9521. Farmers State Bank (Chokio, MN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
May 6, 1921
Location
Chokio, Minnesota (45.572, -96.173)

Metadata

Model
gpt-5-mini
Short Digest
32d03796

Response Measures

None

Description

Multiple contemporaneous newspaper reports (May 7, 1921) state the Farmers State Bank of Chokio suspended business because of depleted reserves. No run or receivership is mentioned; a meeting of stockholders/directors to attempt to re-establish the bank is referenced, so the episode is classified as a suspension with intent/possibility to reopen.

Events (1)
1. May 6, 1921 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depleted reserves cited by State Superintendent of Banks as reason for suspension.
Newspaper Excerpt
The Farmers' State bank of Chokio ... suspended business yesterday ... Depleted reserves is given as the reason for closing.
Source
newspapers

Newspaper Articles (5)
1. May 7, 1921 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, May 7, 1921

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Article Text

BANK CLOSES. St. Paul, Minn., May 7.-The Farmers' State bank of Chokio, capitalized at $15,000, suspended business yesterday, according to an announcement made today by S. B. Duea, state superintendent of banks. Depleted reserves is given as the reason for closing. A meeting of stockholders and directors will be held within a few days when an attempt will be made to re-establish the bank.

2. May 8, 1921 New-York Tribune New York, NY
Article from New-York Tribune, May 8, 1921

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Article Text

Minesota Bank Suspends ST. PAUL, May 7.- The Farmers' State Bank of Chokio, capitalized at $15,000, has suspended business, it was announced to-day by S. B. Duea, State Superintendent of Banks. Depleted reserves was given as the reason for closing.

3. May 8, 1921 Pueblo Chieftain Pueblo, CO
Article from Pueblo Chieftain, May 8, 1921

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Article Text

BANK CLOSES DOORS St. Paul, Minn.. May 7.-The Farmers State bank of Chokio. capitalized at $15,000 suspended business yesterday according to an announcement made here today. Depleted reserves is given as the reason.

4. May 8, 1921 The New York Herald New York, NY
Article from The New York Herald, May 8, 1921

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Article Text

SUGAR STOCKS. Bld. Ask. Bid. Ask. 76 30 Godch S pf 72 Caracas : 25 125 June Cent.. 75 69 C Aguirre. 66 20 Mat-Am ... 10 5 Central ... 4 35 28 do pf.... 25 do pf.... 20 10 84 Michigan... 7 Fajardo : 80 118 National ..114 101 Federal : - 96 250 N Niquero.200 Gt West...225 25 Savannah.. 20 106 do pf....100 61 24 do DI.... 58 Godch'x S. 20 BANK IN CHOKIO CLOSES. ST. PAUL, May 7.-The Farmers State Bank of Chokio, capitalized at $15,000, has suspended business, it was announced to-day by S. B. Duea, State Superintendent of Banks. Its depleted reserves was given as the reason for the closing.

5. May 8, 1921 Bisbee Daily Review Bisbee, AZ
Article from Bisbee Daily Review, May 8, 1921

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Article Text

BANK SUSPENDS ST. PAUL, May 7.-The Farmers State Bank of Chokie, capitalized at $15,000, suspended business yesterday, according to an announcement made here today. Depleted reserves is given as the reason.