12554. Farmers State Bank (Regan, ND)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 14, 1923
Location: Regan, North Dakota (47.158, -100.528)

Metadata

Model: gpt-5-mini
Short Digest: a86362c3

Response Measures

None

Description

No article describes a depositor run. The bank was closed (closed Dec 14, 1923), placed in receivership (receiver L.R. Baird), and remained insolvent with receivers' notices and foreclosure sales through 1925. Attempts to reopen were discussed but bank remained in receivership and did not resume normal operations.

Events (5)

1. December 14, 1923 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent; officers allegedly received deposits while bank was insolvent and insolvency led to closure.
Newspaper Excerpt: closed on December 14th, 1923, and having since been in hands of the General receiver
Source: newspapers

2. February 5, 1924 Receivership

Newspaper Excerpt: In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. ... L. R. BAIRD, Receiver, First publication on, 5th day of February, 1924.
Source: newspapers

3. December 6, 1924 Other

Newspaper Excerpt: an effort is being made to reopen the bank...the stockholders and depositors formed an association and appointed a committee to take steps to reopen the bank; charges against O. R. Vold ... dismissed by States Attorney E. S. Allen
Source: newspapers

4. March 4, 1925 Other

Newspaper Excerpt: WHEREAS, the Farmers State Bank of Regan, North Dakota, is desirous of reopening the bank which was closed on December 14th, 1923, and having since been in hands of the General receiver... Burleigh County has on deposit in said Farmers State Bank ... $5,000.00 (contract to enable bank to reopen under State Guaranty Fund Commission).
Source: newspapers

5. June 9, 1925 Other

Newspaper Excerpt: FARMERS STATE BANK, REGAN, NORTH DAKOTA, By L. R. BAIRD. Receiver, Mortgagee. NOTICE OF MORTGAGE FORECLOSURE SALE ... at the hour of two o'clock in the afternoon on the 17th day of July, A. D. 1925.
Source: newspapers

Newspaper Articles (11)

1. February 5, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, February 5, 1924

Click image to open full size in new tab

Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary youchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not SO filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated February 5th. 1924. L. R. BAIRD, Receiver, First publication on, 5th day of February, 1924." 2-5-12-19-26

2. February 12, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, February 12, 1924

Click image to open full size in new tab

Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to créditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not so filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated February 5th, 1924. L. R. BAIRD, Receiver. First publication on 5th day of February, 1924." 2-5-12-19-26

3. February 19, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, February 19, 1924

Click image to open full size in new tab

Article Text

4. February 26, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, February 26, 1924

Click image to open full size in new tab

Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said/claims are hot so filed, they will be barred from any participation in any dividends which may be paid by the Receiver 'from the assets of said insolvent bank. Dated February 5th, 1924. D R BAIRD, Receiver. First publication on 5th day of February, 1924." 2-5-12-19-26

5. December 6, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, December 6, 1924

Click image to open full size in new tab

Article Text

EFFORT BEING MADE TO OPEN BANK AT REGAN Charges Against O. R. Vold Dismissed - Explanation Filed by E. S. Allen The case against O. R. Vold, formerly an officer of the defunct Farmers tSate Bank of Regan, in which a charge of receiving deposits in an insolvent bank had been made, has been dismissed in district court by States Attorney E. S. Allen. Mr. Vold said today that an effort is being made to reopen the bank. The states attorney filed written reasons for dismissal. of the case, saying in part: "I am of the opinion that in this case it is doubtful if a conviction could be had, the facts would show that the defendant was irregular in his methods as an officer of the Farmers State Bank of Regan, and received deposits at a time when the bank, was in my opinion, insolvent, that is, such insolvency as is so defined by the code, but it would be very difficult to show that the defendant has actual knowledge of actual bankruptcy and insolvency, that is, that the assets were not equal to the liabilities, and the deposits were received by the defendant not for his own use but in a desperate effort to keep the bank open. The stockholders and depositors formed an association and appointed a committee to take steps to reopen the bank and to confer with the defendant and see if a settlement could be made with him, and at this time I am informed by the said committee that a satisfactory settlement has been made by them with the defendant and that in all probability the bank will reopen at a comparatively early date, and that they are willing that this action should be dismissed, the complaint in the justice court for the arrest of the defendant having been made under instructions of the said committee. This settlement and request for dismissal was done with the approval of the state examiner and the receiver of said bank, and they have informed me that I would be justified, under the circumstances, in asking for a dismissal of the said action against the defendant."

6. March 16, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, March 16, 1925

Click image to open full size in new tab

Article Text

nier, and Patterson. Moved by Commissioner Soder, seconded by Commissioner Swanson, that, WHEREAS, the Farmers State Bank of Regan, North Dakota, is desirous of reopening the bank which was closed on December 14th, 1923, and having since been in hands of the General receiver, and WHEREAS, Burleigh County has on deposit in said Farmers State Bank of Regan, North Dakota, the sum of $5,000.00, and WHEREAS, a request is now made of this board that the County enter into a contract, with said Farmers State Bank of Regan, North Dakota, wherein the said bank will repay the County in the following manner Ten per cent in two years, twenty per cent in three years, thirty per cent in four years and the remaining forty per cent in five years from the date of the reopening of the bank, and that such contract is being entered into to enable the bank to reopen under the requirements of the State Guaranty Fund Commission. BE IT THEREFORE RESOLVED, That this board authorize the County Treasurer to sign such a contract in behalf of Burleigh County with the understanding, that if the bank does not open again, this contract shall be without effect. BE IT FURTHER RESOLVED, That the State's Attorney be required to draw an instrument in writing for the purpose of being signed by the bondsmen, and wherein the bondsmen will approve of such contract entered into, and wherein the bondsmen now on the bonds will continue on the bond to the County. Same being in accordance with the Attorney General's opinion dated April 22nd, 1924. When proper approval of the proper instrument signed by the bondsman has been approved and accepted by this board this resolution shall be in effect. Roll call Commissioner Soder, aye; Commissioner Moynier, aye; Commissioner Backman, aye; Commissioner Swanson, aye; Commissioner Patterson, No. Afternoon March 4th, 1925 The Board of County Commissioners reconvened with the following members present: Commissioners Soder, Backman, Moynier, and Swanson,

7. June 9, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, June 9, 1925

Click image to open full size in new tab

Article Text

($3526.43) and the costs and expenses of foreclosure and sale. Dated this 9th day of June, A. D. 1925. FARMERS STATE BANK, REGAN, NORTH DAKOTA, By L. R. BAIRD. Receiver, Mortgagee. ZUGER & TILLOTSON, Attorneys for Mortgagee, Bismarek, North Dakota. 6-9-16-23-30-7-7-14

8. June 16, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, June 16, 1925

Click image to open full size in new tab

Article Text

NOTICE OF MORTGAGE FORECLOSURE SALE Notice is hereby given that that certain mortgage executed and delivered by Will Banik, a single man, Mortgagor, to Farmers State Bank, Regan, North Dakota, Mortgagee, dated the 23rd day of October, A. D. 1920, and filed for record in the office of the Register of Deeds of the County of Burleigh and State of North Dakota, on the 20th day of May, A. D. 1921, and duly recorded in Book 162 of Mortgages, at page 570. will be foreclosed by a sale of the premises in such mortgage and hereinafter described, at the front door of the Court House, in the City of Bismarek, County of Burleigh and State of North Dakota, at the hour of two o'clock in the afternoon on the 17th day of July, A. D. 1925, to satisfy the amount due upon such mortgage on the date of sale. The premises described in such mortgage and which will be sold to satisfy the same are described as follows, towit: The Southeast Quarter (SE1/4) and the Southeast Quarter of the Northwest Quarter (SE½) of Section Twenty-three (23) in Township One Hundred Fortythree (143), North of Range Seventy eight (78), West of the Fifth Principal Meridian, in the County of Burleigh and State of North Dakota. There will be due on such mortgage at the date of sale the sum of Three Thousand Five Hunred Twenty-six Dollars and Forty-three Cents ($3526.43) and the costs and expenses of foreclosure and sale. Dated this 9th day of June, A. D. 1925. FARMERS STATE BANK, REGAN, NORTH DAKOTA, By L. R. BAIRD. Receiver, Mortgagee. ZUGER & TILLOTSON, Attorneys for Mortgagee, Bismarck, North Dakota. 6-9-16-23-30-7-7-14

9. June 23, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, June 23, 1925

Click image to open full size in new tab

Article Text

NOTICE OF MORTGAGE FORECLOSURE SALE Notice is hereby given that that certain mortgage executed and delivered by Will Banik, a single man, Mortgagor, to Farmers State Bank, Regan, North Dakota, Mortgagee, dated the 23rd day of October, A. D. 1920, and filed for record in the office of the Register of Deeds of the County of Burleigh and State of North Dakota, on the 20th day of May, A. D. 1921, and duly recorded in Book 162 of Mortgages, at page 570, will be foreclosed by a sale of the premises in such mortgage and hereinafter described, at the front door of the Court House, in the City of Bismarck, County of Burleigh and State of North Dakota, at the hour of two o'clock in the afternoon on the 17th day of July, A. D. 1925, to satisfy the amount due upon such mortgage on the date of sale. The premises described in such mortgage and which will be sold to satisfy the same are described as follows, towit: The Southeast Quarter (SE%) and the Southeast Quarter of the Northwest Quarter (SE%) of Section Twenty-three (23) in Township One Hundred Fortythree (143), North of Range Seventy eight (73), West of the Fifth Principal Meridian. in the County of Burleigh and State of North Dakota. There will be due on such mortgage at the date of sale the sum of Three Thousand Five Hunred Twenty-six Dollars and Forty-three Cents ($3526.43) and the costs and expenses of foreclosure and sale. Dated this 9th day of June, A. D. 1925. FARMERS STATE BANK, REGAN, NORTH DAKOTA, By, L. R. BAIRD, Receiver, Mortgagee. ZUGER & TILLOTSON, Attorneys for Mortgagee, Bismarck, North Dakota. 6-9-16-23-30-7-7-14

10. July 7, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, July 7, 1925

Click image to open full size in new tab

Article Text

NOTICE OF MORTGAGE FORECLOSURE SALE Notice is hereby given that that certain mortgage executed and delivered by Will Banik, a single man, Mortgagor, to Farmers State Bank, Regan, North Dakota, Mortgagee, dated the 23rd day of October, A. D. 1920, and filed for record in the office of the Register of Deeds of the County of Burleigh and State of North Dakota, on the 20th day of May. A. D. 1921, and duly recorded in Book 162 of Mortgages, at page 570. will be foreclosed by a sale of the premises in such mortgage and hereinafter described, at the front door of the Court House, in the City of Bismarck, County of Burleigh and State of North Dakota, at the hour of two o'clock in the afternoon on the 17th day of July, A. D. 1925, to satisfy the amount due upon such mortgage on the date of sale. The premises described in such mortgage and which will be sold to satisfy the same are described as follows, towit: , The Southeast Quarter (SE%) and the Southeast Quarter of the Northwest Quarter (SE%) of Section Twenty-three (23) in Township One Hundred Forty. three (143), North of Range Seventy eight (78), West of the Fifth Principal Meridian, in the County of Burleigh and State of North Dakota. There will be due on such mortgage at the date of sale the sum of Three Thousand Five Hunred Twenty-six Dollars and Forty-three Cents ($3526.43) and the costs and expenses of foreclosure and sale. Dated this 9th day of June, A. D. 1925. FARMERS STATE BANK, REGAN, NORTH DAKOTA, By L. R. BAIRD. Receiver, Mortgagee. ZUGER & TILLOTSON, Attorneys for Mortgagee, Bismarck, North Dakota. 6-9-16-23-30-7-7-14

11. October 28, 1925 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, October 28, 1925

Click image to open full size in new tab

Article Text

Open Eyentags. Three red cows, ranging in age from 6 to 10 years old. On black calf, heifer, age 8 months. One roan calf, steer, age 8 months. One roan red calf, heifer, age 8 months. Two red heifer calves, age 8 months. One red calf, age 8 months. Machinery One 14-inch gang plow, P. & O. One 5-ft. McCormick mower. One 10-ft. Kentucky double disc drill. One 10 ft. Oliver Tandem engine disc. One McCormick hay rake. One P. & O. Wagon complete with triple box. One Universal wagon. One 5-section wooden drag. Two sets work harness. One bull rake. One Ford Sedan, complete. One 15-27 Case tractor, complete. Dated at Bismarek, North Dakota, this 26th day of October, 1925. L. R. BAIRD, Receiver of Farmers' State Bank of Regan, North Dakota, Mortgagee, By E.T. MYHRE, Agent, Bismarek, N. Dak. 10-28-1t