12361. Karnak State Bank (Karnak, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 9, 1926
Location
Karnak, North Dakota (47.281, -98.064)

Metadata

Model
gpt-5-mini
Short Digest
36532c75

Response Measures

None

Description

Newspaper items report dividends paid to creditors/depositors by the state bank receiver, indicating the Karnak State Bank was closed and in receivership. No article describes a depositor run; the bank is permanently closed with a receiver making dividend payments.

Events (2)

1. March 9, 1926 Receivership
Newspaper Excerpt
Baird also announced payment of 15 per cent dividend to creditors of the Karnak State bank. Karnak. to be made by W. Conroy. district manager at Devils Lake
Source
newspapers
2. January 17, 1927 Receivership
Newspaper Excerpt
Karnak State Bank, second dividend of 20 per cent;
Source
newspapers

Newspaper Articles (2)

Article from The Bismarck Tribune, March 9, 1926

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Article Text

Watford City and Karnak Banks Are to Pay Dividends Payment of a 20 per cent dividend to creditors of the American Exchange Bank of Watford City was announced here today by L. R. Baird, state bank receiver. The payment will be made through J. P. Reeve, district manager for the receiver at Burlington. A previous dividend of 10 per cent already has been paid to the bank's creditors. Baird also announced payment of 15 per cent dividend to creditors of the Karnak State bank. Karnak. to be made by W. Conroy. district manager at Devils Lake


Article from The Bismarck Tribune, January 17, 1927

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Article Text

DIVIDENDS TO BE PAID BY 10 CLOSED BANKS State Receiver Baird Announces Payments Through District Offices Dividends to be paid to the depositors in 10 closed banks were announced here today by L. R. Baird, state receiver of closed banks. Five dividends to be paid through the office of C. W. Conroy, district manager at Devils Lake, are: Security Bank of Oberon, a second dividend of 10 per cent; Security State Bank, Kensal, second dividend of 10 per cent; Farmers State Bank, Hesper, second dividend of 15 per cent; Karnak State Bank, second dividend of 20 per cent; Security State Bank, Brantford, a dividend of 10 per cent. Two dividends will be paid through the office of G. R. Van Sickle, district manager at Minot, as follows: Farmers and Merchants State Bank, Barton, 20 per cent; Towner State Bank, Towner, a second dividend of 30 per cent. Three dividends will be paid through the office of J. P. Reeve, district manager at Burlington, as follows: Farmers State Bank, Noonan, a second dividend of 20 per cent; Citizens State Bank, Flaxton, second dividend of 10 per cent; First State Bank, Lansford, second dividend of 10 per cent.