Citizens State Bank - Rice Lake, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 8, 1930
Location: Rice Lake, Wisconsin (45.506, -91.738)

Metadata

Model: gpt-5-mini
Short Digest: ea077364

Response Measures

None

Description

Article reports the Citizens State Bank of Rice Lake closed and the State Banking Commission took it over; closure attributed to frozen assets in farm loans (local agricultural distress). No run is mentioned.

Events (2)

1. January 8, 1930 Receivership

Newspaper Excerpt: The state banking commission announced today that it had taken over the Citizens State bank of Rice Lake after that institution had closed its doors.
Source: newspapers

2. January 8, 1930 Suspension

Cause: Local Shock
Cause Details: Frozen assets in farm loans blamed for the bank's failure/closure.
Newspaper Excerpt: The state banking commission announced today that it had taken over the Citizens State bank of Rice Lake after that institution had closed its doors.
Source: newspapers

Newspaper Articles (1)

1. January 8, 1930 News-Record Neenah, WI

Article from News-Record, January 8, 1930

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Article Text

State Bank Of Rice Lake Closes Doors By United Press Madison.-The state banking commission announced today that it had taken over the Citizens State bank of Rice Lake after that institution had closed its doors. Frozen assets in farm loans were blamed. Deposits of the bank, according to its last report, were $340,000. Conrad Gerland, president, died of heart failure Dec. 26.