First National Bank - Oldham, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10256
Charter Number: 10256
Start Date: October 3, 1929
Location: Oldham, South Dakota (44.227, -97.308)

Metadata

Model: gpt-5-mini
Short Digest: c55fdfbf

Response Measures

None

Receivership Details

Depositor recovery rate: 64.2%
Date receivership started: 1925-01-03
Date receivership terminated: 1929-09-30
OCC cause of failure: Economic conditions
Share of assets assessed as good: 28.2%
Share of assets assessed as doubtful: 37.3%
Share of assets assessed as worthless: 34.5%

Description

Article (The Daily Plainsman, 1929-10-03) states a new receiver (Shennum) is in charge of four closed banks in Kingsbury County, including Farmers National Bank at Lake Preston. No run is mentioned; the bank is closed and a receiver assigned. Date used is the publication date when receiver assignment is reported.

Events (4)

1. September 11, 1912 Chartered

Source: historical_nic

2. January 3, 1925 Receivership

Source: historical_nic

3. October 3, 1929 Receivership

Newspaper Excerpt: Shennum of Madison is the new receiver of four closed banks in Kingsbury county ... will be in charge of the ... Farmers National banks at Lake Preston
Source: newspapers

4. October 3, 1929 Suspension

Cause: Government Action
Cause Details: Receiver (Shennum) appointed and banks reported closed in Kingsbury County; suspension/closure overseen by receiver.
Newspaper Excerpt: Mr. Shennum takes the in place of R. B. McCandless who has been transferred ... The new ver will be in charge of the De Smet National bank, the First Na... and Farmers National banks at Lake Preston
Source: newspapers

Newspaper Articles (1)

1. October 3, 1929 The Daily Plainsman Huron, SD

Article from The Daily Plainsman, October 3, 1929

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Article Text

New Bank Receiver In Charge Of Kingsbury Shennum of Madison is the new recelver of four closed banks in Kingsbury county. Mr. Shennum takes the in place of R. B. McCandless who has been transferred to South Carolina where he will be in charge of the Points West liquidation of several institutions. The new ver will be in charge of the De Smet National bank, the First Na. ALBERTA VAUGHN tional and Farmers National banks at Lake Preston and the recently com- A swift-moving pleture of flying pletely Equidated First National at hoois and heating hearts. A son Oldham. 01 the West on a rampuge-AND