First State Bank - Fergus Falls, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 2, 1931
Location: Fergus Falls, Minnesota (46.283, -96.078)

Metadata

Model: gpt-5-mini
Short Digest: f5da1bb3

Response Measures

None

Description

Article (dated 1931-12-04) reports the First State Bank 'closing' on Wednesday (Dec 2, 1931) and describes subsequent runs on other local banks. The item gives no information about the First State Bank reopening or receivership; I classify this as a suspension resulting in closure (suspension_closure) but the permanence/receivership is not explicitly stated in the article.

Events (1)

1. December 2, 1931 Suspension

Cause Details: Article states the bank 'closed' but gives no explicit reason for the First State Bank's closing; it may be related to local banking distress but not specified.
Newspaper Excerpt: Following closing of the First State bank Wednesday, depositors began a run on the American State bank
Source: newspapers

Newspaper Articles (1)

1. December 4, 1931 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, December 4, 1931

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Article Text

Scared Depositors Given Free Lunch . Fergus Falls, Minn., Dec. 4.-(AP)Alarmed depositors who Friday started a run on the First National bank because of the closing of two other local banks, not only received their money but also coffee and doughnuts. Following closing of the First State bank Wednesday, depositors began a run on the American State bank which, officials said, also closed because it did not have sufficient time to acquire cash to satisfy depositors' demands. Thursday the First National and the Fergus Falls National banks kept open until 6 o'clock paying depositors. Friday the run continued on both banks, with the First National passing out doughnuts and coffee to the line of waiting depositors.