Cass County National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7142
Charter Number: 7142
Start Date: January 1, 1928*
Location: Casselton, North Dakota (46.901, -97.211)

Metadata

Model: gpt-5-mini
Short Digest: ef3ab915

Response Measures

None

Receivership Details

Depositor recovery rate: 78.8%
Date receivership started: 1928-12-10
Date receivership terminated: 1935-06-15
OCC cause of failure: Economic conditions
Share of assets assessed as good: 51.6%
Share of assets assessed as doubtful: 38.7%
Share of assets assessed as worthless: 9.6%

Description

Article states the bank closed in 1928 and a receiver (F. W. Vail) is suing former directors in 1930. No contemporaneous run is described in the article; only closure and receivership litigation are mentioned.

Events (3)

1. February 16, 1904 Chartered

Source: historical_nic

2. January 1, 1928* Receivership

Newspaper Excerpt: The bank closed in 1928.
Source: newspapers

3. December 10, 1928 Receivership

Source: historical_nic

Newspaper Articles (1)

1. April 5, 1930 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, April 5, 1930

Click image to open full size in new tab

Article Text

Former Heads of Bank At Casselton Are Sued Fargo, N. D., April 5.-(P)-Suit for $108,110 against former directors of the Cass County National bank at Casselton has been instituted in federal court here by F. W. Vail, receiver. The defendants have been ordered to appear before Judge Andrew Miller April 16. The bank closed in 1928. The plaintiff charges the directors are liable for losses because of approval of loans on questionable security and because of failure to keep in touch with conditions at the bank which, the complaint alleges, had been in poor condition for some time.