9547. First National Bank (Detroit, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3426
Charter Number
3426
Start Date
November 27, 1897
Location
Detroit, Minnesota

Metadata

Model
gpt-5-mini
Short Digest
60d2ec8b

Response Measures

None

Receivership Details

Depositor recovery rate
40.5%
Date receivership started
1926-11-23
Date receivership terminated
1931-10-24
OCC cause of failure
Governance
Share of assets assessed as good
25.7%
Share of assets assessed as doubtful
56.2%
Share of assets assessed as worthless
18.1%

Description

Articles (Nov–Dec 1897) identify W. H. Yardley as receiver of First National Bank, Detroit, Minnesota. No mention of a depositor run in the provided items; receivership implies the bank was closed and placed in receivership (permanent closure). Dates taken from the newspaper publication dates which mention the receiver.

Events (3)

1. December 29, 1885 Chartered
Source
historical_nic
2. November 27, 1897 Receivership
Newspaper Excerpt
W. H. Yardley, as receiver First National Bank Detroit, Minnesota
Source
newspapers
3. November 23, 1926 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from The Saint Paul Globe, November 27, 1897

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF Ramsey-District Court, Second Judicial District. Alpheus B. Stickney, as assignee of William Dawson, insolvent, plaintiff, vs. John J. Cullen, Mollie C. Cullen, his wife: Charles H. Houlton and — Houlton, his wife, whose first name is unknown; T. L. Blood, as assignee of William Dawson Jr., insolvent; William Dawson Jr. and Maria R. Dawson, his wife; W. H. Yardley, as receiver First National Bank Detroit, Minnesota: Robert D. Stewart, Katherine Stewart, Margaret Schutte, Mechanics' National Bank New York, Fort Dearborn National Bank of Chicago, and The Iowa Land Company "Limited," defendants. The State of Minnesota, to the above named defendants: You, and each of you, are hereby summoned and required to answer the complaint in the above entitled action, a copy of which is herewith served upon you, and to serve a copy of your answer to the said complaint on the subscriber at his office in Room 604 New York Life building, in the City of St. Paul, County of Ramsey, and State of Minnesota, within twenty days after the service of this summons upon you, exclusive of the day of such service, and if you fail to answer the said complaint within the time aforesaid, the plaintiff in this action will apply to the court for the relief demanded therein. ASA G. BRIGGS, Plaintiff's Attorney.


Article from The Saint Paul Globe, December 4, 1897

Click image to open full size in new tab

Article Text

STATE OF MINNESOTA, COUNTY OF Ramsey-District Court, Second Judicial District. Alpheus B. Stickney, as assignee of William Dawson, insolvent, plaintiff, vs. John J. Cullen, Mollie C. Cullen, his wife; Charles H. Houlton and Houlton, his wife, whose first name is unknown; T. L. Blood, as assignee of William Dawson Jr., insolvent; William Dawson Jr. and Maria R. Dawson, his wife; W. H. Yardley, as receiver First National Bank Detroit, Minnesota; Robert D. Stewart, Katherine Stewart, Margaret Schutte, Mechanics' National Bank New York, Fort Dearborn National Bank of Chicago, and The Iowa Land Company "Limited," defendants. The State of Minnesota, to the above named defendants: You, and each of you, are hereby summoned and required to answer the complaint in the above entitled action, a copy of which is herewith served upon you, and to serve a copy of your answer to the said complaint on the subscriber at his office in Room 604 New York Life building, in the City of St. Paul, County of Ramsey, and State of Minnesota, within twenty days after the service of this summons upon you, exclusive of the day of such service, and if you fail to answer the said complaint within the time aforesaid, the plaintiff in this action will apply to the court for the relief demanded therein. ASA G. BRIGGS, Plaintiff's Attorney.