Peoples National Bank - Hot Springs, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9166
Charter Number: 9166
Start Date: December 1, 1924*
Location: Hot Springs, South Dakota (43.432, -103.474)

Metadata

Model: gpt-5-mini
Short Digest: 26c88ee8

Response Measures

None

Receivership Details

Depositor recovery rate: 63.2%
Date receivership started: 1925-01-15
Date receivership terminated: 1928-08-27
OCC cause of failure: Economic conditions
Share of assets assessed as good: 27.2%
Share of assets assessed as doubtful: 37.3%
Share of assets assessed as worthless: 35.6%

Description

The articles state the Peoples National Bank of Hot Springs had been in the hands of a receiver since December 1924 and did not reopen. Receiver actions (resignation, replacement) and later sale of the bank building and appeals regarding claims indicate the bank remained closed and in receivership. No run is described and the immediate cause of the suspension is not specified in the articles.

Events (6)

1. June 12, 1908 Chartered

Source: historical_nic

2. December 1, 1924* Suspension

Cause Details: Articles do not specify reason for suspension; only note the bank was in the hands of a receiver from December 1924.
Newspaper Excerpt: the Peoples' National bank, which has been in the hands of receiver since December, 1924.
Source: newspapers

3. January 15, 1925 Receivership

Source: historical_nic

4. May 11, 1926 Receivership

Newspaper Excerpt: James E. receiver of the Peoples National bank since its closing, 16 months ago, telegraphed his ... that the resignation take place upon the arrival of his Harry Hall, of Lusk, Wyo., will arrive this week to take over the business at the bank.
Source: newspapers

5. March 5, 1927 Other

Newspaper Excerpt: Wind Cave Transportation company of Hot Springs has bought the building formerly occupied by the Peoples' National bank, which has been in the hands of receiver since December, 1924. The vault is retained by the bank's receiver, W. H. Allen, until July ... when bank's will be wound
Source: newspapers

6. October 13, 1927 Other

Newspaper Excerpt: One appeal concerns the action Charles Moore against the receiver of the Peoples National bank of Hot Springs ... Moore contended that his claim should be paid full but the receiver of the Peoples bank held that cash was the claim
Source: newspapers

Newspaper Articles (3)

1. May 11, 1926 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, May 11, 1926

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Article Text

PLACE 52,000 TROUT IN BLACK HILLS CREEK Spearfish, S. D., May Approximately 52,000 trout were planted in Little Spearfish creek. by the field men of the United States fish hatchery. It is expected that 500,000 young trout will be planted in the of the Black Hills this year. Of those just planted 15,000 were placed at the placed at the head of the creek and the remaining planted in nursery pond near Roughlock Falls. INDIAN FAIR GROUP Breen ELECTS NEW OFFICERS Surprise D., May The Indian ALL Nutcracker tion held its for the purpose Eckert of electing officers for the year and making arrangements for the comUkelele Harmonica Contest ing Finals The following officers were elected: Red Lightning. president: eph Grabbing Bear. president; W. Hare, second vice president: W. Hare. secretary, and Henry Fred erick, treasurer. Rush Work on Road. Colman, S. D., May 10.-Special: Two crews are pushing the work of improving the last eight miles of the "Till stretch of state Sat. Night highway and the work on this project Clap Hands: Everybody Come is expected to be completed in about two weeks. Team Sponsors Benefit. Platte, S. May The high school football squad will give dance, proceeds which will go to. wards supply funds for the coming year and for the purchase of medals for the rank given the 1925 team in the state. Bank Receiver Resigns. Hot Springs, S. D., May James E. receiver of the Peo. THE ples National bank since its closing, 16 months has ago, telegraphed his ABBEY SISTERS the comptrol. ler with the that the res ignation take place upon the arrival "MUSICAL MOMENTS" of his Harry Hall, of Lusk, Wyo., will arrive this week NOVELTY IN COLOR to take over the business at the bank.

2. March 5, 1927 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, March 5, 1927

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Article Text

TRANSPORT COMPANY PURCHASES OFFICE Hot Springs, Mar. Wind Cave Transportation company of Hot Springs has bought the building formerly occupled by the Peoples' National bank, which has been in the hands of receiver since December, 1924. The front part of the building will be used as the compaoffice and the remainder as storage room for its bus and cars. The vault is retained by the bank's receiver, W. H. Allen, until July which time believed bank's will be wound

3. October 13, 1927 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, October 13, 1927

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Article Text

BANK CASES ARE BEING APPEALED peals from decisions of the Unit ed States district court of South Dakota involving transactions closed banks are embodied in briefs just printed here for local attorneys who are carrying the cases to the circuit court of appeals in behalf of the respective defendants One appeal concerns the action Charles Moore against the receiver of the Peoples National bank of Hot Springs in which Moore asked and was granted by district court preference the payment of three cashier's checks drawn on the Stockman's bank Hit Springs and sent the Peoples National for collection. balance in behalf of the latter bank for this and other covered in draft was the Stockmans to the Peoples bank both banks were closed before the draft cleared Moore contended that his claim should be paid full but the of the Peoples bank held that cash was the claim the transaction one The made preferred not be decision in district court for other cases in which The given for the plaindecision lift was that which E. Louise Payne seeks recovery of money paid mortgage in her favor the DeMoulin Loan and Invest ment company of Hot Springs This company deposited the monits general account in the Peoples National bank and when the bank closed the investment company's account was charged against the indebtedness of the company to the bank Mrs. Payne amount due her on that the of the mortgage payment should constitute preferred claim against the bank was resist by the bank's receiver on the grounds that was included in investment company's count. with no information con her claim to any of Both cases involve elements of importance In the preference of claims against banks and the decision of the of will of the court appeals for