Farmers State Bank - Canton, SD

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 13, 1932
Location: Canton, South Dakota (43.301, -96.593)

Metadata

Model: gpt-5-mini
Short Digest: 573d25a0

Response Measures

None

Description

Article (Argus-Leader, 1932-12-15) states Farmers State Bank in Canton 'suspended temporarily ... for the purpose of obtaining waivers on deposits' due to 'present financial conditions.' No run is mentioned and the language indicates a temporary suspension intended to resolve issues, so I classify as a suspension with likely reopening. Date given in paper is Thursday 1932-12-15 and the text says suspension occurred 'Tuesday' — I infer that to be 1932-12-13.

Events (1)

1. December 13, 1932 Suspension

Cause: Macro News
Cause Details: Suspended temporarily to obtain waivers on deposits because of 'present financial conditions' (systemic/financial distress).
Newspaper Excerpt: Canton. Farmers State bank here suspended temporarily Tuesday for the purpose of obtaining waivers on deposits. This action was found necessary due to present financial conditions.
Source: newspapers

Newspaper Articles (1)

1. December 15, 1932 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, December 15, 1932

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Article Text

CANTON BANK ON HOLIDAY Canton. Farmers State bank here suspended temporarily Tuesday for the purpose of obtaining waivers on deposits. This action was found necessary due to present financial conditions. Electric trains are to connect London. Brighton and Worthing, England.