17798. Bank of Wasta (Wasta, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1932*
Location
Wasta, South Dakota (44.069, -102.446)

Metadata

Model
gpt-5-mini
Short Digest
5fd4e639d00443dc

Response Measures

None

Description

Articles (July 1932) report the Bank of Wasta closed after discovery of fictitious collateral/forged notes by its former cashier; no contemporaneous run is described. Closure appears to be permanent (bank blamed on forgery; articles link to criminal charges). No explicit mention of a receiver or reopening in these clippings.

Events (3)
1. July 1, 1932* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of fictitious notes among the bank's collateral and alleged forgery by the former cashier, leading to the bank's closing.
Newspaper Excerpt
forgery...were sold Pennington County bank here before its closing... blamed for the closing of the Bank Wasta.
Source
newspapers
2. July 16, 1932 Other
Newspaper Excerpt
Warrants of arrest... were issued here this forenoon against formerly cashier of the Bank Wasta. Complaints signed by Fossum... Charge Forgery Of Three notes... blamed for bank closing here.
Source
newspapers
3. July 24, 1932 Other
Newspaper Excerpt
former cashier the Bank of Wasta, committed jail Saturday for circuit court action after waiving preliminary hearing... state banking department announced had found fictitious notes among collateral of the Pennington County bank here.
Source
newspapers

Newspaper Articles (2)
1. July 16, 1932 Rapid City Journal Rapid City, SD
Article from Rapid City Journal, July 16, 1932

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Article Text

WARRANTS Charge Forgery Of Three Notes Of $8,175; Blamed For Bank Closing Here. Warrants of arrest on three ditional charges forgery notes, totalling which were sold Pennington County bank here before its closing, were issued here this forenoon against formerly cashier of the Bank Wasta. Complaints signed by Fossum, Pierre, deputy superin-

2. July 24, 1932 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, July 24, 1932

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Article Text

Dakotan Unable to Get Bond on Forgery Count Rapid City, to furnish $25,000 bond covering three charges forgery, former cashier the Bank of Wasta, committed jail Saturday for circuit court action after waiving preliminary hearing Friday. Aos arrested after the state banking department announced had found fictitious notes among collateral of the Pennington County bank here. He was blamed for the closing of both banks and at liberty under bond forgery charge when were discovered the Pennington County bank. four notes specifimentioned total about Ruden, state banks, has said notes aggregating $100,000 had been exchanged to Pennington County bank for rediscounts.