Dempster State Bank - Dempster, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Dempster, South Dakota (44.632, -96.952)

Metadata

Model: gpt-5-mini
Short Digest: bebee3a5

Response Measures

None

Description

Article (1925-04-15) refers to the 'closed Dempster State Bank' in litigation over deposits. No mention of a depositor run or reopening; indicates the bank is closed/failed. Cause of closure not explicitly stated in the excerpt, so coded as 'other'.

Events (1)

1. * Suspension

Cause Details: Article states the bank is closed and is involved in litigation over deposits; no explicit cause (e.g., insolvency, correspondent failure, or government action) is given in the excerpt provided.
Newspaper Excerpt: the closed Dempster State Bank
Source: newspapers

Newspaper Articles (1)

1. April 15, 1925 The Daily Deadwood Pioneer-Times Deadwood, SD

Article from The Daily Deadwood Pioneer-Times, April 15, 1925

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Article Text

ARE SUED FOR' IN CLOSED BANKS PIERRE, April bonding department one defendents in suits started today for the and school district funds bank. Sherin, treasurer Hamlin county, and the state bonddepartment and he Federal Surety his bondsmen, sued for represented alleged excess deposits in two failHamlin county banks and checks held by the county treasuroffice against failed alleged that Sherin, who finished his term county treasurer January 12, had deposit the closed Hamlin County State Bank Hayti excess law; the closed Dempster State Bank claimed he had of the legal limit. He also on failed banks for The bonding department and the Federal Surety appear on Sherins bond for each. Joseph Mock, treasurer of the Idependent school district Marshall together with state bonding department, sued for representing funds of the district deposited Citizens State Bank Newark, bank has This involves conflicting state governing the personal liability district treasurer for funds under his the conduct of his office Mr. Mock, the hold him responthe district funds closed bank. The surety for Mr. Mock to the amount