First National Bank (Eureka, SD)

Episode Information

Episode UID
1152701496
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
115270 national
Charter Number
11527
Start Date
August 16, 1924
Location
Eureka, South Dakota (45.769, -99.620)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
61f73c5c5d70ed68

Response Measures

None

Receivership Details

Depositor recovery rate
59.1%
Date receivership started
1920-08-20
Date receivership terminated
1932-06-01
OCC cause of failure
Fraud
Share of assets assessed as good
77.0%
Share of assets assessed as doubtful
19.7%
Share of assets assessed as worthless
3.3%

Description

Receiver (Paul C. Keyes) is repeatedly referenced and court actions in 1924โ€“1928 concern receiver rights; indicates permanent closure with receiver.

Events (5)

1. November 28, 1919 Chartered
Source
historical_nic
2. August 20, 1920 Receivership
Source
historical_nic
3. August 16, 1924 Receivership
Newspaper Excerpt
Paul C. Keyes, receiver of the First National bank at Eureka, S. D.
Source
newspapers
4. September 18, 1924 Other
Newspaper Excerpt
Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money...
Source
newspapers
5. October 22, 1928 Other
Newspaper Excerpt
The receiver of the First National bank of Eureka, S. D., today was refused review by the United States supreme court...
Source
newspapers

Newspaper Articles (10)

Article from The Bismarck Tribune, August 19, 1924

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Article Text

"NORTH and South Dakota lands are commencing to move at reasonable prices. I have for sale 5,000 acres of good land in the two states in large and small tracts and would prefer to deal direct with purchasers rather than through agents. Paul C. Keyes, Receiver, The First National Bank of Eureka, P. O. Box 958, Federal Building, Aberdeen, South Dakota." 8-16-19-21-23-26-28


Article from Rock County Leader, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from The Allen News, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from The Frontier, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from North Nebraska Eagle, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from Winnebago Chieftain, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from Winside Tribune, September 18, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from The Pender Republic, September 19, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from The Orchard News, September 19, 1924

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Article Text

BANK RECEIVER GETS SHARE OF LIFE INSURANCE Denver, Colo., Sept. โ€” Paul C. Keyes, receiver of the First National bank at Eureka, S. D., from which Christian Volander, former president, was alleged to have misappropriated money to pay the premiums on his five life insurance policies of a face value of $28,000, was declared entitled to three-fourths of Volander's life insurance in a decision of the United States circuit court of appeals, announced here.


Article from Argus-Leader, October 22, 1928

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Article Text

EUREKA BANK RECEIVER DENIED REVIEW OF CASE Washington, Oct. 22.-(P)-The receiver of the First National bank of Eureka, S. D., today was refused review by the United States supreme court of decision of the lower federal courts holding that the First National bank of S. D., had the right to charge off 'on its books against the funds of Eureka which held, notes totaling more than $37,000.