17696. Dakota State Bank (Madison, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 2, 1933
Location
Madison, South Dakota (44.006, -97.114)

Metadata

Model
gpt-5-mini
Short Digest
10832b284857abd5

Response Measures

None

Description

Articles report the Dakota State Bank in Madison as a closed bank with a receiver appointed (July 1933) and a successor receiver named in Dec 1934. No newspaper text describes any depositor run; the bank was closed and placed in receivership, consistent with suspension followed by permanent closure.

Events (3)
1. July 2, 1933 Receivership
Newspaper Excerpt
BANK RECEIVER NAMED Madison Bud Rensch of Ramona has received his appointment as receiver for the Dakota State Bank... receiver will consist of closing the accounts in these banks.
Source
newspapers
2. July 2, 1933 Suspension
Cause Details
Article states the bank is closed and a receiver appointed but gives no specific cause (insolvency/failure implied).
Newspaper Excerpt
BANK RECEIVER NAMED Madison Bud Rensch of Ramona has received his appointment as receiver for the Dakota State Bank... the 13 other closed banks in this territory which are being administered from the Madison office of receiver
Source
newspapers
3. December 11, 1934 Other
Newspaper Excerpt
NEW BANK RECEIVER Madison. Jacobsen. Watertown bank receiver. will come here January to become receiver of the Dakota State bank and number of other closed banks in this vicinity He will succeed H. W. Hinricks, who recently came here from Hot
Source
newspapers

Newspaper Articles (2)
1. July 2, 1933 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, July 2, 1933

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Article Text

P.O. RECEIPTS HERE SHOW GAIN FOR JUNE Postal receipts for June showed an increase of 15.06 percent over the same month year ago, was announced Saturday by Postmaster C. Seals. The for June totaled this year, as compared with $23,150.54 for that month in 1932. This is the second consecutive month in which local postal receipts showed gain. BANK RECEIVER NAMED Madison "Bud" Rensch of Ramona has received his appointment as receiver for the Dakota State Bank, Harold McKinnon, it was announced Saturday. An is now being undertaken in each of the 13 other closed banks in this territory which are being administered from the Madison office of receiver will consist of closing the accounts in these banks. Mr. Rensch was former salesman has been farming the past year.

2. December 11, 1934 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, December 11, 1934

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Article Text

NEW BANK RECEIVER Madison. Jacobsen. Watertown bank receiver. will come here January to become receiver of the Dakota State bank and number of other closed banks in this vicinity He will succeed H. W. Hinricks, who recently came here from Hot