - 830,000 - Paid 2-17-23
1
Statutory assessment $15,000, Assessment ordered 6-17-25
•
#1122
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
rj State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesata,
O Private bank
1. Name of bank State
2. Date organized
Bank of Pease
8-13-14
Date suspended
3. Federal reserve district
Town or City
Pease
County
12-13-24 Population of town or city* 175
Member or nonmember of F. R.
System"
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Mille Lace
6. Condition figures, as of (date*)
12-13-24
Loans and discounts:
On real estate
Other
$
Total loans and discounts
86,011.82
14,907.72
Real estate acquired in satisfaction of debts
1,442.88
vi -.v
6,114.31
Investments
All other resources
$1430,476.73/10,eigterV
Total resources
$15,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$
$32,702.64
41,816.46
$
Total deposits
74,519.10
Borrowings from F. R. bank
17,842.11
Borrowings from other banks
636.81
All other liabilities
0,998.02
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Payments from
guaranty fund
.,
Claims allowed
.
Total payments
Per cent of payments
to claims allowed
_
Secured claims. . .
$6,122.03
Preferred claims..$6,122.03
833.71
G.or)e_ral claims.. . 61 .
1-Bills Pay
Total claims.
$6,122.03
12 716.74
. ,-`
---12•50r00.---$-1-7.;592...-11
100%
12,716.74
- )1"
!:..:. ---.
,, 1- . . ----1-4-4-Z`5"""r — .""4-7—:":*7/-'1"---______
:4
4 "
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
_
Claims allowed
Secured claims
Preferred claims
General claims
Total claims. .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Frozen assets and
Depleted.res-erve
X
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
Voluntary assessment of $2,000 paid 4-29-24
Statutory assessment $15,000; Assessment ordered 6-4-26
•
#1019
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O National bank
XI State bank
Name of State
O Trust company
O Stock savings bank
O Mutual savings bank
o
aota
Private bank
•
1. Name of bank Peli can Rap ids State Ban' OW11 or cityPeltc_m 1_1_81 Iactzunty
2. Date organized
12-3-12
3. Federal reserve district
Date suspended
11-19-26 Population of town or city*
7
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Ott er Tail
6. Condition figures, as of (date*)
11-19-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
280,052.35
9,
468.00
Real estate acquired in satisfaction of debts
Investments
14,000.00
All other resources
10,648.90
$314,169.25
Total resources
$10)
000.00
Capital
7,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)
Demand deposits, including U. S. Govt. deposits
$51,779.68
Time deposits, including postal savings
219,
684.71
$
Total deposits
271,464.39
Borrowings from F. R. bank
25,000.00
Borrowings from other banks
76
0
4BZ
,
All other liabilities
$29-8,484393/4, /41. 7-
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
YesIf so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
Nfifferal
Total payments
Per cent of payments
to claims allowed
$9,173.93
$9,173.93
$9,173.93
100%
Preferred claims..8,742.49
8,742.49
8 2 742.49
100%
249,841.23
87,444.42
Secured claims. . .
General claims. ..
, v., fr. I,
.
Total claims. . . S242 757,66
.
Q 0', 7 i; 7. (ic
10. Has this bank been finally liquidated?
87 v 444.42
35$
$25,000.00 . , ..., .,-„,
25,000.00
10010,
,v,,, .,..,-- ji ! .
,-+- .--4
t) 4 '. 3 i)
-
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. ...
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Deplete.d re.serve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
qip
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension'
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
..
bank suspended'
No
If so, give dates and amounts of all assessments
Statutory assessment $10 000' Assessment ordered 5
•
+1033
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
EX State bank
O Trust company
D Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Farmers State Bank
2. Date organized 2-2513
3. Federal reserve district
Town or City Pemberton
Date suspended 12-14-27
7
County Blue Earth
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
100
6. Condition figures, as of (date*)
12-14-27
Loans and discounts:
On real estate
Other
$
Total loans and discounts
92,522.18
23,180.00
Real estate acquired in satisfaction of debts
8,453.13
/ A/6 IP. II,
Investments
i
20,258.49
All other resources
1
Total resources
,
'144 B04/4
.
1
$14,000.00
Capital
3,500.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$36,333.71
92,544.95
$ 128,878.66
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
All other liabilities
$145-878.66
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
_
Secured claims. .. .
-
Preferred claims. ..
General claims. . ..
Total claims.. .
Yes
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
5-28-30
Collections:
$106,188.74
From liquidation of assets
13,100.00
From assessments on shareholders
Int daily bal
Other collections (explain)
1,1C7.30
$120,396.04
Total collections
812,333.97
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims
$107.3
Preferred claims
118,374.1
General claims...
Total claims
1.
:
0
$107.33
115,947.50
G
$107.33
0
--
115 2947.50
e"
I I G i l b b,
100%
97.95%
// 0
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Lack of reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension ?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
$10,500
Yes
If so, give dates and amounts of all assessments
Paid 5-4-25
$11,200 - $3,800 Paid 12-1-27
Statutory assessffient 414,000i_Assessment ordered 7-7-28
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
MI
State bank
Name of State
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
First State Bank
2. Date organizedDec.8,1908
Town or City
Date suspendedsLan
3. Federal reserve district
PeqUOt
County Crow Win_g
4921Population of town or city* 550
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
S
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
.v
6. Condition figures, as of (date*)
1-11-21
Loans and discounts:
On real estate
Other
$77,559.96
Total loans and discounts
2,837.15
Real estate acquired in satisfaction of debts
272.42
Investments
8,978.00
All other resources
89,647.53
Total resources
$10,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$20,356.66
26,852.11
$ 47,208.77
Total deposits
Borrowings from F. R. bank
25,289.90
Borrowings from other banks
All other liabilities
72
Total liabilities
7. Has this bank been reopened?
. iff 44/-‘
G7
5
If so give:
Date of reopening
Name under which reopened__
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. ...
Preferred claims.
General claims. ...
Total claims. . . .
10. Has this bank been finally liquidated?
Yes
If so give:
Dec. 4, 1929
Date liquidation was completed
Collections:
s 50,581.08
From liquidation of assets
5,521.18
From assessments on shareholders
Other collections (explain)Int on daily balances
633.80
$56,736.06
Total collections
$
Offsets to claim (loans paid, etc.)
1,453.20
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
$4,852.83
$4,852.83
____
$4 s 852.83
100%
General claims.... 47,981.37
132613.69
I ..
____
13,613.69
289490-
-24-70F,t
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims
n-C1----131-1-1-s--
i -25.-i-289-.9
- 0
Total claims...1. :::••"."2-1!":"=:11. ‘-rnfoT;"4(2Fal' --c —""" ---.. -- .
:: ; l4-1
* .
-1
"rAmigy"
T 2„ 9- 3Nt ,20 1 i i kl into, 5-9
I iiAlic,62.
-
3St ell)
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)..
Q.Z= . assets
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Statutory a.RRAR qment
If so, give dates and amounts of all assessments
000; Assessment ordered 5-2-23
•
#610
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
▪ National bank
L
Name of State
State bank
ri Trust company
• Stock savings bank
o
Minnesota
Mutual savings bank
O Private bank
•
1. Name of bank
First State Bank
2. Date organized
2-28-06
Date suspended
3. Federal reserve district
Town or City
8-5-29
Perley
County
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Norman
300
6. Condition figures, as of (date*)
8-5-29
Loans and discounts:
On real estate
Other
$
Total loans and discounts
125,929.70
12,720.00
Real estate acquired in satisfaction of debts
\ 2(z) 10,444.25
0
Investments
(8,184.71
All other resources
$157,278.66- /4118 1 8/7
Total resources
$20,000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$50,311.43
70,705.07
$ 121,016.50
Total deposits
Borrowings from F. R. bank
16,867.50
Borrowings from other banks
•
All other liabilities
$167,884.00
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
Yes
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
Total payments
Per cent of payments
to claims allowed
cOMITV1
a vance
Secured claims. . .
88,150.31
Preferred claims..
1,897.09
100%
0
1,897.09
100%
c--
43,050.35
1,897.09
102 487.58
rS
8,150.31
88,150.31
43,050.35
$ r-: ,1
cYfinfiVginisay !,irlowli 4: -------&---- -- ...4O
3 ?' .
Total claims. .
H
10.
$16,.867.5016,867.5G-—
) L,
a ci
.1 J
Has this bank been finally liquidated?
--
.1,1
4
10
.c-ii. 1
-
'
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims.
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
X
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended
Yes
25% - $5 000 - 6-3-24
If so, give dates and amounts of all assessments
P-lid 6-14-24
Statutory assessment $20,000
Assessment ordered 10-10-2
411
#1479
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El
L
361
National bank
Name of State
State bank
DI Trust company
• Stock savings bank
El
Mutual savings bank
Yinnesata
O Private bank
•
1. Name of bank
Pierz State Bank
2. Date organized
3172
-- 0
3. Federal reserve district
Date suspended
7
Town or City
Pi
TZ
County
1-30-24 Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Mn rri son
600
6. Condition figures, as of (date*)
1-30-24
Loans and discounts:
On real estate
Other
$ 58,053.92
Total loans and discounts
Real estate acquired in satisfaction of debts
Investments
W/1
,011 8
3.7
All other resources
$9-2147-26-6.97474,1
Total resources
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
$9,502.13
Time deposits, including postal savings
18,106.62
$ 25,608.75
Total deposits
Borrowings from F. R. bank
7,500.00
Borrowings from other banks
29,512.75
All other liabilities
VA 621.50
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
_
Secured claims
Preferred claims. . .
General claims. ...
Total claims. . . .
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
12-16-29
Collections:
$ 26,443.05
From liquidation of assets
900.00
From assessments on shareholders
Int on daily bal
Other collections (explain)
44.77
$271 387.82
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
VIRMIXXXSIX
Total payments
Per cent of payments
to claims allowed
collateral
Secured claims
_
-
.
$292.88
$292.88
$418.40
.
0 Q y 807.79
,,
2
General claims. ..
Gen )1-B111s ..E..4...-vie• "z• - 75------____- '.."....-- - , --=-44T9 -0.' . - • 4,str.•
56
2.
. ------_,...... — NM
L„.„........ -,• 4
,.,,,,:........-•-•'- __,
ill
Redi 3. Total claims. . V.
,
-
70%
Preferred claims
,
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered
9-17-25
•
#688
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
State bank
•
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank Sta te
2. Date organized
Bank of PinP Islanlown or City
8.-5-07
Date suspended
3. Federal reserve district
P trW—T-ELIII1Ctounty Goodhue
5,26-24 Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
950
6. Condition figures, as of (date*)
5-28-24
Loans and discounts:
On real estate
Other
$ 646,783.52
Total loans and discounts
17,922.75
Real estate acquired in satisfaction of debts
Investments
1v.6. 3S
(50,393.33
All other resources
$-7-16-FG4a.-6497/4,3.6../8
Total resources
$10,000.00
Capital
25,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$67,844.30
613,508.68
$ 681,352.98
Total deposits
Borrowings from F. R. bank
•
Borrowings from other banks
All other liabilities
IL352.98
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of Toss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
.
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
.
c".
Secured claims. .. .
.
Preferred claims.. . , g 2,455 3
General claims.. ..i664,538.0 4.
•
g2)
455.37
232,624.53
Total payments
-
Per cent of payments
to claims allowed
•
2,455.37
100%
232,624.53
35%
.
.
Total claims:. . 666,993 4
,
2 ? 6d `r'4—
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).
Q $ j,37.e.NOXth.13.81c.cita . inv.e at111 er t8
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $101000, Assessment ordered 11-28-25
•
#1155
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El
‘`o ,(1
National bank
SI State bank
Ei
z.$10
Name of State
Trust company
11] Stock savings bank
El
Mutual savings bank
M inne sofa
LI Private bank
1. Name of bank
Farmers State Bank
2. Date organized
1-23-15
Date suspended
Town or City Pine
12-3-29
3. Federal reserve district
River
County
Population of town or city*
Member or nonmember of F R Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Cass
600
6. Condition figures, as of (date*)
12-3-29
Loans and discounts:
On real estate
Other
$ $79,435.34
Total loans and discounts
4,067.28
Real estate acquired in satisfaction of debts
21,589.27
Investments
21,740.60
All other resources
126,832.49
Total resources
$20,000,00
Capital
4000.00
Surplus and undivided profits
Deposits:
)$
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$76,226.31
23,363.78
$ 99,590.09
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
2,000.00
All other liabilities
/
7. Has this bank been reopened?
-1,,z1,4.,40
101,5.90 09
-340,337—•41
Total liabilities
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
,
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
YeS
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
gmantiyAnild
Total payments
Per cent of payments
to claims allowed
collateral
Secured claims. . .. $28,817.9
$21,965.45
$21,965.45
76%
3,465.71
3,465.71
100%
32465. 1
Preferred claims. ..
r
....is
58,006. 1 17,465.09
....
.
Ammo,$0 290. 3 117,q(1i- . .
,
Total claims. ... -492,
6
17,465.09
2,000.00
3
10
•
Ili/if 4 .
0
L1
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
_
Secured claims
Preferred claims
General claims. . ..
Total claims
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
' 40% - Voluntary $4 800 - 4-18-21
Statutory assessmant $20,000
Paid
,4
-
Assessment ordered R-27-30
er
#627
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
E
Name of State
State bank
Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank_Plainview State Bank
2. Date organized
8-1-08
3. Federal reserve district
Town or City
Date suspended_3-4-25
7
Plainview County
Population of town or city*
Member or nonmember of F. R. Systetn
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Wabasha
1500
6. Condition figures, as of (date*)
3-4-25
Loans and discounts:
On real estate
Other
$ 696,481.34
Total loans and discounts
17,400.00
Real estate acquired in satisfaction of debts
Investments
All other resources
74-e-raer31-fiv4iq.11 v
Total resources
$30,000.00
Capital
30,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$101,845.68
530,394.09
$ 632,239.77
Total deposits
Borrowings from F. R. bank
•••••••••
572940.00
Borrowings from other banks
All other liabilities
...III NW...
• 0,179.77
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
Yes
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
__
Payments from
4f,rmyrt ugfi x
i
cgiiateral
& advance
Per cent of payments
to claims allowed
Total payments
Secured claims
Preferred claims.$ 05,424.82 $105,424.82
.4General claims. :12 804.76 215,162.24
- - -,--0 .
- 00
Gen 01—Bills P. , .1. 76,169.58 - - 12) - 77—
2 .
Total claims
:
•
10. Has this bank been finally liquidated?
$105 424.82
)
.
215)
162.24
7- -9,407.
,
-00 -- --i, 940
57
;
-i;:.
100%
35%
- 3:00go
,
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
.
Preferred claims. ..
General claims
Total claims. ...
0q2
Cdoir
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $30,000; Assessment ordered 10-19-25
•
#1374
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
E:1 National bank
la
,
Name of State
[1] State bank
FJ Trust company
▪ Stock savings bank
o
o
Mutual savings bank
Minnesota
Private bank
1. Name of bank
2. Date organized
Farmers State Bank
9-4-17
3. Federal reserve district
Date suspended
Town or City
_81826
7
Plummer
Population
County
of town or city*
Member or nonmember of F. R Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
*Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Red Lake
300
6. Condition figures, as of (date*)
8-18-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
79,107.78
3,416.65
Real estate acquired in satisfaction of debts
Investments
1
All other resources
632..92
1/
MI/ /
6-9'871-64-erZ& 1)3,
'
Total resources
$12,000.00
Capital
174.36
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
25,379.32
51,984.44
$ 77,363.76
Total deposits
Borrowings from F. R. bank
13,050.00
Borrowings from other banks
mar mmr 11•10•0••
All other liabilities
$90,413•
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation? Yes
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
General claims. . .
Cl-Bills Pay
Total payments
Per cent of payments
to claims allowed
collateral
__
Secured claims. ...
.$6,479.97
Preferred claims.
Payments from
xmlunArdsisi
& advance
,
$6,479.97
71,006.46 21,544.78
13,050.0 -
$6,479.97
•b
$13,050.00
Total claims. . . .1,•
.,
. .i
-
11 )H V-43
10. Has this bank been finally liquidated?
100%
21,544.78
13,050.00-
3
10
--
.3 a hLiir?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $12,000* Assessment ordered 11-0-26
•
#519
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
ink 9E%
Name of State
State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
First State _Bank
2. Date organized
10-24-04
3. Federal reserve district
Town or City
Date suspended_7-14-3
0
7
Plummer
County_Red--Lak-e-
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
300
6. Condition figures, as of (date*)
7-14-30
Loans and discounts:
On real estate
Other
110,522.15
$
Total loans and discounts
12,933.96
Real estate acquired in satisfaction of debts
\
Investments
10,339.04
$
//
q.q 3
(7 968.84
All other resources
$141,7cal-aeq4083-iv
Total resources
$102 000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
49,00308
71,449.96
$ 120,453.04
Total deposits
Borrowings from F. R. bank
6,430.88
Borrowings from other banks
All other liabilities
$1
4 883.92
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
xmlintotx5mk
collateral
$9,192.24
.
Secured claims. . . . $9 2 192 24 i
Preferred claims. .. 11 2 121.09
120.58
450.63
6,430.88
Cl—Bills Pay'
Total claims..$1.21 ,194.84_
7..X.=-.
2, ",l i =3.
General claims.. ..r94 P
-
,
10. Has this bank been finally liquidated?
,
Date liquidation was completed
,
$3,709.19
5, I
' 119,
Total payments
Per cent of payments
to claims allowed
$9,192.24
100%
120.58
1%
3,709.19
58%
9. /6 \ (1. Is 'J_
. /0•
7
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
-
Secured claims
Preferred claims
General claims. . . .
Total claims. . ..
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Poor paper
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 11-7-30
•
#538
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
aC] State bank
• Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
2. Date organized
Security State Bank
1-3-05
Date suspended
3. Federal reserve district
Town or City
5-29-25
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Princeton county Mille Lacs
Outside city of parent bank**
..-------
4----
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
2000
6. Condition figures, as of (date*)
5—.29-25
Loans and discounts:
On real estate
Other.
$
Total loans and discounts
539,808.90
27,532.07
Real estate acquired in satisfaction of debts
4,420.00
131.
t19,994.39
Investments
All other resources
501,755.31544k. o
f
Total resources
$32,000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$182,559.63
369,322.27
Time deposits, including postal savings
$ 551,881.90
Total deposits
Borrowings from F. R. bank
4,805.00
Borrowings from other banks
•
All other liabilities
;
Total liabilities
7. Has this bank been reopened?
,686.90
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Secured claims. . .
4,330.21
•
..•:',/,',r,i,, ,
•
-
-
,..
_-
Total payments
$7,103.42
4 I 330.21
Per cent of payments
to claims allowed
100%
100%____
,
106,321.96
4,805.00
•
Tota1-elaims-4 - • - :!
ccT a era].
8, advance
4,330.21
General claims. . . - 31,540.31
1
;
-0-1---B1- -1s- P-
Payments from
$7,103.42
..
$7,103 4
Preferred claims . .
Dividends paid from
collections
106,321.98
20%
-"T h .9
---
•
4- --...,805,00
$
' n ,1
If so give:
10. Has this bank been finally liquidated?
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims. ..
General claims
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
75% - $24,000
If so, give dates and amounts of all assessments
Paid 3-1-2
4
Statutory assessment $32,000, Assessment ordered 3-6-26
•
#976
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
• National bank
50
Name of State
State bank
O Trust company
▪ Stock savings bank
O
Minnesota
Mutual savings bank
O Private bank
•
A
e an
1. Name of bank Amen can State Bank
2. Date organized
10-2-11
Date suspended
3. Federal reserve district
Ranier
Town or CityCounty
8-14-28
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Koochiching
380
6. Condition figures, as of (date*)
8-14-28
Loans and discounts:
On real estate
Other
$ 49,804.06
Total loans and discounts
8,531.10
Real estate acquired in satisfaction of debts
16,224.24
lo
Investments
14,870.69
All other resources
$89,430.09
Total resources
15,000.00
Capital
1,500.00
Surplus and undivided profits
Deposits:
Due to banks**
$
$31,816.57
Demand deposits, including U. S. Govt. deposits
25,992.00
Time deposits, including postal savings
$
Total deposits
57,808.57
Borrowings from F. R. bank
7,500.00
Borrowings from other banks
.1V
All other liabilities
$er
ciR = "
48 57gi, 43o.ocf
Total liabilities
Yes If so give:
7. Has this bank been reopened?
Date of reopening
12-13-28
Name under which reopened
Loss to depositors on:
the same
Amount of loss
Secured claims
None
Preferred claims
None
General claims
Per cent of loss
to claims
1/111 .1110•••I.
•••••
60%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claiins
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. . .
Preferred claims. .
General claims. .
Total claims
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. ...
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)......P.QQ.r. as.s?ts
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
50% - 410,000 - 12-1-24
If so, give dates and amounts of all assessments
Paid 3-6-25
•
#1440
FEDERAL RESERVE COMMITTEE ON
BRANCIL GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
/‹..
Name of State
[2] State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
2. Date organized
Citizens State Bank
7-2-19
Date suspended
3. Federal reserve district
Town or CityRed
1-10-24
Lake Falunty Red Lake
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
1550
6. Condition figures, as of (date*)
1-10-24
Loans and discounts:
On real estate
Other
$ 210,870.96
Total loans and discounts
Real estate acquired in satisfaction of debts
miir /Wadi GOP
2,681.66
Investments
22,It71;3 l
1 71
All other resources
40 4
,1760.34Y ,3 "
-
Total resources
$25,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
35,999.87
Demand deposits, including U. S. Govt. deposits
136,908.79
Time deposits, including postal savings
$ 172,908.66
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
25,000.00
All other liabilities
12,420.00
$244D,328.66
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Ye8
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
cOTTIng
Total payments
.
$3,270.39
Per cent of payments
to claims allowed
& advance
Secured claims. .
Preferred claims. .
,.
327039 4,.
327039
71,764.02 120,234.82
....,................ ..
C1-Bi11s Pay 25 000.00
__-
General claims.
Total claims. .4 milalalffekifAgrAl
AIM ..Immuainre
a
-
000.00
-
120,234.82
-arq-000.ilo
100%
70%
--,00%._—.,
---- 7
P
7
'
'.1
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted zes.erve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $25,000, Assessment ordered 3-22-25
410
#273
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
ri State bank
[1:1
Trust company
O Stock savings bank
O Mutual savings bank
O Private bank
Minnesota
•
1. Name of bank
Merchant
2. Date organized
6-1-1899
S ate Bank
Date suspended
Town or City
2-2-23
3. Federal reserve district
Red Lake Falaainty Red Lake
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
1 550
6. Condition figures, as of (date*)
2-2-23
Loans and discounts:
On real estate
Other.
$ 269,692.63
28,915.30
Total loans and discounts
Real estate acquired in satisfaction of debts
9,963.92
Investments
g,ggt;t1
is
All other resources
$334,C71
Total resources
$25,000.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
) $
Demand deposits, including U. S. Govt. deposits
$51,551.00
Time deposits, including postal savings
210,040.92
$ 261,591.92
Total deposits
Borrowings from F. R. bank
39,500.00
Borrowings from other banks
9,963.92
All other liabilities
0,055.84
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
atittXMOrgettl
I
Total payments
Per cent of payments
to claims allowed
collateral
•
Secured claims. . . .
Preferred claims...$1,895.96
1,895.96
General claims.. . 248,.206.86
62,056.08
Gen C1-Bills Pay.
Total claims. . 1.
•
.8
•---. - ,i z.., 7.- ---
av
10. Has this bank been finally liquidated?
Date liquidation was completed
/...--
-
$1,895.96
100___
/-62,056.08
tt.'00
Cri:0-0-.
... - I _ ,;
., -- c s -,- ,..
25%
________
. -
If so give:
Collections:
From liquidation of assets
Froth assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Decline in real estate values.
e.$sive..r.eal.e.stat.e.loans
Contributing
cause
X
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
41,
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspen- •
sion?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
Statutory AssBosment
If so, give dates and amounts of all assessments
25 OW' AR.s.pRAmprit ordered 12-31-24
•
#1244
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El National bank
E State bank
Name of State
O Trust company
'377
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank
2. Date organized
Farmers State Bank
2-28-16
3. Federal reserve district
Date suspended
7
Town or City
Redwood Falbzunty
2-3-26
Population of town or city*
1ember or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Redwood
3000
6. Condition figures, as of (date*)
—3-26
Loans and discounts:
On real estate
Other
$ 108,720.45
Total loans and discounts
17,
806.35
Real estate acquired in satisfaction of debts
Investments
.
..Me..am.
/
g4
(10,516.31
1
-—
$131,043710tV1
i
All other resources
Total resources
$25,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$46,662.71
45,726.85
$ 92,389.56
Total deposits
••••••••••••••111.
Borrowings from F. R. bank
2,500.00
Borrowings from other banks
14,339.55
All other liabilities
$159,229.11
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
-
Secured claims. . . .
Preferred claims. . .
General claims
Total claims. .. .
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
10-8-30
Collections:
52,604.07
$
From liquidation of assets
7,663.64
From assessments on shareholders
342.59
Other collections (explain)
$60,610.30
Total collections
$
Offsets to claim (loans paid, etc.)
Payments to depositors:
$4,631.74
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
mwmigelfgeriI
Total payments
Per cent of payments
to claims allowed
cr
$3,540.93
100%
0
16;-839r.,
27,426.80
-1-6.;-8-B9.55
31.6%
10010 /
collateral
advance
Secured claims
Preferred claims
General claims
pagint z " •
.
$3,540.94 $3,540.93
86,793.64
83975
-87'
Qin 3 39,57
27,426.80
ctwl.i3
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Frozen assets & depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Ye8
If so, give dates and amounts of all assessments
504 - $12,500 Paid J.2-17-21
30% - $7,500 - 4-7-24 - All paid but $2,000 - 3-24-24
40% - $10,000 - 12-9-24 - $9 281.59 Paid 6-8-25
4
Statutory assessment $25,000, Assessment ordered 2-7-27
#486
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
[I] National bank
Name of State
3 State bank
• Trust company
p Stock savings bank
EJ
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bankStat e Bank of - • ••i•••
2. Date organized
6-7-04
Town or City
Date suspended 3-29-26
3. Federal reserve district
Richmond
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
city
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Stearns
650
3-29-26
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$ 190,818.44
Total loans and discounts
26,378.14
Real estate acquired in satisfaction of debts
8,467.32
Investments
i
All other resources
14,11?.97
/4
/ 31v,81
4
14-'&74-1-5-.-8-7-3
4
Total resources
$10,000.00
Capital
12,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
35,648.45
Demand deposits, including U. S. Govt. deposits
168,364.42'
Time deposits, including postal savings
$ 204,012.87
Total deposits
Borrowings from F. R. bank
mime/m.
00
15,300.00
Borrowings from other banks
•
IMO ...My ..MI•
All other liabilities
$241,312.87
Total liabilities
7. Has this bank been reopened?
Yes
Date of reopening
2-14-27
Name under which reopened
Loss to depositors on:
Secured claims
Preferred claims
General claims
If so give:
the same
Amount of loss
Per cent of loss
to claims
None
••••••••••••,.....
None
•/•/.• IMO .1.0
75%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank'
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims. ..
General claims
Total claims
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).F.rozen . a s.s
s..&. e.p
ted..re.se.rir
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
Ell
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
Yes
100/0 - $10,000 - 10-2423
6
(t
2
If so, give dates and amounts of all assessments
Paid. 12-26-23
-
•
746
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
•
Type of bank reported—check
appropriate one of the following
6?
r] National bank
Name of State
• State bank
LI Trust company
LI Stock savings bank
o
Minnesota
Mutual savings bank
O Private bank
•
1. Name of bank—Fain=s State Bank
2. Date organized
-3408
Date suspended
3. Federal reserve district
Town or City Risiaville
County
8-2-2_6_ Population of town or city* 30Q
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Otter Tail
6. Condition figures, as of (date*)
8-2-26
Loans and discounts:
On real estate
Other
89,309.84
$
Total loans and discounts
295.27
Real estate acquired in satisfaction of debts
10,000.00
Investments
13
.
9,ZY41
All other resources
,
±4
9.914-279-4-85-10/40s.
a
Total resources
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$48,044.40
32,615.86
$
Total deposits
Borrowings from F. R. bank
1•411.M...II••••••
16,560.25
Borrowings from other banks
688.07
All other liabilities
$11
1908 58
.
Total liabilities
7. Has this bank been reopened?
80,660.26
If so give:
Date of reopening
Name under which reopened
Loss to depositors 011:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
$9,506.11
3,309.98
Preferred claims
Per cent of payments
to claims allowed
$9,506.11
$9* 506.11
3,309.98
100%
3,309.98
10017______
11,504.04
0
2
, 60':25-- ---100 6 -LA 1- ,560725
_,.. , •
-
57,520.21 11,504.04
-.
Cl-Bills Pay -1455-513o:25
General claims
4
•
! - • - - ,- Aji (r ,' t)‘
:
Total claims
Total payments
collateral
-&-acivarrce-
____
Secured claims. ..
Payments from
)ongeftthrgilm
' z.- ,-; v I' •
Fi 6,,.7. • •.
, 0
4 -1.
r7
10.
Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims. ..
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).....
....
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10 0003 Asesstment ordered1-2-18-26
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
7
)
.
National bank
Name of State
X] State bank
O Trust company
O Stock savings bank
O Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Peoples State Bank
2. Date organized
-19
3-17
Date suspended
Rochester
8-17-21
Population of town or city* 17,000
3. Federal reserve district
County
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Olmsted
Town or City
6. Condition figures, as of (date*)
8-17.21
Loans and discounts:
On real estate
Other.
$ 312,496.10
Total loans and discounts
Real estate acquired in satisfaction of debts
4,300.00
Investments
25,970.40
/4,70.5%83
C6 503S1,37v.33
S
I.
All other resources
Total resources
Capital
50,000.00
Surplus and undivided profits
10,000.00
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
116,699.31
Time deposits, including postal savings
128,673.02
$ 245,372.33
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
52,000.00
.
.
fj1
All other liabilities
$.567,372.33
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks butstanding.
•
8. Has this bank been taken over by another bank?
Yes
If so give:
Olmsted County Bank, Rochester for purpose
of liquidation
Oct. 19, 1921
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
None
IcIng,
Preferred claims
None
lion
General claims
None
Secured claims
$
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. ..
General claims. ...
Total claims. . . .
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims.
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Mismanagement
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture_
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension ?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
•
#1056
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
Suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
O
State bank
37-1
Name of State
• Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Farmers State Bank
2. Date organized'
10 1-13
Date suspended
3. Federal reserve district
Town or City Rock Creek
2-7-23
County Pine
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
150
6. Condition figures, as of (date*)
2-7-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
92,601.63
4,958.80
Real estate acquired in satisfaction of debts
Investments
V,/3v.91
/ 9,419.75
All other resources
f‘
8i-Gertail
09,/13
'
Total resources
$10,000.00
2,500.00
Capital
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$21 ,538.45
61,674.70
$ 83,213.15
Total deposits
Borrowings from F. R. bank
14,000.00
Borrowings from other banks
•••••••••••••••11111
,
All other liabilities
.
VD?1/13 15
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims.
General claims. . . .
Total claims. . ..
Ye$ If so give:
10. Has this bank been finally liquidated?
-8630
Date liquidation was completed
Collections:
$ 76,287.52
From liquidation of assets
6,235.05
From assessments on shareholders
Int on daily bal
Other collections (explain)
1,600.91
$84,123.48
Total collections
$
Offsets to claim (loans paid, etc.)
Payments to depositors:
7,342.35
(Amounts in dollars)
Claims allowed
_
Secured claims
Preferred claims
.9iVaiTs.
01
Total claims. ..
Dividends paid from
collections
A
.
$26.9,
$26.94
_71,187.7 .
51,454.05
ANIWAT:v:
:
!. 114M1
go
.
___,,--- .......
_. -- Wi
/
,
nirom
tajvis
Ifill
NM tera
& advance
f
,
Total payments
Per cent of payments
to claims allowed
•
$26.94
--1--4.
' 0 I tt•
100%
51 454.05
-----r--
11i2-5''.
lir?
.
. ..41
(.-r-- - •
• .---1
..-
:: : 1101.1°
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
fp
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 4-7-25
•
#1346
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
pg
r r`t
's
Name of State
State bank
1. ;1
1
O Trust company
O Stock savings bank
O Mutual savings bank
Ej Private bank
Minnesota
•
1. Name of ban
2. Date organized
Farmers State Bank
5-31-17
Date suspended
Town or City
3-29-28
3. Federal reserve district
Rock ford
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Wright
350
6. Condition figures, as of (date*)
3-29-28
Loans and discounts:
On real estate
Other
$ 62,381.60
Total loans and discounts
14,681.36
Real estate acquired in satisfaction of debts
5,704.80
4430
8.
k3,239.14
Investments
All other resources
(1
.
.
$106,00C -go/06,
Total resources
4,
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
)
30,
603.13
61,672.61
Time deposits, including postal savings
$ 922275•74
Total deposits
MIER •••••••
Borrowings from F. R. bank
2,400.00
Borrowings from other banks
All other liabilities
••=.
.11.M. OM.
IA04675.74
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Secured claims
Amount of loss
Per cent of loss
to claims
$
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
YesIf so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
graganWingt
Total payments
Per cent of payments
to claims allowed
collateral
'3,698.85
Preferred claims..
$3,698.85
r-
$3,698.85
100%
9,327.39
Secured claims. ...
6
9,327.39
100%
9 I 327.39
.
).
Generaaims.4 85,645.78
l cl
Gen 01-Bills Pa
59,956.45
---g-
',400.
'
59)
956.45
r
7400- 00---;
ai400.00
.
Total claims. .
70%
i
------
,c
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Secured claims
Preferred claims
General claims
Total claims
ovt-0,q0,49- reterw.Lrc
CCO
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Lost larKe lawsui%,bank then
closed by officers.
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
100% - 410,000 - 12-5-24
50% - 4; 5,000 - 11-18-25
If so, give dates and amounts of all assessments
Letter 7-1-25
Paid 3-2-26
Statutory assessment 410,000; Assessment ordered 6-21-26
#690
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
XI State bank
O Trust company
• Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank State Bank of Rockford Town or City
y
2. Date organized
87-07
Date suspended_12-28-25
3. Federal reserve district
Rock ford
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Wright
350
12-28-25
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$ 244,714.72
Total loans and discounts
Real estate acquired in satisfaction of debts
23,185.86
Investments
48,461.43
All other resources
21,553.04
$337,915.05
Total resources
Capital
$25,000.00
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
)
$47,839.09
234,147.39
Time deposits, including postal savings
$
Total deposits
ONO GM.
Borrowings from F. R. bank
All other liabilities
3g.61-6-74-74-833741‘°
If so give:
Yeo
5-5-26
Name under which reopened
Loss to depositors on:
111
11 349
.
1.0
Total liabilities
Date of reopening
WWII
24,688.00
Borrowings from other banks
7. Has this bank been reopened?
281,986.48
the same
Amount of loss
Secured claims
None
Preferred claims
None
Per cent of loss
to claims
General claims
MOM MI.0.11.,M110
30%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Anzount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
_
Secured claims. .. .
Preferred claims. ..
General claims. ...
Total claims. . . .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims.
Preferred claims
General claims. . ..
Total claims
•
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
trepleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
•
#1011
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
drl% 9'?
:
0 National bank
Name of State
X] State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
First State Bank
2. Date organized
10-2-12
3. Federal reserve district
Date suspended
7
Town or City Roosevelt
8-7-30
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Roseau
250
6. Condition figures, as of (date*)
——
8730
Loans and discounts:
On real estate
Other
$ 58,615.27
Total loans and discounts
4,400.00
Real estate acquired in satisfaction of debts
14 800.00
SO
4 ';
1
Investments
All other resources
/
$00,156.80 88 388.40,
Total resources
$10,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
42,087.08
Time deposits, including postal savings
30,
631.13
$
Total deposits
72,718.21
Borrowings from F. R. bank
2,670.19
Borrowings from other banks
All other liabilities
388.40
dg,
Total liabilities
7. Has this bank been reopened?
•
GINN.
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Per cent of payments
to claims allowed
Total payments
/4i:)(f
i,
-i - .
Secured claims.. . . $20 -989---z1- $14 209.24
$14,209.24
MO,:
0-
449.59
100%
tr
.
—
----
p
Preferred claims
449.z9
449.59
57708.4
Total claims....
.#14:0:
4
i.8a7818 -.3" k"1, 1 11
- :
.
Nfr
•
110411Pilittallt '
19 A
10. Has this bank been finally liquidated?
—
'
. I i. 60—
7
)
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . ..
Total claims. . . .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Poor paper
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
40
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
Yes
100% - $10,000
If so, give dates and amounts of all assessments
-
6-30-28
Paid 9-29-29
Statutory assessment $10,000; Assessment ordered11-7-30
•
#438
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
LI National bank
pci
Name of State
State bank
‘
71
LI Trust company
LI Stock savings bank
o
Mutual savings bank
Minnesota
o Private bank
•
1. Name of banIFar & Mer State Bank
Town or City Roseau
County
Roseau
tqa_3
2. Date organized
Date suspended 1-14-26
3. Federal reserve district
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
1200
1-14-26
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$ 153,654.84
Total loans and discounts
16,
289.61
Real estate acquired in satisfaction of debts
, 34,969.97
\I ti 360-1
( 28,685.81
Investments
All other resources
$2351 G00-.33Y*6.900.40
Total resources
$25,C00.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
62,977.67
Demand deposits, including U. S. Govt. deposits
133,922.73
Time deposits, including postal savings
$ 196,900.40
Total deposits
.11=0 Or.
Borrowings from F. R. bank
10,000.00
Borrowings from other banks
••••••••••••1.41.1•
All other liabilities
$20,900.40
Total liabilities
7. Has this bank been reopened?
Date of reopening
Secured claims
Preferred claims
General claims
If so give:
7-7-26
Name under which reopened
Loss to depositors on:
Yes
the same
Amount of loss
Per cent of loss
to claims
None
None
•MIDAIM••••• =Mar
35%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
_
Secured claims. . ..
Preferred claims. ..
General claims. ...
Total claims. . ..
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. ...
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
40
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Do
No
If so, give dates and amounts of all assessments
S.
272
?
4
#1480
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
State bank
0 Trust company
Stock savings bank
El
Mutual savings bank
o
Private bank
Minnesota
•
1. Name of bank
2. Date organized
Farmers
5-3-20
Town or City
Date suspended
9-9-30
3. Federal reserve district
Ros em aunt County Dakota
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
310
6. Condition figures, as of (date*)
9-9-30
Loans and discounts:
On real estate
Other
Total loans and discounts
$
65,882.80
Real estate acquired in satisfaction of debts
Investments
.11.••.111•0.~
13,461.17
All other resources
79
$,343.97
Total resources
15,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
21,062.41
39,286.48
$
Total deposits
60,348.89
Borrowings from F. R. bank
Borrowings from other banks
All other liabilities
$&e5-548.89
Total liabilities
7. Has this bank been reopened?
79,3st3,.77
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
665,76
$6,731.9!
General claims. .. . 50,861.8
$57,593.84
Total claims
Preferred claims
/
)
1 '
i:
9%
,665.76
il .
6,
I,
6 t #
.
1
.
10. Has this bank been finally liquidated?
>ee..*-
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. ...
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Poor paper
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
11-3-23 - 10% (Vol) - $150°
Statutory assessment $15,000,
Paid 4-21-24
•
#1448
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
[l] National bank
Name of State
L
State bank
o
Trust company
El Stock savings bank
O Mutual savings bank
o
Minnesota
Private bank
1. Name of bank Farmers State Bank
2. Date organized
8-16-19
__Town or City Rosewood.
Date suspended 3-24-24
3. Federal reserve district
courityMar shall
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
75
6. Condition figures, as of (date*)
3-24-24
Loans and discounts:
On real estate
Other.
Total loans and discounts
$
32,720.56
Real estate acquired in satisfaction of debts
212.35
Investments
176.00
110,141
'
:9g
All other resources
$44. 4i;t2,..mi,Gibri
7
„4.1
Total resources
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$11,042.76
12,068.83
$
Total deposits
23,111.59
Borrowings from F. R. bank
9,500.00
Borrowings from other banks
•
All other liabilities
1. ,
1 tt,611.59
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
rauggitxtath
Per cent of payments
to claims allowed
Total payments
collateral
-
Secured claims. ..
$1,443.14
Preferred claims.
$1,443.14
..4 .
1z? 4,_.
clap-st li
l 9.giyils rIs .
7 975.94
•
7,975.94
---$43„zala.Jaa_____R;5co,oc
—L-1---27-----------'
lvitairiZvAPICS,
Total claims
$1,443.14
100%
45er
1
e4
.
' ---------
q
10. Has this bank been finally liquidated?
Date liquidation was completed
)9
f
,
9 /
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims.
Preferred claims. .
General claims
Total claims.. .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
ip
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 10-10-27
•
#805
FEDERAL RESERVE CONIMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
Ex State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
2. Date organized
First State Bank
4-28-08
3. Federal reserve district
Date suspended
9
Town or City
othsay
County
Wilkin
400
10-30-23 Population of town or city*
Member or nonmember of F. R. System
None
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
--
6. Condition figures, as of (date*)
10-30-23
Loans and discounts:
On real estate
Other
2 e 3 I 2.57
Total loans and discounts
Real estate acquired in satisfaction of debts
8,500.00
Investments
1,300.00
23,283.69
All other resources
$4307.8, 6.26`13/,39G.2.6
9
Total resources
$15,000.00
Capital
12,500.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
$85,399.59
Time deposits, including postal savings
189,422.48
$
Total deposits
274,822.07 /
Borrowings from F. R. bank
129,074.19
Borrowings from other banks
All other liabilities
•
••••41•111....
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers'checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. .
General claims. ..
Total claims.
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
6-5-30
Collections:
From liquidation of assets
$
180,907.13
From assessments on shareholders
Int on daily bal, claim
Other collections (explain) And unlisted asset
Total collections
3,300.00
3,119.08
$187,326.21
Offsets to claim (loans paid, etc.)
$
15,749.65
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
--...
Dividends paid from
collections
Payments from
guaranty fund
Total payments
—
---.......
—
.....—.....
Per cent of payments
to claims allowed
—........
$2,874.72 $2,874.72
__—
$2,874.72
100%
066.38 79,077.85
General clajins. ... 252)
___
79 y 077.85
31.37%
Preferred claims
y
Total claims. . . .•
.:,---
---S'q 34/ ./
C) J'77- "7
----:- :
- 3-",-- -:— - .
1
—•
v. ,/, ,,)
-,
3;-. .
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
$14,000.00 Paid 1-22-22
Statutory assessment $15,000, Assessment ordered 4-30-25
•
#406
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
J State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Far & kter Sta_t_e_Bank
2. Date organized
1-8-03
Town or City
Date suspended 9-29-30
3. Federal reserve district
Russell
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
t---
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Lyon
350
9-29-30
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$
Total loans and discounts
190,794.77
20,943.83
Real estate acquired in satisfaction of debts
, 16,319 89
Investments
81
02,364,43
All other resources
44/
$459,393.02v43, .71
4
Total resources
$30,000.00
Capital
6,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$87,522.78
Time deposits, including postal savings
127,
005.01
$ 214,527.79
Total deposits
Borrowings from F. R. bank
3,141.00
Borrowings from other banks
•
All other liabilities
i,668.79
$21
Total liabilities
7. Has this bank been reopened?
Date of reopening
Yee If so give:
3-23-31
Name under which reopened
the same
Amount of loss
Loss to depositors on:
Secured claims
$
Per cent of loss
to claims
None
Preferred claims
None
General claims
—....--
60%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims. ..
General claims
Total claims
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims.
Total claims..
Total
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Poom.paper
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
ID
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Ye S
75% - i$22,500 - 12-19-24
33 1/3% - $10,000 - 4-60-29
If so, give dates and amounts of all assessments
Paid 15-11-25
•
#884
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
t).L1
E. National bank
]
Name of State
CE State bank
o
Trust company
• Stock savings bank
O Mutual savings bank
o
Minnesota
Private bank
•
1. Name of bank Rut hton State Bank
2. Date organized
2-28-10
3. Federal reserve district
Date suspended
7
Town or City
4—16-25
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
Rut ht on
..------
t-----
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Pip Qstone
400_____
6. Condition figures, as of (date*)
4-13-25
Loans and discounts:
On real estate
Other
$ 115,088.38
Total loans and discounts
31,703.04
Real estate acquired in satisfaction of debts
2,101.02
Investments
1
1
1 22,2143
All other resources
alti.4
$171,
Total resources
$25,000.00
Capital
Surplus and undivided profits
Deposits:
Due to banks**
$
$48,967.93
Demand deposits, including U. S. Govt. deposits
97,226.28
Time deposits, including postal savings
$ 146,194.21
Total deposits
Borrowings from F. R. bank
MOM, mm•
Borrowings from other banks
•
All other liabilities
emOrIlmagime•••
$11(1,194.21
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims. ..
General claims. . ..
Total claims. .
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
2-19-30
Collections:
$
From liquidation of assets
17,524.48
From assessments on shareholders
Int on daily bal
Other collections (explain)
105,569.27
1,803.61
$124,897.36
Total collections
$
Offsets to claim (loans paid, etc.)
6,765.63
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
$3,302.86
$3,302.86
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims
.
$3,302.86
General claims
'38,827.64 103,930.85
103,930.85
Total claims
$ 1 42,130.50 /()7,2--1-7 ) -
/57 2-3g------
100%
74.85%
75.
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
.
4
or agriculture?
If so, state what industry or type of agriculture
What was the - approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended)
Ye S
If so, give dates and amounts of all assessments
50% - $12,500 - 7-17-22
6010 -
15,000 - Paid 12-19-23
Statutory assessment $25,000, Assessment ordered 9-25-25
•
#431
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
EX State bank
28
0 Trust company
El
Stock savings bank
0 Mutual savings bank
Minnesota
O Private bank
•
1. Name of ban
2. Date organized
Farmers State Bank
7-1-03
3. Federal reserve district
Date suspended
.
Town or City St Bonifaciueounty Hennepin
7-31-23
7
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
*Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
350
7-31-23
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$ 84,324.65
Total loans and discounts
5,815.61
Real estate acquired in satisfaction of debts
Investments
•••••••••••••••••
11,307.36
All other resources
/
- 7
re
$ae-1 -444- vaio3$4 48
Total resources
$20,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
)$
Due to banks**
Demand deposits, including U. S. Govt. deposits
19,929.12
Time deposits, including postal savings
56,916.36
$ 76,845.48
Total deposits
Borrowings from F. R. bank
IMO. Ma,OR
2,000.00
Borrowings from other banks
Wm.
All other liabilities
8
$78,845.40/03,8414
Total liabilities
7. Has this bank been reopened?
Date of reopening
y AS
If so give:
10-16-23
Name under which reopened
Loss to depositors on:
411110
the sane
Amount of loss
Per cent of loss
to claims
Secured claims
None
...1.1 0,•••••1111.
.
Preferred claims
None
.
411•1••••••=.•1111
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims. .
General claims. .. .
Total claims. . .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims. . ..
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Frozen a se.P't
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
41
,
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
771„,
No
If so, give dates and amounts of all assessments
•
#937
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties.
This
form should not be used for merged or consolidated banks but should be used for those banks
suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out
for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
10 State bank
O
Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Farmers State Bank
2. Date organized
-2111
3. Federal reserve district
Date suspended__
9
Town or City
_St,__ClOUd____County
2-1.5-24 Population of town or city* 23,000
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Stearns
Name_
6. Condition figures, as of (date*)
2-15-24
Loans and discounts:
On real estate
Other
$ 600,337.25
Total loans and discounts
Real estate acquired in satisfaction of debts
10,826.97
Investments
14,989.39
All other resources
807.72
39,
$665,961.33
Total resources
$50;
000.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$179,187.02
316,908.48
$
Total deposits
496,095.50
Borrowings from F. R. bank
109,865.83 •
Borrowings from other banks
All other liabilities
$665,961.33
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to clainis
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
efff2fTTE
Total payments
Per cent of payments
to claims allowed
& advance
Secured claims. .
____
MIMPIIIM".•
MMON•allOr
Preferred claims.
1,11 910.82
General claims.
57 2425.40
. 155---s•
.
45,742.54
___
$11,910.82
Gen Cl—B.P.
• I A
Total claims
=NO!
11,910.82
100%
_—_
45,742.54
10%
33: 0 89,133.80 - - 101
- - $
..
.
'LI ,
...•
. :
..
26.3
is
0 •
•
G
:CT)
10. Has this bank been finally liquidated?
Date liquidation was completed
(7,
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Secured claims
Preferred claims
General claims
Total claims. ...
Claims short 27K, represented by offsets
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
411
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
NO
Statutory assessment
If so, give dates and amounts of all assessments
450,000-
Assessment ordered 8-7-26
•
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
ri
National bank
4rt
Name of State
DO State bank
•
• Trust company
o
o
o
Stock savings bank
Mutual savings bank
1,11innesota.
Private bank
•
1. Name of bank Farmers State Bank
2. Date organized
8-2-15
3. Federal reserve district
Date suspended
7
Town or City
8-29-27
St ,Hilaire County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
PenninRton
500
6. Condition figures, as of (date*)
5-29-27
Loans and discounts:
On real estate
Other
$ 68,304.14
Total loans and discounts
10,400.00
Real estate acquired in satisfaction of debts
12,477.14
Investments
1 a vl.r. 4#
(12,u50.98
All other resources
$a-es,232.2Cflaya7.if
Total resources
$12,000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)$
26,237.49
)
57,224.26
$ 83,461.75
Total deposits
••••=...10.110
Borrowings from F. R. bank
7,046.00
Borrowings from other banks
AIM NM.
All other liabilities
6/64,507.75
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
Total payments
Per cent of payments
to claims allowed
i
ntAl
e
—
Crt
& advance
Secured claims. ...
Preferred claims..
General claims. .
Cl-Bul
Total claims. . .
10 053.63
'
$10,053.63
0-
$10,053.63
100%
333.68
333.68
or
333.68
100%
72 699.68
1
"rilai
irimAl ".
43 623.79
Lr-
1 7046401
43)
623.79
-046.4-00
60%
—1430fr--
I1
sitII I PIIIII-
garWalalar:A111[11W.
\\ i
10. Has this bank been finally liquidated?
Date liquidation was completed
ro
(,...r, -
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
1, cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Lack of reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture)
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $12,000* Assessment ordered. 13-22-27
•
#1378
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
7
Name of State
Pt State bank
49
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
Farmers State Bank
Town or City
St.Joseph
2. Date organizecL
9-14-17
1-28-25
Population of town or city*
_ Date suspended
3. Federal reserve district
County
/1ember or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Stearns
823
6. Condition figures, as of (date*)
1-28-25
Loans and discounts:
On real estate
Other
$
Total loans and discounts
130,511.38
Real estate acquired in satisfaction of debts
2,997.84
Investments
10,026.29
All other resources
$143,
535.51
Total resources
$20,000.00
Capital
1,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$28,689.06
77,560.70
$
Total deposits
106,249.76
Borrowings from F. R. bank
Borrowings from other banks
6,500.00
All other liabilities
•
yr7,07
7
cci
,
(
$11-3 ,71.9-r-7-6/43 3
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
Yes
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
111113eftftril
Per cent of payments
to claims allowed
Total payments
collateral
-&—larilrearaer—
Secured claims. . .
$4,581.6
Preferred claims
General claims. .
1—Bills Pay.
$4,581.61
$4,581.61
103,407.8: 72,395.52
6,500.01
Total claims. . „
.•
500.00
100%
72,395.5
6 p 500.0
70%
100%
c" y
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims. .
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
504 - $10 000 - Paid 6-26-24
,
$4,040 Paid -1-22-25
Statutory assessment 420,000; Assessment ordered 10-30-25
•
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
M
Name of State
State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minne sota
O Private bank
•
1. Name of bank St. Martin Stat e Bank
2. Date organized
8-4-14
Date suspended
Town or City
11-26-23
3. Federal reserve district
St. Martin county Stearns
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
175
11-26-23
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other.
163,934.78
Total loans and discounts
Real estate acquired in satisfaction of debts
•••• aim an.=MD
3,583.23
Investments
23,097.75
All other resources
$190,615.76
Total resources
$10,000.00
Capital
1,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
$15,327.08
Time deposits, including postal savings
164,258.10
$ 179,585.18
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
-.361-(8
All other liabilities
$1491-545.18/44/1776
Total liabilities
7. Has this bank been reopened)
Yes
Date of reopening
9-22-24
Name under which reopened
Loss to depositors on:
If so give:
the same
Amount of loss
Secured claims
None
Preferred claims
None
General claims
Per cent of loss
to claims
•••• WINO •••••1•111
,
.1111.4.11.0.•••••••
65%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. ...
Preferred claims. ..
General claims. . . .
Total claims. .. .
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
_
Secured claims
Preferred claims
General claims. .. .
Total claims. .. .
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
- lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Montana investments
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended'
No
If so, give dates and amounts of all assessments
•
#1524
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El
National bank
EJ
State bank
E]
Trust company
o
Stock savings bank
Name of State
79
.
Minnesota
O Mutual savings bank
o
Private bank
1. Name of bank Broadway State Bank
2. Date organized
5-21-23
Date suspended
3. Federal reserve district
Town or City
.
St Paul
County
4-14-26 Population of town or city* 250,100
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Ramsey
6. Condition figures, as of (date*)
4-14-26
Loans and discounts:
On real estate
Other
$ 187,534.29
Total loans and discounts
2,550.00
Real estate acquired in satisfaction of debts
11 436.22
Investments
31,'t7 4
:97
All other resources
(
-1 38,43 p.71/
2 7 -1-r48 ,
-34 74
Total resources
$25,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
)
„;127,969.51
56,617.21
Time deposits, including postal savings
$ 184,586.72
Total deposits
•••• WM.•••••"Mgr
Borrowings from F. R. bank
23,850.00
Borrowings from other banks
Nan. 0111•...••••••
All other liabilities
28,436.72
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
41
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation'
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. ...
Preferred claims. ..
General claims. . . .
Total claims. ...
10. Has this bank been finally liquidated?
Date liquidation was completed
YeS If so give:
9-19-30
Collections:
$
From liquidation of assets
11,133.30
From assessments on shareholders
Other collections (explain)
108,571.72
Claim & Int on
daily bal
1,889.48
$121,594.50
Total collections
$ 31,264.83
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
3.10,022.50
$10,022.50
1,878.75
74,560.58
Secured claims
Preferred claims
1 Ci-119----Pa -23-85-$4$
: _ r.L.4
Total claims • ".:—•
-11:
I 6 -)3/f, 73
sam
1
'maw
Ci
e.
--4a3,850.00.
—71;t:brio ,,
Total payments
Per cent of payments
to claims allowed
$10,022.50
100%
1,878.75
Collg ' ';''
"
il
a'
& advance
1,878.75
General claims... i 42,833.48
Payments from
100%
74,560.58
24850.00-- 10$°.
i i i).,,..:? /.9„.. ,
)
Uoi l-ilp1.9)3
5‘)..
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
assets & depleted reserv
Other causes, (specify) Frozen
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $25,000; Assessment ordered 9-3-26
•
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
LI State bank
El Trust company (With Banking Powers)
LI Stock savings bank
0 Mutual savings bank
D Private bank
MINNESOTA
•
1. Name of bank Capital Trust & Savings Bank Town or City
2. Date organized
1890
3. Federal reserve district
Date suspended
5 3-24
-
9th
4. Number of branches operated: In city of parent bank
St. Paul
County
Population of town or city* 271h606
Nonmember
Member or nonmember of F. R. System
None
Outside city of parent bank** _None
5. Was this bank a member of a chain or group? If so give the name of the chain or group
close
filiated with Capital National Bank, St.Paul*
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Ramsey
Jo
6. Condition figures, as of (date*)
May 3, 1924_
Loans and discounts:
$ 3,818,535.16
On real estate
526 672.13
Other
$
Total loans and discounts
4,345,207.29
Real estate acquired in satisfaction of debts
365,754.29
Investments
470,363.56
All other resources
682,620.54
Total resources
Capital
500,000.0O__
Surplus and undivided profits
122,549,84
Deposits:
0
Due to banks**
648.213.09
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$
Total deposits
4,713,207.91
Borrowings from F. R. bank
None
Borrowings from other banks
None
All other liabilities
521.187.93
I•
Total liabilities
5,863,945,68
ki
)
7. Has this bank been reopened?
No
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
,r!
8. Has this bank been taken over by another bank?
No
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yee
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Preferred claims. ..
Total payments
,
0
Secured claims
Payments from
guaranty fund
89,194.34
_89,1'i
General claims.. .. 4,874920 '9 3,505„440.A3
4 763
Total clairns.. .. _ ,
No
100
Sy505s 4404 88_
,
,
4f."
J
10. Has this bank been finally liquidated?
Per cent of payments
to claims allowed
.
76
3-C- 1,j. c"
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture'
Yea
If so, state what industry or type of agriculture
Grain
rmin
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
1920 —1921
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yee
If so, give dates and amounts of all assessments
_Stockholders liability of 100%_was levied after closing and ordered paid
October 1,1924.
alk
#1431
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
E] National bank
Name of State
E State bank
El
Trust company
• Stock savings bank
O
Mutual savings bank
Minne sota
O Private bank
•
1. Name of bank
2. Date organized
Foshay State Bank
3-21-19
3. Federal reserve district
Date suspended
9
.
St Paul
Town or City
County Ramsey
11-1-29 Population of town or city* 250,100
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank__
Outside city of parent bank**
•
••••4WD
—
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
None
6. Condition figures, as of (date*)
11-1-29
Loans and discounts:
On real estate
Other
160,937.92
$
Total loans and discounts
Real estate acquired in satisfaction of debts
••••••••
r)- .
4
Investments
86,561.50
22,492.43
All other resources
$269,991.85
Total resources
$40,
000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$161,284.46
62,099.23
Time deposits, including postal savings
$
Total deposits
---
Borrowings from F. R. bank
1,795.11
Borrowings from other banks
813.05
All other liabilities
$269,991.85 .e
Total liabilities
7. Has this bank been reopened?
223,383.69
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
$39,245.8
$39,245.86
_...—
$39,245.86
100%
, .
255368
.
22,449 39
---
22,449.39
87.9%
General claims. . .. 135,484.6
96 t 118.23
—....—
96 I 118.23
65%
200,267.2
157,813.48
___
157,813.48
78.8%
Secured claims..
Preferred claims -
Total claims
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Secured claims
Preferred claims
General claims
Total claims. . .
23M short on claims
$20,759.10 offset
1,895.87 unclaimed deposits
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
X
Failure of affiliated institution (Name)
Name of correspondent (Name)
.41S.
.Co,.
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
100%
Yes
- S40 000 - 7-20-26
If so, give dates and amounts of all assessments
Paid 6-27-27
Statutory liability $40,000.
Assessment ordered 1-17-30
•
#1250
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
Utj State bank
O Trust company
O Stock savings bank
El
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank Great Nor State Bank
2. Date organized
5-6-16
3. Federal reserve district
Town or City St•Paul
Date suspendect_12-29-26
7
County—RaT8eY
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
250,100
6. Condition figures, as of (date*)
12-29-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
421,645.43
16,219.41
Real estate acquired in satisfaction of debts
124,645.43
Investments
52,390.70
All other resources
$614,900.97
Total resources
$45,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
195,520.51
. 346,064.41
$ 541,584.92
Total deposits
•••••••• UM/•=1
,
Borrowings from F. R. bank
15,000.00
Borrowings from other banks
Pg4.0c
All other liabilities
$556 - - 4-1 9e-36
8 4/4 /00•/7
)
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
Yes
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
22,948.3
Secured claims
Preferred claims...
(;"
22,948.36
.
352 7
7)
Payments from
Dmtx/flout
ct trateral
Ai
7,352.73
o
e;
General claims.... 472,820.8
a 01---Bi11s --P
283,727.68
•
;
- ---15 p 000 0i --.----Q-: - ----
Total claims.. !, : . ' ? k` - I
_ _
4
10. Has this bank been finally liquidated?
AIN
---
$15 ..000- 00..
:
Total payments
Per cent of payments
to claims allowed
$22 948.3
)
100%
7,352.7
100%
60%
283,727.68
1 - -0007.0 ----- 55
10012
-.
-7 , :6Z
7)., — . - PT1
5
0 P ,-----.g'
-----
,
3
1
. 7
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, -(specify)
Frozen assets
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
Yes
$37 500 - 10-6-24
If so, give dates and amounts of all assessments
31,75
Statutory_Assessiaent $45,000
Pd 7-28-25
Date ordered
5_31_27
#1207
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
Drj State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bankProduce Exchange Bank
2. Date organize
Town or City
County Ramsey
Population of town or city* 250,100
Date suspended
3. Federal reserve district
St.Paul
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
6. Condition figures, as of (date*) 12-13-27
Loans and discounts:
On real estate
Other
$ 140,993.93
Total loans and discounts
7,870.00
Real estate acquired in satisfaction of debts
100,701.50
Investments
41,387.09
All other resources
$290,952.52
Total resources
,25,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
)
$125,642.11
135,201.00
Time deposits, including postal savings
0260,843.11
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
•
—47,41/
All other liabilities
orse7.843.11
Total liabilities
7-947,
Yes
7. Has this bank been reopened?
Date of reopening
5-7-28
Name under which reopened
Loss to depositors on:
If so give:
the same
Amount of loss
Per cent of loss
to claims
None
AWN
,
Secured claims
None
ma.••••
Preferred claims
General claims
None
NNW ••••••••
•=11.
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims..
General claims. ...
Total claims.
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims.
General claims
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
40
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
‘,-)
S
.'
No
2
If so, give dates and amounts of all assessments
.
•
047
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
ex:8
0 National bank
Name of State
gJ State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
1. Name of bank Ra.msey County State BankTown or City
2. Date organized
4-1-09
3. Federal reserve district
Date suspended
7
3-23-26
St Paul
.
County Rams ey
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
250,100
6. Condition figures, as of (date*)
3-23-26
Loans and discounts:
On real estate
Other
$ 697,932.65
Total loans and discounts
/ 143,665.34
Real estate acquired in satisfaction of debts
S
Investments
.
336,854.70
217,526.69
All other resources
$1 395,979.38
Total resources
$80 000.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
$390,503.71
901,925.53
1,292,429.24
Total deposits
a•M•••••••••IIII.
Borrowings from F. R. bank
Borrowings from other banks
/31f‘, -7
14
All other liabilities
$1-5-44.2-;429-rF4
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Secured claims. . .
Dividends paid from
collections
18,038.53 $18,038.53
Total payments
Per cent of payments
to claims allowed
$18,038.53
100%
19,252.75
L,
19,252.75
100%
I. 66 946,172.91
.3,
924.172.91
-1490
,
9X1,;161/.
.7
4
72
Preferred claims. . 19,252.75
General claims.1
Payments from
guaranty fund
'
Total claim$1 ' • "
:q
S 11
i
10. Has this bank been finally liquidated?
Date liquidation was completed
if,
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured
claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
*
Other causes, (specify)
Depleted re serve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
100% - $80,000 (Vol) 3-6-24
-
Statutory assessment $8_0,000*
Paid 6-6-24
Z " Z Z 4 ". 8
•
-
•
#540
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
Gc] State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of ban1Far &
2. Date organized
Mer State Bank
1-16-05
Date suspended
3. Federal reserve district
Town or City St VinCent
County
12-19-23 Population of town or city*
1\lember or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
,-------
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Kitteon
350
6. Condition figures, as of (date*)
12-19-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
133,977.58
Real estate acquired in satisfaction of debts
9,250.00
Investments
5,
528.59
All other resources
$148,756.17
Total resources
$15,000.00
Capital
7,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
34,791.26
Time deposits, including postal savings
72,172.50
$ 106,963.76
Total deposits
Borrowings from F. R. bank
19,200.00
Borrowings from other banks
—4-1/ 11/
All other liabilities
,1&378/481( ,
4. 7
Total liabilities
7. Has this bank been reopened?
0
If so give:
Date of reopening
Name under which reopened_
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
ATTIOngri
Per cent of payments
to claims allowed
& advanoe
, •
Secured claims. ...
694.28
$7,
General claims...99 000.82
:1—Bills Pay -maanillIPIWA
Total claims. . IYA•imilAtialliff•
.44.
7
$,694.28
19,773.63
Preferred claims..
Total payments
..!. ,r4m;apia;
7,694.28
100%
19,773.63
a
°
20%
'
10. Has this bank been finally liquidated?
Date liquidation was completed
.
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims. .. .
Preferred claims. ..
General claims. . ..
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).. . Deplete.d. reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or typo of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $15,000, Assessment ordered August 27,'25
111
# 3
6 0
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
3
58
Name of State
State bank
El Trust company
0 Stock savings bank
1:1
Mutual savings bank
Minnesota
0 Private bank
1. Name of bank
2. Date organized
State Bank of Sa rgeant Town or City
814-06
Date suspended
3. Federal reserve district
2
-Lr_2_6
Sar E.Esilt
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Mower
79
12-21-26
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
Total loans and discounts
$
69,599.27
4,403.68
Real estate acquired in satisfaction of debts
ems •••• MOM
Investments
// q/4
1.10Li
(6,763.60
All other resources
ei97-746-13.&iy,b.4.17
Total resources
10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
)6
)
$24,309.61
29,539.18
Time deposits, including postal savings
$
Total deposits
53,848.79
=MD alM
Borrowings from F. R. bank
16,837.40
Borrowings from other banks
All other liabilities
b.19
Total liabilities
7. Has this bank been reopened?
Date of reopening
If so give:
10-31-27
Name under which reopened
Loss to depositors on:
Yes
the same
Amount of loss
Secured claims
None
Preferred claims
Per cent of loss
to claims
None
General claims
70%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims. ..
General claims. . ..
Total claims. . .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims.
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted.reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
#1170
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
E State bank
0 Trust company
El
Stock savings bank
O
Mutual savings bank
o
Private bank
Minnesota
•
1. Name of bank
2. Date organized
Sauk Rapids State Bank Town or City
58-15
Date suspended
3. Federal reserve district
county Benton
Sauk Rapide
10-4-28 Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
3,000
6. Condition figures, as of (date*)
10-4-28
Loans and discounts:
On real estate
Other
$ 323,221.49
Total loans and discounts
Real estate acquired in satisfaction of debts
65,
086.31
Investments
74,946.32
All other resources
22.,415f3f:.16'47
$486,834.7Gq-Y///
01°3
Total resources
425,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
123,787.07
Time deposits, including postal savings
312,627.43
$ 436,414.50
Total deposits
Borrowings from F. R. bank
25,000.00
Borrowings from other banks
1,375.53
All other liabilities
$412,790.03
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened__
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
xmadattgata
collateral
Total payments
Per cent of payments
to claims allowed
Secured claims... . $24,754.43 $19,640.38
u-
$19,640.38
79%
9,173.42
r"
9,173.42
100%
r
97,976.82
97,976.82
tr
$25,000.00 25,000.00
, , ,, ,'
_*), t-, '1 q _1 ,
i i; i .7 -1 i-.
100%
Preferred claims. . .
9,173.42
391,384.16
en 01—Bills P. 25,000.00
.
Total claims. . .. $450,-312 01
General claims.. .
HDt
(\
1i;5, 3\ (,()'.
10. Has this bank been finally liquidated?
Date liquidation was completed
25%
33.1
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims.. . .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
0
1
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $25,000, Assessment ordered 2-7-29
•
#1324
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
LI National bank
Name of State
a State bank
LI Trust company
Ei Stock savings bank
O Mutual savings bank
o Private bank
Minzieso.ta
•
1. Name of bank___._S_earle_s_.atate_Elank____ Town or City
2. Date organized
1—16-17
3. Federal reserve district
Date suspended_
9-6-24
Searles
County
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank_
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group___‘------
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Browni
125
9-6-24
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
$ 145,756.85
Total loans and discounts
1,750.00
Real estate acquired in satisfaction of debts
Investments
21,8tt 10
.
All other resources
$1.99 5-8652-1451// 4 /3
7
11 4
Total resources
$10,000.00
Capital
3,500.00
Surplus and undivided profits
Deposits:
Due to banks**
) $
Demand deposits, including U. S. Govt. deposits
$24,230.22
Time deposits, including postal savings
133,536.91
$ 157,767.13
Total deposits
Borrowings from F. R. bank
•••••
Borrowings from other banks
••••••••6•••
All other liabilities
y.13
Total liabilities
7. Has this bank been reopened?
Date of reopening
Name under which reopened
Loss to depositors on:
Yes
If so give:
12-8-24
the same
Amount of loss
Secured claims
None
Preferred claims
Per cent of loss
to claims
None
General claims
40
,
OM 4.0
25%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
S. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
_
Secured claims. ...
Preferred claims. . .
General claims
Total claims
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
_
Secured
claims
Preferred claims
General claims
Total claims
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
, lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
III
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
•
#1302
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once g. schedule should be made out for each
suspension.
• Type of bank reported—check
appropriate one of the following
LI National bank
E
Name of State
State bank
Trust company
LI Stock savings bank
El
Mutual savings bank
o
Private bank
Minnesota
1. Name of bank
Farmers State Bank
Town or City
2. Date organized
11-9-16
12-4-23 Population of town or city*
Date suspended__
3. Federal reserve district
Sebeka
County Wadena
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group ? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
700
6. Condition figures, as of (date*)
12-4-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
143,579.17
Real estate acquired in satisfaction of debts
Investments
/11
0:ti ' °
"5
.
1
8
All other resources
$157,02777Z/LW741'
'
Total resources
$10,000.00
Capital
6,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$31,587.78
Demand deposits, including U. S. Govt. deposits
67,757.07
Time deposits, including postal savings
$
Total deposits
99,344.85
Borrowings from F. R. bank
All other liabilities
',44205.07
1/
Borrowings from other banks
50t208.03
Rediscounts/
$4C757.95
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened_
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
Yes
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
--
Secured claims. . . .
amammtnat
collateral
——
$4,229.09
Preferred claims... $4,229.09
Payments from
_~
9
412.7 i
General claims. ... 95,
Gen C1-Bills Pay &
Total payments
—
$4,229.
OM Mir IMO
0*r..1011-1
"
Redis
Total claims. . . 154,054.9
*4,229.09 $54,41 3.10 '.
•
.
10. Has this bank been finally liquidated?
Date liquidation was completed
Per cent of payments
to claims allowed
-i 413;10
54 = S'
100%
•MOII.I.
If so give:
'38%
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
•
Claims allowed
Secured claims
Preferred claims
General claims. . ..
Total claims. ...
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted reserve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 2-9-25
•
+440
FEDERAL RESERVE COMMITTEE ON
BRANCII, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O National bank
Name of State
fjf State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
2. Date organized
First State Bank
8-31-03
Date suspended
3. Federal reserve district
Town or City
6-9-30
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Seb eka
..----
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Wadena
700
6. Condition figures, as of (date*)
6-9-30
Loans and discounts:
On real estate
Other
$ 117,614.73
Total loans and discounts
29,226.56
Real estate acquired in satisfaction of debts
?)() 11,750.00
Investments
All other resources
9,513.82
188,105.11
Total resources
$10,000.00
Capital
Surplus and undivided profits
Deposits:
Due to banks**
)6
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
71,362.09
60,740.17
$
Total deposits
132,102.26 ,
Borrowings from F. R. bank
15,341.00
Borrowings from other banks
119
;
'
, H7G- V4 644 3
9,19,36
All other liabilities
156,
.e2
7/
/48
1/o4 1
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
--
20,953.8
$62 836.97
202853.87
...9_ _..
1
14 a
$6,836.9
Secured claims
Preferred claims
,General claims.. .
Jen ul—b.lcay
Total claims. .
.
r. . ,-4-
—
14.541:04Fer : ,.PtiPt
i
$6,836.97
20)
853.87
.:0
lip$064.g.
1
V) C.
10. Has this bank been finally liquidated?
•
100%
`tb—Z5, IttITM -
6-4 -its'.
/.O. 303. -ii
100%
,4tst-
1
10
---wr771
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
•t
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Lack of reserve
Poor paper
X
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
20090 (Vol) $20,000 - 8-31-25
200ro $20,000 - 11-17-26 100% $10,000 - 10-22-27
100% '10,000 - 3-31-28
Paid 2-25-27
Pal a. 2-25-27
Paid 1-23-28
Canceled 4-26-28
200, 420,000 - 9-22=28
7
0
Paid 1-23-29
Statutory assessment $10,000, Assessment ordered 9-3-30
•
5
461
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El National bank
11 State bank
Name of State
El Trust company
O Stock savings bank
o
o
Mutual savings bank
Minnesota
Private bank
•
1. Name of bank
2. Date organized
Security State Bank
11-14-05
Town or City
Date suspendecLA-20-22
3. Federal reserve district
Shakopee
County_SCDt
Population of town or city* 2,200
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
6. Condition figures, as of (date*)
4-20-22
Loans and discounts:
On real estate
Other
$ 161,046.71
Total loans and discounts
None
Real estate acquired in satisfaction of debts
6,521.94
Investments
22,453.56
All other resources
$190,022.21
Total resources
$25,000.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$21,139.40
Time deposits, including postal savings
132,971.11
$ 154,110.51
Total deposits
None
Borrowings from F. R. bank
None
47/1.lo
•ig one
Borrowings from other banks
All other liabilities
-110.FrI
Total liabilities
7. Has this bank been reopened?
go,o1/1-•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
222.8
73,125.69
Secured claims. . . . 67,125.3
Preferred claims. .
Total payments
i
100%
100%
73,125.69
50%
,_, *I-. ;
97&/--
Total claims. . 1; 153,599•5
10. Has this bank been finally liquidated?
Date liquidation was completed
Per cent of payments
to claims allowed
$7,125.32
222.87
$7,125.32
222.87
General claims... 146,251.4
Payments from
guaranty fund
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
_
Preferred claims
General claims
Total claims
_____
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
gailure of We194 &
. was .
panic
Failure of affiliated institution (Name).vt
X
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Outside investments
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
___5*F524FIVe*=t2tgl.
Statutory assessment $252000, Assessment ordered (1 2
;4 25
•
#1192
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
[XI State bank
O Trust company
O Stock savings bank
1:1 Mutual savings bank
o
ktinne so ta
Private bank
•
1. Name of bank
Farmers State Bank
Town or City SimpsonCounty Olmsted.
2. Date organized
-8215
11-20-23 Population of town or city*
Date suspended
3. Federal reserve district
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group ? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
150
6. Condition figures, as of (date*)
11-20-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
70,758.75
---
Real estate acquired in satisfaction of debts
Investments
frev..Z?
All other resources
• jg93
Total resources
7.IS'
1
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
$10,999.97
Demand deposits, including U. S. Govt. deposits
33,959.91
Time deposits, including postal savings
$ 44,959.88
Total deposits
/
Borrowings from F. R. bank
16,500.00
..
Borrowings from other banks
(P;,44;t_ 6k1?>,
All other liabilities
7. Has this bank been reopened?
1033800
$93,797.88
Total liabilities
•
%
/'
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. ..
General claims. . ..
Total claims. . ..
10. Has this bank been finally liquidated?
Date liquidation was completed
YeS
If so give:
5-12,8
Collections:
$26,934.49
From liquidation of assets
7,274.13
From assessments on shareholders
637.01
Other collections (explain)
$34,845.63
Total collections
Offsets to claim (loans paid, etc.)
$
2,201.66
Payments to depositors:
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Total payments
jt terd
& advance
, .
Secured claims
Preferred clai s
..
General claims. .. . $41,720.5
Cl-Bills Pay
Payments from
.
t32 2 397.07
'1 6-Tra.(30:41)0
-
,,
.
$1.65-5e0--190
Total claims. . • • _S_...37t2;f=j!r_
.<5•efr.
--
6 r --5
1
- --- —FT-- -e r:
Per cent of payments
to claims allowed
_
,,..___
r----
.32 397.07
-13-75•00--M
-1
,
1 C. %3 ?r,
'
-4• 31,----- - -- 5-q. 11—g•
3Q;bc)1
0
c"(
e4 L
i
. e- --0 10— T
17-
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry •
or agriculture'
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000, Assessment ordered 4-23-25
•
#212
FEDERAL RESERVE COMMITTEE ON
BRANCIL GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
• National bank
pg
o
o
o
o
Name of State
State bank
Trust company
Stock savings bank
Mutual savings bank
Minnesota
Private bank
•
1. Name of bank Citizens State Bank
2. Date organized
6-2-1894
Town or City
Date suspended 4-22-26
3. Federal reserve district
Sla yton
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Murray
1,200
6. Condition figures, as of (date*)
4-22-26
Loans and discounts:
On real estate
Other
$ 236,003.14
Total loans and discounts
Real estate acquired in satisfaction of debts
56,568.17
Investments
12 893.54
All other resources
1
44 .56
,C4-4-g-4-133Vl/A.1—/C
Total resources
$40,000.00
Capital
4,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
$67,715.76
Time deposits, including postal savings
185,978.13
$ 253,693.89
Total deposits
AMMO , MM....110
I
Borrowings from F. R. bank
30,000.00
Borrowings from other banks
4469.07
All other liabilities
$334<262.96
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
Total payments
Per cent of payments
to claims allowed
rrilt
Al anni
& a vance
Secured claims. . .
Preferred claims..
83,427.28
244,181.0S
$3,427.28
49,084.64
Ge
Total claims. .
04
279,611.44. 1, ',.', I;
I ',17,
$3,427.28
100%
49 084.64
9—
'
$32 003.07 , 32 003:07
..!
. 9 #45, •c,t1' 5- i .",
20%
— 100f
0
6-
_____
If so give:
10. Has this bank been finally liquidated?
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).
a.Q &ç Sec
depleted reserv
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
-Yee
bank suspended?
If so, give dates and amounts of all assessments
100c/0 - $40 000 - 10-2524
$15,080 Paid towards Holding Co. 7-15-25
Statutory assessment $4o1 0091 Assessment ordered 6-1-27
•
#140
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
Suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
xi State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
kinne.sota
O Private bank
•
1. Name of bank State Bank of Sleepy EyeTown or City Sleepy Eye
2. Date organized
County
4-101891 Date suspended_ 10
-19-26 Population of town or city*
3. Federal reserve district
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Brown
2750
6. Condition figures, as of (date*)
10-19-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
491 487.39
39,606.89
Real estate acquired in satisfaction of debts
s
Investments
8,785.46
3 Zgt
0c
2.;3
All other resources
ee74 6
0 -S4' 9/"I'ig
14
it5 7
Total resources
$50,000.00
Capital
10,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
$79,380.46
Time deposits, including postal savings
373,329.32
$ 452,709.78
Total deposits
Borrowings from F. R. bank
48,000,00
Borrowings from other banks
8,300.00
All other liabilities
$549,009.78
Total liabilities
7. Has this bank been reopened?
Date of reopening
Yes
If so give:
9-1-27
Name under which reopened
Loss to depositors on:
the same
Amount of loss
Secured claims
None
Preferred claims
Per cent of loss
to claims
None
General claims
••••
•
40%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. ...
Preferred claims. . .
General claims. . ..
Total claims. .. .
10. Has this bank been finally liquidated
'Date liquidation was completed
If so give:
'Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify). .D.eple.terl. reserve
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
100% $50,000 - 7-15-25
If so, give dates and amounts of all assessments
Letter 10-15-25
•
#1255
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CIIAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
Name of State
[X] State bank
O Trust company
El Stock savings bank
El
Mutual savings bank
o
Private bank
Minnesota
•
1. Name of bank
Solway State Bank
2. Date organized
5-11-16
Date suspended
3. Federal reserve district
Town or City
Solway
County
5=21.24____Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
4.-----
Outside city of parent bank**
•
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Beltram i
200
6. Condition figures, as of (date*)
5-21-24
Loans and discounts:
On real estate
Other
$
Total loans and discounts
60,964.69
8,130.36
Real estate acquired in satisfaction of debts
150.00
44734,
(7,052.52
Investments
All other resources
SiLe—-&&7 -E
, = .714-(41-14
Total resources
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$30,480.95
25,324.98
Time deposits, including postal savings
$ 55,805.93
Total deposits
Borrowings from F. R. bank
•••••••••••••••
10,757.03
Borrowings from other banks
All other liabilities
••••••• AMMO NM.
562.96
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
xmmtillimi
collateral
advance
Secured claims. . . .
Preferred claims.. .
3
1_9efffi cit
s imr. ...
$4,406.4°
.- •
$4,406.49
Per cent of payments
to claims allowed
. .
100%
•
•
•
• ...
- •;
Total claims.. . 1.• -
•
$4,406.49
Total payments
.
-
'
,\
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
•
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify).. ....
P.D..4s.e et
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
ilk
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
$1,920 - Paid 8-24-23
Statutory assessment $10,000; Assessment ordered 1-26-25
•
#629
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
18
-
National bank
Name of State
X] State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Narrie of bank Fir St State Bank
2. Date organized
8-13-06
Date suspended
3. Federal reserve district
Town or City_aQiith Haven County Wri
5-16-24 Population of.town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
375
6. Condition figures, as of (date*)
5J5-24
Loans and discounts:
On real estate
Other.
$ 181,830.13
Total loans and discounts
4,787.22
Real estate acquired in satisfaction of debts
Investments
4,114-• I 4.
(11,299.07
All other resources
7,
Total resources
3'
$10,000.00
Capital
2,800.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
$27,999.41
Time deposits, including postal savings
150,891.77
$ 178,891.18
Total deposits
Borrowings from P. R. bank
•••,•••••.ere
10,000.00
Borrowings from other banks
1,000.00
All other liabilities
$2020,691.18
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
YeS
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
2untxrapaftipsti
Total payments
Per cent of payments
I to claims allowed
collateral
•
Secured claims. ...
.
$431.92
$431.92
$431.92
Preferredclaims...100%
General claims. .
Cl-Bills Pay
Total claims. .
78 256.54
71 p 302.61
_= _.166.a. - . at.
71 302.61
1
J:C7'.00-00
•
i.riii•
.1.'41;t::.
10. Has this bank been finally liquidated?
Date liquidation was completed
40.
—
--- •
.
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
_
Secured claims
Preferred claims
General claims. . . .
Total claims
•
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Deplp.ted ..zpArve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; Assessment ordered 8-1-25
•
#472
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CUAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
Ej National bank
Name of State
[3 State bank
LI Trust company
El Stock savings bank
O Mutual savings bank
o
Minne so ta
Private bank
•
1. Name of bank
2. Date organized
Green Lake State Bank Town or City Spicer
4-18-04
Date suspended
4-20-29
3. Federal reserve district
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Kandiyohi
300
4-20-29
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
123,665.89
Total loans and discounts
15,580.78
Real estate acquired in satisfaction of debts
8,700.00
Investments
Lgr:43
(12,180.40
All other resources
$.1.69 14.7
7 ,47./6a
lgv1-7o
Total resources
$10,000.00
Capital
2,300.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
42,039.69
Time deposits, including postal savings
90,284.40
$ 132,324.09
Total deposits
Borrowings from F. R. bank
1,500.00
Borrowings from other banks
14,698.61
All other liabilities
$14E422.70
Total liabilities
7. Has this bank been reopened?
•
Yes
If so give:
Date of reopenini1-15-29
the saTe
Name under which reopened______1_
Loss to depositors on:
Secured claims
Amount of loss
None
AMMO 0..1111•1.
ONO MIND MM.
,
Preferred claims
General claims
Per cent of loss
to claims
0•1•••••.•41•111••
60%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
•
Secured claims. .. .
Preferred claims. ..
General claims. . .
Total claims. .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. .. .
Total claims. . ..
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Losses on poor paper
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
50% - 6'5,000 - 6-22-27
S. E. 12-2-27
50% - $5,000 - 1-26-29
See 3-19-29
/(
0
•
#1150
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
-
National bank
Name of State
a State bank
O Trust company
O
Stock savings bank
O
Mutual savings bank
Minnesota
O Private bank
•
1. Name of bank
2. Date organized
State Bank of Spooner Town or City
1-6-15
Date suspended
5-10-27
3. Federal reserve district
Spooner
i ot' ._
County Lal ocasthe
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
500
6. Condition figures, as of (date*)
5-10-27
Loans and discounts:
On real estate
Other
125,036.31
Total loans and discounts
10,060.86
Real estate acquired in satisfaction of debts
14,601.66
3 1-.
115,230.08
Investments
All other resources
$1€4. .44g_g3.1/48,511.11
7
Total resources
$10,000.00
Capital
5,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
ek.
$44,491.61
87,174.21
$
Total deposits
131,665.82
•••••
Borrowings from F. R. bank
e•
1110
22,235.95
Borrowings from other banks
••••••
All other liabilities
$48,
891.77
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
,
Payments from
f
tilr4 i a,I
0 r.
.
Total payments
Per cent of payments
to claims allowed
-z
$2)
257.48
ci...1. •ms: zi 126 749.5'
9424 9ia
15,
.
Total elaims..
$2,257.4d
100%
I
1,067.8
100%
13 235.18
1,067.8
Preferred claims. .
r
1,067.87
257.4:
Secured claims. . . . $2,
a—
13,235.1
-- -560'7 -3 -$19 7.b.84 — .19 686A0
2 77
5."•
;
152*,310- --8 — — 1- - 9.4-- --- ---tit t 94
11,
- i
VI '1 ,1
I
10%
- -—89
I
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims. . ..
Preferred claims
General claims. . ..
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment 4104
.000' Assessment ordered 9-11-27
•
#1242
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
Name of State
• State bank
O
O
O
O
Trust company
Stock savings bank
Mutual savings bank
Minnesota
Private bank
1. Name of bank Farmers State Bank
2. Date organized
217-16
Date suspended
3. Federal reserve district
Town or City
St een
County
10-1-25 Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
RO
250
6. Condition figures, as of (date*)
10-1-25
Loans and discounts:
On real estate
Other
$ 125,446.00
Total loans and discounts
12,171.67
Real estate acquired in satisfaction of debts
Investments
5,036.48
All other resources
$142,654.15 /
Total resources
$25,000.00
Capital
900.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
$28,169.21
44,969.14
Time deposits, including postal savings
$ 73,138.35
Total deposits
Borrowings from F. R. bank
28 750,00
Borrowings from other banks
So
(14,320.00
All other liabilities
$116,300s 3514vIt1 1(
'4:
Total liabilities
7. Has this bank been reopened?
4110
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims
Preferred claims
General claims
Total claims
•
10. Has this bank been finally liquidated?
Date liquidation was completed
Ye El If so give:
7-15-30
Collections:
50,869.65
From liquidation of assets
9,457.39
From assessments on shareholders
Int on daily bal
Other collections (explain)
692.72
S61,019.76
Total collections
$
Offsets to claim (loans paid, etc.)
1,850.45
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
xmcattrronem
collateral
Total payments
4
Secured claims. .
(
6
Preferred claims . -
4-
4
General claims. .
Ge t Cl-Bills
Per cent of payments
to claims allowed
$147.19
$147.19
73 533.27
21,292.91
-612E470
- -:7- -7)/ -,1 :
P.A tiog -
..o#
tHr.---7
7(0 44 '
,
35 6. S'o,a-
)
0
I
,
V
'
.-1'34 -15:0-
1 '
.
.19 ..);
21,292.9
--4-a-- n-0 --- f•
100%
28.2
10c" 7.
'
0
.5.6.:
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Frozen assets and
depleted reserve
Other causes, (specify)
X
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
If so, give dates and amounts of all assessments
$12,500 Paid 12-22-22
Statutory assessment $25,000; Assessment Ordered 7-19-26
•
#330
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
National bank
Name of State
State bank
O Trust company
O Stock savings bank
O
Mutual savings bank
Mixmo.so.ta
O Private bank
•
1. Name of bank State Bank of Stephen
2. Date organized
7-6-01
Date suspended
Town or City
6-10-25
3. Federal reserve district
Stephen
County
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Marshall
600
6. Condition figures, as of (date*)
6-10-25
Loans and discounts:
On real estate
Other
$ 190,155.11
Total loans and discounts
26,789.79
Real estate acquired in satisfaction of debts
Investments
6,074.00
All other resources
9,956.64
$232,975.54
Total resources
$25,
000.00
Capital
7,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits...... )..
Time deposits, including postal savings
$57,780.82
94,114.59
$ 151,R95.41
Total deposits
Borrowings from F. R. bank
401923.26
13,L77.o3'
4,479.85
Borrowings from other banks
All other liabilities
$443-772Y3,//.C.64
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . ..
Preferred claims. ..
General claims. . ..
Total claims. . ..
10. Has this bank been finally liquidated?
Date liquidation was completed
Yes
If so give:
Jan. 3, 1931
Collections:
From liquidation of assets
$61,805.50
4,136.00
From assessments on shareholders
1nt'on daily bal
Other collections (explain)
357.17
$66,298.67
Total collections
$
Offsets to claim (loans paid, etc.)
13,724.96
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
-----
Secured claims
Preferred claims
$881.36
$881.36
41 584.90
5,369.18
General claims.
1 Oa-Ginn kr, i
. :6745 "
- ----r-----
Per cent of payments
to claims allowed
I ZWAINIIII•
) L 'i - I / ' , '
! • ;
L .
r
,
$881.36
100%
. ..„--5,369.18
3.8%
46i
-2-8,6-T45- -46,-286-45- ‘.------1.009/cr-1
.
g
, , .--'
c4 •f/:- ,ciat.---,,,,, ..t .
4
L___
(e il5 0 i
-
9
l'Ai lf
.
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Frozen aesets and
dep1etea reaerve
X
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture)
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Ye El
100% — $25,000
If so, give dates and amounts of all assessments
Paid 1-13-25
Statutory assessment $25,000, Assessment ordered 10-24-25
•
#1237
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
D
National bank
Name of State
[X State bank
LI Trust company
LI Stock savings bank
O Mutual savings bank
o
inne so ta
Private bank
•
1. Name of bank Farmers State Bank
2. Date organized 1-10-16
Date suspended_
Town or City Storden
12-L-26
3. Federal reserve district
county_Cattomlood
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
325
6. Condition figures, as of (date*)
12-1-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
90,818.65
Real estate acquired in satisfaction of debts
7,191.04
Investments
4,000.00
I 1?_420.9
'
t °-"a
:
All other resources
7
4.347-se (8,0a
,
Total resources
$15,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
$16,653.55
57,117.15
Time deposits, including postal savings
$ 73,770.70
Total deposits
Borrowings from F. R. bank
20,473.29
Borrowings from other banks
6,207.59
All other liabilities
$14451.58
Total liabilities
7. Has this bank been reopened?
•
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
Ye
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Secured claims....
Dividends paid from
collections
Payments from
cgrtnri
& advance
_._,-,--
$3,766.09
100%
2,756.78
LOS
$3,766.09
$3,766.0°
Per cent of payments
to claims allowed
Total payments
_
Preferred claims. ..
General claims....
—G1-131-1-1s—Pay
2,756.78
67,474.8:
20,473.2!
Total claims. . . . 1:, • 4
-&--
27,037.04
-_,,,
, -c------.
7. 7
--c;--.
.., .:1
'
A I
m.
$20,473.29
27 1037.04
2g,473.29-
'3 -
l
S t4
40%
,..,..
100%,
.7
. 5- _42,,.
q
II
10. Has this bank been finally liquidated?
Date liquidation was completed
N
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . ..
Total claims. . ..
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Depleted reserve
Other causes, (specify)
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $15,000; Assessment ordered 9-17-27
•
)'°
7
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
El
National bank
Name of State
50 State bank
El Trust company
• Stock savings bank
o
o
Linneapolis
Mutual savings bank
Private bank
1. Name of bank Farmers State Bank
2. Date organized
1-10-16
Date suspended
3. Federal reserve district
Town or City
4-22-22
Storden
County Co_ttonvto_od
Population of town or city*
Member or nonmember of F. R. Syste
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
325
4-22-22
6. Condition figures, as of (date*)
Loans and discounts:
On real estate
Other
292,328.62
Total loans and discounts
Real estate acquired in satisfaction of debts
None
Investments
None
13,674.39
All other resources
$306,003.01
Total resources
$15,000.00
Capital
Surplus and undivided profits
9,000.00
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
)
49,767.79
145,226.58
Time deposits, including postal savings
194,994.37
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
63,443.07
All other liabilities
y3,41-17
$3.50,437.44.301.,003.0/
Total liabilities
7. Has this bank been reopened?
Date of reopening
Name under which reopened
Loss to depositors on:
Yes
If so give:
11-3-23
the same
Amount of loss
Per cent of loss
to claims
Secured claims
None
None
Preferred claims
None
None
General claims
20%
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to clahns
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
_
Secured claims. . . .
Preferred claims. . .
General claims. .. .
Total claims. .. .
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify) Poor overline investments
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or othenvise, on the directors or stockholders either before or after the
bank suspended?
33 1/3% - 1
Yes
0-26
If so, give dates and amounts of all assessments
-
$5,000
3
•
#984
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
[I] National bank
Name of State
ao State bank
3Yr
[11 Trust company
O Stock savings bank
O Mutual savings bank
o
Minnesota
Private bank
•
1. Name of bank
2. Date organized
Far & tiler State Bank
1-17-12
Town or City
Date suspended_ 9-11-23
3. Federal reserve district
Strandquist.,ounty
Marshall
Population of town or city*
150_
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name-and location of each outside branch at time of suspension.
6. Condition figures, as of (date*)
9-11-23
Loans and discounts:
On real estate
Other
$
Total loans and discounts
184,757.71
7,281.00
Real estate acquired in satisfaction of debts
58.65
Investments
12,047.22
All other resources
$204,144.58
Total resources
$20,000.00
Capital
3,000.00
Surplus and undivided profits
Deposits:
Due to banks**
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$30,781.71
72,050.22
$ 102,831.93
Total deposits
•••••••••••1.
Borrowings from F. R. bank
65,475.63
/0 .137.
2,000.00
Borrowings from other banks
All other liabilities
2/1PfL.S8
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
.of
* Condition items should be as of date of suspension, if possible, otherwise as the last call or examination prior to suspension.
**Including certified and cashiers' checks,,cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Claims allowed
•
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. .. .
Preferred claims. ..
--- .r.
3
• General claims. . ..
Total claims. .. .
10. Has this bank been finally liquidated?
Yes
If so give:
8-20-30
Date liquidation was completed
Collections:
$
From liquidation of assets
7,193.30
From assessments on shareholders
.
Other collections (explain).1 nt..
62,708.04
on..d ally..13.al
203.74
$70,105.08
Total collections
$
Offsets to claim (loans paid, etc.)
1;220•14
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
,-----
Secured claims
Preferred claims
$588.08
0588.08
2
2,390.87
Ci-bdil1s Pa5F•_ 65 -4-1-5-.63 -=-.27,----;.-47-1w06t—
51
Oeuoral claims
Total claims. .
Total payments
1014;64
-2.25t7..00
S7-1-1474 — -L."
$588.08
.
,55,715 -.
Per cent of payments
W claims allowed
- t--
100%
1-.
2,390.87_
- e
ir.f..51
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)............Z
. Re pt e
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $20,000. Assessment ordered 9-22--Z5
•
#1376
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
0 National bank
GO
Name of State
State bank
4
▪ Trust company
O Stock savings bank
O Mutual savings bank
o
Minne sota
Private bank
•
1. Name of bank Swift State Bank
2. Date organized
9-4-17
3. Federal reserve district
Date suspended
7
Swift Fin ns
Town or City B en Ann
6-7-26
P.O.County
Population of town or city* 50
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Swift
6. Condition figures, as of (date*)
6-7-26
Loans and discounts:
On real estate
Other
$
Total loans and discounts
63,144.41
2,079.00
Real estate acquired in satisfaction of debts
Investments
8,680.66
All other resources
$73,904.07
Total resources
810,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
g20,683.01
41,113.39
Time deposits, including postal savings
$ 61,796.40
Total deposits
Borrowings from F. R. bank
Borrowings from other banks
/007
All other liabilities
7ac.40
73,q0c4°7
$C-1.
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
Yes
9. Is this bank still in process of liquidation'
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. ...
$27.0
$27.00
—
9
$27.00
100%
General claims. .. .60 y 448.78
12)309.66
0.--
12,309.66
20%
1
1 '3`3 7.
0--
)7, 3 7
Preferred claims. ..
Total claims. . .s.' 60)
475.78
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims
General claims. . . .
Total claims. .. .
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
X
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Statutor
If so, give dates and amounts of all assessments
No
• H"
I
III
-•
• •-
:
•
#1065
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
National bank
2
Name of State
State bank
O Trust company
• Stock savings bank
o
o
Mutual savings bank
Minnesota
Private bank
•
1. Name of bank St
2. Date organized
State Bank
11-11-13
Town or City SIrat h cona County
Date suspended 12-28-25
3. Federal reserve district
Population of town or city*
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Outside city of parent bank**
,-------
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
Roseau
125
6. Condition figures, as of (date*)
12-28-25
Loans and discounts:
On real estate
Other
$
Total loans and discounts
32,806.23
7,537.37
Real estate acquired in satisfaction of debts
Investments
/ v14: /—
( 3,
049
.
All other resources
.43
Total resources
/8
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
$20,839.47
5,004.54
Time deposits, including postal savings
$25,844.01
Total deposits
Borrowings from F. R. bank
7,473.77
Borrowings from other banks
All other liabilities
1111•11....Ow 0MP nom
4K317.78
Total liabilities
7. Has this bank been reopened?
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Per cent of loss
to claims
Amount of loss
Secured claims
Preferred claims
General claims
Total
9. Is this bank still in process of liquidation?
If so give payments to date:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
Payments from
mwmagoitmd
Colla te ra3.
Total payments
Per cent of payments
to claims allowed
Secured claims. . ..
Preferred claims..$8,234.4
$2,816.05
16,208.24
Ggnpral claims
7,473.77
Pay
D1-Bills
Total claims.. . ;I. 31 9 6.41
041,Lrig. L 4
$2,816.05
$7,473.77
7,4733'7
34%
'i0Cqo
a, i- 1 6, 0 5
-
10. Has this bank been finally liquidated?
If so give:
Date liquidation was completed
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims.
General claims. .. .
Total claims
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc.
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Frozen assets and
depleted-reserve
Other causes, (specify)
X
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments
Statutory assessment $10,000; AgseRsmpnt ordered 7-26- 6
9
•
0191
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
1::]
National bank
Name of State
It] State bank
• Trust company
El Stock savings bank
O Mutual savings bank
i,nnegio ta
LJ Private bank
•
1. Name of bank
2. Date organized_
Sturgon_kake St Bk
3-1715
Date suspended
3. Federal reserve district
Town or City Sturgeon Lakeounty Pine
12-9-22
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
•
Population of town or city* 210
,/-
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
6. Condition figures, as of (date*)
12-9-22
Loans and discounts:
On real estate
Other
$ 48,097.19
Total loans and discounts
Real estate acquired in satisfaction of debts
4,659.21
53 5,447.06
v,
14,556.41
Investments
All other resources
$.9i1,1 39
4 -r&i it4131.11.
.
Total resources
$10,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
)
6
Demand deposits, including U. S. Govt. deposits
17,844.96
Time deposits, including postal savings
41,391.58
$
Total deposits
59,236.54
Borrowings from F. R. bank
3,600.00
Borrowings from other banks
ON* 41...•••••
All other liabilities
$*836.54
Total liabilities
7. Has this bank been reopened?
Date of reopening
Secured claims
Preferred claims
If so give:
3-10-23
Name under which reopened
Loss to depositors on:
Yes
the same
Amount of loss
None
ft
Per cent of loss
to claims
None
II
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
•
8. Has this bank been taken over by another bank?
If so give:
Name of bank by which taken over
Date taken over
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
'
Claims allowed
Dividends paid from
collections
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims. ..
General claims. . ..
Total claims. . . .
10. Has this bank been finally liquidated?
Date liquidation was completed
If so give:
Collections:
From liquidation of assets
From assessments on shareholders
Other collections (explain)
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Secured claims
Preferred claims. ..
General claims
Total claims
Dividends paid from
collections
Payments from
guaranty fund
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Depleted..re.se.rve
X
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
•
or agriculture?
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
Yes
70% - 5-13-24 - 471 000
If so, give dates and amounts of all assessments
•
#1271
FEDERAL RESERVE COMMITTEE ON
BRANCH, GROUP AND CHAIN BANKING
BANK SUSPENSIONS SINCE JANUARY 1, 1921
Report on a separate schedule each bank closed to the public either temporarily or permanently
by supervisory authorities or by the bank's board of directors on account of financial difficulties. This
form should not be used for merged or consolidated banks but should be used for those banks suspended on account of financial difficulties, even though they are subsequently taken over by other
institutions. In case a bank has suspended more than once a schedule should be made out for each
suspension.
Type of bank reported—check
appropriate one of the following
O
3'9'5
National bank
Name of State
xI State bank
0 Trust company
O Stock savings bank
O
Mutual savings bank
Minnesota
Ej Private bank
•
1. Name of bank
2. Date organized
Faire State _Bank
7-14-16
3. Federal reserve district
Town or City
Sunrise
County Chi sa o
Date suspendecl____8=2223 Population of town or city*
7
Member or nonmember of F. R. System
4. Number of branches operated: In city of parent bank
Outside city of parent bank**
5. Was this bank a member of a chain or group? If so give the name of the chain or group
* Latest census figures or estimate as shown in bankers' directory.
** Attach a list giving the name and location of each outside branch at time of suspension.
125
6. Condition figures, as of (date*)
8-22-23
Loans and discounts:
On real estate
Other
$44,641.82
Total loans and discounts
521.41
Real estate acquired in satisfaction of debts
1,624.33
Investments
/ 3. 06
4-f
4,757.40
All other resources
$1o'2 SS-O. 10
Total resources
$1o,000.00
Capital
2,000.00
Surplus and undivided profits
Deposits:
Due to banks**
$
Demand deposits, including U. S. Govt. deposits
Time deposits, including postal savings
)
$4,875.52
40,484.58
$
Total deposits
..1...•••••••.•••••
Borrowings from F. R. bank
7,190.00
Borrowings from other banks
All other liabilities
Gam
$H,550.10
Total liabilities
7. Has this bank been reopened?
45,360.10
If so give:
Date of reopening
Name under which reopened
Loss to depositors on:
Amount of loss
Per cent of loss
to claims
Secured claims
Preferred claims
General claims
Total
* Condition items should be as of date of suspension, if possible, otherwise as of the last call or examination prior to suspension.
**Including certified and cashiers' checks, cash letters of credit and travellers' checks outstanding.
-
If so give:
8. Has this bank been taken over by another bank?
Name of bank by which taken over
Date taken over
Per cent of loss
to claims
Loss to depositors on:
Amount of loss
Secured claims
Preferred claims
General claims
Total
If so give payments to date:
9. Is this bank still in process of liquidation?
(Amounts in dollars)
Dividends paid from
collections
Claims allowed
Payments from
guaranty fund
Total payments
Per cent of payments
to claims allowed
Secured claims. . . .
Preferred claims.
General claims.
Total claims
4
10. Has this bank been finally liquidated?
Date liquidation was completed
Ye s
If so give:
10-18-28
Collections:
42,832.61
$
From liquidation of assets
From assessments on shareholders
8,704.87
Other collections (explain)Claim & int on daily bal
5,483.45
$57,020.93
Total collections
Offsets to claim (loans paid, etc.)
Payments to depositors:
(Amounts in dollars)
Claims allowed
Dividends paid from
collections
__-,---
Secured claims
8188.58
Preferred claims.
'1
;
er
G egal_clairlis
Gen_ a-ziiis
& advance
---
....
Per cent of payments
to claims allowed
,,.____,
$188.5:
$188.58
--__ /
100%
„ r---58 89 .1Q_ 44
76.35'
"964.11
•Ou
--f ------ - -.4- .r;"0- .--- ---_th
6 s
:
7
:
7 / ,0--0,...... ---7---,1-9 i ;
:
. ,_
1.,„...44.-- --,,r---66i
-27-C1.68-- Thl - .-(.•=,
-9',
5 0 a•
"
cOTS. eral
Total payments
IA
Pay
Total claims
Payments from
,
COc_
s -•a
-•
0
..4
11. Causes of suspension:
Check in the appropriate column those of the following which apply, either as primary or contributing
causes, amplifying the indicated causes with such supplementary data as may be available.
Primary
cause
Contributing
cause
Decline in real estate values
Losses due to unforeseen agricultural or industrial disasters such as floods,
• drought, boll weevil, etc.
Insufficient diversification
Incompetent management, i.e., poor credit judgment, laxity in collections,
lack of enterprise, etc
Defalcation
X
Heavy withdrawals of deposits
Failure of affiliated institution (Name)
Name of correspondent (Name)
Failure of large debtor (Name)
Other causes, (specify)
Did the slow, doubtful or worthless paper held by the bank represent largely one particular type of industry
or agriculture)
If so, state what industry or type of agriculture
What was the approximate date of the beginning of the difficulty which ultimately caused the suspension?
12. Were there any assessments, voluntary or otherwise, on the directors or stockholders either before or after the
bank suspended?
No
If so, give dates and amounts of all assessments_
Statutory assessment $10,000; Assessment ordered 4-30-25
•
