Citizens Bank - Buffalo Gap, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 23, 1915
Location: Buffalo Gap, South Dakota (43.492, -103.313)

Metadata

Model: gpt-5-mini
Short Digest: afab1d38

Response Measures

None

Description

Article (Custer Weekly Chronicle, 1915-03-27) reports Citizens Bank 'closed its doors' and disposed of business to Buffalo Gap State Bank due to insufficient business. This is a voluntary sale/merger and permanent closure (taken over by another bank). No run is mentioned.

Events (1)

1. March 23, 1915 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed and sold its business/building to Buffalo Gap State Bank due to lack of enough business to make it a paying investment; transfer approved by deputy state bank examiner.
Newspaper Excerpt: The Citizens Bank closed its doors Tuesday having disposed of their business, building and fixtures to the Buffalo Gap State Bank.
Source: newspapers

Newspaper Articles (1)

1. March 27, 1915 Custer Weekly Chronicle Custer, SD

Article from Custer Weekly Chronicle, March 27, 1915

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Article Text

CLOSES OUT BUSINESS. The Citizens Bank closed its doors Tuesday having disposed of their business, building and fixtures to the Buffalo Gap State Bank. J. F. McEwen, Deputy State Bank Examiner, was here and approved the transfer, which thru the ability of J. W. Starbuck, and other officers of the closed bank, was made with little trouble for the financial interests it represented. Lack of enough business to make it a paying investment is the reason for its suspension. The Citizens bank was capitalized in 1909 during the big homestead rush, and at that time and up to a short time ago it transacted a profitable business. The Buffalo Gap State bank will move to their new quarters in a few days and having recently added $10,000 increase to their capital stock, will be able to take care of the increased business turned over by the Citizens bank. With the gradual development which is taking place in this section they will become bigger and better than ever. The retiring officials of the closed bank will be much missed by the public as they were efficient and accomodating and always ready to help out worthy home enterprises. The merging of the banks is better for the financial interests of this community and all will unite in supporting and having the benefit of one sound and financial institution.-Buffalo Gap Gazette.