Gregory National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9377
Charter Number: 9377
Start Date: October 31, 1925
Location: Gregory, South Dakota (43.234, -99.429)

Metadata

Model: gpt-5-mini
Short Digest: e86f0707

Response Measures

None

Receivership Details

Depositor recovery rate: 29.0%
Date receivership started: 1925-11-25
Date receivership terminated: 1935-12-28
OCC cause of failure: Economic conditions
Share of assets assessed as good: 54.2%
Share of assets assessed as doubtful: 42.1%
Share of assets assessed as worthless: 3.7%

Description

Article (1928) describes the Gregory National Bank having closed its doors and a receiver (Perry Peters) being involved. The text references October 1925 (October 31 and earlier October 16, 1925); I infer the bank closed on October 31, 1925. OCR errors in the article were corrected (e.g., GregNational bank -> Gregory National bank). No contemporaneous run is mentioned; the bank was closed and placed in receivership.

Events (4)

1. April 3, 1909 Chartered

Source: historical_nic

2. October 31, 1925 Receivership

Newspaper Excerpt: Sinclair Refining Company Sues Gregory Bank Receiver ... Perry Peters as receiver for the Greg[ory] National bank ... Gregory National bank closed its doors and taken ... Gregory National bank closed its doors and taken the overdraft ... was deposited ... Gregory National bank closed its doors and taken the overdraft ... Bailey and Voorhees ... are attorneys for the [plaintiff]. William Allen ... represents the defendant. (OCR-corrected excerpts).
Source: newspapers

3. October 31, 1925 Suspension

Cause: Government Action
Cause Details: Bank closed and a receiver (Perry Peters) was appointed; closure described in 1928 decision referencing October 1925 closure.
Newspaper Excerpt: on October 31, and on Gregory National bank closed its doors and taken the the overdraft in the Omaha bank
Source: newspapers

4. November 25, 1925 Receivership

Source: historical_nic

Newspaper Articles (1)

1. August 4, 1928 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, August 4, 1928

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Article Text

ELLIOTT DENIES PREFERRED Sinclair Refining Company Sues Gregory Bank Receiver Federal Judge D. Elliott today handed down decision in the case of the Sinclair Refining against Perry Peters as receiver for the GregNational bank which he disalclaim the company but allowed general refining asking plus protest On October 16, 1925, according to the the case, the plaintiff sold carload gasoline to the Wells company of Gregory and drew draft them and sent through the bank checks bank Butte, which Citizens National bank at Butte for draft in was issued the tional bank and was deposited in the Omaha National and the South Dakota bank this credit of on October was increased October 31, and on Gregory National bank closed its doors and taken the the overdraft in the Omaha bank being Bailey and Voorhees, Sioux Falls, and William Allen, are neys for the and Charles Dervis, Fairfax, represents the defendant.