Farmers State Bank (Kandiyohi, MN)

Episode Information

Episode UID
75080671454
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
7508067 routing
Routing Number
75-0806
Start Date
February 23, 1921
Location
Kandiyohi, Minnesota (45.132, -94.931)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1f182895794b1987

Response Measures

None

Description

Articles describe large shortages and a criminal conviction but do not explicitly give the suspension/closing date or administrative receiver details.

Events (2)

1. February 23, 1921 Other
Newspaper Excerpt
robbery ... Farmers State Bank of Kandiyohi ... $868 pocketed by bandit Henry E. Wheeler and employees locked in vault; bandit later captured
Source
newspapers
2. October 21, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large shortages/embezzlement and losses (approx. $386,000) tied to financier R. Fletcher Stene that led to the banks' failure.
Newspaper Excerpt
losses from the two banks amounting to $386,000...Stene pleaded guilty
Source
newspapers

Newspaper Articles (2)

Article from Willmar Tribune, February 23, 1921

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Article Text

Cashier and Assistant Locked in Vault After Robber Pockets Currency Totalling $868. Shows Some Nervousness CAPTURED SIX HOURS AFTER THE ROBBERY Hires Four Cars in Relay Attempt to Escape. Features Recognized by Sheriff After ordering the assistant cashier Here he secured a ride to Benson to gather up for him all the visible from a mail carrier who shared his currency on the counters of the Farmseat with him. It was on the road beers State Bank of Kandiyohi, a bantween Benson and DeGraff that Wheeldit who entered the bank shortly beer was apprehended. In the meantime the alarm had been sounded. fore eleven o'clock Thursday morning Cashier Quam had observed the forced Cashier Ed. Quam and his asbandit enter the bank at one time presistant Miss Elsie Blomquist into the vious to his attack and inquired abbank vault, locking the same after out a wire, As the bank was busy with several patrons Wheeler did not their entrance. With a total sum of dare stage the hold-up. The second $868 pocketed he hurridly left the time he came in the last patron at bank and sought by a relay automothe time was leaving. Wheeler folSix lowed him to the front entrance and bile flight to evade capture. locked the door after him. Then he hours later he sat in Sheriff Gilbert entered where the employees were son's office at Benson awaiting the busy and at the point of a 22 calibre arrival of Sheriff Bonde of Kandiyopistol forced his victims into the hi county in whose custody he was vault. First he locked Quam within and after securing his haul he ordertaken to Willmar where he is now ed the young lady also to enter after lodged in the County Jail. which he locked the combination. It is learned that the bandit, who When the bandit had left Quam was identified as Henry E. Wheeler sought to excavate a hole thru the brick wall. This was a laborious and formerly a salesman for the Oldsmoungrateful task and SQ it was abanbile concern in Minneapolis, arrived doned. With the aid of a screw drivin Willmar on Monday. As he passed er which fortunately was found in the vault, he worked the thru Kandiyohi his search for a bankcombination and released it. They ing institution was attracted to the had been imprisoned for an hour and Farmers State Bank which he on the a half. The small room was dense moment determined to raid. He staywith dust which almost smothered the inmates. ed in Willmar until Wednesday at 3 Sheriff Bonde was notified at once. P. M. when he boarded No. 14 planHe in turn notified the local police ning upon robbing the bank at the and authorities in surrounding counhour of four in the afternoon of the ties to be on the alert. Chief of Posame day. When he stepped off at lice Westgard scrutinized train passengers during the afternoon but it his destination he headed for the was discovered later that he had used bank only to find its doors closed. He the automobile to get away. McDerregistered shortly after that at a hotel mott was found and related his story Sheriff Bonde immediately wired where he inquired as to the cause of Sheriff Gilbertson at Benson and the early closing of the bank. He was stated his beliefs as to the route takinformed that in respect for the late en by the bandit. Pete then set off Frank A. Nelson whose burial took hot on the trail for Benson. A party at DeGraff notified Bonde that a mail place that afternoon the bank had decarrier had taken Wheeler to Benson cided to suspend business for the whereupon the sheriff at high speed day. Wheeler engaged a room and set off in pursuit to head the bandit instructed the clerk to call him at 8 off at that place. At four o'clock the mail carrier and in the morning. He remained in his Wheeler were driving on the road to room the remainder of the afternoon Benson when Sheriff Gilbertson met and evening evidently as not to atthem. The sheriff glanced thru the tract too much attention. window of the car and instantly recognized the features of the bandit, On Thursday morning he called which description had been furnished William McDermott, the livery man, him by Bonde. Gilbertson, unobserand stated he wanted to be taken to ved, turned his car about and followed Atwater in a space of an hour or the mail carrier into Benson where he thereabouts. McDermott was held arrested Wheeler, He was disarmed. In the office of the Sheriff he secretly waiting for some time but the delay tossed the bills behind a radiator in was explained by the stranger as due the room. It was not discovered until to the late arrival of a message which he confessed the act to Sheriff Bonde he was to receive at the bank, the while on the way here from Benson. Bonde took Wheeler down to Kandy same to come from Miles City, Mont. where he was identified by the bank The bandit introduced himself as a employees. stock investor and said he needed $50 The lost parcel of bills was found as the bandit had said and contained which he must have before proceed$802 in bills. There were 16 20-doling to Atwater. Finally about eleven lar bills, 16 10-dollar bills, 56 5-dollar o'clock he approached the waiting Mcbills, 3 2-dollar bills, and 36 1-dollar Dermott and told him to crank up. bills. The remaining currency was of silver denominations. The bank He appeared calm and under comwas protected by the National Surety plete self-control at the time, While Company of New York City, a repreMcDermott was having difficulty in sentative of which. Harry Lauer, incranking the machine, the stranger terviewed the bank the following day. It was found that the bandit stood at his side peacefully enjoying had expended $34 during his wild trip. a cigarette. The bandit then inquired The sum of $834 will be claimed by which was the best riding road, the the bank and has been granted by one to Atwater or the one to Willthe Surety Company. Charles D. Brown of the Minnesota Bankers' mar and McDermott suggested the Protection Association also visited Willmar highway with its excellent the bank professionally. paving. The bandit decided upon that Wheeler was arraigned before Munroad. A few minutes later they left icipal Judge Muller Saturday at 11 for Willmar arriving here at twelve. a. m. He was bound over to the Grand Jury which convenes in March. The bandit ordered McDermott to let He is an inmate of the county jail at him off near the Handy-Lewis garage present. and meet him again at 3 p. m. at the Wheeler is considered a doubtful Motor Inn on Litchfield Ave. Mccharacter. He has deserted his wife who resides at 1238 First Avenue So., Dermott complied. The bandit did Minneapolis, Minnesota, and has asnot intend to keep the appointment sociated with another woman, it is but called at the Handy-Lewis garage charged. His many pressing bills for'a car to take him at once to Penforced him to resort to crime, Wheeler stated. Since he left his wife in nock pretending he was on an urgent April he has visited her only occabusiness errand. Louis Reamer drove sionally. In a letter received from the car which reached Pennock shorther Monday nforning, she states that ly before one o'clock. The bandit sat the divorce which he has asked for will now be granted. His wife is emin the front seat with Reamer and ployed at the Ideal Laundry in Minneconversed quite freely. He said he apolis. Wheeler occupied rooms at contemplated taking the train at Pen2023 Fourth Avenue So. He had told nock so asked to be driven there. Afhis wife that he was going to Williston, N. D., to secure a loan from his ter letting off his passenger at the father residing there. Mrs. Wheeler station Reamer turned about for Willstated that her husband is a high mar and did not perceive that Wheelschool and normal graduate of Austin in this state. He was born at er left the station bound for a garage where he hired a car for KerkOwatonna 26 years ago. He worked hoven still further Northwest, Aras machinist and automobile salesriving at Kerkhoven he repeated his man until a short time ago said his wife. tactics and hired a car for DeGraff.


Article from The Austin Daily Herald, October 21, 1925

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Article Text

Atwater Financier Pleads 34 Minneapolis, Oct. Stene, former president of the First National Bank of Atwater and the Farmers State Bank of Kandiyohi sentenced to 25 years imprisonment place to be designated by the the United States" by District Judge Joseph W. Molyneaux in federal court in Minneapolis today. The sentence followed investigation by federal and state authorities which disclosed losses from the two banks amounting to $386,000. Stene's sentence resulted from lossthe National Bank at Atwater amounting to $286,000 for which ne indicted on counts. Mr. Stene 63 old and years most totally deaf. Stene pleaded guilty to the counts. In statement read by his attorney R. Fletcher Stene described himself as victim of the extravagance of business men of his community and of his own indulgence. want to know that profited in any way in the failure of these banks," said, want to explain to in detail where the you money went. Every dollar of shortage in these banks due loans which have been not