Farmers National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 7770
Charter Number: 7770
Start Date: March 20, 1931
Location: Luverne, Minnesota (43.654, -96.213)

Metadata

Model: gpt-5-mini
Short Digest: 42169f77

Response Measures

Full suspension, Books examined

Other: Multiple OCR errors corrected: text refers to Luverne First National Bank and Farmers National Bank; federal bank examiner to take charge.

Description

Newspaper (Albert Lea Tribune) dated 1931-03-20 reports Luverne National Bank closed by order of its directors because of 'heavy withdrawals'; a federal bank examiner was to take charge. This indicates a run leading to suspension/closure and placement under examiner/receiver. OCR errors in the snippet were corrected for clarity.

Events (5)

1. June 3, 1905 Chartered

Source: historical_nic

2. March 25, 1925 Voluntary Liquidation

Source: historical_nic

3. March 20, 1931 Receivership

Newspaper Excerpt: federal bank examiner to take charge.
Source: newspapers

4. March 20, 1931 Run

Cause Details: Heavy withdrawals (run) prompted directors to close the bank; no specific rumor or external bank failure mentioned.
Measures: Directors ordered the bank to close; federal bank examiner to take charge.
Newspaper Excerpt: Heavy withdrawals given reason for the [closure].
Source: newspapers

5. March 20, 1931 Suspension

Cause Details: Bank closed by order of its directors following heavy withdrawals; examiner placed in charge.
Newspaper Excerpt: Luverne National Bank Closes ... open today order of its directors. federal bank examiner to take charge.
Source: newspapers

Newspaper Articles (1)

1. March 20, 1931 The Albert Lea Tribune Albert Lea, MN

Article from The Albert Lea Tribune, March 20, 1931

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Article Text

Luverne National Bank Closes Luverne, March and Farmers National Bank First failed to for busiLuverne open today order of its directors. federal bank examiner to take charge. Heavy withdrawals given reason for the Plans for organizing bank were considered.