Article Text
IADISON, 8. D., BANK QUITS. MADISON First National business yesterday capital was $30,000 and It had deposits of $500,000.
First National Bank (Madison, SD)
Episode Information
- Episode UID
314901504- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
31490national - Charter Number
- 3149
- Start Date
- April 24, 1925
- Location
- Madison, South Dakota (44.006, -97.114)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
eaaa06fd3b2759ef
Response Measures
None
Receivership Details
- Depositor recovery rate
- 21.4%
- Date receivership started
- 1925-05-21
- Date receivership terminated
- 1931-10-31
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 32.8%
- Share of assets assessed as doubtful
- 28.6%
- Share of assets assessed as worthless
- 38.6%
Description
OCR typo corrected (IADISON -> MADISON).
Events (5)
1.
April 1, 1884
Chartered
- Source
- historical_nic
2.
April 24, 1925
Receivership
- Newspaper Excerpt
- the defunct First National bank ... The bank receiver recently sold property ... which housed the bank, for $18,100.
- Source
- newspapers
3.
April 24, 1925
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank failed/ceased business due to insolvent affairs; ceased operations and effectively closed.
- Newspaper Excerpt
- MADISON, S. D., BANK QUITS.
- Source
- newspapers
4.
May 21, 1925
Receivership
- Source
- historical_nic
5.
April 5, 1928
Other
- Newspaper Excerpt
- REAL ESTATE SALE AUGURS BANK DIVIDEND IN MADISON ... Rognes Brothers purchased from the defunct First National bank the property ... The bank receiver recently sold property ... This makes a total of over $36,000 which should be enough to declare another small dividend to the stock holders.
- Source
- newspapers
Newspaper Articles (2)
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Article Text
REAL ESTATE SALE AUGURS BANK DIVIDEND IN MADISON (Special to the Argus-Leader) owners Madison, of the April Madison 5.-Rognes Brothers, purchased from the defunct First have National bank the property known as the McKinnon corner, at the intersection of Center street and Egan avenue, which houses the Sugar Bowl, This is the most prominent corner of the town. The consideration is $18,000 The bank receiver recently sold property $18,100. which housed the bank, for This makes a total of over $36,000 which should be enough to declare another small dividend to the stock holders. In nearly years the bank failed only 10 per cent since has been paid out to depositors so badly were the affairs of the bank involved. Chris Rognes, one of the members of the firm which the McKinnon mayor property Madison. from the bank is the of