Scandinavian American Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 12, 1929
Location: Fargo, North Dakota (46.877, -96.790)

Metadata

Model: gpt-5-mini
Short Digest: b633d99b

Response Measures

None

Description

Article (The Bismarck Tribune, 1929-10-12) states O. E. Lofthus, state examiner, has returned to Fargo where he is acting as temporary receiver of the Scandinavian-American Bank. The piece does not explicitly say the bank suspended before receivership, but the appointment of a temporary receiver is government action indicating the bank was effectively closed/placed in receivership. I infer a government-action suspension leading to closure/receivership. No mention of a depositor run or rumor.

Events (2)

1. October 12, 1929 Receivership

Newspaper Excerpt: O. E. Lofthus, state examiner, has returned to Fargo where he is acting as temporary receiver of the Scandinavian-American bank.
Source: newspapers

2. October 12, 1929 Suspension

Cause: Government Action
Cause Details: State examiner returned to Fargo and was acting as temporary receiver; bank placed under official control by state examiner.
Newspaper Excerpt: O. E. Lofthus, state examiner, has returned to Fargo where he is acting as temporary receiver of the Scandinavian-American bank.
Source: newspapers

Newspaper Articles (1)

1. October 12, 1929 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, October 12, 1929

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Article Text

he gave an address at a meeting of educators. Captain E. G. Wanner is in charge of arrangements/for the parade Tuesday which will be a part of the homecoming celebration. O. E. Lofthus. state examiner. has returned to Fargo where he is acting as temporary receiver of the Scandinavian-American bank.