Bank of Centerville - Centerville, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 9, 1896
Location: Centerville, South Dakota (43.119, -96.961)

Metadata

Model: gpt-5-mini
Short Digest: e0b2fc2f

Response Measures

None

Description

Article (Omaha Daily Bee, Sept 10, 1896) reports the Bank of Centerville as 'defunct' and 'in the hands of John Tumbull ... as receiver.' No mention of any depositor run; failure attributed to mismanagement and insolvent balances. Date taken from article dateline (Yankton, Sept. 9, 1896).

Events (2)

1. September 9, 1896 Receivership

Newspaper Excerpt: The affairs of the defunct Bank of Centerville, are in the hands of John Tumbull of that place, as receiver.
Source: newspapers

2. September 9, 1896 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed due to mismanagement; liabilities greatly exceed assets.
Newspaper Excerpt: The affairs of the defunct Bank of Centerville, are in the hands of John Tumbull of that place, as receiver.
Source: newspapers

Newspaper Articles (1)

1. September 10, 1896 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, September 10, 1896

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Article Text

Defunct Bank's Bad Balance. YANKTON, S. D., Sept. 9.-(Special.)The affairs of the defunct Bank of Centerville, are in the hands of John Tumbull of that place, as receiver. The liabilities, instead of being $4,000, as first stated, exceed $14,000. The bank's assets consist of some land and a good many small notes. The land is probably worth $5,000. The notes are considered of very little value. The failure of the bank is said to be due to mismanagement.