12617. Timmer State Bank (Timmer, ND)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 7, 1922
Location
Timmer, North Dakota (46.371, -101.018)

Metadata

Model
gpt-5-mini
Short Digest
32e0f7ad

Response Measures

None

Description

The Timmer State Bank was closed and placed in receivership in early 1922 (receiver C.F. Kellogg). No article describes a depositor run; the bank remained closed with receivers selling assets later in 1922. Petition filed by a stockholder states the bank 'closed Feb. 1, 1922.'

Events (3)

1. January 7, 1922 Receivership
Newspaper Excerpt
Timmer State Bank of Timmer. Kellogg was named receiver for the Bismarck district and will have headquarters in this city.
Source
newspapers
2. February 1, 1922 Suspension
Cause
Government Action
Cause Details
Closed and placed under a receiver by state banking authorities/State Banking Board actions
Newspaper Excerpt
The petition set out that the bank's capital stock was $10,000 when it closed Feb. 1, 1922
Source
newspapers
3. October 26, 1922 Other
Newspaper Excerpt
Timmer State Bank, Timmer, North Dakota. C. F. Kellogg, receiver, Bismarck. Sealed bids for the purchase of all the assets of the closed banks listed below will be received up to November 15, 1922
Source
newspapers

Newspaper Articles (6)

Article from The Bismarck Tribune, January 7, 1922

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Article Text

BANKS PUT UNDER KELLOGG'S CARE agast Banks in the Bismarck district, which will be in charge of Charles F. Kellogg, formerly of New Salem, recently of Fargo, are: People's State Bank of Leith, Farmers and Merchants Bank of Robinson, Citizens State Bank of Hazen, First State of Crystal Springs, Timmer State Bank of Timmer. Kellogg was named receiver for the Bismarck district and will have headquarters in this city.


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.)


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.


Article from Grand Forks Herald, November 2, 1922

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Article Text

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.)


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.)


Article from The Bismarck Tribune, November 16, 1922

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Article Text

COURT'SORDER HOLDSUPSALE OF ONE BANK Writ Issued by Judge Pugh Forbids Action Before Hearing on Timmer Bank ARE BIDS RECEIVED Guaranty Fund Commission Opens Bids for Purchase of Assets of Closed Bank An alternative writ issued by Dis. trict Judge Pugh in Mandan held up opening of bids by the Guaranty Fund Commission for the purchase of the \assets of the closed Timmer State bank of Timmer, Morton coustv. The state board had advertised it would receive bids for the purchase of assets of 19 of the "closed banks of the state vesterday. Hearing on the writ will be held Nov. 18 in Mandan. The petition was presented to Judge Pugh by Dominic Garhart, who said he was a stockholder in the bank, and was directed against the state banking board and C. R. Kellegg, district receiver. The petition set out that the banks capital stock was $10,000 when it closed Feb. 1, 1922, and that its assets agcregated $106,434.18 The petition averred that if a sale of assets were made on bids the amount realized would not be what it should be, setting out that among other assets the bank held some land in that vicinity on which little could be realized now. The petition further set out the belief that if the receivership were continued for a year of so the full amount of the liabilities could be realized upon. The Guaranty Fund Commission conpointive members opened the bids submitted for the purpose of assets of closed banks this morning, but as the members said the board merely acted in an advisory capacity for the state banking lbard and all/members of that board were not in the city, a list of the bids were not given out. It was stated that bids were not received on all of the 19 banks offered for sale but that more than one bid was received on some of them. Consideration of the bids was berun by the commission, and it was added that no recommendations had vet been agreed epon. It may be two or three days before consideration of the bids has proceeded to a point where definite recommendations on all of them will be made, it wa added. A telegram was received from J. F. T. O'Connor of Grand Forks and John Vallely, receiver for some of the banks in the Grand Forks district, advising against sale of the assets of the Peoples State Bank of Grand Forks, on the ground that the sale would occasion loss, and that within 2 year or so the bank perhaps could ray out. At least one bid was received for the assets of this bank.