12214. Citizens State Bank (Edgeley, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1921*
Location
Edgeley, North Dakota (46.359, -98.716)

Metadata

Model
gpt-5-mini
Short Digest
41c86eba

Response Measures

None

Description

Articles (Dec 1921) discuss complaints about the receiver of the Citizens State Bank of Edgeley and indicate the bank was closed and in receivership. Later (Oct–Nov 1922) legal notices list the bank as a closed bank with a receiver and assets for sale. No run is mentioned; the bank was closed and placed in receivership (government action). OCR variants of Edgeley (Edgely/Edgley) corrected to Edgeley.

Events (2)
1. December 1, 1921* Suspension
Cause
Government Action
Cause Details
Bank had been closed and a receiver appointed (H. J. Oberman mentioned as receiver); complaints filed about receiver's qualifications.
Newspaper Excerpt
Complaint was made to the state banking board late yesterday of the services of H. J. Oberman, receiver for the Citizens State Bank of Edgely.
Source
newspapers
2. October 26, 1922 Receivership
Newspaper Excerpt
Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: ... Citizens' State Bank, Edgeley, North Dakota, O. L. Engen, receiver, Fargo.
Source
newspapers

Newspaper Articles (8)
1. December 6, 1921 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 6, 1921

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PLAN TO JOIN RECEIVERSHIPS OF MANY BANKS State Guaranty Fund and Banking Board Would Reduce Number Employed AIM TO CUT EXPENSES Protest Made Against One Receivership Who is Called Before State Board Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and great er efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking Board, it was stated officially today. Under the proposed plan about 35 receivers would be eliminated and approximately 30 retained. In some cases, under the proposed plan, one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conferences of the boards extending over several days. Under the proposed plan five closed banks in Renville county would bc placed under one receiver, who would employ collectors to aid in his work. All closed banks tributary to New England would be placed under one receiver. The consolidation would be carried as far as deemed practicable. Effect Reopenings A number of the closed banks, it is expected, will reopen in the near future and in these cases the receiverships would not be embraced in the consolidation. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in all cases. The expense of receivership would be reduced considerably in saving upon salaries, it is stated. Complain of Receiver Complaint was made to the state banking board late yesterday of the services of H. J. Oberman, receiver for the Citizens State Bank of Edgley. A. G. Porter, Edgely attorney; W. E. Murfin, Fargo attorney, and Ralph Hall and Dr. L. B. Green presented the protests, saying that Oberman had not had much banking experience and was not qualified for the position. Oberman, an Ellendale resident, was named receiver on recommendation of O. F. Lofthus, former state examiner, it was said. The protéstants alleged the appointment was made for political reasons. The banking board will hold a hearing on Thursday, and the receiver will be summoned before the board.

2. December 6, 1921 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, December 6, 1921

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RECEIVERSHIP CONSOLIDATION IS CONSIDERED Economy and Efficiency Would Result, it is Said, For Closed Banks. Bismarck, N. D.. Dec, 6.-Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and greater efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking board. it was stated officially today. Under the proposed plan about 25 receivers would be eliminated and ap. proximately 20 retained. In some cases, under the proposed plan. one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conferences of the d boards extending over several days. Under the proposed plan five closed banks in Renville county would be y placed under one receiver. who would employ collectors to aid in his work. d All closed banks tributary to New In d England would be placed under one receiver. The consolidation would b6 is 11 carried as far as deemed practicable. h Some May Reopen. A number of the closed banks, it is expected, will reopen in the near future/and in these cases the receivere ships would not be embraced in the consolidated plan. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking Board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in (all cases. The expenses of receivership would be reduced considerably in saving upon salaries, it is stated. Kick Made at Edgeley. d Complaint was made to the state of banking board late yesterday of the in services of H. J. Oberman, receiver for g the Citizens' State Bank of Edgely. in A. G. Porter, Edgely attorney; W. H. a Murfin. Fargo attorney, and Ralph st Hall and Dr. L. B. Green presented al the protests. saying that Oberman had ot not had much banking experience and he ed was not qualified for the position aOberman, an Ellendale resident, was nnamed receiver on recommendation of O. F. Lofthus. former state examiner ed it was said. The protestants alleged he the appointment was made for politimcal reasons. The banking board wil id hold a hearing on Thursday, and the er receiver will be summoned before the ng board.

3. December 8, 1921 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, December 8, 1921

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CONSOLIDATION OF RECEIVERSHIP OF BANKS PROPOSED Guaranty Fund Commission Believe Move Will Make For Economy and Efficiency-Some - Receivers Would Have as Many as Five Closed Banks. Bismarck, N. D., Dec. 8-(Special) - Consolidation of receiverships of many closed banks in the state for the purpose of gaining economy and greater efficiency in handling their affairs is under consideration by the Guaranty Fund Commission and the State Banking Board it was stated officially today. Under the proposed plan about 25 receivers would eliminated and approximately 20 retained. In some cases, under the proposed plan, one receiver would have as many as five banks under his control, but in some isolated cases a receiver would have but one bank under his jurisdiction. Legal phases of the matter now are being investigated and when a report is completed the Guaranty Fund Commission again will be summoned in meeting to take up details of putting the proposed plan in operation. The decision follows conference of the boards extending OVer several days. Under the proposed plan five closed banks in Renville county would be placed under one receiver, who would employ collectors to aid in his work. All closed banks tributary to New England would be placed under one receiver. The consolidation would be carried as far as deemed practicable. A number of the closed banks, it is expected, will re-open in the near future and .in these cases the receiverships would not be embraced in the consolidated plan. Another feature of the proposed plan is that salaries of the receivers would be fixed by the banking board. The statutory salary of a receiver is $10 a day. In most cases at present, it is stated, receivers are getting this salary, but not in all cases. The expense of receivership would be reduced considerably in saving upon salaries, it is stated. Protest Aagainst Oberman Complaint was made to the state banking board late yesterday of the service of H. J. Oberman, receiver for the Citizens State Bank of Edgeley. A. G. Porter, Edgeley attorney W. H. Murfin, Fargo attorney, and Ralph Hall and Dr. L. B. Green, presented the protests, saying that Oberman had not had much banking experience and was not qualified for the position. Oberman, an Ellendale resident, was named receiver on rec. ommendation of O. F. Loftus, former state examiner, it was said. The protestants alleged the appointment was made for political reasons. The banking board will hold a hearing on Thursday, and the receiver will be summoned before the board.

4. December 15, 1921 The Ward County Independent Minot, ND
Article from The Ward County Independent, December 15, 1921

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banks and interests of the depositors and creditors have been utterly neglected in many instances. Acting on instructions from the governor, who has discussed the matter with the members of the banking board, State Examiner Gilbert Semingson has requested the resignations of receivers of all closed banks; this request is accompanied by the information that they may file their applications anew, and those who are able to show a good record will have a chance to get their jobs back. A complete reorganization of the receiverships is planned for the purpose of expediting the work and prevent unnecessary expenditures. Complaints have been filed against several receivers. The banking board last week took up the case against H. J. Oberman, receiver of the Citizens State Bank of Edgely. It took the case under advisement.

5. October 26, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 26, 1922

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LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

6. October 27, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 27, 1922

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LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.

7. November 2, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 2, 1922

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TYPEWRITERS FOR SALE REBUILT MACHINES $30 AND UP; guaranteed for one year. Send for catalog. Russell E. Spear, Grand Forks. WANTED TO BUY. LATE MODEL FORD TOURING CAR wanted. Must be in good condition and reasonable. Phone 2551-J. WANT TO BUY - MEDIUM SIZE house at reasonable price. O. E. Fosse. Box 131. WANTED TO BUY-USED CAR. FORD sedan preferred. George Andrysak, Hannah, N. D. LEGAL NOTICES. BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett. receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen. receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs. North Dakota. H. B. Hanson, receiver. Crystal Springs. Bank of New Rockford. New Rockford. North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith. North Dakota. C. F. Kelloge, receiver. Bismarck. Peoples State Bank. Grand Forks, North Dakota. John Vallely. receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota, Fred F. Walz. receiver. Egeland Security State Bank, Courtenay. North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper North Dakota. D. L. Engen. receiver Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank. Pingree. North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazon, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford. North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner. Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer. North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community. all bids to be accompanied by certified check of one per cent/ of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

8. November 3, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 3, 1922

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LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)