Madison State Bank (Madison, MN)

Episode Information

Episode UID
75023171578
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7502317 routing
Routing Number
75-0231
Start Date
June 9, 1931
Location
Madison, Minnesota (45.010, -96.196)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
67e4c5eca06bbc7a

Response Measures

None

Description

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 from The Cincinnati Enquirer, June 10, 1931

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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 from The Cincinnati Enquirer, June 10, 1931

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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.