Farmers State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1928*
Location: Page, North Dakota (47.160, -97.571)

Metadata

Model: gpt-5-mini
Short Digest: c1e7d7df

Response Measures

None

Description

Article states the bank 'closed in 1928' after injections of capital and removal of 'bad paper' in prior years, indicating bank-specific insolvency rather than a depositor run. No mention of a run; classify as suspension leading to permanent closure (suspension_closure). Date of closure given only as year.

Events (1)

1. January 1, 1928* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank received capital infusions in 1924 and 1927 to remove 'bad paper' and later closed in 1928, indicating insolvency/poor assets leading to suspension and closure.
Newspaper Excerpt: The bank closed in 1928.
Source: newspapers

Newspaper Articles (1)

1. December 18, 1931 The Forum Fargo, ND

Article from The Forum, December 18, 1931

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Article Text

Page Man Given $3,500 Verdict By Cass Jury Thompson Page farmer, was awarded verdict of 500 by Cass county district court jury Thursday in action brought by Thompson against J. Murphy, also of Page for recovery on note alleges he loaned Murphy $3,500 with which buy stock in the Farmers State bank of Page in 1922. Murphy admits the indebted ness on the note but has entered a counterclaim for the same amount on the grounds he and Thompson had a verbal agreement Thompson protect him against any losses he might as the result of the pur. of the stock Murphy claimed that in 1924 when the bank was he put $23,000 in the bank to increase the capital stock of the band and re. moved bad paper. He also claims that in 1927 he placed $4,000 more in the bank and removed more bad paper. The bank closed in 1928.