Madison State Bank (Madison, MN)

Episode Information

Episode Type
Suspension → Closure
Start Date
June 9, 1931
Location
Madison, Minnesota (45.010, -96.196)
Bank Type
state
Routing Number
75-0231

Metadata

Episode ID
Bank ID
City ID
270647361
Model
gpt-5-mini
Short Digest

Notes

Article says the bank shut their doors to conserve assets but gives no follow-up about reopening or receivership.

Events (1)
1. June 9, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank directors closed the bank to conserve assets amid distress (precautionary insolvency-related suspension).
Newspaper Excerpt
Directors of ... the Madison State Bank said they had shut their doors to conserve assets.
Source
newspapers

Newspaper Articles (2)
1. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH

Article Text

THREE MORE CLOSE St. Paul, Minn June 9. Three Minnesota banks with total deposits of $1. 170,000 closed today Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to serve

2. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH

Article Text

THREE MORE CLOSE Three Minnesota banks with total deposits of $1,470,000 closed today. Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to conserve assets.