Citizens National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 3602
Charter Number: 3602
Start Date: January 1, 1891*
Location: Fargo, North Dakota (46.877, -96.790)

Metadata

Model: gpt-5-mini
Short Digest: 74d061ad

Response Measures

None

Receivership Details

Depositor recovery rate: 71.2%
Date receivership started: 1897-01-07
Date receivership terminated: 1903-06-15
OCC cause of failure: Losses
Share of assets assessed as good: 17.2%
Share of assets assessed as doubtful: 66.3%
Share of assets assessed as worthless: 16.5%

Description

Article (1912) recounts that Citizens National Bank had failed a short time before the Fargo National Bank was organized in 1891; the receiver sold building and fixtures. No run is described. Date of failure not explicit; placed in 1891 (same year the successor was organized).

Events (3)

1. December 14, 1886 Chartered

Source: historical_nic

2. January 1, 1891* Receivership

Newspaper Excerpt: They succeeded the Citizens National bank, which had failed a short time before, and purchased from the receiver the building and fixtures.
Source: newspapers

3. January 7, 1897 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 13, 1912 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, January 13, 1912

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Article Text

In 1897, a number of the business men of this city, realizing the necessity for larger banking facilities to accommodate the rapid growth of Fargo, met and organized a corporation to conduct the Fargo National bank. The organization was completed Sept. 13, 1891, with Martin Hector as president; O. J. deLendrecie as vice president; W. C. Macfadden as cashier, with a directorate composed of the above officers and S. G. Wright and G. E. Nichols. They succeeded the Citizens National bank, which had failed a short time before, and purchased from the-receiver the building and fixtures. The bank was organized with a capital of $50,000, and began the transaction of business as a mielativ commercial bank. When Mr.