Bank of Herrick - Herrick, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 15, 1923
Location: Herrick, South Dakota (43.115, -99.188)

Metadata

Model: gpt-5-mini
Short Digest: 94726432

Response Measures

None

Description

Article (The Mellette County Pioneer, 1923-07-06) reports the state banking department took charge of the Bank of Herrick and placed a receiver in charge about three weeks earlier after discovering the vice president had overdrawn his account (~$3,000). OCR shows variations in the vice president's name (Terharr / Terbarr / Terbarr); corrected to 'F. H. Terbarr' is plausible but original text retained as reported. No run or depositor agitation is mentioned; bank is described as 'defunct' and placed in receivership, indicating permanent closure.

Events (2)

1. June 15, 1923 Receivership

Newspaper Excerpt: the state banking department took charge of the bank and put a receiver in charge.
Source: newspapers

2. June 15, 1923 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Discovery that vice president F. H. Terbarr/Terharr had overdrawn his account by about $3,000; banking department intervened.
Newspaper Excerpt: About three weeks ago the state banking department took charge of the bank and put a receiver in charge.
Source: newspapers

Newspaper Articles (1)

1. July 6, 1923 The Mellette County Pioneer White River, Wood, SD

Article from The Mellette County Pioneer, July 6, 1923

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Article Text

Herrick Banker Held Under Serious Charge The preliminary hearing of F. H. Terharr, vice president of the defunct Bank of Herrick, which was to have been held last Saturday was postponed two wseks. Mr. Terharr is charged with violating the state laws by overdrawing his account to the amount of $3000, which he has failed to make good. About three weeks ago the stae banking department took charge of the bank and put a,receiver in charge. In going over the books it was discovered that Terbarr had overdrawn his account contrary to law and the banking department ordered his arrest.-Gregory Times-Advocate.