Farmers State Bank - Cushing, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 14, 1930
Location: Cushing, Minnesota (46.140, -94.577)

Metadata

Model: gpt-5-mini
Short Digest: 7fb2b020

Response Measures

None

Description

Article (Moorhead Daily News, 1930-01-14) reports the Farmers State Bank of Cushing closed today by order of its board of directors because of poor paper, insufficient business, indicating a board-ordered suspension that appears permanent. OCR errors in the text (e.g., lack of serve the state banking commissionoffice) were present; interpreted as announcement by the state banking commission. No mention of a depositor run or reopening/receiver in the article.

Events (1)

1. January 14, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed by board due to poor paper (bad loans) and insufficient business, as announced to state banking commission.
Newspaper Excerpt: Farmers State Bank of Cushing, Minn., closed today by order of its board of directors because of poor paper, sufficient business.
Source: newspapers

Newspaper Articles (1)

1. January 14, 1930 Moorhead Daily News Moorhead, MN

Article from Moorhead Daily News, January 14, 1930

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Article Text

Cushing State Bank Closes Doors Today St. Paul, Jan. 14 Farmers State Bank of Cushing, Minn., closed today by order of its board of directors because of poor paper, sufficient business. and lack of serve the state banking commissionoffice announced. The bank had $10,000 capital, $1,000 surplus, and $17,000 deposits the last call.