8647. Osakis State Bank (Osakis, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1926*
Location
Osakis, Minnesota (45.867, -95.152)

Metadata

Model
gpt-5-mini
Short Digest
f76d35cc9f1ae448

Response Measures

None

Description

Articles state the Osakis State Bank closed its doors in 1926 and reference the receiver in charge and a suit against the State Banking Department in 1928. No article mentions a depositor run; closure appears to have been by official action and resulted in receivership and permanent closure.

Events (3)
1. January 1, 1926* Receivership
Newspaper Excerpt
the receiver in charge of the Osakis State Bank which closed its doors in 1926
Source
newspapers
2. January 1, 1926* Suspension
Cause
Government Action
Cause Details
Bank was closed and placed under a receiver by the State Banking Department in 1926 (official action).
Newspaper Excerpt
the Osakis State Bank which closed it doors in 1926
Source
newspapers
3. December 13, 1928 Other
Newspaper Excerpt
H. J. and D. B. Caughren Win Osakis Bank Case ... The suit was brought by Caughren's against the State banking department for breach of contract ... when the bank closed.
Source
newspapers

Newspaper Articles (2)
1. December 13, 1928 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, December 13, 1928

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Article Text

H. J. and D. B. Caughren Win Osakis Bank Case Are Given Verdict for $1,150 Against State Banking Department by District The civil action brought by H. J. and D. B. Caughren against the receiver in charge of the Osakis State Bank which closed it doors in 1926, was the last case tried at the adjourned term of Douglas county court at Alexandria last week and the verdict was not brought in until after Judge Cameron had left town. The jury awarded the plaintiffs judgment in the sum of $1,500. The suit was brought by Caughren's against the State banking department for breach of contract, the plaintiffs claiming that the Oskis State Bank had taken a tenyear lease of their banking house from them and five years were left to run when the bank closed. The plaintiffs had spent considerable sum of money in fixing up the building for banking purposes, and asked to be reimbursed, Ralph S. Thornton was attorney for the plaintiffs and Messrs. Leach & Swore appeared for the State Banking department.-Osakis Review.

2. December 13, 1928 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, December 13, 1928

Click image to open full size in new tab

Article Text

H. J. and D. B. Caughren Win Osakis Bank Case Are Given Verdict for $1,150 Against State Banking Department by District The civil action brought by H. J. and D. B. Caughren against the receiver in charge of the Osakis State Bank which closed it doors in 1926, was the last case tried at the adjourned term of Douglas county court at Alexandria last week and the verdict was not brought in until after Judge Cameron had left town. The jury awarded the plaintiffs judgment in the sum of $1,500. The suit was brought by Caughren's against the State banking department for breach of contract, the plaintiffs claiming that the Oskis State Bank had taken a tenyear lease of, their banking house from them and five years were left to run when the bank closed. The plaintiffs had spent considerable sum of money in fixing up the building for banking purposes, and asked to be reimbursed. Ralph S. Thornton was attorney for the plaintiffs and Messrs. Leach & Swore appeared for the State Banking ,department.-Osakis Review. Henry Otto, Sr., accompanied by Harry Boyer left Sauk Centre Frida enroute to Edinberg, Texas, where they will spend the remainder of the winter. Mr. Otto goes to Texas for the purpose of attending to his business interests. Mr. and Mrs. H. C. Lembke accompanied by A. J. Baurenfiend motored to Minneapolis this Thursday morning, where the two gentlemen attend the 10,000 Lakes Association meeting tomorrow. Mr. and Mrs. Lembke will also visit with their daughter and family, Mr. and Mrs. J. R. Hines.