Northern State Bank - Minneapolis, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 1, 1922*
Location: Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model: gpt-5-mini
Short Digest: dea8b38e

Response Measures

None

Description

Article references that the Northern State Bank was closed recently. The closure is described as by the state banking department (government action). The article does not describe a run on Northern State itself (the run described affected Western State Bank), so I classify this as a suspension/closure by government action. Exact closure date not given in the excerpt; I use the newspaper date as context.

Events (1)

1. April 1, 1922* Suspension

Cause: Government Action
Cause Details: Closed by the state banking department (reported as closed recently in April 1922).
Newspaper Excerpt: Heavy withdrawals occurred on a report that the bank was involved in the affairs of the Northern State bank, which was closed recently.
Source: newspapers

Newspaper Articles (1)

1. April 21, 1922 Little Falls Herald Little Falls, MN

Article from Little Falls Herald, April 21, 1922

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Article Text

# RUN CLOSES BANK-FORMER RESIDENT INTERESTED Minneapolis Star (19):-The Western State bank, 639 Sixth avenue north, was closed today by the state banking department, after a two days' run. A controlling interest in the bank was sold about 10 days ago by J. H. Guerin to J. J. Jankowitz. Heavy withdrawals occurred on a report that the bank was involved in the affairs of the Northern State bank, which was closed recently. The Western State bank was capitalized at $25,000 and had a $6,000 surplus. The April bank call showed its deposits to be $445,604, with cash assets of $46,335, considerably above the amount required by law. The bank has been operating six years. Dr. N. N. Cohen, a stockholder and former president, declared today that all persons interested were working to protect the depositors and it was hoped that the bank might be re-opened. W. W. Sivright, deputy state superintendent of banks, said that the office had been notified this morning that as the result of a "run," the bank had been closed. "We understood that re-organization was in progress, but the bank officials have not kept us notified up to the minute," he said.