First State Bank - Lankin, ND

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 9, 1913
Location: Lankin, North Dakota (48.311, -97.925)

Metadata

Model: gpt-5-mini
Short Digest: 009d6a00

Response Measures

None

Description

Bank was taken into custody by state bank examiners on Dec 9, 1913 due to $12,000 of paper refused by examiner; it was temporarily closed for about a week and then reopened (mid-December 1913) after reorganization. No mention of depositor run in the articles.

Events (2)

1. December 9, 1913 Suspension

Cause: Bank Specific Adverse Info
Cause Details: State examiner refused to accept approximately $12,000 worth of paper (bad/doubtful loans), prompting examiners to take charge and close the bank while investigation/reorganization proceeded
Newspaper Excerpt: The First State bank of Lankin ... is in the hands of Bank Examiner Severtson and Deputy Examiner Nelson today ... the doors of the institution were closed at that time
Source: newspapers

2. December 16, 1913 Reopening

Newspaper Excerpt: The First State bank of Lankin will open its doors to the public again today after a temporary suspension of about a week as the result of an investigation into the paper carried by the bank, conducted by K. C. Nelson, bank examiner.
Source: newspapers

Newspaper Articles (5)

1. December 9, 1913 The Evening Times Grand Forks, ND

Article from The Evening Times, December 9, 1913

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Article Text

LANKIN BANK IS IN HANDS OF THE STATE EXAMINER Declared That There is $12,000 Worth of Bad Paper in the Institution RE-ORGANIZATION NOW UNDER WAY Generally Understood That There to No Prospect of Losses to Depositors and that Affairs will be Satta factorily Adjusted Soon. (Times Special Service.) Lankin, N. D., Dec. 9.-The First State bank of Lankin, capitalized at $10,000, with deposits of $120,000, is in the hands of Bank Examiner Severtson and Deputy Examiner Nelson today, the result of the refusal of the bank examining department to accept approximately $12,000 worth of peper. Plans for reorganization of the bank are under way, and it is generally believed that these will be successful, and that the doubtful paper will be properly secured, and the institution reopened. H. N. Johnson, cashier of the institution, resigned at a meeting of the E. stockholders, held last night. A. Wambem, a prominent farmer residing near Lankin, is the president of the institution, and other stocanolders are well fixed, financially, and there is little prospect of the depositors suffering any losses. The bank examiners began their investigation of the bank's affairs yesterday morning, and the doors of the institution were closed at that time No application for a receiver has been made, indicating that, up to this time, nothing has been found to warrant decision to permanently close the institution and its business affairs. The $12,000 worth of paper which the bank examiner refused to accept, it is understood, can be readily secured, in which event the reorganized company doubtless will be completed, and the institution reopened.

2. December 16, 1913 The Fargo Forum and Daily Republican Fargo, ND

Article from The Fargo Forum and Daily Republican, December 16, 1913

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Article Text

Bank Examiner S. G. Severtson may be compelled to ask for the appointment of a. receiver and the dissolution of the First State bank of Lankin, which he took charge of last week. Though stockholders have been making an effort to bring about the re-organization of the bank, four days' effort along that line has failed.

3. December 19, 1913 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, December 19, 1913

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Article Text

f osell milk and cream to private parties in the county from cows which have not been tested for tuberculosis Cando, N. D.-As a result of a meeting of business men with the city council, Cando is to have a "white way" in its chief business district. Mott, N. D.-Members of the American Society of Equity of this county will ask for the next national convention of the organization. Alexander, N. D.-Charged with threat ening to kill his sons, E. J. Collins is under arrest in this place Manning, N. D.-While she was preparing a dose of medicine, Mrs. Adelia H. Hacksteadt of Cadillac, Mich, was stricken with paralysis, falling to the floor and dying in a few minutes. She was visiting at the home of her son here. Glendive, Mont-Henry Steinmann, a bartender, is in jail on the charge of child desertion. Dickinson, N. D.-Williams is the name of the new postoffice twenty-four miles northwest of Dickinson on the extreme west edge of Dunn county. Milton, N. D.-Whide working about her home attending to her household duties, Mrs. John McCurdy fell to the noor, dying instantly, the cause being heart failure. Herman, N. D.-Olaf Alsburg, engineer of the Herman roller mills, was instantly killed yesterday afternoon by being thrown into the belt. Barnesville, Minn.-The fact that Frank Currey, a farm laborer, feigned unconsciousness saved him from being gored to death by an infuriated bull on the Frank Janneck farm. Currey was leading the animal into the barn when the beast turned upon him and drove him beneath a wagon and then into a haystack. Lankin, N. D.-The First State bank of Lankin will open its doors to the public agai today after a temporary suspension of about a week as the result of an investigation into the paper carried by the bak, conducted by K. C. Nelson, bank examiner. Livingston, Mont.-Fire destroyed the First State bank building occupied by the bank the A. W. Miles hardware store and offices of various kinds on the second floor and a third story used as a rooming house. The financial loss is $150,000. In Spain there has been invented a steel automobile wheel, with steel tires, which is said to have most of the advantages and none of the disadvantages of the rubber-tired wheel.

4. December 24, 1913 Bismarck Daily Tribune Bismarck, ND

Article from Bismarck Daily Tribune, December 24, 1913

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Article Text

LANKIN BANK REORGANIZED Park River, N. D., Dec. 23.-The First State Bank of Lankin opened its doors to the public again after a temporary suspension of about a week, as the result of an investigation into the paper carried by the bank, conducted by R. C. Nelson, bank examiner. The bank will have a capitalization of $10,000 with a surplus of that amount and some of the best known financ'ers in this section of the state have become identified with the institution. The list of officers elected is as follows: President, P. S Peterson, Grand Forks; vice president, E. A. Wambem Lankin; assistant cashiers K. P. Nappen and John Bena, Lankin.

5. January 2, 1914 The Bottineau Courant Bottineau, ND

Article from The Bottineau Courant, January 2, 1914

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Article Text

The First State bank of Lankin has re-opened its doors after a temporary suspension of a week pending the examin ation conducted by the state bank examiner.