Sioux Falls National Bank - Sioux Falls, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2823
Charter Number: 2823
Start Date: November 9, 1899
Location: Sioux Falls, South Dakota (43.550, -96.700)

Metadata

Model: gpt-5-mini
Short Digest: 65e87da6

Response Measures

None

Receivership Details

Depositor recovery rate: 50.0%
Date receivership started: 1924-01-24
Date receivership terminated: 1934-08-10
OCC cause of failure: Run
Share of assets assessed as good: 59.2%
Share of assets assessed as doubtful: 25.3%
Share of assets assessed as worthless: 15.5%

Description

Articles (Nov 1899) report the Sioux Falls National Bank 'closed its doors a few years ago' and that the receiver C. F. Zimmerman is distributing a 10% dividend to creditors. No contemporaneous run is described; the bank had been placed in receivership and remains closed. Exact date of suspension/closing not provided in these clippings.

Events (5)

1. November 23, 1882 Chartered

Source: historical_nic

2. November 9, 1899 Other

Newspaper Excerpt: Creditors of the Sioux Falls National Bank ... are receiving their proportion of another dividend of 10 per cent., which is being distributed among them by C. F. Zimmerman, receiver of the bank.
Source: newspapers

3. November 9, 1899 Receivership

Newspaper Excerpt: C. F. Zimmerman, receiver of the Sioux Falls National bank ... has announced another dividend of 10 per cent, to be distributed among the creditors.
Source: newspapers

4. January 24, 1924 Receivership

Source: historical_nic

5. * Suspension

Cause Details: Closure date and cause not specified in the articles; described only as having 'closed its doors a few years ago.'
Newspaper Excerpt: Sioux Falls National bank, which closed its doors a few years ago
Source: newspapers

Newspaper Articles (2)

1. November 10, 1899 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, November 10, 1899

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Article Text

Dividend from Broken Bank. SIOUX FALLS, S. D., Nov. 9.-(Special.) -C. F. Zimmerman, receiver of the Sioux Falls National bank, which closed its doors a few years ago, has announced another dividend of 10 per cent, to be distributed among the creditors.

2. November 17, 1899 Hot Springs Weekly Star Hot Springs, SD

Article from Hot Springs Weekly Star, November 17, 1899

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Article Text

Broken Bank Pays a Dividend. Creditors of the Sioux Falls National Bank, which closed its doors a few years ago, are receiving their proportion of another dividend of 10 per cent., which is being distributed among them by C. F. Zimm: 111, receiver of the bank.