Merchants National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3169
Charter Number: 3169
Start Date: December 22, 1923
Location: Bismarck, North Dakota (46.808, -100.784)

Metadata

Model: gpt-5-mini
Short Digest: 6fbf97e1

Response Measures

None

Description

Article (Dec 22, 1923) reports the Merchants National was unable to obtain financing, would be placed in receivership and had closed. No mention of a depositor run; failure appears driven by inability to raise funds (bank-specific insolvency).

Events (4)

1. April 28, 1884 Chartered

Source: historical_nic

2. October 28, 1884 Voluntary Liquidation

Source: historical_nic

3. December 22, 1923 Receivership

Newspaper Excerpt: The bank will be thrown into a receivership, it is expected.
Source: newspapers

4. December 22, 1923 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Unable to raise sufficient financing to carry the institution through the emergency; led to closing and expected receivership.
Newspaper Excerpt: There were no irregularities, according to the bank examiner. The bank will be thrown into a receivership, it is expected. The closing did not affect other banks.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1923 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, December 22, 1923

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Article Text

papers of the Merchants National to ascertain whether they could take over enough of it to finance the institution over the emergency but there was not a favorable result. There were no irregularities, according to the bank examiner. The bank will be thrown into a receivership, it is expected. The closing did not affect other banks. The Merchants National was organized by F. S. Graham of Minneapolis in September, 1914. Mr. Graham had taken over the assets of the old Farmers and Merchants State bank, under which the cashiership of E. H. McHugh, had closed during the early summer of 1914. Graham sold the institution to R. S. Johnstone and T. S. Johnstone of Ashley, in 1916 and a group of local stockholders was interested in the enterprise. The bank is located in the Lewis and Clark hotel building.