9533. Columbia National Bank (Columbia Heights, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
13114
Charter Number
13114
Start Date
October 23, 1932
Location
Columbia Heights, Minnesota (45.041, -93.263)

Metadata

Model
gpt-5-mini
Short Digest
123527a1

Response Measures

None

Receivership Details

Depositor recovery rate
71.5%
Date receivership started
1932-06-21
Date receivership terminated
1937-03-25
Share of assets assessed as good
3.5%
Share of assets assessed as doubtful
96.3%
Share of assets assessed as worthless
0.2%

Description

Newspaper items indicate Columbia National Bank of Columbia Heights was listed as '(receiver)' by Oct 23, 1932 (Star Tribune). No article describes a depositor run; the bank was in receivership (government action). A later RFC loan to the bank is reported March 12, 1934, consistent with a bank in receivership obtaining RFC assistance. Classification: suspension leading to permanent closure/receivership.

Events (5)

1. August 15, 1927 Chartered
Source
historical_nic
2. June 21, 1932 Receivership
Source
historical_nic
3. October 23, 1932 Receivership
Newspaper Excerpt
Columbia Heights, Columbia National bank, (receiver), $19 ... advances of the Columbia National bank at Columbia Heights ... were approved that the funds been disbursed.
Source
newspapers
4. October 23, 1932 Suspension
Cause
Government Action
Cause Details
Bank was placed in receivership (listed as 'receiver' in October 1932), indicating suspension/closure by authorities
Newspaper Excerpt
Columbia Heights, Columbia National bank, (receiver), $19
Source
newspapers
5. March 12, 1934 Other
Newspaper Excerpt
The Reconstruction Finance corporation announced ... Columbia National Bank of Columbia Heights, $15,000; ... loans to Minnesota banks during December, 1933.
Source
newspapers

Newspaper Articles (2)

Article from Star Tribune, October 23, 1932

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Article Text

GETR.F.C.CASH Two Twin Cities Institutions Among Those Given Loans in September. the Oct. to 28 banks in Minnesota authorized by the Finance corporation during the month of Sep. tember. This is shown by report body on government loans to banks and trust companies, building and loan associations and other nancial institutions all parts the country, with the clerk of the house of representatives Satur The list includes two Twin City banks. The Camden Park bank of Minneapolis was allotted and State bank St. Paul, $51,000. Minnesota loans range from $60,000 to $3,000, and with exception they were made at The report shows that advances of the Columbia National bank at Columbia Heights. and 000 for the Citizens National bank at Faribault were approved that the funds been disbursed. Other State Advances. Other advances Minnesota banks were: State Bank of Aurora, Aurora, $37,500; State Bank of Beroun, Beroun, $9,000; State Bank of Bigelow, Bigelow, First State bank at Carver, $8,500; State Bank of Cold Spring Cold $5 Farmers State bank, Guthrie, 000: Peoples' State bank, Harmony, $22,000: Farmers' State bank. Hay. ward. $12,500; State Bank of Kenyon, Kenyon, bank, Lafayette $15,000; Farmers' State ers' State bank. Madelia, $10,000: Security State bank. Pine Island, $16.000; Prior Lake State bank, Prior Lake, $5,500: Randall State bank, National bank, James, First State bank. Storden, $10,000; State bank, Taunton, First National bank Tyler, $42,000; Bank of Willmar, Willmar. $9,930; SecurFarmers' State bank. Jasper $3,000. North and South Dakota Advances for North Dakota banks authorized were: State bank at Ashley, $18,837: First National bank, Security bank $11,000; Farmers' Security bank Washburn, $8,000. The advances for the First National bank Buxton and the Farmers' Merchants bank at Brocket have not been disbursed. South Dakota- Bank of A1. cester Alcester. First Na 000: not disbursed: First State bank. 000: First State bank, Wolsey, $15,000. Loans in Minnesota. Loans during Septem ber banks and trust companies "exclusive of amounts withdrawn or cancelled during the month, were listed to include the following: State Bank of Aurora, State Bank of $9,000: Bigelow, State Bank of Bigelow, First State bank. $8,500 Cold Spring. State Bank of Cold Spring. $5,000; Columbia Heights, Columbia Nation al bank, (receiver), $19 Faribault, Citizens National bank, $60 ley. State Bank of Foley $7,000 Guthrie, Farmers State Bank curity State bank, Harmony, Peoples State bank. $22,000: Hay. ward, Farmers State Bank of Hay. State Bank of Jasper, $3,000: KenState Bank of State Bank of Madelia Inc., Bank of Pine Island. Securities State Bank Pine Island. $16 Prior Lake, Prior Lake State St. James, and Securities National St. Paul. East Side State Bank of St. Paul, $51 000; Storden. State Bank of Storden. $10,000: Taunton. State Bank of Taunton. 000: Tyler. First Na. tional Bank of Tyler. (receiver). $42.000: Willmar, Bank of Willmar, $9.930 North Dakota Ashley. Ashley National Bank of Buxton. Brocket, Farmers Merchants bank, $9,500; Underwood First Security bank, Washburn, Farmers Other loans authorized during Sep. tember to building and loan associations included: Algona, Iowa Algona Building & Loan association, $20,000 Des Moines, Iowa, Polk County Building & Loan association, $15,000; Marings Loan association. $100,000; Yankton Building & Loan association. $24,702.50.


Article from Star Tribune, March 13, 1934

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Article Text

R.F.C. Loans to City Banks Announced Washington, D.C., March 12.-(P) -The Reconstruction Finance cor. poration announced Monday $864,000 was loaned to Minnesota banks during December, 1933. The loans and banks follow: Anoka National bank (receiver), $20,000; Columbia National Bank of Columbia Heights, $15,000; Farmers & Merchants State bank, Dassel, $100,000; Ellendale State bank, Ellendale (repaid in full), $8,000; First National bank, Frazee (receiver), $30,000; Calhoun State bank, Minneapolis (receiver), $57,000; Harriet State bank. Minneapolis (receiver), $37,000; Penn Avenue State bank, Minneapolis (receiver), $32,000; Twenty Street State bank. Minneapolis (receiver) $40,000; State Bank & Trust Co., Redwood Falls (receiver) $320,000; Citizens State bank, St Paul (receiver), $15,000; Dayton's Bluff State bank. St. Paul (receiver), $150,000; First National of Westbrook (receiver), $40,000.