Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
8390. Farmers & Merchants National Bank (Cannon Falls, MN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 6704
- Charter Number
- 6704
- Start Date
- January 1, 1925*
- Location
- Cannon Falls, Minnesota (44.507, -92.905)
Metadata
- Model
- gpt-5-mini
- Short Digest
bf3f9c2bfc1cef42
Response Measures
None
Receivership Details
- Depositor recovery rate
- 43.2%
- Date receivership started
- 1925-12-17
- Date receivership terminated
- 1932-07-01
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 22.9%
- Share of assets assessed as doubtful
- 56.3%
- Share of assets assessed as worthless
- 20.9%
Description
Articles identify O. E. Gerber as Receiver of the Farmers & Merchants National Bank of Cannon Falls (1926 notices), and a 1928 AP story states the bank closed in 1925 and its former president was later charged with embezzlement. There is no mention of a depositor run in the snippets provided; the bank appears to have suspended/closed and a receiver was appointed. Cause for suspension/closure is bank-specific adverse information (embezzlement by the president).
Events (4)
1.
March 31, 1903
Chartered
- Source
- historical_nic
2.
January 1, 1925*
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed in 1925; later reporting links closure to alleged embezzlement by the bank's former president M. N. Gerven.
- Newspaper Excerpt
- M. N. Gerven, former president of the Farmers and Merchants National bank at Cannon Falls, Minn., before it closed in 1925, is at liberty under $20,000 bonds on a federal charge of embezzlement...
- Source
- newspapers
3.
December 17, 1925
Receivership
- Source
- historical_nic
4.
November 12, 1926
Receivership
- Newspaper Excerpt
- O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
- Source
- newspapers
Newspaper Articles (5)
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Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
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Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
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Article Text
O.E. GERBER, as Receiver of Farniers and Merchants National Bank of Cannon Falls, Minnesota, a corporation. Plaintiff,
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Article Text
Former Gopher State Banker Out on Bond Fargo. N. D., May 17.-(AP)M. N. Gerven, former president of the Farmers and Merchants National bank at Cannon Falls, Minn., before it closed in 1925, is at liberty under $20,000 bonds on a federal charge of embezzlement of $3,000. Gerven was arrested at Bisbee, N. D., by R. H. Walker, deputy U. S. marshal, for federal authorities in Minnesota where he was inditced upon complaint of the receiver of the Cannon Falls bank. When arraigned at Cando before U. S. Commssioner Charles Verritt, Gerven demanded a preliminary hearing which was set for May 25 at Cando.