10793. Citizens National Bank (Crosby, ND)

View Charter #10519 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10519
Charter Number
10519
Start Date
January 1, 1923*
Location
Crosby, North Dakota (48.914, -103.295)

Metadata

Model
gpt-5-mini
Short Digest
9f14ca8779040a4a

Response Measures

None

Receivership Details

Depositor recovery rate
57.1%
Date receivership started
1923-11-21
Date receivership terminated
1927-04-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
9.3%
Share of assets assessed as doubtful
56.4%
Share of assets assessed as worthless
34.3%

Description

Articles (May 1927) report the Citizens' National Bank of Crosby had been closed and liquidated; records burned by the court-appointed receiver J. S. Odland. The bank was described as insolvent and in receivership; closure occurred ~four years before 1927 (circa 1923). No article mentions a depositor run prior to suspension.

Events (5)
1. April 23, 1914 Chartered
Source
historical_nic
2. January 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as insolvent and subsequently closed (liquidation/insolvency led to suspension/closure).
Newspaper Excerpt
the closed Citizens' National bank of Crosby ... which was closed four years ago
Source
newspapers
3. November 21, 1923 Receivership
Source
historical_nic
4. May 8, 1927 Other
Newspaper Excerpt
Two truck loads of records from the institution ... were hauled to the dump grounds ... saturated with kerosene and were burned under the direction of J. S. Odland of Mohall, receiver of the bank.
Source
newspapers
5. May 8, 1927 Receivership
Newspaper Excerpt
Burning of the records, files, books and all other accountings of the bank marked the end of the liquidation of the insolvent Citizens National Bank ... when J. S. Odland, receiver, wound up the details of his receivership pursuant to court order.
Source
newspapers

Newspaper Articles (2)
1. May 13, 1927 Plentywood Herald Plentywood, MT
Article from Plentywood Herald, May 13, 1927

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Article Text

Records of Closed Crosby Bank Burned Crosby, N. D., May 9.-Only ashes remain of the hundreds of records of the closed Citizens' National bank of Crosby, the affairs of which have been completely liquidated and the paid. Two truck loads of records from the institution, which was closed four years ago, were hauled to the dump grounds near here, saturated with kerosene and were burned. under the direction of J. S. Odland of Mohall, receiver of the bank.

2. May 13, 1927 The Producers News Plentywood, MT
Article from The Producers News, May 13, 1927

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Article Text

BURN RECORDS OF INSOLVENT CROSBY BANK * * * * * * Crosby, N. D., May 8.-Burning of the records, files, books and all other accountings of the bank marked the end of the liquidation of the insolvent Citizens) National Bank of this city, when J. S. Odland, received, wound up the details of his receivership pursuant to court order. A big truck load of records were destroyed by fire in this manner. The Citizens National Bank was the oldest banking institution in Divide county.