First National Bank - Custer, SD

Episode Information

Episode UID: 78023171583
Episode Type: Run → Suspension → Closure
Bank Type: trust
Bank ID: 7802317 routing
Routing Number: 78-0231
Start Date: November 13, 1931
Location: Custer, South Dakota (43.767, -103.599)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 10d44eae099a64fd

Response Measures

None

Description

Examiner placed bank in charge; closure described as protective and tied to frozen assets and a run.

Events (2)

1. November 13, 1931 Run

Cause: Macro News
Cause Details: Withdrawals driven by general adverse economic conditions (frozen assets) producing heavy withdrawals over preceding days
Measures: None reported specifically; heavy withdrawals preceded closure
Newspaper Excerpt: a run that has taken great deal of cash from the bank the past few days
Source: newspapers

2. November 13, 1931 Suspension

Cause: Macro News
Cause Details: Frozen assets due to general economic conditions and the recent run; examiner closed bank to protect depositors
Newspaper Excerpt: The First National Bank of Custer failed to open this morning
Source: newspapers

Newspaper Articles (1)

1. November 13, 1931 Rapid City Journal Rapid City, SD

Article from Rapid City Journal, November 13, 1931

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Article Text

First National Bank Of Custer Is Closed The First National Bank of Custer failed to open this morning Walter W Olson national bank ex aminer in charge of the closed bank, gave as the reasons for the closing of the institution, frozen assets due to general conditions and a run that has taken great deal of cash from the bank the past few days The bank was closed to protect the depositors from further loss he stated Mr Olson said that the people of Custer themselves and get behind the other bank in Custer and keep open as an asset to the community provided the conditions of the bank were satisfactory The officers of the closed First National Bank of Custer are A. K. Thomas, Rapid City, president A S. Halley, Rapid City, vice president and Geo Havens, cashier