Citizens State Bank - Argyle, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 1, 1922*
Location: Argyle, Minnesota (48.333, -96.821)

Metadata

Model: gpt-5-mini
Short Digest: 7c898280

Response Measures

None

Description

Article (Warren Sheaf, 1922-09-20) reports Citizens State Bank of Argyle was closed by the superintendent of banks and placed in the hands of a receiver. No run or depositor panic is mentioned. Closure appears to be by government action and a receiver (O. L. Melgaard) was appointed.

Events (3)

1. September 1, 1922* Receivership

Newspaper Excerpt: has been placed in the hands of a receiver. O. L. Melgaard has been appointed receiver, and is now in charge of the bank's affairs and making settlement of its accounts.
Source: newspapers

2. September 1, 1922* Suspension

Cause: Government Action
Cause Details: Closed by the superintendent of banks (regulatory action); bank placed in hands of a receiver
Newspaper Excerpt: The Citizens State Bank of Argyle which was closed last week by the superintendent of banks
Source: newspapers

3. * Other

Newspaper Excerpt: O. L. Melgaard has been appointed receiver, and is now in charge of the bank's affairs and making settlement of its accounts.
Source: newspapers

Newspaper Articles (1)

1. September 20, 1922 Warren Sheaf Warren, MN

Article from Warren Sheaf, September 20, 1922

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Article Text

ARGYLE From the Banner. A carload of North Dakota lignite coal arrived here last Friday and was soon disposed of to buyers anxious to have their bins stocked for the approaching winter. Miss Margaret Meisch went to Kennedy last Saturday to take up her duties as teacher of the 6th and 7th grades of the public schools of that place. Paul Marschalk and son passed thru Argyle last Saturday. Paul was doing a little campaigning for "Marschalk for senator" on the swing through Marshall county on their way to Crookston where his son took the train for Northfield. Wm. Rickell and one of his neighbors were attacked one day last week by an enraged bull belonging to a neighbor and were saved from being gored to death by the interference of a faithful collie dog and the use of a shot gun. Both the men were somewhat bruised up. The bull has already gone to the South St. Paul market. T. J. Imsdahl and family are here visiting at the home of Mr. and Mrs. Wm. Menzel, parents of Mrs. Imsdahl. Mr. Imsdahl recently resigned as manager of a co-operative store at Bruce, Wis., and has accepted a position as traveling salesman for a manufacturing concern. Miss Gladys Menzel who was clerking in the store managed by Mr. Imsdahl at Bruce returned home with them. Miss Adele Melgaard returned home last Thursday from a trip to Europe on which she spent most of the summer. She states that their party was royally entertained everywhere they went; they saw much wonderful scenery and had a grand trip throughout. Miss Melgaard left Tuesday for Wenatchee, Wash., to teach this term in the public schools of that city. Miss Marie Melgaard, who also made the European trip, stopped at New York. The Citizens State Bank of Argyle which was closed last week by the superintendent of banks has been placed in the hands of a receiver. O. L. Melgaard has been appointed receiver, and is now in charge of the bank's affairs and making settlement of its accounts.