Winner National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12024
Charter Number: 12024
Start Date: October 23, 1925
Location: Winner, South Dakota (43.377, -99.859)

Metadata

Model: gpt-5-mini
Short Digest: ee7ec37f

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1925-10-24
Date receivership terminated: 1931-02-21
OCC cause of failure: Economic conditions
Share of assets assessed as good: 26.2%
Share of assets assessed as doubtful: 49.6%
Share of assets assessed as worthless: 24.2%

Description

Articles state Winner National closed Oct 23, 1925 and subsequently had a receiver who brought federal suits (May 1926) and references to receivership continue in June 1927. No article describes a depositor run; the bank was closed and placed in receivership, consistent with suspension leading to permanent closure. Cause inferred as bank-specific adverse information because suits/allegations about improper collateral/credit arrangements harming depositors are mentioned.

Events (5)

1. September 28, 1921 Chartered

Source: historical_nic

2. October 23, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Articles allege improper collateral/credit arrangements and claims that the bank turned over currency for liquidation; suits allege injuries to other depositors from the bank's credit/collateral dealings.
Newspaper Excerpt: which closed October 23, 1925
Source: newspapers

3. October 24, 1925 Receivership

Source: historical_nic

4. May 7, 1926 Receivership

Newspaper Excerpt: WINNER BANK RECEIVER STARTS FEDERAL SUITS ... closed October 23, 1925, by Eugene Barnum ... actions were brought in fed today for of the Winner National ... the Winner bank, corporation alleged, gave the Winner credit notes aggregating than $36,000 ... to the detriment and injury other depositors.
Source: newspapers

5. June 25, 1927 Other

Newspaper Excerpt: Winner, June L'Herrison of this city has been appointed receiver of the First National bank of Kennebec... He is also receiver of the First National Bank of Gregory and both First National and the Winner National of Winner.
Source: newspapers

Newspaper Articles (4)

1. May 7, 1926 Argus-Leader Sioux Falls, SD

Click image to open full size in new tab

Article Text

WINNER BANK RECEIVER STARTS FEDERAL SUITS Three actions were brought in fed today for of the Winner National which closed October 23, 1925, by Eugene Barnum, The first was against on promissory note Another was against Alvin Heller of and M. Daugherty of the bank, similar for to the Daugherty and Indorsed by him bank. Winner The third was for $30,000 against the Agricultural Credit the Federal Intermediate Credit bank of Omaha The Winner bank, corporation alleged, gave the Winner credit notes aggregating than $36,000 under collateral agree more ment the credit security for obligations due corporation. The Intermediate bank, was al leged, took the same notes security for of the Winner credit and not returned $30,000 of the total time Winner National turned the to the comptroller the currency for liquidation. The collateral agreement between the Winner bank and the credit corporation, was alleged. was made at the request of the federal bank in of and to the detriment and injury other depositors.

2. June 3, 1927 The Daily Deadwood Pioneer-Times Deadwood, SD

Article from The Daily Deadwood Pioneer-Times, June 3, 1927

Click image to open full size in new tab

Article Text

Federal Court End Here Eight leased from the county yesterday when the grand jury, which has been in session for the past two days, failed to bring indictments against them. Most of cases were violating liquor laws the defendants departed for their homes on the evening Harrison, receiver for the Winner National bank, received direct verdict for $2,685 against Charles Abourreski, Winner. expected that today will conclude this term of Federal court Deadwod the petit jury cused yesterday by Judge James Elliott and many of the jurors turned their homes. Circuit Court Starts Lawrence county circuit court will convene this city next Monday morning, June and the jury been ordered to report on the lowing Many criminal cases on the docket for this term, according the clerk courts, most of which also for violations of the Circuit court presided over by Judge James McNenny.

3. June 25, 1927 Norfolk Daily News Norfolk, NE

Article from Norfolk Daily News, June 25, 1927

Click image to open full size in new tab

Article Text

to The News: W. Schulte from Dubuque, Wednesday to look after business Mr. Schulte owns several farms near Elgin. Miss Map Brennan of Norfolk visiting here with her sister, Mrs. Karl Stukey. Mrs. George Lindberg is serious hospital Columbus. The Rev Mr. Snyder, pastor of the Congregational church Park Center, seriously the Van Elgin. Miss Milred Crum Tilden visiting Mrs. H. Taylor. Miss Nell O'Hara has returned from Omaha, where she had been with her sister. Mrs. Moore, who in health. Miss O'Hara poor expects to return to Omaha Sunday and Mrs. accompany Moore Colorado, where they will remain for some time. hoping the change and climate will restore her Cecil Green in Norfolk on business Thursday. Harry Lampman has carpenters work tearing down the old house his property south part town. understood that residence will be built on the site W. Wilson returned Wednesday from week's visit at the James Sheets' home. Mrs. Leroy Stringfellow and Ift tle daughter, Margaret Bae, left Thursday for their home at Manchester, and Mrs. George Guffy daughter, Hester, left for their home Scribner Friday after week's visit here with old friends. Named Bank Receiver Winner, June to The News: L'Herrison this city has been appointed celver of the First National bank Kennebec, which closlast Monday by resolution of its board directors. Mr. L'Herrison took immediate charge and will proceed to liquidate affairs the bank as rapidly as possible. In addition to L'Herrison of the First Na tional bank of and both the First and the Winner National of Winner.

4. June 26, 1927 The Omaha Morning Bee-News Omaha, NE

Article from The Omaha Morning Bee-News, June 26, 1927

Click image to open full size in new tab

Article Text

Bible School Presents Pageant at Red Cloud Red Cloud. June part program for the last day of the Vacation Bible school. which closed here Friday. pageant. "The City Beautiful.' was put on by 46 members of the school during the evening. Music was furnished by union chorus composed of singers from the differchurches. Other features of the evening were dramatization the primary boys and girls. bible drill given by the juniors and exhibit the work done in the school this year. Winner Receiver for Three National Banks Winner. June L'Herrison of this city has been appointed receiver of the First National bank of Kennebec. S. which was closed by resolution of its Board of directors. Mr. L'Herrison will liquidate the affairs of the bank as rapidly as possible He is also receiver of the First National Bank of Gregory and both First National and the Winner National of Winner. Boy Dies of Lockjaw Due to Wound in Hand Columbus. June Joseph Pfeifer. 14. son of Mr. and Mrsal Fred Pfeiter near Humphrey. died in St. Mary hospital here result of severe wound in the palm right hand. caused by explosion of blank cartridge in revolver He was given immediate medical atten tion. but lockjaw developed and physicians were unable to save life.