12497. State Guaranty Bank (Mott, ND)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 1, 1927*
Location
Mott, North Dakota (46.373, -102.327)

Metadata

Model
gpt-5-mini
Short Digest
980b4d2f

Response Measures

Full suspension

Description

Articles (Jan 10, 1929) state the State Guaranty Bank of Mott was closed by a scare run about two years ago and remains closed in liquidation paying dividends to depositors. Approximate date for the run/closure is 1927 (about two years ago). No reopening is reported; bank is in liquidation paying dividends.

Events (3)
1. January 1, 1927* Run
Cause
Rumor Or Misinformation
Cause Details
Described as a scare run that caused heavy withdrawals and closure about two years before Jan 1929.
Newspaper Excerpt
was closed by a scare run about two years ago.
Source
newspapers
2. January 1, 1927* Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed following the scare run; subsequently remained closed and entered liquidation with dividends being paid to depositors in 1929.
Newspaper Excerpt
closed State Guaranty Bank of Mott ... was closed by a scare run about two years ago.
Source
newspapers
3. January 10, 1929 Other
Newspaper Excerpt
A 20 per cent dividend will be paid to depositors of the closed State Guaranty Bank of Mott ... A 40 per cent dividend was paid about a year ago to depositors of the bank. Sixty per cent is the largest amount paid in dividends to date on any closed state bank in North Dakota and reflects a healthy condition in the assets of this bank ... Further dividends will be paid later when slower assets can be liquidated. George J. Helming, former cashier, has been in charge of collections.
Source
newspapers

Newspaper Articles (2)
1. January 10, 1929 Morning Pioneer Mandan, ND
Article from Morning Pioneer, January 10, 1929

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Article Text

MOTT BANK WILL PAY ANOTHER TWENTY PERCENT Mott, (Special largest total by any closed bank today credited to the closed North declared State Guaranty bank of Mott which per cent dividend through the state bank this week dividend of 40 cent was depositors in the last The total of 60 the largest made by any closed per cent bank dividends paid in successive years financial condition experts point out The Mott bank closed years ago a result of Further the dividends will be paid with liquidation assets still former cashier George Helming has been in charge of collecand has had excellent success settlements, reports indicate.

2. January 10, 1929 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, January 10, 1929

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Article Text

CLOSED MOTT BANK PAYING DEPOSITORS (Special to the Tribune) Mott, N. Dak., Jan. 10.-A 20 per cent dividend will be paid to depositors of the closed State Guaranty Bank of Mott as soon as checks can be prepared, it was announced today by the state bank examiner. A 40 per cent dividend was paid about a year ago to depositors of the bank. Sixty per cent is the largest amount paid in dividends to date on any closed state bank in North Dakota and reflects a healthy condition in the assets of this bank which was closed by a scare run about two years ago. Further dividends will be paid later when slower assets can be liquidated. it is said. George J. Helming, former cashier, has been in charge of collections.