State Bank (Morgan, MN)

Episode Information

Episode UID
75049471598
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
7504947 routing
Routing Number
75-0494
Start Date
February 1, 1933*
Location
Morgan, Minnesota (44.417, -94.926)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
01372524d4d7230d

Response Measures

None

Events (3)
1. February 1, 1933* Run
Cause
Rumor Or Misinformation
Cause Details
General shaken confidence in late February prompted heavy withdrawals
Measures
Closed temporarily March 2 following heavy withdrawals
Newspaper Excerpt
Shaken confidence caused a run on the bank late in February
Source
newspapers
2. March 2, 1933 Suspension
Cause
Rumor Or Misinformation
Cause Details
Temporary closure following the late-February run and shaken depositor confidence; coordinated with state/national banking holiday
Newspaper Excerpt
it closed temporarily March 2, two days before the state and national bank holiday began
Source
newspapers
3. April 10, 1933 Reopening
Newspaper Excerpt
the State Bank of Morgan reopened for business Monday and took in $35,000 in new deposits the opening day, according to George M. Davis, president.
Source
newspapers

Newspaper Articles (2)
1. April 13, 1933 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, April 13, 1933

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Article Text

Morgan Bank Reopens; Gets $35,000 in Day The second bank in Redwood county to declare the holiday season over, the State Bank of Morgan reopened for business Monday and took in $35,000 in new deposits the opening day, according to George M. Davis, president. Following meetings of directors and depositors, agreements were reached which were approved by the state banking department. The re-opening of the bank is a boon to business not only in the immediate community but throughout the county. Shaken confidence caused a run on the bank late in February and it closed temporarily March 2, two days before the state and national bank holiday began. The amount of deposits received Tuesday is considered a positive sign that the troubles are over and the community again has confidence in its institution which was considered one of the strongest in this section of Minnesota.

2. April 13, 1933 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, April 13, 1933

Click image to open full size in new tab

Article Text

Morgan Bank Reopens; in Day The second bank in Redwood county to declare the holiday season over, the State Bank of Morgan reopened for business Monday and took in $35,000 in new deposits the opening day, according to George M. Davis, president. Following meetings of directors and depositors, agreements were reached which approved by the state banking department. The re-opening of the bank is boon to business not only in the immediate community but throughout the county. Shaken confidence caused run on the bank late in February and it closed temporarily March 2, two days before the state and national bank holiday began. The amount of deposits received Tuesday is considered positive sign that the troubles are over and the community again has confidence in its institution which was considered one of the strongest in this section of Minnesota.