8787. State Bank (Vesta, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 9, 1931
Location
Vesta, Minnesota (44.508, -95.416)

Metadata

Model
gpt-5-mini
Short Digest
b05816d5d57c9a3e

Response Measures

None

Description

Newspaper reports (dated June 9, 1931) state directors of the State Bank of Vesta shut their doors to conserve assets. No mention of any depositor run; action appears voluntary and resulted in closure. Limited detail; no receivership mentioned in these snippets.

Events (1)
1. June 9, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors voluntarily closed the bank 'to conserve assets' (shut their doors). No run or regulatory takeover reported in these articles.
Newspaper Excerpt
Directors of the State Bank of Vesta ... 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.