Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
9516. Farmers & Merchants National Bank (Cannon Falls, MN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 6704
- Charter Number
- 6704
- Start Date
- January 1, 1925*
- Location
- Cannon Falls, Minnesota (44.507, -92.905)
Metadata
- Model
- gpt-5-mini
- Short Digest
4ed0193d
Response Measures
None
Receivership Details
- Depositor recovery rate
- 43.2%
- Date receivership started
- 1925-12-17
- Date receivership terminated
- 1932-07-01
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 22.9%
- Share of assets assessed as doubtful
- 56.3%
- Share of assets assessed as worthless
- 20.9%
Description
No article describes a depositor run. Articles show the bank closed in 1925 and later legal notices (1926) identify O. E. Gerber as receiver; a 1928 AP item references the former president indicted for embezzlement. This indicates the bank suspended/failed (closed) and entered receivership, with bank-specific adverse information (embezzlement) implicated.
Events (8)
1.
March 31, 1903
Chartered
- Source
- historical_nic
2.
January 1, 1925*
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed in 1925 following problems later connected to alleged embezzlement by the former president; closure appears tied to bank-specific insolvency/scandal.
- Newspaper Excerpt
- before it closed in 1925
- Source
- newspapers
3.
December 17, 1925
Receivership
- Source
- historical_nic
4.
November 12, 1926
Receivership
- Newspaper Excerpt
- O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
- Source
- newspapers
5.
November 19, 1926
Receivership
- Newspaper Excerpt
- O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
- Source
- newspapers
6.
November 26, 1926
Receivership
- Newspaper Excerpt
- O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
- Source
- newspapers
7.
December 3, 1926
Receivership
- Newspaper Excerpt
- O.E. GERBER, as Receiver of Farniers and Merchants National Bank of Cannon Falls, Minnesota, a corporation. Plaintiff,
- Source
- newspapers
8.
May 17, 1928
Other
- Newspaper Excerpt
- M. N. Gerven, former president of the Farmers and Merchants National bank at Cannon Falls, Minn., before it closed in 1925, is at liberty under $20,000 bonds on a federal charge of embezzlement of $3,000.
- Source
- newspapers
Newspaper Articles (5)
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Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
Click image to open full size in new tab
Article Text
O. E. GERBER, as Receiver of Farmers and Merchants National Bank of Cannon Falls, Minnesota, a corporation, Plaintiff,
Click image to open full size in new tab
Article Text
O.E. GERBER, as Receiver of Farniers and Merchants National Bank of Cannon Falls, Minnesota, a corporation. Plaintiff,
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Article Text
Former Gopher State Banker Out on Bond Fargo. N. D., May 17.-(AP)M. N. Gerven, former president of the Farmers and Merchants National bank at Cannon Falls, Minn., before it closed in 1925, is at liberty under $20,000 bonds on a federal charge of embezzlement of $3,000. Gerven was arrested at Bisbee, N. D., by R. H. Walker, deputy U. S. marshal, for federal authorities in Minnesota where he was inditced upon complaint of the receiver of the Cannon Falls bank. When arraigned at Cando before U. S. Commssioner Charles Verritt, Gerven demanded a preliminary hearing which was set for May 25 at Cando.