National Bank - Sioux Falls, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12881
Charter Number: 12881
Start Date: August 8, 1932
Location: Sioux Falls, South Dakota (43.550, -96.700)

Metadata

Model: gpt-5-mini
Short Digest: 90f4ea69

Response Measures

None

Description

Article (Aug 8, 1932) references L. S. Madson as receiver of the National Bank and legal action to recover funds from an estate, indicating the bank was in receivership (i.e., closed and placed under a receiver). No mention of a depositor run in the article, so classified as suspension leading to closure/receivership. Date of receivership not stated; using article date as evidence of receivership being in effect by that time.

Events (1)

1. August 8, 1932 Receivership

Newspaper Excerpt: An application for a temporary injunction ... was filed ... by attorneys for L. S. Madson, receiver of the National bank ... Mr. Madson instituted the action in an attempt recover $7,500 ... an affidavit filed with the application set forth that the receiver lien on the estate ...
Source: newspapers

Newspaper Articles (1)

1. August 8, 1932 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, August 8, 1932

Click image to open full size in new tab

Article Text

ASK INJUNCTION IN WAITE ESTATE Bank Receiver Seeks to Block Heirs From Disposing of Property An application for a temporary injunction to prevent heirs of the Levi D. Waite estate from disposing of estate property was filed in federal court here today by attorneys for L. S. Madson. receiver of the National bank of Mr. Madson instituted the action in an attempt recover $7,500. alleged to be owing by the estate liability on bank stock owned by the late Mr. Waite. Property belonging to the estate is reported to be cated near Judge James Elliott signed an order directing the defense to appear in court here August 15 at show cause hearing. An affidavit filed with the application set forth that the receiver lien on the estate and it expressed fear heirs might dispose of the property an to avoid the payment. Danforth and Mitcherr attorneys, represent Mr. Madson.