20395. First National Bank (Kennebec, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10098
Charter Number
10098
Start Date
June 20, 1927
Location
Kennebec, South Dakota (43.904, -99.862)

Metadata

Model
gpt-5-mini
Short Digest
ace391d2

Response Measures

None

Receivership Details

Depositor recovery rate
13.3%
Date receivership started
1927-06-20
Date receivership terminated
1932-01-14
OCC cause of failure
Economic conditions
Share of assets assessed as good
11.7%
Share of assets assessed as doubtful
83.2%
Share of assets assessed as worthless
5.1%

Description

Newspaper reports (June 25–26, 1927) state the First National Bank of Kennebec closed last Monday by resolution of its board of directors and that L'Herrison was appointed receiver. No run or depositor panic is mentioned. Closure appears to be by board resolution leading to liquidation/receivership.

Events (4)

1. November 6, 1911 Chartered
Source
historical_nic
2. June 20, 1927 Receivership
Source
historical_nic
3. June 20, 1927 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank was closed by a resolution of its board of directors (board decision to cease operations).
Newspaper Excerpt
appointed receiver of the First National bank of Kennebec, which closed last Monday by resolution of its board directors.
Source
newspapers
4. June 25, 1927 Receivership
Newspaper Excerpt
L'Herrison ... has been appointed receiver of the First National bank Kennebec ... Mr. L'Herrison took immediate charge and will proceed to liquidate affairs of the bank as rapidly as possible.
Source
newspapers

Newspaper Articles (2)

Article from Norfolk Daily News, June 25, 1927

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Article Text

to The News: W. Schulte from Dubuque, Wednesday to look after business Mr. Schulte owns several farms near Elgin. Miss Map Brennan of Norfolk visiting here with her sister, Mrs. Karl Stukey. Mrs. George Lindberg is serious hospital Columbus. The Rev Mr. Snyder, pastor of the Congregational church Park Center, seriously the Van Elgin. Miss Milred Crum Tilden visiting Mrs. H. Taylor. Miss Nell O'Hara has returned from Omaha, where she had been with her sister. Mrs. Moore, who in health. Miss O'Hara poor expects to return to Omaha Sunday and Mrs. accompany Moore Colorado, where they will remain for some time. hoping the change and climate will restore her Cecil Green in Norfolk on business Thursday. Harry Lampman has carpenters work tearing down the old house his property south part town. understood that residence will be built on the site W. Wilson returned Wednesday from week's visit at the James Sheets' home. Mrs. Leroy Stringfellow and Ift tle daughter, Margaret Bae, left Thursday for their home at Manchester, and Mrs. George Guffy daughter, Hester, left for their home Scribner Friday after week's visit here with old friends. Named Bank Receiver Winner, June to The News: L'Herrison this city has been appointed celver of the First National bank Kennebec, which closlast Monday by resolution of its board directors. Mr. L'Herrison took immediate charge and will proceed to liquidate affairs the bank as rapidly as possible. In addition to L'Herrison of the First Na tional bank of and both the First and the Winner National of Winner.


Article from The Omaha Morning Bee-News, June 26, 1927

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Article Text

Bible School Presents Pageant at Red Cloud Red Cloud. June part program for the last day of the Vacation Bible school. which closed here Friday. pageant. "The City Beautiful.' was put on by 46 members of the school during the evening. Music was furnished by union chorus composed of singers from the differchurches. Other features of the evening were dramatization the primary boys and girls. bible drill given by the juniors and exhibit the work done in the school this year. Winner Receiver for Three National Banks Winner. June L'Herrison of this city has been appointed receiver of the First National bank of Kennebec. S. which was closed by resolution of its Board of directors. Mr. L'Herrison will liquidate the affairs of the bank as rapidly as possible He is also receiver of the First National Bank of Gregory and both First National and the Winner National of Winner. Boy Dies of Lockjaw Due to Wound in Hand Columbus. June Joseph Pfeifer. 14. son of Mr. and Mrsal Fred Pfeiter near Humphrey. died in St. Mary hospital here result of severe wound in the palm right hand. caused by explosion of blank cartridge in revolver He was given immediate medical atten tion. but lockjaw developed and physicians were unable to save life.