First National Bank - Brandon, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 10862
Charter Number: 10862
Start Date: August 2, 1928
Location: Brandon, Minnesota (45.965, -95.599)

Metadata

Model: gpt-5-mini
Short Digest: 8a021dd8

Response Measures

None

Receivership Details

Depositor recovery rate: 64.6%
Date receivership started: 1926-11-11
Date receivership terminated: 1929-10-31
Share of assets assessed as good: 12.7%
Share of assets assessed as doubtful: 44.8%
Share of assets assessed as worthless: 42.5%

Description

Articles (Aug 2, 1928) state that W. Leigh Cary was named receiver of the First National banks at Brandon and Alexander. No mention of a depositor run; receiver appointed implies closure/receivership.

Events (3)

1. June 16, 1916 Chartered

Source: historical_nic

2. November 11, 1926 Receivership

Source: historical_nic

3. August 2, 1928 Receivership

Newspaper Excerpt: W. Leigh Cary Named Receiver Brandon and Alexander; ... Mr. Cary has been appointed receiver of the First National banks at Brandon and Alexander.
Source: newspapers

Newspaper Articles (2)

1. August 2, 1928 St. Cloud Times Saint Cloud, MN

Article from St. Cloud Times, August 2, 1928

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Article Text

FORMER LOCAL BANKER GIVEN RECEIVERSHIP W. Leigh Cary Named Receiv= er Brandon and Alexander; Has Four Banks. W. Leigh Cary, former banker of this city and now of Benson, has received two additional receiverships of First National banks, it was announced today. Mr. Cary has been appointed re-

2. August 2, 1928 St. Cloud Times Saint Cloud, MN

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Article Text

ceiver of the First National banks at Brandon and Alexander. Mr. Cary will maintain offices at the four banks he is now receiver for, Glenwood, Benson, Brandon and Alexander, but will continue his residence at Benson. Frank Hinsley, formerly of the First National bank here, receiver for the banks at Brandon and Alexander, recently resigned, and Mr. Cary has been appointed in his place.