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PLYMOUTH BANK IS TAKEN OVER BY STATE DEPARTMENT Farmers State Bank Closes Temporarily; May Effect a Reorganization The Farmers State Bank of Plymouth suspended operations Friday and was taken over by the state department of trade and commerce by A. F. Jorgensen, examiner of the banking department. Deposits in June 1929, amounted to about $250,000 at the time the bank closed deposits are said to have been $168,000. Louis Knoche was president of the bank and the directors were H. C. Nispel, H. F. Scheve, George Sandman, John Selk, jr., D. H. Four years the Farmers State Bank bought out the Bank of Plymouth which was the older of the two institutions. The closing of the Farmers' State leaves the town without a bank. It is understood that the bank had been having its difficulties, and stockholders in the bank paid in an assessment last spring to keep it solvent. The bank suspended operations at this time in order to effect a reorganization, with additional capital, and the re-organization is being pushed as rapidly as possible 80 that the bank can open soon.
