8384. First National Bank (Brandon, MN)

View Charter #10862 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10862
Charter Number
10862
Start Date
August 2, 1928
Location
Brandon, Minnesota (45.965, -95.599)

Metadata

Model
gpt-5-mini
Short Digest
bb097f189f8746eb

Response Measures

None

Receivership Details

Depositor recovery rate
64.6%
Date receivership started
1926-11-11
Date receivership terminated
1929-10-31
Share of assets assessed as good
12.7%
Share of assets assessed as doubtful
44.8%
Share of assets assessed as worthless
42.5%

Description

Articles (Aug 2, 1928) report appointment of W. Leigh Cary as receiver for the First National banks at Brandon and Alexander, indicating the bank was placed in receivership/closed. No mention of a depositor run or reopening; receiver replaced previous receiver Frank Hinsley.

Events (3)
1. June 16, 1916 Chartered
Source
historical_nic
2. November 11, 1926 Receivership
Source
historical_nic
3. August 2, 1928 Receivership
Newspaper Excerpt
W. Leigh Cary ... has received two additional receiverships of First National banks ... Mr. Cary has been appointed receiver of the First National banks at Brandon and Alexander. Mr. Cary will maintain offices at the four banks he is now receiver for, Glenwood, Benson, Brandon and Alexander ... Frank Hinsley, formerly of the First National bank here, receiver for the banks at Brandon and Alexander, recently resigned, and Mr. Cary has been appointed in his place.
Source
newspapers

Newspaper Articles (2)
1. August 2, 1928 St. Cloud Times Saint Cloud, MN
Article from St. Cloud Times, August 2, 1928

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Article Text

FORMER LOCAL BANKER GIVEN RECEIVERSHIP W. Leigh Cary Named Receiv= er Brandon and Alexander; Has Four Banks. W. Leigh Cary, former banker of this city and now of Benson, has received two additional receiverships of First National banks, it was announced today. Mr. Cary has been appointed re-

2. August 2, 1928 St. Cloud Times Saint Cloud, MN
Article from St. Cloud Times, August 2, 1928

Click image to open full size in new tab

Article Text

ceiver of the First National banks at Brandon and Alexander. Mr. Cary will maintain offices at the four banks he is now receiver for, Glenwood, Benson, Brandon and Alexander, but will continue his residence at Benson. Frank Hinsley, formerly of the First National bank here, receiver for the banks at Brandon and Alexander, recently resigned, and Mr. Cary has been appointed in his place.