17796. Wallace State Bank (Wallace, SD)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
August 1, 1931*
Location
Wallace, South Dakota (45.086, -97.476)

Metadata

Model
gpt-5-mini
Short Digest
f6774ba2bf8c3259

Response Measures

None

Description

Articles state the Wallace State Bank (Codington County) suspended in August 1931 and is described as 'closed' and paying a dividend to creditors March 1, 1932. No run is mentioned; the bank appears to have suspended and remained closed under liquidation/receivership.

Events (3)

1. August 1, 1931* Suspension
Cause Details
Article does not specify a cause for the suspension; only gives date (Aug. 1931) that the bank suspended/closed.
Newspaper Excerpt
The bank suspendAug. 1931.
Source
newspapers
2. March 1, 1932 Other
Newspaper Excerpt
PAY DIVIDEND PIERRE March first dividend of ... being paid creditors the closWallace State bank Wallace, Codington county, the state banking depart reported today. The bank ... dividend of 10 per cent, amounting to about being paid creditors of the closed Wallace State Bank ... The bank suspendAug. 1931. (OCR fragments consolidated).
Source
newspapers
3. March 1, 1932 Receivership
Newspaper Excerpt
being paid creditors of the closed Wallace State Bank of Codington county, the state department reported (dividend paid March 1, 1932).
Source
newspapers

Newspaper Articles (2)

Article from The Daily Plainsman, March 8, 1932

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Article Text

PAY DIVIDEND PIERRE March first dividend of per cent amounting to about being paid creditors the closWallace State bank Wallace, Codington county, the state banking departreported today. The bank suspendAug.


Article from Rapid City Journal, March 8, 1932

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Article Text

PAY DIVIDEND dividend of 10 per cent, amounting to about being itors of the closed Wallace State Bank of Codington counthe state department reported The bank suspendAug. 1931.