8531. Madison State Bank (Madison, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 9, 1931
Location
Madison, Minnesota (45.010, -96.196)

Metadata

Model
gpt-5-mini
Short Digest
82720b335a2495df

Response Measures

None

Description

Two contemporaneous articles (dated June 9–10, 1931) report the Madison State Bank 'shut their doors' / 'closed today' to 'conserve assets.' No mention of a depositor run is given; the bank suspended and appears to have closed. The articles do not mention a receiver or reopening.

Events (1)
1. June 9, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors announced the bank 'shut their doors' to 'conserve assets' (voluntary suspension/closure).
Newspaper Excerpt
...Madison State Bank said they had shut their doors to conserve assets.
Source
newspapers

Newspaper Articles (2)
1. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 10, 1931

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Article Text

THREE MORE CLOSE St. Paul, Minn June 9. Three Minnesota banks with total deposits of $1. 170,000 closed today Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to serve

2. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 10, 1931

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Article Text

THREE MORE CLOSE Three Minnesota banks with total deposits of $1,470,000 closed today. Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to conserve assets.