First National Bank - Crystal, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 7918
Charter Number: 7918
Start Date: May 8, 1926
Location: Crystal, North Dakota (48.597, -97.670)

Metadata

Model: gpt-5-mini
Short Digest: 44ee85f3

Response Measures

None

Receivership Details

Depositor recovery rate: 27.9%
Date receivership started: 1925-02-07
Date receivership terminated: 1928-05-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 46.5%
Share of assets assessed as doubtful: 31.1%
Share of assets assessed as worthless: 22.5%

Description

Article (May 8, 1926) states the First National Bank of Crystal, N.D., is in receivership under A. J. Wallerius and that a 10% dividend to depositors will be paid. No run is mentioned; the bank is closed and a receiver is administering distributions, so classified as suspension leading to closure/receivership.

Events (3)

1. September 19, 1905 Chartered

Source: historical_nic

2. February 7, 1925 Receivership

Source: historical_nic

3. May 8, 1926 Receivership

Newspaper Excerpt: The First National Bank of Crystal, N. D., will pay its depositors a dividend of 10 per cent, it was announced today by A. J. Wallerius, receiver for the bank.
Source: newspapers

Newspaper Articles (1)

1. May 8, 1926 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, May 8, 1926

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Article Text

Crystal Bank to Pay a Dividend St. Paul, Minn., May 8.-APThe First National Bank of Crystal, N. D., will pay its depositors a dividend of 10 per cent, it was announced today by A. J. Wallerius, receiver for the bank. The checks will be sent out by Mr. Wallerius next week.