Farmers State Bank (Wilmont, MN)

Episode Information

Episode UID
75106771494
Episode Type
Run β†’ Suspension β†’ Reopening
Bank Type
state
Bank ID
7510677 routing
Routing Number
75-1067
Start Date
June 21, 1924
Location
Wilmont, Minnesota (43.765, -95.827)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d807be37223dac51

Response Measures

None

Description

Run in June 1924 led to closing; bank plans to reopen by February 1925.

Events (3)

1. June 21, 1924 Run
Cause
Local Banks
Cause Details
Run was triggered by closing of the Citizen's State Bank at Worthington and connections between stockholders.
Measures
Bank was closed following heavy withdrawals.
Newspaper Excerpt
The Farmers State bank, at Wilmont, Minn., was closed as a result of a run brought about by the closing of the Citizen's State bank, at Worthington.
Source
newspapers
2. June 21, 1924 Suspension
Cause
Local Banks
Cause Details
Suspension/closure followed the run caused by another local bank's closing and shared interests.
Newspaper Excerpt
The Farmers State bank, at Wilmont, Minn., was closed as a result of a run
Source
newspapers
3. February 5, 1925 Reopening
Newspaper Excerpt
Plans have been completed for reopening of the Farmers State bank of this place.
Source
newspapers

Newspaper Articles (3)

Article from The Sioux City Journal, June 22, 1924

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Article Text

Run Closes State Bank. Ellsworth, Minn., June 21,β€”Special: The Farmers State bank, at Wilmont, Minn., was closed as a result of a run brought about by the closing of the Citizen's State bank, at Worthington. Stockholders in the Worthington bank were interested in the Wilmont institution it is said.


Article from Askov American, February 5, 1925

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Article Text

MINNESOTA NEWS Gaylord-Jay D. Utendorfer, prominent in banking circles in this v1. vicinity, has been elected viceprest. dent of the Reliance State Bank of Chicago. Barnum - Verified figures on chicken raising show that 12 farmers in the vicinity of Barnum and Mahtowa received checks for $100 or more for eggs in November. Nashwauk-The electorate of this village voted favorably for the construction of a Memorial building to be erected at once. The building will cost in the neighborhood of $100,000 and is in memory of the men who lost their lives during the World war. Bemidji - Bemidji school pupils who have not been vaccinated have been given their choice of being vaecinated Inside of three days from the date of exposure or being quarantined for a period of 21 days, according to Superintendent J. C. West. Canby-One of the most disastrous farm fires in this section in several years was that which destroyed the cattle barns on the form of Frank Chizek, southwest of Canby. Fifty. four head of thoroughbred Hereford cattle, including a bull valued at $600, seven head of horses, 13 head of brood sows, 2,500 bushels of oats, a large quantity of hay and some farm machinery was destroyed with the building. Sleepy Eye - Salvaging of grain from the Berkner elevator, which was destroyed by fire recently. has been completed and a new elevator soon will be built. Nine carloads of grain, which had been allowed to run onto the ground at the time of the fire, were shipped out as salvage. Little Falls - The first of the three power units now being installed at the Blanchard Rapids dam south of here has been completed and put into of eration. Wilmont - Plans have been completed for reopening of the Farmers State bank of this place.


Article from The Ely Miner, February 6, 1925

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Article Text

MINNESOTA NEWS Gaylord-Jay D. Utendorfer, prominent in banking circles in this vivicinity, has been elected vicepresident of the Reliance State Bank of Chicago. Barnum - Verified figures on chicken raising show that 12 farmers in the vicinity of Barnum and Mahtowa received checks for $100 or more for eggs in November. Nashwauk-The electorate of this village voted favorably for the construction of a Memorial building to be erected at once. The building will cost in the neighborhood of $100,000 and is in memory of the men who lost their lives during the World war. Bemidji - Bemidji school pupfls who have not been vaccinated have been given their choice of being vaccinated inside' of three days from the date of exposure or being quarantined for a period of 21 days, according to Superintendent J. C. West. Canby-One of the most disastrous farm fires in this section in several years was that which destroyed the cattle barns on the farm of Frank Chizek, southwest of Canby. Fiftyfour head of thoroughbred Hereford cattle, including a bull valued at $600, seven head of horses, 13 head of brood sows, 2,500 bushels of oats, a large quantity of hay and some farm machinery was destroyed with the building. Sleepy Eye - Salvaging of grain from the Berkner elevator, which was destroyed by fire recently, has been completed and a new elevator soon will be built. Nine carloads of grain, which had been allowed to run onto the ground at the time of the fire, were shipped out as salvage. Little Falls - The first of the three power units now being installed at the Blanchard Rapids dam south of here has been completed and put into op. eration. Wilmont - Plans have been completed for reopening of the Farmers State bank of this place.