20245. Farmers State Bank (Bancroft, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 30, 1930
Location
Bancroft, South Dakota (44.488, -97.750)

Metadata

Model
gpt-5-mini
Short Digest
f63d3f62

Response Measures

None

Description

No run is mentioned. The bank suspended on Dec 30, 1930 and remained closed under state banking department supervision; dividends to creditors were being paid in 1933, indicating liquidation/receivership rather than reopening.

Events (2)
1. December 30, 1930 Suspension
Cause
Government Action
Cause Details
Bank was closed and placed under supervision by the South Dakota banking department (state action).
Newspaper Excerpt
The bank suspended Dec. 30, 1930.
Source
newspapers
2. March 20, 1933 Receivership
Newspaper Excerpt
Payment of second dividend of five per cent or about $2,500 to creditors of the closed Farmers State bank of Bancroft was announced today by the South Dakota banking department. A 10 per cent dividend was paid previously. The bank suspended Dec. 30, 1930.
Source
newspapers

Newspaper Articles (2)
1. March 20, 1933 The Daily Plainsman Huron, SD
Article from The Daily Plainsman, March 20, 1933

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Article Text

SECOND DIVIDEND PIERRE, Mar. 20(P)-Payment of second dividend of five per cent or about $2,500 to creditors of the closed Farmers State bank of Bancroft was announced today by the South Dakota banking department. A 10 per cent dividend was paid previously. The bank suspended Dec. 30, 1930.

2. March 20, 1933 Rapid City Journal Rapid City, SD
Article from Rapid City Journal, March 20, 1933

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Article Text

PAY AT BANCROFT Pierre, second dividend about $2,500 creditors cent closed Farmers State bank Bancroft announced today the South Dakota banking cent dividend partment. per paid previously. The bank pended Dec. TALKS OF FISH Cheyenne, Wyo., Mar. he stepped from train into brisk Wyoming March weather, former President Herbert Hoover talked readily about fishing. would not discuss politics.