First Trust & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 15, 1923
Location: Mitchell, South Dakota (43.709, -98.030)

Metadata

Model: gpt-5-mini
Short Digest: 30c6bab9

Response Measures

None

Description

Article (The Mellette County Pioneer, 1923-10-19) reports that First Trust and Savings Bank of Mitchell closed their doors last Monday. No explicit mention of a depositor run; closure appears permanent and reference to receivership suggests failure. I infer the closure date as 1923-10-15 (the Monday before publication).

Events (1)

1. October 15, 1923 Suspension

Cause Details: Article does not give a specific cause for the suspension; simply reports the banks closed and implies insolvency/receiver likely but provides no explicit trigger.
Newspaper Excerpt: The First National Bank, the oldest banking institution at Mitchell, and the First Trust and Savings Bank of the same place, a subsidary institution, closed their doors last Monday.
Source: newspapers

Newspaper Articles (1)

1. October 19, 1923 The Mellette County Pioneer White River, Wood, SD

Article from The Mellette County Pioneer, October 19, 1923

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Article Text

A receiver is generally appointed when there is nothing to receive. The First National Bank, the oldest banking institution at Mitchell, and the First Trust and Savings Bank of the same place, a subsidary institution, closed their doors last Monday. Their combined deposits amounted to more than $1,000,000. Lange, Eye Man, at Winner, October 26-27. Wood, October 29, 10:0011:00 forenoon only. White River, October 29, afternoon. Murdo, October 30. Through once this fall. Be on time. See about the school children. Boss Farmer E. S. Cleaver, wife and danghter went to Pierre, Wednesday of last week where Mr. Cleaver is now in the hospital. He was operated on last Friday morning for appendicitis, gall stones and gall bladder. He stood the operation very well and is now getting along as well as could be expected. Mrs. Cleaver and little Elizabeth will remain at Pierre until such time as Mr. Cleaver will be able to return home, which will be two or three weeks at the earliest. P. Hicks Cadle, of Ardmore, S. D., editor of the American, the new paper at Witten, together with J. G. Willis, of White Lake, S. D., were Wood visitors last Sunday and made a short call at the Pioneer office. Mn. Willis will be in charge of the Witten American office. He is an old newspaper man of considerable experience, and he is now on the job unpacking the plant and setting the type for the first