20289. Whitbeck National Bank (Chamberlain, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9301
Charter Number
9301
Start Date
June 3, 1927
Location
Chamberlain, South Dakota (43.811, -99.331)

Metadata

Model
gpt-5-mini
Short Digest
7cc91da3

Response Measures

None

Receivership Details

Depositor recovery rate
6.4%
Date receivership started
1926-07-14
Date receivership terminated
1931-02-05
OCC cause of failure
Governance
Share of assets assessed as good
29.3%
Share of assets assessed as doubtful
41.2%
Share of assets assessed as worthless
29.6%

Description

Newspapers from June 1927 describe the Whitbeck National Bank as 'defunct' and report that a federal bank receiver (Paul Rewman) was appointed to succeed the prior receiver. No article mentions a depositor run; the bank appears closed with a receiver assigned, so classification is suspension_closure.

Events (3)

1. December 31, 1908 Chartered
Source
historical_nic
2. July 14, 1926 Receivership
Source
historical_nic
3. June 3, 1927 Receivership
Newspaper Excerpt
Word received yesterday Paul Rewman, of this city, announchis for the defunct Whitbeck National bank Chamberlain, to succeed M. Henry ... Rewman has been instructed report for duty Chamberlain Monday and will leave this city within few days.
Source
newspapers

Newspaper Articles (2)

Article from The Daily Deadwood Pioneer-Times, June 3, 1927

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Article Text

Local Man Appointed Federal Bank Receiver Word received yesterday Paul Rewman, of this city, announchis for the defunct Whitbeck National bank Chamberlain, to succeed M. Henry who been appointed the Federal Vocational Board Washington. Rewman has been instructed report for duty Chamberlain Monday and will leave this city within few days. made Currency. W. McIntosh, Washington,


Article from The Sioux City Journal, June 7, 1927

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Article Text

BRANCH MANAGER SENT TO PRISON FOR Sioux Falls, June Pleading Fred one the state penitentiary Falls by Judge John Medin in circuit court. was in charge of branch office Falls mercantile company, which detected him in shortage in his accounts. Hamline mitted having embezzled about $500 from the company. Bank Receiver Appointed. Deadwood, June this city, been appointed receiver the defunct Whitbeck National bank at Chamberlain, succeed M. Henry, has been appointed the federal vocational board Washington, according instructions received by Mr. Rew man ordering him to report at that place. Telephone Business Sold. Worthing, June Innes, Sloan, purchased the telephone business of Electric company, ready taken has purchased the Lennox telephone exchange. Gerber, has been manager of company for 24 years, since its organization, will be retained. Town Without General Store. Blaha, Blaha, which an Interior village Bon Homme county, without eral merchandise store, Ralph Vellek, conducted store some time, has turned stock over Jaton George will engage in farming. Store Partnership Dissolved. Dell Rapids, The firm Winjum Torgeson, which 11 years general in Dell Rapids, has dissolved, the Ben Mrs. her husband in conducting the business. Two Veterans Pass Away. Hot Springs, June of Recluse, veteran of the world war, and John