First National Bank - Lake Norden, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10714
Charter Number: 10714
Start Date: September 1, 1926*
Location: Lake Norden, South Dakota (44.581, -97.209)

Metadata

Model: gpt-5-mini
Short Digest: 7a122660

Response Measures

None

Receivership Details

Depositor recovery rate: 73.9%
Date receivership started: 1926-10-05
Date receivership terminated: 1931-12-09
OCC cause of failure: Governance
Share of assets assessed as good: 29.7%
Share of assets assessed as doubtful: 54.6%
Share of assets assessed as worthless: 15.7%

Description

Article (Sioux City Journal, 1927-05-13) states the First National Bank at Lake Norden suspended business September and that a receiver in Washington will mail depositors dividend checks of 15%. No run is described; the bank appears to remain closed with a receiver handling dividends, so classified as suspension leading to closure/receivership.

Events (4)

1. March 9, 1915 Chartered

Source: historical_nic

2. September 1, 1926* Suspension

Cause Details: Article only states the bank suspended business September without giving a cause in the excerpted text; receiver later arranges dividend payments from Washington, implying formal suspension/receivership rather than a temporary liquidity halt due to rumor or correspondent failure.
Newspaper Excerpt: The bank suspended business September.
Source: newspapers

3. October 5, 1926 Receivership

Source: historical_nic

4. May 13, 1927 Other

Newspaper Excerpt: the city will receive 15 per cent which will aggregate ... The dividend checks now are being signed ... will be mailed to depositors soon the receiver of the bank ... from Washington.
Source: newspapers

Newspaper Articles (1)

1. May 13, 1927 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, May 13, 1927

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Article Text

of the state board of regents. exercises will be Federal Agents preceded by sermon at church, May 39. to Hunt for Man delivered by Rev, Holmes Dysinger. dean of the Theological semof Midland college, Fromont. Who Shot One banquet D., May 12.-Special: be held May 30. cities large of have been asked to close watch LEAD HIGH SCHOOL BOY Chrissfor Walter WINNER OF MANY HONORS man, alleged bootLead. May 2.-Special: An legger, who shot account of debate written by Floyd Federal ProhibiArpan, Lead high school, won third tion Officer R. place in contest conducted by the Labrie, of National Honorary Society for High Huron, S. LatSchool Journalists. announced reports from here. Floyd also placed the hospital say the of. first five contest staged by the ficer recover. Institute last One of his arms June More than 500 of the leading has been ampuhigh of the submitted tated as result material in contests for high W. Chrissman. of the wound. school journalists and the best mateChrissman's height is feet inches rial, including Floyd's story. will be and he weights about 165 and 40 published in book years eyes are dark blue. In addition, Floyd has just been ap his nose slightly deflected to the right pointed editor of the Nugget. Lead. side his face, hair thin, he has school publication. the next school cauliflower ears and there red year. His associates on the staff of spot left side of his face near the paper Betty Eliason, asso the lower part of his clate editor: Irma Tario, school editor: Leo Monahan, business manager; Hot Springs chapter was organized in Henry Ramp, advertising manager, FAMOUS HORSES TO RAILWAY PAYS $16,964 IN APPEAR AT FAITH FAIR ELEVATOR FIRE DAMAGES Faith. S. May The Sioux Falls, May famous horses that day the case was appeared two years ago been tried in circuit court and since then in parts of the United States, belonging E. Carhere, the Great Railway ter, of Dalzell, Meade county, has been pany settled for the destruction by fire contracted to appear at the Faith fair of grain at Sherman, near this Sloux Falls, in 1922. Officers of the The people here are interested in company, of what will be the result the contended the combination of Meade county broncos, fire started from sparks from noted for their bucking weed fire set by section hands of the prowess, and Meade county riders, company. only locally known. Mr. Carter also On the refusal of the rallyay com will furnish the steers for roping and pany to pay the loss, was started riding. MOBRIDGE BAPTISTS PLAN TO BUILD A NEW CHURCH 964 as damages. Mobridge, S. D., May Baptists are completing plans for the SURROS WILL TRANSPORT erecton of new church to take care TOURISTS MT. HARNEY of their steadily increasing memberCuster. S. D., May 13.-Special: ship. is. planned to have the work carload made up of 57 head of burros. of construction commence the fall otherwise known as "Rocky Mountain and have the foundation and basement canaries, has arrived here from So- completed before winter sets in, corro, M., and henceforth will do that on the main part of the their singing the Black Hills. building can be carried on during the It said that the animals were winter. gift from the ranch of Senator BurThe church will be constructed in sum, of New Mexico. transsuch manner that additions can be portation of built to it when necessary. this end. Hare made BUSINESS WOMEN'S CLUB CONVENTION PLANS LAID Some the years Sloux Falls. May old and will be some time before Plans for the convention of the they take up the task of carrying Business and Professional sightseers up Mt. Harney clubs of South Dakota, to be held in Sioux June and TRIBUTE WILL BE PAID pleted at meeting of of the TO MEMORY P. E. O. FOUNDERS club here. Hot Springs. May chief speaker at the opening ses Tribute will paid, meet sion will be Miss Lena Madesin Philheld in Hot lips. York city, number of Springs May 18. 19 and Mrs. other speakers from Sloux Falls and Alice Bird Babb. one of the other parts of the state are schedfounders of the death uled make addresses. POTTER FARM BUREAU IS LAYING PLANS FOR PICNIC S. D., May The first E. chapter South The Potter County Farm bureau Dakota organized Elk Point hold pienic rodeo grounds. 18 1905 There now chapters miles west of Gettysburg, on the Misthe state. Mrs. May June president the state Goy: W Bulow will deliver an ganization. and Mrs. Merial Joyce of address and there will be races. games, Hot is vice president. The other and dance at night. The executive committee. appointed by the bureau to supervise the events, sists of: Thelin. Maddy. Schiessl. and Carl Entorf. of SAWMILL WORKER'S LIVER IS RUPTURED BY BIT OF BOARD Hot Springs, May 12.-Special: accident brought Glen Measel, of Pringle: to the sisters hospital and came near costing him his Measel's pierced by piece of board and his liver The liver being copiously bleeding organ when the man's abdomen was found filled with blood when operated While is still very III, there are hopes for his recovery. LAKE COUNTY BIRTH RATE SHOWS HEAVY DECREASE Madison. S. D., May Investigation of the records of the clerk of courts of Lake county shows that the birth rate in Lake county has steadily been decreasing during the past five years. figures follow: 1922-435 births, 18 infant deaths 1923-313 births. infant deaths. 1924-302 births, 10 infant deaths. births, 19 infant deaths. 1926-284 births, 19 infant deaths. nounced the sale of their bardware and drug store to W. Rowbotham. George H. Carr the business in 1908 was joined in partnership about years ago by and Mrs. Leslie I. Bingham. Mr. died about year later but Mrs. Bingham continued as the other member of the partnership. Mr Carr, owner the land upon which Bison was built; know as the father of the town. Volin Commerce Club Elects. Volin, S. D., May 12.-Special: Variprojects the Volin and surrounding farming district were discussed the annual meeting members of the commercial club. The club elected the following officers for coming year: President, Shepherdson: vice president, Hardy Carlson: secretary, O. W. Pederson; Hart. The next meeting of the club will be held in the city park. Much Rain at Plankinton. Plankinton. S, May Four days of and drizzling rains here netted two and half of total of 11 inches since the be ginning of the year, according to Erland Johnson, The ground is well soaked and travel on dirt roads extremely diffcult, necessitating rural mail delivery by horse instead of car. Wool Meetings Are Called. Gettysburg, S. D., May clal: Two wool meetings will be held in Potter county May 17. An afternoen meeting held at the courthouse in Gettysburg. and an evening meeting at the town hall in Hoven. W. Schnaidt, marketing specialist from Brookings, will conduct both the meetings. Wool grading, preparation of flaeces for market, and marketing are some the subjects to be COVered. Closed Bank Will Pay. Lake Norden, S. D., May the May pected the First National bank city will receive 15 per cent which will ag. gregate The bank suspended business September. The dividend checks now are being signed Washington, will mailed to depositors soon the receiver of the bank them from Washington. Zoning Commisison Endorsed. Watertown, S. D.. May The city council has given its endorsement the appointment of zoning commission for Watertown, to operate under law authorizing and enabling cities of South Dakota reg ulate the character of buildings in the residential and districts. Mayor will select the council. and the will be at the next meeting of the council. Sheriff Has Bride Role. De Smet, S. May 12.-Special: Kruse, the 265 pound sheriff of Kingsbury county, be the blushing bride in the of "The Wedding" here next Monday and Tuesday nights. Fifty men of the community reported for the first gathering of the cast at the legion clubhouse. Say Flood Menaces Bridge. Geddes. S. D., May The oldest residents living on the Wheeler bottom lands along the Missouri river that stream the highest since 1882. is feared that the approach to the Rosebud bridge will be endangenerd by the high water, the fill made of river silt and is not. protected by retaining walls. Former Dakota Woman Dies. Hot Springs, S. D., May has been received here of the death of Mrs. Sidney Tomlin at her home West Plains, after prolonged illness. Mrs. Tomlin been resident of Hot Springs for thirty before going with her husband to West Plains, six years ago. Fire Officers Selected. De Smet. S. D., May 12.-Special: William Domonske was chosen chief of the fire company of De Smet, and Arthur Christianson assistant chief, to take the places of Frank Miller and Jerry Keller. recently resigned. The city commission has approved the selection. Bryant School Heads Resign. Bryant. D., May Prof. and Mrs. E. Mundt have tendered their as tendent and principal respectively of the schools, the resignations effective the of the present term. They to Bryant 1923, just after Mr. graduated from Carleton college, Northfield, Minn. Old Iowa Pastor Expires. Hot Springs, D., May 12.-Special: Rev. Eugene Daly, minister many years in the Methodist Episcopal conference Iowa and father-in-law matter of Dr. Barker, governor of Battle Mountain national sanitarium at this place, died at the Barker residence after long period of ill health. The body taken to Deep River, Ia., for burial. science class, 4-H Veteran Miner Is Dead. Custer, D., May John Sanford. more than 40 years engaged in mining in the Black Hills. died of pneumonia after short illness. He survived by widow son. Three Pig Litters Large. Hill City, D., May 12.-Special: These are the Prizes: Three Ford Brothers with 13, and 15 little pigs, First prize respectively, total of 42. More Eight state prizes, each ranchers in this vicinity are going into the hog raising business year by year.