Kongsberg State Bank - Kongsberg, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 8, 1928
Location: Kongsberg, North Dakota (47.851, -100.801)

Metadata

Model: gpt-5-mini
Short Digest: e7478481

Response Measures

None

Description

Article (Nov 22, 1928) states the state banking department ordered the bank closed about two weeks earlier and that directors paid off all depositors under agreement with the receiver. No run is mentioned. Estimated suspension date set to ~1928-11-08 (two weeks before publication).

Events (3)

1. November 8, 1928 Suspension

Cause: Government Action
Cause Details: Closed by the state banking department (regulatory order)
Newspaper Excerpt: ordered closed two weeks ago by the state banking department
Source: newspapers

2. November 22, 1928 Other

Newspaper Excerpt: Directors of the local state bank ... have paid off all depositors of the institution. Payment of deposits by the directors is believed to be the first case of its kind in the state. When the bank closed it had deposits of $22,222.60. Assets of the institution will also be taken over by the officials in an effort to liquidate them.
Source: newspapers

3. November 22, 1928 Receivership

Newspaper Excerpt: under an agreement with the receiver, bank officials announced today. Payment of deposits by the directors is believed to be the first case of its kind in the state.
Source: newspapers

Newspaper Articles (1)

1. November 22, 1928 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, November 22, 1928

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Article Text

Kongsberg's Closed State Bank Pays Off All Its Depositors Kongsberg, N. D., Nov. 22.-Directors of the local state bank, ordered closed two weeks ago by the state banking department, have paid cif all depositors of the institution. under an agreement with the receiver, bank officials announced today. Payment of deposits by the directors is believed to be the first case of its kind in the state. When the bank closed it had deposits of $22,222.60. Depositors were paid by N. J. Krebsbach, cashier and director, R. P. Krebsbach, Velva, director, and Henry Raap, Kongsberg, director. Assets of the institution will also be taken over by the officials in an effort to liquidate them.