Article Text
MAY REOPEN BANK Portal, N. D., Dec. 18.-More than 40 depositors in the First International bank, which suspended three weeks ago, attended a meeting of
First International Bank (Portal, ND)
Episode Information
- Episode UID
77022471487- Episode Type
- Suspension → Closure
- Bank Type
- state
- Bank ID
-
7702247routing - Routing Number
77-0224- Start Date
- November 1, 1923*
- Location
- Portal, North Dakota (48.996, -102.550)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
7d12ca1452b39aa6
Response Measures
None
Description
Bank suspended in Nov 1923 and did not reopen under the same name; assets taken by reorganizers into a new bank.
Events (2)
1.
November 1, 1923*
Suspension
- Cause
- Macro News
- Cause Details
- Closed during a regional banking crisis that led to many bank failures/closings in the area; suspension occurred in November 1923 (about three weeks before Dec. 18, 1923).
- Newspaper Excerpt
- At a meeting held in the Commercial Club Hall for the purpose of reorganizing the First International bank, which was closed last November
- Source
- newspapers
2.
May 1, 1924
Other
- Newspaper Excerpt
- it is expected to open about May 1. The proposed bank will take over the bankable paper of the closed bank and will issue certificates of deposit to the depositors of the defunct bank, for the amount of paper taken over, it is expected to open about May 1.
- Source
- newspapers
Newspaper Articles (4)
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Article Text
TOWNS COMBINE TO BACK BANK Border Towns Quickly Subscribe Enough Stock Portal, N. D., March 19.-At a meeting held in the Commercial Club Hall for the purpose of reorganizing the First International bank, which was closed last November, it was decided to open a new bank under the name of "Union Bank of Portal." The proposed bank will take over the bankable paper of the closed bank and will issue certificates of deposit to the depositors of the defunct bank, for the amount of paper taken over, it is expected to open about May 1. The capital stock of the new bank was placed at $15,000.00 and this amount of stock was subscribed before the meeting closed at 11 p. m. The shareholders of the new bank are nearly all creditors of the old bank, comprised of business men on both sides of the boundary line, there being no bank in North Portal. The whirlwind subscription finish on Saturday night was the culmination of many weeks of uncertainty as to whether the bank would be re-organized or pass into the hands of a receiver. Certain recent changes in bank regulations in North Dakota, as a result of the financial crisis arising from so many closed banks, made it advisable to organize a new bank. Shortly after the closing of the First International bank the creditors had signed agreements not to withdraw deposits until a fixed time, should the bank re-open. These conditions will also apply to the new bank but are now effective by law without the signature of depositors.
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Article Text
TWO BURKE COUNTY BANKS CLOSE DOORS The business men and many farmers of Portal, N. D., North Portal and surrounding districts received their second financial shock within the past six months when the doors of the Portal State bank failed to apen its doors Tuesday morning. This has created a financial crisis, as with the closing of the First International bank of Portal last November more than $200,000 is now tied up in the only two banks at the border here. Business is almost at a standstill and no one appears to be in a position to say as to what the ultimate solution of the crisis will be. The Burke County State bank of Bowbells ceased to function last week. Monday morning the information was given out that operations had suspended. This is the second bank to close in the Burke county capital and one bank still remains open.
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Article Text
BANK AT PORTAL COMPLETES YEAR Portal N. D., Jan. Daley was e-elected president: F. M Ingle. vice president and C. H Mar shall. manager, of the Union bank of Portal the annual meeting of the shareholders which held Thursday night More than 90 per cent of the shareholders were present person or by proxy The financial statement showed a successful year's operations. $175.000 resources and total deposits of $150,621 The undivided profits for the year were $4,319.80 The advisory will consist of Joseph Hill and L. Grant, North Portal and Ballantyne, H. Kraand Halderson of Portal. A of thanks was tendered the 1925 board of directors and advisory The Union bank of Portal was organized more than year ago, following the closing of the Portal State and the First International banks There meeting of the depositors of the Portal State and the First banks, following the other bank meeting, and appointed to take up with the state bank receiver the matter of further protecting the interests of the depositors. Corporal Fryett, who has been in charge North Portal detachment the Royal Canadian Mounted Police the last 4½ years, leaves on Sunday for Shaunevon, Sask. to which town he has been transferred. Sergeant Camm of Shaunevon will take charge of the North Portal detachment. CANDO LODGES INSTALL Cando, Jan. Cando lodges installed officers during the week Among those installing were the Modern Neighbors, the Oddfellows and the Rebek