20278. Bank of Carlock (Carlock, SD)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 22, 1909
Location: Carlock, South Dakota (43.082, -99.435)

Metadata

Model: gpt-5-mini
Short Digest: a8ce4723

Response Measures

None

Description

Bank suspended Dec 22, 1909 due to inability to realize on past-due loans (bank-specific bad assets). The institution was reorganized and reopened in late January 1910 (article dated Jan 28, 1910 states it reopened 'on Wednesday' — resolved to 1910-01-26). No evidence of a depositor run prior to suspension; only a slight withdrawal on reopening day.

Events (2)

1. December 22, 1909 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Inability to realize upon past-due loans: out of $25,000 loans, $12,000 was past due.
Newspaper Excerpt: President Thomas of the Bank of Carlock, has notified the state bank examiner of the closing of the bank and it will pass through liquidation. Inability to realize upon past due paper is the cause assigned for the action.
Source: newspapers

2. January 26, 1910 Reopening

Newspaper Excerpt: The Bank of Carlock ... has been reorganized and reopened to business by one of the strongest banking combinations ... the bank reopened on Wednesday. On the first day there was a slight withdrawal of deposits, but on the second day the deposits had increased.
Source: newspapers

Newspaper Articles (5)

1. December 23, 1909 The Mitchell Capital Mitchell, SD

Article from The Mitchell Capital, December 23, 1909

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Article Text

BANK OF CARLOCK SUSPENDS OPERATIONS Gregory, S. D.. Dec. 22.-President Thomas of the Bank of Carlock, has notified the state bank examiner of the closing of the bank and it will pass through liquidation. Inability to realize upon past due paper is the cause assigned for the action. Out of a total of $25,000 loans, $12,000 is past due. The bank began business four years ago.

2. December 23, 1909 The Citizen-Republican Scotland, Parkston, SD

Article from The Citizen-Republican, December 23, 1909

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Article Text

BANK OF CARLOCK suspends OPERATIONS Gregory, S. D., Dec. 22.-President Thomas of the Bank of Carlock, has notified the state bank examiner of the closing of the bank and it will pass through liquidation. Inability to realize upon past due paper is the cause assigned for the action. Out of a total of $25,000 loans. $12,000 is past due. The bank began business four years ago.

3. December 30, 1909 The Citizen-Republican Scotland, Parkston, SD

Article from The Citizen-Republican, December 30, 1909

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Article Text

bank OF CARLOCK SUSPENDS OPERATIONS Gregory, S. D., Dec. 22.-President Thomas of the Bank of Carlock, has notified the state bank examiner of the closing of the bank and it will pass through liquidation. Inability to realize upon past due paper is the cause assigned for the action. Out of a total of $25,000 loans, $12,000 is past due. The bank began business four years ago.

4. January 7, 1910 Kingsbury County Independent Desmet, SD

Article from Kingsbury County Independent, January 7, 1910

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Article Text

BANK OF CARLOCK SUSPENDS OPERATIONS Gregory, S. D., Dec. 22.-President Thomas of the Bank of Carlock, has notified the state bank examiner of the closing of the bank and it will pass through liquidation. Inability to realize upon past due paper is the cause assigned for the action. Out of a total of $25,000 loans, $12,000 is past due. The bank began business four years ago.

5. January 28, 1910 The Norfolk Weekly News-Journal Norfolk, NE

Article from The Norfolk Weekly News-Journal, January 28, 1910

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Article Text

Bank of Carlock Is Open Again. The Bank of Carlock, at Carlock, S. D., which recently was forced to suspend because of a series of hard luck, has been reorganized and reopened to business by one of the strongest banking combinations of north Nebraska. J. D. Haskell of Wakefield is president, D. Mathewson of Norfolk vice president, C. D. Haskell of Gregory vice president and Harold Gow, son of Mr. and Mrs. C. C. Gow of Norfolk, cashier. C. C. Gow is one of the firm of Gow Bros., well known Norfolk loan men. Mr. Haskell passed through Norfolk at noon enroute to Wakefield from Carlock, where the bank reopened on Wednesday. On the first day there was a slight withdrawal of deposits, but on the second day the deposits had increased. Mr. Haskell was there four days. It is conceded that Carlock people may well regard themselves fortunate in getting behind the reorganization men of such standing as those who have taken charge of the institution.