First State Bank - Velva, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 17, 1931
Location: Velva, North Dakota (48.056, -100.929)

Metadata

Model: gpt-5-mini
Short Digest: c9f92ef7

Response Measures

None

Description

Article (July 17, 1931) states the First State Bank of Velva is closed and a receiver (L.R. Baird) is paying a first dividend to creditors. No mention of a depositor run; bank is in receivership and paying dividends, indicating permanent closure.

Events (2)

1. July 17, 1931 Receivership

Newspaper Excerpt: a first dividend of 10 per cent is being paid creditors of the closed First State Bank of Velva, N. D., it was announced Friday by L. R. Baird, receiver of closed banks. Payment is being made through the office of G. R. VanSickle, Minot, district manager.
Source: newspapers

2. * Suspension

Cause Details: Article does not state reason for closure or suspension; only that the bank is closed and in receivership.
Newspaper Excerpt: closed First State Bank of Velva, N. D.
Source: newspapers

Newspaper Articles (1)

1. July 17, 1931 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, July 17, 1931

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Article Text

Depositors at Velva Receiving Dividends A first dividend of 10 per cent is being paid creditors of the closed First State Bank of Velva, N. D., it was announced Friday by L. R. Baird, receiver of closed banks. Payment is being made through the office of G. R. VanSickle, Minot, district manager.