Peoples State Bank - Hatton, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1925*
Location: Hatton, North Dakota (47.640, -97.453)

Metadata

Model: gpt-5-mini
Short Digest: de96010a

Response Measures

None

Description

Articles (June 1925) state People's State Bank of Hatton was among the first 58 banks which closed and that the receiver paid depositors 100% of their deposits. No mention of a depositor run prior to suspension; the bank was closed and placed in receivership and depositors received dividends.

Events (2)

1. June 1, 1925* Suspension

Cause: Government Action
Cause Details: Bank closed and placed in receivership as one of the group of failed banks (receiver paid dividends)
Newspaper Excerpt: the first 58 banks which closed ... Depositors of the People's State bank of Hatton received 100 percention the dollar of their deposits
Source: newspapers

2. June 9, 1925 Receivership

Newspaper Excerpt: Depositors of the People's State bank of Hatton received 100 percent on the dollar of their deposits. . . dividends of the receiver of closed banks.
Source: newspapers

Newspaper Articles (2)

1. June 9, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, June 9, 1925

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Article Text

depositors of the first 58 banks which closed has been increased in several instances by dividends of the receiver of closed banks. Depositors of the People's State bank of Hatton received 100 percention the dollar of their deposits, and depositors of the People's State bank of Leith have received 60 percent in dividends from the receiver and 10 percent from the depositors guaranty fund commission. Other banks on which dividends have been paid by the receiver, in addition to the 10 percent of the depositors guaranty fund commission, are: Security State bank of Columbus, 10 percent; Fortuna State bank, 30 percent; Prosper State bank, 10 percent; Citizens State bank of Hazen, 10 percent; First Farmers of Minot, 10 percent. The first 58 banks which closed. on which the guaranty fund dividend was paid, included several of the largest banks which closed, among them the Scandinavian-American bank of Fargo, the Williams County State bank of Williston and the First Farmers of Minot.

2. June 26, 1925 The Producers News Plentywood, MT

Article from The Producers News, June 26, 1925

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Article Text

RECEIVER REALIZES CONSIDERABLE The 10 per cent dividend paid to depositors of the first 58 banks which closed has been increased in several instances by dividends of the receivers of closed banks. Depositors of the People's State bank of Hatton received 100 per cent on the dellar of their deposits and depositors of the People's State bank of Leith have received 60 per cent in dividends from the depositors guaranty fund commission. Other banks on which dividends have been paid by the receiver in addition to the 10 per cent of the depositars guarantee fund commission, are: Security State Bank of Columbus, 10 per cent; Fortuna State bank, 30 per cent; Prosper State Bank, 30 per cent; Prosper State bank, 10 per cent; Citizens State bank of Hazen, 10 per cent; First Farmers of Minot, 10 per cent.