Bank of Wasta - Wasta, SD

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 16, 1932
Location: Wasta, South Dakota (44.069, -102.446)

Metadata

Model: gpt-5-mini
Short Digest: 64b5f01d

Response Measures

None

Description

Articles from July 1932 report the Bank of Wasta (Pennington County) closed after discovery of fictitious/forged notes among its collateral and the arrest of the former cashier. No article mentions a depositor run; the closure appears permanent. OCR errors corrected (e.g., 'Bank Wasta' -> 'Bank of Wasta').

Events (1)

1. July 16, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Discovery of fictitious/forged notes among the bank's collateral (forgery by the former cashier) blamed for the bank's closing
Newspaper Excerpt: Warrants of arrest ... were issued here this forenoon against formerly cashier of the Bank Wasta. ... which were sold Pennington County bank here before its closing
Source: newspapers

Newspaper Articles (2)

1. July 16, 1932 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, July 16, 1932

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Article Text

WARRANTS Charge Forgery Of Three Notes Of $8,175; Blamed For Bank Closing Here. Warrants of arrest on three ditional charges forgery notes, totalling which were sold Pennington County bank here before its closing, were issued here this forenoon against formerly cashier of the Bank Wasta. Complaints signed by Fossum, Pierre, deputy superin-

2. July 24, 1932 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, July 24, 1932

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Article Text

Dakotan Unable to Get Bond on Forgery Count Rapid City, to furnish $25,000 bond covering three charges forgery, former cashier the Bank of Wasta, committed jail Saturday for circuit court action after waiving preliminary hearing Friday. Aos arrested after the state banking department announced had found fictitious notes among collateral of the Pennington County bank here. He was blamed for the closing of both banks and at liberty under bond forgery charge when were discovered the Pennington County bank. four notes specifimentioned total about Ruden, state banks, has said notes aggregating $100,000 had been exchanged to Pennington County bank for rediscounts.