Peoples State Bank - Lakota, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 10, 1909
Location: Lakota, North Dakota (48.043, -98.336)

Metadata

Model: gpt-5-mini
Short Digest: fdbbebe0

Response Measures

None

Description

OCR-heavy article describing failure/looting at the Peoples State Bank in Lakota, ND. Text references embezzlement/looting by cashier/president, appointment of a receiver and bank failure. No explicit contemporaneous depositor run is described; the failure appears tied to internal malfeasance. Date references are jumbled in OCR; a September 1909 date (10 September / 1909) appears but is uncertain. I therefore classify as a suspension leading to closure/receivership due to bank-specific adverse information (embezzlement).

Events (2)

1. September 10, 1909 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Internal looting/embezzlement by cashier/president (references to 'looting the bank', guilty pleas, and appointment of receiver).
Newspaper Excerpt: When People's State bank by on Bank 26, in Jan this the short... been have public but this Rahtheir ders and of this guilty beor was 1892... Upon of was this Judge of the that it and that these proappointed as of reGeorge Mr. failure septhree the recand Mr. Rahders of forgupon being based state On the filed Cashier this time being ocMr the depwhile of one deBoth fense at and the district their court entered of pleas was The the depositors twentyfive that on the day should on been hand, have was when there of but $2,774
Source: newspapers

2. * Receivership

Newspaper Excerpt: appointed as of receiver... the failure ... and the district court entered pleas ... depositors ... $2,774 ... From 1909 ... $30,000.00 time that on ap 1909, $7,000 rapid; to the from been on 10 September
Source: newspapers

Newspaper Articles (1)

1. July 15, 1910 The Evening Times Grand Forks, ND

Article from The Evening Times, July 15, 1910

Click image to open full size in new tab

Article Text

to Goes State Penitenfor One and tiary Seven Half Years OF GETS Instiof Period Each Year. July Cashier this C. Templeton of counNelson of in the each one Dakota of the most disas has that trous cases atpublic so far of dithose of rectly looting the given of two while to sevFloren Cashier In of the half years been whose president an for bad years, the of terms It on by of the When People's State bank by on Bank 26, in Jan this the short of of age the of of the valwhile face of the looting bank been have public but this Rahtheir ders and of this guilty beor was 1892, NOV Rahders, as closely in business. was The bank the Floren, then Lakota Mr. and bank, to of state and failed of the bank largely in the bank Upon of was this Judge of the that it and that these proappointed as of reGeorge Mr failure septhree the recand Mr. Rahders of forgupon being based state On the filed Cashier this time being ocMr the depwhile of one deBoth fense at and the district their court entered of pleas was The the depositors twentyfive that on the day should on been hand, have was when there of but $2,774 of the in for prior to was the as of the the was its purthe by and the the In 1902 bank acfirst found it 1903 being to 1904 had in 1907 $8,000; to ended 190% of $10, with of the 000, From 1909, was the $30,000.00 time that on ap 1909, $7,000 rapid; to the from been on 10 September