Bank of Hermosa - Hermosa, SD

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 30, 1932
Location: Hermosa, South Dakota (43.840, -103.191)

Metadata

Model: gpt-5-mini
Short Digest: 67bce3a1

Response Measures

None

Description

Article (Deadwood Pioneer-Times, 1932-08-05) says the bank opened after a six-day holiday to work out plans and that depositors signed five-year time certificates. The holiday is treated here as a temporary suspension; the action followed the failure of a nearby Pennington County bank (Rapid City) which threatened runs on local banks. No explicit run on Bank of Hermosa is described. Dates are inferred from the publication date: six-day holiday ending with reopening around 1932-08-05.

Events (3)

1. July 30, 1932 Suspension

Cause: Local Banks
Cause Details: Temporary closure/holiday followed failure of the Pennington County bank at Rapid City which threatened runs on local banks.
Newspaper Excerpt: opened following six-day holiday to work out plans for continuing business without suspension.
Source: newspapers

2. August 5, 1932 Other

Newspaper Excerpt: depositors signed five-year time certificate with interest ... Banks in Custer, Hermosa, and Pringle followed the same plan, following the failure of the Pennington county bank at Rapid City, which threatened heavy run on the Custer county banks.
Source: newspapers

3. August 5, 1932 Reopening

Newspaper Excerpt: opened following six-day holiday to work out plans for continuing business without suspension.
Source: newspapers

Newspaper Articles (1)

1. August 5, 1932 Deadwood Pioneer-Times Deadwood, SD

Article from Deadwood Pioneer-Times, August 5, 1932

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Article Text

in the Buffalo Gap bank after opening following six-day holiday to work out plans for continuing business without suspension. With very few ceptions, depositors signed five-year time certificate with interest at percent. The bank will pay dividends rapidly as cash is realized. Banks in Custer, Hermosa, and Pringle followed the same plan, following the failure of the Pennington county bank at Rapid City, which threatened heavy run on the Custer county banks.