First National Bank - Little Falls, MN

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: national
Bank ID: 4034
Charter Number: 4034
Start Date: November 16, 1932
Location: Little Falls, Minnesota (45.976, -94.363)

Metadata

Model: gpt-5-mini
Short Digest: fbf0bb4d

Response Measures

Accommodated withdrawals, Full suspension

Other: Depositors agreed to draw savings on installment plan over five years.

Description

Article (St. Cloud Times 1932-11-16) describes a one-day closure/vacation by First National amid a bank fury and potential run sparked by closing of a small local bank; depositors agreed to stay and accept withdrawal on a five-year installment plan and the bank was reported in excellent condition and continuing operations.

Events (4)

1. May 15, 1889 Chartered

Source: historical_nic

2. November 16, 1932 Reopening

Newspaper Excerpt: The bank is said to be in excellent condition... The citizens of Little Falls are to be congratulated on their good sense.
Source: newspapers

3. November 16, 1932 Run

Cause: Local Banks
Cause Details: Closing of a small bank in Little Falls started the possibility of a run that affected First National.
Measures: Depositors signed up to stay with the bank and draw out their savings deposits on an installment plan covering five years.
Newspaper Excerpt: There was quite a bank fury at Little Falls, that reached over to Randall.
Source: newspapers

4. November 16, 1932 Suspension

Cause: Local Banks
Cause Details: Temporarily closed for a day in response to depositor agitation following the failure/closing of a small local bank.
Newspaper Excerpt: The First National, under management of Martin, took a day's vacation
Source: newspapers

Newspaper Articles (1)

1. November 16, 1932 St. Cloud Times Saint Cloud, MN

Article from St. Cloud Times, November 16, 1932

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Article Text

THE VALUE OF CONFIDENCE There was quite a bank fury at Little Falls, that reached over to Randall. The First National, under management of Martin, took a day's vacation, when the depositors signed up to stay with the bank and draw out their savings deposits on the installment plan, covering a term of five years. The bank is said to be in excellent condition, but no bank wants a run, and the confidence of the depositors was a tribute to Mr. Martin, regarded as one of the safest bankers in the state. The closing of a small bank in that city started the possibility of a run. The bank at Randall has been reopened, and the banking situation in our beloved up-river city is safe and sound. Many really solvent banks have been closed by a scare run, to the great loss of depositors. The citizens of Little Falls are to be congratulated on their good sense.