Estelline State Bank - Estelline, SD

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 89b3d259

Response Measures

None

Description

Article (1929) reports the Estelline State Bank 'suspended business' and was alleged insolvent at time of closing; lawsuit about deposits made while insolvent. No mention of a depositor run. OCR in article shows '1936' for suspension which conflicts with the 1929 publication date and is likely an OCR error; date of suspension not provided in text so left null.

Events (1)

1. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was alleged insolvent at time of closing; deposits claimed to have been made while bank insolvent leading to suit seeking recovery of funds
Newspaper Excerpt: when the Estelline State bank suspended business ... charged it was deposited when the bank was insolvent and had been for some time prior to its closing
Source: newspapers

Newspaper Articles (1)

1. March 28, 1929 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, March 28, 1929

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Article Text

Estelline Treasurer Freed of Responsibility B. Calef. former city treasurer of Estelline was relieved of responsibility for loss of $13.264 48, representing city funds when the Estelline State bank suspended business in 1936 by verdict 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 Calef 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 Mt. Vernon First National bank completely reorganized with Considering the fact that he was deposed as head of the Salvation Army because he was "physis cally unfit," General Bramwell Booth certainly did put up a pretty fit battle for his job Washington friends of Mrs. Coolidge gave her brooch in appreciation of her graciousness as First Lady. Bet the folks back in Northampton can hardly wait until they that.