First National Bank - Grand Forks, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2570
Charter Number: 2570
Start Date: February 4, 1898
Location: Grand Forks, North Dakota (47.925, -97.033)

Metadata

Model: gpt-5-mini
Short Digest: e2847ce3156489d6

Response Measures

None

Receivership Details

Depositor recovery rate: 80.0%
Date receivership started: 1933-11-15
Share of assets assessed as good: 41.2%
Share of assets assessed as doubtful: 53.4%
Share of assets assessed as worthless: 5.4%

Description

Article (Feb 4, 1898) reports steps toward appointment of a receiver for the First National Bank at Grand Forks (controller of the currency involvement). No run or temporary suspension is described; receiver appointment indicates closure/receivership (government action).

Events (3)

1. October 6, 1881 Chartered

Source: historical_nic

2. February 4, 1898 Receivership

Newspaper Excerpt: Senator Hansbrough and W. B. Woods of Grand Forks, called on the controller of the currency in the interests of the latter for the appointment as receiver of the First National Bank at Grand Forks. It is probable that Mr. Woods will receive the appointment.
Source: newspapers

3. November 15, 1933 Receivership

Source: historical_nic

Newspaper Articles (1)

1. February 4, 1898 Bismarck Weekly Tribune Bismarck, ND

Article from Bismarck Weekly Tribune, February 4, 1898

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Article Text

Receivers of North Dakota Banks. Washington special says: Senator Hansbrough and W. B. Woods of Grand Forks, called on the controller of the currency in the interests of the latter for the appointment as receivor of the First National Bank at Grand Forks. It is probable that Mr. Woods will receive the appointment. This is one of the few candidates for office in North Dakota who has received the joint indorsement of Senator Hansbrough and Representative Johnson. The controller of the currency said that before any action would be taken towards the removal of Receiver Roach from the First National Bank of Minot, a bank examiner will be detailed to make an inspection of the affairs of the bank. Maj. Edwards of Fargo, who has left for home, was here in the interest of Maj. Murphy's candidacy for receiver of the Minot bank. Maj. Murphy is indorsed by Representative Johnson and will probably secure the place.