9672. Madison State Bank (Madison, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 9, 1931
Location
Madison, Minnesota (45.010, -96.196)

Metadata

Model
gpt-5-mini
Short Digest
104b4f5b

Response Measures

None

Description

Articles (June 9, 1931) report the State Bank of Vesta shut their doors to conserve assets. No run is mentioned and the bank is reported closed; no reopening or receivership is described in the supplied snippets. Cause is not specified beyond the directors' action to conserve assets.

Events (1)
1. June 9, 1931 Suspension
Cause Details
Directors voluntarily shut doors to conserve assets; no specific rumor, correspondent failure, or government action mentioned.
Newspaper Excerpt
Directors of the State Bank of Vesta ... said they had shut their doors to conserve assets.
Source
newspapers

Newspaper Articles (2)
1. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 10, 1931

Click image to open full size in new tab

Article Text

THREE MORE CLOSE St. Paul, Minn June 9. Three Minnesota banks with total deposits of $1. 170,000 closed today Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to serve

2. June 10, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, June 10, 1931

Click image to open full size in new tab

Article Text

THREE MORE CLOSE Three Minnesota banks with total deposits of $1,470,000 closed today. Directors of the State Bank of Vesta, the Lac Qui Parle County Bank and the Madison State Bank said they had shut their doors to conserve assets.