First National Bank - Linton, ND

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 9590
Charter Number: 9590
Start Date: January 6, 1933
Location: Linton, North Dakota (46.267, -100.233)

Metadata

Model: gpt-5-mini
Short Digest: be39b70f

Response Measures

None

Description

Bank suspended for two weeks and then reopened after reorganization; no run reported. Depositors agreed to leave about 90% of deposits for three years with a 50% discount and bank planned large charge-offs of unsatisfactory paper, indicating bank-specific insolvency problems.

Events (4)

1. November 23, 1909 Chartered

Source: historical_nic

2. January 6, 1933 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Affairs reorganized; plan to eliminate unsatisfactory paper and charge off about 50% of assets; depositor agreements to leave deposits with 50% discount indicate solvency problems.
Newspaper Excerpt: re-opened Thursday morning following a twoweeks' suspension of business during which affairs of the bank were reorganized.
Source: newspapers

3. January 19, 1933 Reopening

Newspaper Excerpt: The First National Bank of Linton re-opened Thursday morning following a twoweeks' suspension of business during which affairs of the bank were reorganized.
Source: newspapers

4. January 20, 1933 Other

Newspaper Excerpt: Approximately 90 per cent of the depositors signed agreements which require deposits to be left in the bank for a period of three years and provide for a 50-per-cent discount on total deposits.
Source: newspapers

Newspaper Articles (1)

1. January 20, 1933 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, January 20, 1933

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Article Text

Linton Bank Again Open for Business Linton, N. D., Jan. 20.-The First National Bank of Linton re-opened Thursday morning following a twoweeks' suspension of business during which affairs of the bank were reorganized. Through cooperation of bank depositors and business men of Linton approximately 90 per cent of the depositors signed agreements which require deposits to be left in the bank for a period of three years and provide for a 50-per-cent discount on total deposits. Officers of the bank, together with a committee named by the depositors, composed of H. L. Petrie, Charles Coventry and Valentine Kremer are working on plans for eliminating unsatisfactory paper and for charging off about 50 per cent of the bank assets.