First National Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 6054
Charter Number: 6054
Start Date: October 1, 1926*
Location: Fulda, Minnesota (43.871, -95.600)

Metadata

Model: gpt-5-mini
Short Digest: 8b964f02

Response Measures

None

Receivership Details

Depositor recovery rate: 40.4%
Date receivership started: 1926-10-07
Date receivership terminated: 1930-10-31
OCC cause of failure: Economic conditions
Share of assets assessed as good: 20.5%
Share of assets assessed as doubtful: 47.7%
Share of assets assessed as worthless: 31.8%

Description

Articles indicate the First National Bank of Fulda closed in October 1926 and remained closed; a receiver (Charles F. Knapp) was named Feb 15, 1927. Later items (1928) discuss recovery of stolen bank books and a dividend paid out to depositors of the closed bank. No article describes a depositor run prior to suspension.

Events (6)

1. December 19, 1901 Chartered

Source: historical_nic

2. October 1, 1926* Suspension

Cause Details: Article states the bank has been closed since October 1926 but gives no specific reason for suspension in the provided excerpts.
Newspaper Excerpt: The bank been closed since October 1926.
Source: newspapers

3. October 7, 1926 Receivership

Source: historical_nic

4. February 15, 1927 Receivership

Newspaper Excerpt: Charles F. Knapp, of Minneapolis, has been named receiver of the closed First National bank here to succeed Examiner J. Bina.
Source: newspapers

5. July 1, 1928* Other

Newspaper Excerpt: Books Are Discovered on Bottom of a Lake Near Fulda... get the stolen bank books records First National bank of which closed May and the bank broken into and books stolen May... All books and records have been badly watersoaked, but after drying were found legible.
Source: newspapers

6. October 15, 1928 Other

Newspaper Excerpt: Depositors the closed First tional Fulda, dividend cent and checks for be handed out the bank by Harry Hard... The bank been closed since October 1926.
Source: newspapers

Newspaper Articles (3)

1. February 16, 1927 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, February 16, 1927

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Article Text

supplied with an abundance of moisture, and heavy blanket of during November and which kept the frost from penetrating very far, has created very promising soll conditions. Evidence of shallow frost in the soil is found in swelling buds on willow and maple trees. Cars Wrecked by Crash. Fulda, Minn., Feb. 15.-Special: Two automobiles, one belonging to Fred Ramert and the other Peterson, collided on the road four miles north of The Ramert coupe demolished while the Peterson car had a front both escaped with only slight injuries. Bank Receiver Named. cial: Charles F. Knapp, of Minneapolis, has been named receiver of the closed First National bank here to succeed Examiner J. Bina. School Head Re-Elected. cial: Patchin: 11 years super intendent of the public has been re-elected year term.

2. July 12, 1928 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, July 12, 1928

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Article Text

FINDS STOLEN BANK RECORDS Books Are Discovered on Bottom of a Lake Near Fulda. Minn.. July George Rauenhorst, commercial fisherman of Fulda, under supervision of R. W. Goodheart, special National bank examiner, Washington, D. C., finished seining Fulda lake, seining having done get the stolen bank books records First National bank of which closed May and the bank broken into and books stolen May All books and records have been badly watersoaked, but after drying were found legible. clew the of the missing books found two weeks ago when John Cosgriff found one of them on the shore of the lake, and since loose leaves have been found. The books and papers had been put into bags down with The brief case, property of Examwhich was stolen the other was special audit of the books being by Fulda. to determine the motive for the theft of the books. No reward for the recovery the books was offered. PIPESTONE GETS AUDITION IN MINNESOTA MUSICAL CONTEST Minneapolis, Minn., July Aspiring both sexes in Minnesota be heard In preliminary in their towns prior to state national trials in the second radio audition. According to tentative plans, preliminary will be held Willmar Red Wing, St. Cloud. Owa tonna, Little Falls, Fergus Falls. Albert Lea, Duluth. Mankato, Virginia, Brainerd, PipeHast Ings and the Twin citles in SeptemPrizes totaling $17,500 offered winners the contest. Six musical scholarships are offered as additional inducement to entries. One boy and one winners the state will go to Chicago in to station which broadcast the middle west In December It planned to have the 10 winners from districts into which the United States has been divided in fin als for two first prizes of each Other prizes also are offered In the national contest.

3. October 15, 1928 The Sioux City Journal Sioux City, IA

Article from The Sioux City Journal, October 15, 1928

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Article Text

TOWN WILL VOTE ON SHOWS ON SUNDAYS Dawson, Minn., Oct. Should motion picture be shown Gov. Christianson's home town on Sundays? This question voters of this city will be asked decide at the general election in November council ordered that special held. bearing 172 names sented council protesting against Sunday shows in Dawson. Closed Bank Paying Dividend. Fulda, Minn., Oct. Depositors the closed First tional Fulda, dividend cent and checks for be handed out the bank by Harry Harddividend paid out the one paid in for 10 cent. per The bank been closed since October 1926. Youth Blames Pal. Slayton. Minn., Oct. Peter Chandler, charged stealing, told Judge Nelson in district that he led into his escapades by in Cloud for the same fense, Judge Nelson sentenced Boersma to Cloud institubut his sentence May which time Boersma must appear before Judge Nelson court here.