Gregory National Bank (Gregory, SD)

View Charter #9377 on SPMC View balance sheet

Episode Information

Episode UID
937701511
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
93770 national
Charter Number
9377
Start Date
November 5, 1925
Location
Gregory, South Dakota (43.234, -99.429)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1aa4d4a7ef1c9ade

Response Measures

None

Receivership Details

Depositor recovery rate
29.0%
Date receivership started
1925-11-25
Date receivership terminated
1935-12-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
54.2%
Share of assets assessed as doubtful
42.1%
Share of assets assessed as worthless
3.7%

Events (4)
1. April 3, 1909 Chartered
Source
historical_nic
2. November 5, 1925 Suspension
Cause
Local Banks
Cause Details
Panic condition in the Rosebud country prompted several banks to close temporarily to conserve resources.
Newspaper Excerpt
Gregory National bank closed today.
Source
newspapers
3. November 25, 1925 Receivership
Source
historical_nic
4. December 11, 1925 Receivership
Newspaper Excerpt
Perry Peters...has been appointed receiver of the closed Gregory National bank at Gregory, S. D.
Source
newspapers

Newspaper Articles (3)
1. November 5, 1925 The McCook Daily Gazette McCook, NE
Article from The McCook Daily Gazette, November 5, 1925

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Article Text

BANKS IN SOUTH DAKOTA CLOSING Panic Condition Responsible For Several Temporary Bank Suspensions Norfolk, Neb., Nov. 5.—(United Press)—In order to conserve their resources during a situation that has arisen in the Rosebud country of South Dakota, several banks in that part of the state closed their doors simultaneously today, for temporary readjustment of conditions, it was said here. Two banks at Bonesteel, after a temporary moratorium declared yesterday morning closed today. In addition a bank closed at St. Charles, the Burk state bank, and Gregory National bank closed today. Representatives of the state banking department in the Rosebud country were working with local bankers in an effort to remedy the situation.

2. December 12, 1925 The Albert Lea Tribune Albert Lea, MN
Article from The Albert Lea Tribune, December 12, 1925

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Article Text

Named Bank Receiver (By Associated Press.) Aberdeen, S. D., Dec. 11.—Perry Peters, Aberdeen, has been appointed receiver of the closed Gregory National bank at Gregory, S. D.

3. August 4, 1928 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, August 4, 1928

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Article Text

ELLIOTT DENIES PREFERRED Sinclair Refining Company Sues Gregory Bank Receiver Federal Judge D. Elliott today handed down decision in the case of the Sinclair Refining against Perry Peters as receiver for the GregNational bank which he disalclaim the company but allowed general refining asking plus protest On October 16, 1925, according to the the case, the plaintiff sold carload gasoline to the Wells company of Gregory and drew draft them and sent through the bank checks bank Butte, which Citizens National bank at Butte for draft in was issued the tional bank and was deposited in the Omaha National and the South Dakota bank this credit of on October was increased October 31, and on Gregory National bank closed its doors and taken the the overdraft in the Omaha bank being Bailey and Voorhees, Sioux Falls, and William Allen, are neys for the and Charles Dervis, Fairfax, represents the defendant.