Fort Pierre Bank - Fort Pierre, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1923*
Location: Fort Pierre, South Dakota (44.354, -100.374)

Metadata

Model: gpt-5-mini
Short Digest: 0c676db7

Response Measures

None

Description

Article states the Fort Pierre bank closed in March, 1923. The closure is tied to the bankruptcy/insolvency of W. Ewert who apparently conveyed assets and left the bank with bad loans/notes; a national bank receiver is mentioned as a petitioner, indicating receivership related to the closure. No explicit run or depositor panic is described.

Events (2)

1. March 1, 1923* Receivership

Newspaper Excerpt: The national bank receiver is one of the petitioners ... This bank closed in March, 1923.
Source: newspapers

2. March 1, 1923* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed after insolvency/credit problems tied to W. Ewert's questionable transfers and bad notes; closure appears due to bank-specific insolvency revealed in bankruptcy petition.
Newspaper Excerpt: This bank closed in March, 1923.
Source: newspapers

Newspaper Articles (1)

1. March 23, 1925 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, March 23, 1925

Click image to open full size in new tab

Article Text

PETITIONERS AVER EWERT FAVORED SOME CREDITORS Bankruptcy Action States He Gave Property to Wife, Delivered Mortgages Conveying property to certain creditors January and without sufficient consideration, thereby defrauding other creditors, charged in the bankruptcy petition filed against W. Ewert in federal court late Sat urday. The involuntary petition was brought C. Fiman, as in charge the closed Bank of Commerce of which Ewert is Fred Smith, as of banks; Hughes which had funds in Ewert's bank and held his bond Peter Griffen, who charges personal debts of $75. The national bank receiver is one of the petitioners on of four notes given without security by Ewert, April 11, 1924, which charged there now due $10,847.49. The intendent banks interest acocunt of for $2,500 given the Stock bank Fort Pierre This bank closed in March, 1923. charged Ewert as 3,000 shares of stock in the Idol curity Island Oil company, of no value, nine shares of National Bank of Commerce, no value, and five shares of First State bank Onida, value. charged there the closed Fort Pierre the Ewert also declared liable on note for $1,137 given the Dakota Motor company the Fort Pierre bank and not fully paid, endorsed by Ewert. The county of Hughes declared reason of action of its county to protect the county deposit in the National Bank of Commerce, stated the deposit February was while EW bond was The first of charged his wife two lots the city of Pierre, with intent to de fraud creditors. It is also charged that the consideration in transfer about quarters land his father. Edward Ewert, indicated fraud to creditors. The mortgage to the Union National Minn., on quarter section, without consideration except security an indebtedness the bank of $6,000; the First State bank mortgage Onida payment of notes for and mortgage to the First Onida to note; Thomas to secure mortgage to note chattel for $1,485 due in February, 1926; 400 head of cattle to mortgage cure indebtedness to four different individuals; and mortgage 376 head cattle and certain $7,000 note Wilson, of Woodbury la. The petition is brought the view rural March credits stated, which promised to give the petition the same port as the state were one of the petitioners.