First Kenmare National Bank

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 6555
Charter Number: 6555
Start Date: November 10, 1931
Location: Kenmare, North Dakota (48.675, -102.083)

Metadata

Model: gpt-5-mini
Short Digest: c59e27cc

Response Measures

None

Receivership Details

Depositor recovery rate: 19.0%
Date receivership started: 1933-12-08
Date receivership terminated: 1937-11-30
Share of assets assessed as good: 23.1%
Share of assets assessed as doubtful: 75.3%
Share of assets assessed as worthless: 1.6%

Description

Article reports the First Kenmare National Bank suspended business on Nov 10, 1931, and resumed operations Dec 12, 1931 after examiner/comptroller-approved reorganization with depositors giving waivers under a three-year plan. No run or depositor panic is described.

Events (4)

1. December 26, 1902 Chartered

Source: historical_nic

2. November 10, 1931 Suspension

Cause Details: Bank suspended beginning Nov. 10; article does not state specific trigger — examiner in charge later recommended setup and comptroller approved reorganization with depositors' waivers.
Newspaper Excerpt: the First Kenmare National bank, after a suspension of business since Nov. 10, resumed operations Saturday
Source: newspapers

3. December 12, 1931 Reopening

Newspaper Excerpt: resumed operations Saturday, again affording the banking facilities ... Confirmation of the setup as recommended by the examiner in charge was received Friday from the comptroller of currency and the details of the opening were quickly completed.
Source: newspapers

4. December 8, 1933 Receivership

Source: historical_nic

Newspaper Articles (1)

1. December 12, 1931 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, December 12, 1931

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Article Text

Kenmare Bank Is Reopened Saturday Kenmare, N. D., Dec. 12.-(A)-The First Kenmare National bank, after a suspension of business since Nov. 10, resumed operations Saturday, again affording the banking facilities to the "gooseneck" territory of Ward county. Confirmation of the setup as recommended by the examiner in charge was received Friday from the comptroller of currency and the details of the opening were quickly completed. Depositors showed their faith in the movement, which was started at the time of closing, by giving waivers under a three-year plan. "The bank will continue to function and the confidence of the people was well shown by the generous deposits today," said a statement issued by J. N. Fox, president, and David Clark, Jr., vice president and cashier.