Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
Farmers & Merchants National Bank (Cannon Falls, MN)
Episode Information
- Episode UID
670401501- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
-
67040national - Charter Number
- 6704
- Start Date
- January 1, 1925*
- Location
- Cannon Falls, Minnesota (44.507, -92.905)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
72b49e419e8a3d9a
Response Measures
None
Receivership Details
- Depositor recovery rate
- 43.2%
- Date receivership started
- 1925-12-17
- Date receivership terminated
- 1932-07-01
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 22.9%
- Share of assets assessed as doubtful
- 56.3%
- Share of assets assessed as worthless
- 20.9%
Description
Articles show the bank 'closed in 1925' and a receiver is acting; president later indicted for embezzlement.
Events (4)
1.
March 31, 1903
Chartered
- Source
- historical_nic
2.
January 1, 1925*
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed in 1925; later indictment of bank president for embezzlement suggests bank-specific insolvency/scandal.
- Newspaper Excerpt
- before it closed in 1925
- Source
- newspapers
3.
December 17, 1925
Receivership
- Source
- historical_nic
4.
November 12, 1926
Receivership
- Newspaper Excerpt
- O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
- Source
- newspapers
Newspaper Articles (5)
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Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
Click image to open full size in new tab
Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
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Article Text
O.E. GERBER, as Receiver of Farniers and Merchants National Bank of Cannon Falls, Minnesota, a corporation. Plaintiff,
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Article Text
Former Gopher State Banker Out on Bond Fargo. N. D., May 17.-(AP)M. N. Gerven, former president of the Farmers and Merchants National bank at Cannon Falls, Minn., before it closed in 1925, is at liberty under $20,000 bonds on a federal charge of embezzlement of $3,000. Gerven was arrested at Bisbee, N. D., by R. H. Walker, deputy U. S. marshal, for federal authorities in Minnesota where he was inditced upon complaint of the receiver of the Cannon Falls bank. When arraigned at Cando before U. S. Commssioner Charles Verritt, Gerven demanded a preliminary hearing which was set for May 25 at Cando.