12304. First State Bank (Hague, ND)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
January 1, 1933*
Location
Hague, North Dakota (46.029, -99.996)

Metadata

Model
gpt-5-mini
Short Digest
f62d1a0e

Response Measures

None

Description

The bank suspended for about a month for reorganization (deposits reduced 50%); it then reopened. No article describes a depositor run triggering the suspension — cause appears to be bank-specific distress requiring reorganization. Two articles report reopenings (Feb 7, 1933 item and a March 23, 1933 statewide list that includes Hague).

Events (3)
1. January 1, 1933* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspended to permit reorganization of bank affairs; capital and surplus reduced and depositors accepted 50% reduction in deposits.
Newspaper Excerpt
has reopened for business after a month's suspension to permit a reorganization of the bank affairs.
Source
newspapers
2. February 7, 1933 Reopening
Newspaper Excerpt
HAGUE BANK REOPENS Hague, N. D., Feb. 7.-The First State Bank of Hague has reopened for business after a month's suspension to permit a reorganization of the bank affairs. Capital stock and surplus have been reduced from $38,500 to $18,000, with depositors aceepting a reduction of 50 per cent in their deposits.
Source
newspapers
3. March 23, 1933 Reopening
Newspaper Excerpt
The 14 reopened Wednesday are: ... Hague, First State Bank; ... 14 additional state banks reopened Wednesday for unrestricted operation
Source
newspapers

Newspaper Articles (2)
1. February 7, 1933 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 7, 1933

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Article Text

HAGUE BANK REOPENS Hague, N. D., Feb. 7.-The First State Bank of Hague has reopened for business after a month's suspension to permit a reorganization of the bank affairs. Capital stock and surplus have been reduced from $38,500 to $18,000, with depositors aceepting a reduction of 50 per cent in their deposits. S. A. Fischer is president of the bank and J. J. Jaeger is cashier. Trustees are Martin Van Soest, Martin F. Schall and Morris Cheit. The Ace of Clubs, in card games, is often called "the puppyfoot." Northern France probably has the best grass lands in Europe.

2. March 23, 1933 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, March 23, 1933

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Article Text

14 ADDITIONAL STATE BANKS OPENED IN N.D. Applications Granted as Rapidly as Audits Can Be Made. additional state banks reopened Wednesday for unrestricted operation, bringing to 52 the total now doing on normal basis examinorders the group of banks reopen Wednesday, while examiners continue audits of other state banks with view to permitting reopenings week. Semingson again out opening of number of banks should not be interpreted as meaning other banks are not in position to do Applications for reopening are being granted as rapidly as the proper audits can made. banks reopened Monday, and eleven Tuesday. The 14 reopened Wednesday are: Alice, State Bank of Alice: Beulah, German State Bank; Dunn Center, Union Bank of Dunn Center; Elgin, Farmers Merchants Bank; Fredonia, First State Bank: Hague, First State Bank; Litchville, Litchville State Bank; Mercer, The Mercer State Bank; Minto, Bank of Minto; Noonan, First International Bank; Silva, First State Bank Strasburg, First State Bank of Strasburg; Velva, Peoples State Bank; Zap, First State Bank.