First State Bank - Elkton, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 6, 1924
Location: Elkton, South Dakota (44.236, -96.481)

Metadata

Model: gpt-5-mini
Short Digest: fd8c6a18

Response Measures

None

Description

Article states the First State Bank of Elkton closed (suspended) April 6, 1924 and depositors are receiving a third dividend in 1929 (total 25%). No run is mentioned; the bank appears to have remained closed with liquidating distributions to depositors.

Events (2)

1. April 6, 1924 Suspension

Cause Details: Article only states the bank closed/suspended on April 6, 1924; no cause given.
Newspaper Excerpt: Depositors of the First State bank at the time of its closing April 6. 1924, will soon receive a payment of 5 per cent of their deposit.
Source: newspapers

2. June 10, 1929 Other

Newspaper Excerpt: Depositors of the First State bank ... will soon receive a payment of 5 per cent of their deposit. This is the third payment since the bank suspended and makes a total of 25 per cent.
Source: newspapers

Newspaper Articles (1)

1. June 10, 1929 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, June 10, 1929

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Article Text

Depositors of Elkton Bank To Receive Third Dividend (Special to the Argus-Leader) Elkton, June 10. -Depositors of the First State bank at the time of its closing April 6. 1924, will soon receive a payment of 5 per cent of their deposit. This is the third payment since the bank suspended and makes a total of 25 per cent.