Article states the owner closed up his bank at Iroquois, indicating a permanent/voluntary closure.
Events (1)
1.April 27, 1897Suspension
Cause
Voluntary Liquidation
Cause Details
Owner (C.F. Zimmerman) closed up his bank and moved away; appears to be a voluntary winding-up.
Newspaper Excerpt
Ex-Bank Examiner, C.F. Zimmerman has closod up his bank at Iroquois
Source
newspapers
Newspaper Articles (1)
1.April 27, 1897The Madison Daily LeaderMadison, SD
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Article Text
Ex-Bank Examiner, C.F. Zimmerman has closod up his bank at Iroquois and will remove with his family to Sioux Falls, where he is now receiver of the Dakota National bank.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.