Security State Bank - Benedict, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 23, 1922
Location: Benedict, North Dakota (47.830, -101.082)

Metadata

Model: gpt-5-mini
Short Digest: 773d2139

Response Measures

None

Description

Notice explicitly names the bank as insolvent and a receiver (A. E. Sevareid) was appointed (dated Nov 23, 1922). No mention of a depositor run in the article; this is a suspension leading to permanent closure/receivership.

Events (2)

1. November 23, 1922 Receivership

Newspaper Excerpt: Dated November 23, 1922. A. E. SEVAREID, Receiver, Velva, N. Dak.
Source: newspapers

2. November 23, 1922 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank declared insolvent; notice to creditors and claims deadline indicates failure due to insolvency.
Newspaper Excerpt: NOTICE In the Matter of the Insolvency of the Security State Bank, Benedict, North Dakota.
Source: newspapers

Newspaper Articles (1)

1. December 8, 1922 The Washburn Leader Washburn, ND

Article from The Washburn Leader, December 8, 1922

Click image to open full size in new tab

Article Text

NOTICE In the Matter of the Insolvency of the Security State Bank, Benedict, North Dakota. To the Creditors of the Security State Bank. Notice is hereby given to the creditors of the above named insolvent bank, that the time for presenting claims against said bank will expire May 23rd, 1923, and you are hereby notified that any claims against said insolvent bank must be filed before said date. Dated November 23, 1922. A. E. SEVAREID, Receiver, Velva, N. Dak. (Began Nov. 24-Ends Dec. 15.)