12539. Citizens State Bank (Pingree, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1922
Location
Pingree, North Dakota (47.163, -98.907)

Metadata

Model
gpt-5-mini
Short Digest
31ba3749

Response Measures

None

Description

The Citizens State Bank of Pingree went into the hands of a receiver on Feb 1, 1922 and remained closed; receivership and subsequent sales of notes/assets are reported through 1922. No article describes a depositor run prior to suspension, and no reopening is reported.

Events (4)
1. February 1, 1922 Suspension
Cause Details
Articles state the bank went into receivership/closed but do not specify a triggering rumor, correspondent failure, or local shock.
Newspaper Excerpt
The Pingree bank went into the hands of a receiver February 1, 1922
Source
newspapers
2. February 4, 1922 Receivership
Newspaper Excerpt
Appointment of district receivers ... C. H. Reimers ... This district embraces the following closed banks: ... Citizens State Bank of Pingree.
Source
newspapers
3. September 15, 1922 Other
Newspaper Excerpt
Judge J. A. Coffey has granted an order for the sale at public auction Sept. 26 ... of certain promissory notes held by the Citizens State bank of Pingree ... The Pingree bank went into the hands of a receiver February 1, 1922. The paper to be sold represents loans and interest amounting to $20,000.
Source
newspapers
4. October 26, 1922 Other
Newspaper Excerpt
Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: ... Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington.
Source
newspapers

Newspaper Articles (9)
1. February 4, 1922 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 4, 1922

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Article Text

ALL DISTRICT RECEIVERS ARE NOW APPOINTED C. H. Reimers of Carrington is Named Head of New Rockford District Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Re.niers, of Carrington, as receiver for the New Rockford district. This district embraces the following closed banks: Security State of Courtenay, Security State of Brantford, Farmers State of Walum, Bank of New Rockford, Citizens State Bank of Pingree. /There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce ex penses and to obtain more efficient supervision of closed banks, according to members of the board. because a few receivers refused to resign - and obtained confirmation of their appointments by the courts. No change of receivers was made in some cases because there is said to be excellent prospect of the banks reopening. L. C. Vorbayda, of Lawton, and O. Eide, of Devils Lake, have been named deputy state examiners. Eide will be stationed at Jamestown.

2. February 4, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, February 4, 1922

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Article Text

Appointment Of Bank Receivers Completed Bismarck, N. D., Feb. ...Appointment of district receivers under which many closed banks are to be handled by a very few receivers was completed by the state banking board with the appointment of C. H. Reimers. of Carrington, as received for the New Rockford district. This districe embraces the following closed banks: Security State of Courtenay; Security State of Brantford; Farmers State of Walum; Bank of New Rockford; Citizens State bank of Pingree. There are a few banks which the banking board has not been able to include in its consolidation effort, which was undertaken to reduce expenses and to obtain more efficient supervision of closed banks, according to members of the board ,because a few receivers refused to resign and obtained confirmation of their appointment by the courts. No change of receivers was made in some cases because there is said to be excellent prospects of the banks reopening.

3. September 15, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, September 15, 1922

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Article Text

GRANTS ORDER FOR SALE OF NOTES BY BANK AT PINGREE Jamestown, N. D., Sept. 15.-Judge J. A. Coffey has granted an order for the sale at public auction Sept. 26, at Jamestown of certain promissory notes held by the Citizens State bank of Pingree as protection for loans made to the bank by the Northern National bank of Fargo and the Fergus Falls National bank of Fergus Falls. Minn. The order gives an extension of time for the payment of such notes until Dec. 1, 1923. The Pingree bank went into the hands of a receiver February 1, 1922, and the paper to be sold represents loans and interest amounting to $20,000. The request for this arrangement was made by the officers of the closed bank.

4. September 22, 1922 The Bowbells Tribune Bowbells, ND
Article from The Bowbells Tribune, September 22, 1922

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Article Text

SALE OF NOTE HELD BY PINGREE BANK ORDERED Jamestown, N. D., Sept. 21Judge J. A. Coffey has granted an order for the sale at public auction Sept. 26 at Jamestown, of certain promissory notes held by the Citizens State bank of Pingree as protection for loans made to the bank by the Northern National bank or Fargo and the Fergus Falls National bank of Fergus Falls, Minn. The order gives an extension of time for the payment of such notes until Dec. 1, 1923. The Pingree bank went into the hands of a receiver Feb. 1, 1922, and the paper to be sold represents loans and interest amounting to $20,000. The request for this arrangement was made by the officers of the closed bank.

5. October 26, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 26, 1922

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Article Text

LEGÁL NOTICES BANK ASSETS FOR SALE Sealed blds for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley, North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton, Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford, New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith, North Dakota. C. F. Kellogg, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bide should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

6. October 27, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, October 27, 1922

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Article Text

LEGAL NOTICES BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers. State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota, O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank; Leith. North Dakota. C.F. Kellogs, receiver, Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. CrocumState Bank, Crocus, North Dakota. Fred F Walz, receiver, Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen, receiver, Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kelfogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogs. receiver, Bismarck. Security State, Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. / Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal.

7. November 2, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 2, 1922

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TYPEWRITERS FOR SALE REBUILT MACHINES $30 AND UP; guaranteed for one year. Send for catalog. Russell E. Spear, Grand Forks. WANTED TO BUY. LATE MODEL FORD TOURING CAR wanted. Must be in good condition and reasonable. Phone 2551-J. WANT TO BUY - MEDIUM SIZE house at reasonable price. O. E. Fosse. Box 131. WANTED TO BUY-USED CAR. FORD sedan preferred. George Andrysak, Hannah, N. D. LEGAL NOTICES. BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett. receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen. receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks, First State Bank, Crystal Springs. North Dakota. H. B. Hanson, receiver. Crystal Springs. Bank of New Rockford. New Rockford. North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank. Leith. North Dakota. C. F. Kelloge, receiver. Bismarck. Peoples State Bank. Grand Forks, North Dakota. John Vallely. receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota, Fred F. Walz. receiver. Egeland Security State Bank, Courtenay. North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper North Dakota. D. L. Engen. receiver Fargo. Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Williston State Bank, Williston, North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank. Pingree. North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazon, North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford. North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal, Leal, North Dakota. C. I. Buslee, special deputy examiner. Leal. Peoples' State Bank, Hatton. North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer. North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community. all bids to be accompanied by certified check of one per cent/ of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

8. November 3, 1922 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, November 3, 1922

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Article Text

LEGAL NOTICE BANK ASSETS FOR SALE Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922: Farmers State Bank, Greene, North Dakota. W. E. Burgett, receiver, Flaxton. Citizens' State Bank, Edgeley. North Dakota. O. L. Engen, receiver, Fargo. State Bank of Milton. Milton, North Dakota. John Vallely, receiver, Grand Forks. First State Bank, Crystal Springs, North Dakota. H. B. Hanson, receiver, Crystal Springs. Bank of New Rockford. New Rockford, North Dakota. C. H. Reimers, receiver, Carrington. Peoples' State Bank, Leith. North Dakota. C. F. Kellogg. receiver. Bismarck. Peoples State Bank, Grand Forks, North Dakota. John Vallely, receiver, Grand Forks. Crocus State Bank, Crocus, North Dakota. Fred F. Walz, receiver. Egeland. Security State Bank, Courtenay, North Dakota. C. H. Reimers, receiver, Carrington. Prosper State Bank, Prosper. North Dakota. O. L. Engen. receiver, Fargo. Timmer State Bank, Timmer. North Dakota. C. F. Kellogg. receiver, Bismarck. Williston State Bank, Williston. North Dakota. G. R. Van Sickle, receiver, Minot. Citizens' State Bank, Pingree, North Dakota. C. H. Reimers, receiver, Carrington. Citizens' State Bank, Hazen. North Dakota. C. F. Kellogg, receiver, Bismarck. Security State Bank, Brantford, North Dakota. C. H. Reimers, receiver, Carrington. Bank of Leal. Leal, North Dakota. C. I. Buslee, special deputy examiner, Leal. Peoples' State Bank, Hatton, North Dakota. O. L. Engen, receiver, Fargo. Citizens' State Bank, Bathgate, North Dakota. John Vallely, receiver, Grand Forks. Sawyer State Bank, Sawyer, North Dakota. G. R. Van Sickle, receiver, Minot. Itemized lists of the assets are on file in the office of the state examiner at Bismarck, and with the receivers of the above banks. Bids should contain terms of payment and may include time certificates of deposit in going banks in the same community, all bids to be accompanied by certified check of one per cent of the amount of the bid. All bids should be addressed to Gilbert Semingson, state examiner, Bismarck, North Dakota, and the State Banking Board reserves the right to reject any and all bids. (Herald Oct. 26-27; Nov. 2-3.)

9. May 2, 1923 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, May 2, 1923

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LIABILITY RULE GIVEN 'Deposits in Bank Not OffSet for Depositors Stockholders in closed state banks may not escape double liability by off's-ting deposits they had in the bank when it closed, District Judge James E. Coffey decided in the case of C. H. Reimers, receiver for the Citizens State Bank of Pingree against C. H. Simpson. The case is typical of many other cases arising from closing of banks in the state, C. L. Young, attorney for the Guaranty Fund Commission and for Mr. Reimers in this case, said today. The receiver sought to collect $1,125.00, double liability, costs and interest. Mat. Simpson had certificates of deposit in the bank when it closed, and he claimed that these must be counted as an off-set to the stock liability. Another case of liability of bank stockholders, Mr. Young said, is pending before Judge Berry in the Stark district court. In this case Chas. F. Kellogg, receiver of the Citizens State Bank of Hazen, sought to compel J. A. Hollst to pay additional liability. Hollst, in a demurrer, argued that the additional ,liability could not be claimed where the examiner had not ordered an assessment, the demurrer being overruled and the case remaining in court for final trial.