Estelline State Bank - Estelline, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1926*
Location: Estelline, South Dakota (44.575, -96.902)

Metadata

Model: gpt-5-mini
Short Digest: e5905e86

Response Measures

None

Description

Newspaper articles report the Estelline State Bank suspended business in 1926 and was alleged insolvent at time of closing; by 1929 there was litigation over deposits. No contemporaneous run is mentioned. Classified as suspension leading to permanent closure.

Events (1)

1. January 1, 1926* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Articles state the bank suspended business in 1926 and plaintiffs alleged it was insolvent and had been for some time prior to its closing. No run or external shock is mentioned.
Newspaper Excerpt: Estelline State bank suspended business in 1926
Source: newspapers

Newspaper Articles (2)

1. March 28, 1929 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, March 28, 1929

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Article Text

CITY TREASURER FREED OF CHARGE Estelline Official Charged With Depositing Money When Bank Was Insolvent Watertown, March 28.-(AP)-A. B. Calef, Estelline, formerly city treasurer there, was relieved of responsibility for loss of $13,264 48 representing funds of Estelline when the Estelline State bank suspended business in 1926 as the result of a verdict returned by jury in circuit court at Hayti. Trial lasted seven days. Estelline brought suit to recover, charging money was deposited when the Estelline State bank was "insolvent and had been for some time prior to its closing.' also charged the defendant had of alleged insolvency at the time of taking deposits. The defense introduced testimony that the bank was solvent when deposits were made and if the bank was not solvent at the time of deposits, Calef did not know of such solvency and he acted in good faith.

2. March 28, 1929 The Daily Plainsman Huron, SD

Article from The Daily Plainsman, March 28, 1929

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Article Text

Treasurer Is Relieved As Bank Quits, Verdict WATERTOWN, Mar. B. Calef, former city treasurer of Estelline was relieved of responsibility for a loss of $13,264 48. representing city funds when the Estelline State bank suspended business in 1926 by a verdiet returned in circuit court at Hayti. The trial lasted seven days. Estelline brought suit to recover the money, charging it was deposited when the bank was "Insolvent and had been for some time prior to its closing.' It also charged that Caler had knowledge of the alleged Insolvency at the time of taking the deposits. The defense Introduced testimony that the bank was solvent when the deposits were made and contended that if the bank was not solvent at that time Calef did not know of such insolvency and acted in good faith.