First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6054
Charter Number: 6054
Start Date: February 15, 1927
Location: Fulda, Minnesota (43.871, -95.600)

Metadata

Model: gpt-5-mini
Short Digest: 573de2ed42f8188a

Response Measures

None

Receivership Details

Depositor recovery rate: 40.4%
Date receivership started: 1926-10-07
Date receivership terminated: 1930-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 20.5%
Share of assets assessed as doubtful: 47.7%
Share of assets assessed as worthless: 31.8%

Description

Article (Sioux City Journal, Feb 16, 1927) reports the closed First National Bank of Fulda and that Charles F. Knapp was named receiver (Feb 15). No run or reopening is mentioned; receiver appointment implies permanent closure/receivership.

Events (3)

1. December 19, 1901 Chartered

Source: historical_nic

2. October 7, 1926 Receivership

Source: historical_nic

3. February 15, 1927 Receivership

Newspaper Excerpt: Charles F. Knapp, of Minneapolis, has been named receiver of the closed First National bank here to succeed Examiner J. Bina.
Source: newspapers

Newspaper Articles (1)

1. February 16, 1927 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, February 16, 1927

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Article Text

supplied with an abundance of moisture, and heavy blanket of during November and which kept the frost from penetrating very far, has created very promising soll conditions. Evidence of shallow frost in the soil is found in swelling buds on willow and maple trees. Cars Wrecked by Crash. Fulda, Minn., Feb. 15.-Special: Two automobiles, one belonging to Fred Ramert and the other Peterson, collided on the road four miles north of The Ramert coupe demolished while the Peterson car had a front both escaped with only slight injuries. Bank Receiver Named. cial: Charles F. Knapp, of Minneapolis, has been named receiver of the closed First National bank here to succeed Examiner J. Bina. School Head Re-Elected. cial: Patchin: 11 years super intendent of the public has been re-elected year term.