Security State Bank - Benson, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 10, 1929
Location: Benson, Minnesota (45.315, -95.600)

Metadata

Model: gpt-5-mini
Short Digest: 8506bd39

Response Measures

None

Description

Article states the Security State Bank of Benson 'closed ... last June 10' and is paying a dividend to depositors in Feb 1930, indicating the bank closed permanently and is in receivership. I infer the closure date as 1929-06-10 because the article is dated 1930-02-08 and refers to 'last June 10.' Cause of the suspension/closure is not given in the excerpt.

Events (3)

1. June 10, 1929 Suspension

Cause Details: Article does not state a cause for the closure/suspension; only reports the bank closed on June 10.
Newspaper Excerpt: the bank closed last June 10
Source: newspapers

2. February 7, 1930 Other

Newspaper Excerpt: Checks totaling $38,232.59 were mailed Friday to depositors of the closed Security State Bank of Benson ... The checks represented the first dividend, for 10 per cent to be paid since the bank closed last June 10.
Source: newspapers

3. February 7, 1930 Receivership

Newspaper Excerpt: Checks ... were mailed Friday to depositors ... first dividend ... since the bank closed last June 10
Source: newspapers

Newspaper Articles (1)

1. February 8, 1930 Star Tribune Minneapolis, MN

Article from Star Tribune, February 8, 1930

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Article Text

CLOSED BENSON BANK PAYS FIRST DIVIDEND Checks totaling $38,232.59 were mailed Friday to depositors of the closed Security State Bank of Ben son, according to an announcement Veigel, commissioner banks The checks represented the first dividend, for 10 per cent to be paid since the bank closed last June 10.