First National Bank - Tyndall, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6792
Charter Number: 6792
Start Date: July 1, 1932
Location: Tyndall, South Dakota (42.993, -97.863)

Metadata

Model: gpt-5-mini
Short Digest: ad6715cf

Response Measures

None

Receivership Details

Depositor recovery rate: 45.2%
Date receivership started: 1932-07-02
Date receivership terminated: 1937-12-22
Share of assets assessed as good: 14.9%
Share of assets assessed as doubtful: 77.9%
Share of assets assessed as worthless: 7.2%

Description

Article states the First National Bank of Tyndall closed its doors July 1, 1932 and refers to a receiver (change of receiver in Jan 1934). No run or reopening is mentioned. Therefore this is a suspension that resulted in permanent closure/receivership.

Events (4)

1. May 20, 1903 Chartered

Source: historical_nic

2. July 1, 1932 Receivership

Newspaper Excerpt: McMahon Replaces Wales As Tyndall Bank Receiver... Col. Boyd Wales has resigned as receiver in charge of the First National bank here, which closed its doors July 1, 1932. George B. McMahon, Sioux Falls, has taken over the duties of the [receiver].
Source: newspapers

3. July 1, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed and entered receivership (receiver in charge was appointed after closure).
Newspaper Excerpt: the First National bank here, which closed its doors July 1, 1932.
Source: newspapers

4. July 2, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. January 7, 1934 Argus-Leader Sioux Falls, SD

Article from Argus-Leader, January 7, 1934

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Article Text

McMahon Replaces Wales As Tyndall Bank Receiver Tyndall, aJn. 8.-Col. Boyd Wales has resigned as receiver in charge of the First National bank here, which closed its doors July 1, 1932. Colonel Wales has been here since the George B. McMahon, Sloux Falls, has taken over the duties of the While no reason is given for Colonel Wales' is thought that may be considering making the for congress spring. He had wide quaintance over state made remarkable record overseas during the war.