9850. Farmers State Bank (Redwood Falls, MN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 19, 1927
Location
Redwood Falls, Minnesota (44.539, -95.117)

Metadata

Model
gpt-5-mini
Short Digest
4859b9d2

Response Measures

None

Description

Newspaper notices (Mar–Apr 1927) show the Commissioner of Banks acting as Receiver and petitions for liquidation and sale of bank assets. No article describes a depositor run; the bank is in liquidation/receivership and being closed permanently.

Events (3)

1. March 19, 1927 Receivership
Newspaper Excerpt
WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his petition ... Dated this 19th day of March, 1927. ALBERT H. ENERSEN, Judge of District Court.
Source
newspapers
2. March 19, 1927 Suspension
Cause
Government Action
Cause Details
Commissioner of Banks appointed receiver and initiated liquidation proceedings; bank placed into receivership by state banking authority
Newspaper Excerpt
A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his petition in this Court ... IN THE MATTER OF LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS
Source
newspapers
3. April 13, 1927 Other
Newspaper Excerpt
WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his verified petitions in this Court, praying this Court to issue its order authorizing the following sales of assets of said Bank, and compromised settlements in connection with the liquidation thereof.
Source
newspapers

Newspaper Articles (2)

Article from The Redwood Gazette, March 23, 1927

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Article Text

March 23rd. STATE OF MINNESOTA, COUNTY OF REDWOOD, IN DISTRICT COURT, NINTH JUDICIAL DISTRICT. IN THE MATTER OF LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS, REDWOOD COUNTY, MINNESOTA. ORDER FOR HEARING. WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his petition in this Court, asking for an Order to sell the Northwest Quarter (NW1/4) of the Southeast Quarter (SE1/4) and Lots Four (4), Five (5) and Six (6) of Section Thirteen (13); and the Northeast Quarter (NE1/4) of the Southwest Quarter (SW¹/4) and Lots Seven (7) and One (1), of the Northwest Quarter (NW), of the South west Quarter (SW14), according to D. L. Bigham's survey thereof, all in Section Thirteen (13), Township One Hundred Thirteen (113), North of Range Thirty-Six (36), Redwood County, Minnesota, containing 252.64 acres more or less, to Reinhard F. Hagen of Belview, Minnesota, for the sum of Fifteen Thousand Four Hundred Ninety-Nine and 18-100 ($15,499.18) Dollars, said consideration to be paid by the assumption of the first mortgage on said premises and the payment of the purchaser, Reinhard F. Hagen, of the unpaid installment of principal and interest on said mortgage, taxes and the sum of One Thousand and no-100 ($1,000.00) Dollars cash. NOW, THEREFORE, IT IS ORDERED that a hearing on said petition be had before this Court, in its Chambers at Marshall, Minnesota, on the 5th day of April, 1927, at 11 o'clock A. M. of that day; at which time the Court will hear all persons interested in the Liquidation of said Bank, concerning the sale of said lands as set forth in said petition, which is filed in the Office of the Clerk of the District Court, in and for the County of Redwood, State of Minnesota, and that this Order be published one week in a legal newspaper in the City of Redwood Falls, Minnesota, day of publication to be at least Ten (10) days before said hearing. Dated this 19th day of March, 1927. ALBERT H. ENERSEN, Judge of District Court. George A. Barnes, Special Attorney for Petitioner 37-1t Redwood Falls, Minnesota.


Article from The Redwood Gazette, April 13, 1927

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Article Text

April 13 STATE OF MINNESOTA, COUNTY OF REDWOOD, IN DISTRICT COURT, NINTH JUDICIAL DISTRICT. IN THE MATTER OF THE LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS, REDWOOD COUNTY, MINNESOTA. ORDER FOR HEARING WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his verified petitions in this Court, praying this Court to issue its order authorizing the following sales of assets of said Bank, and compromised settlements in connection with the liquidation thereof. I For an Order authorizing the Satisfaction of a certain real estate mortgage and the release of the notes secured thereby; said notes being in the sum of Nineteen Thousand Five Hundred and no-100 ($19,500.00) Dollars, and executed by Joseph J. Fischer, and Eudora Fischer, his wife; and Mary Fischer, together with interest thereon; said notes being secured by a second mortgage covering the following described premises, subject to a prior mortgage of about Thirty Thousand and no-100 ($30,000.00) Dollars which has been foreclosed, for the sum of Five Hundred and no100 ($500.00) Dollars cash: The South half (S½) of Section Seven (7); and the Northwest Quarter (NW1/4) of Section Eighteen (18); and the Northwest Quarter (NW1/4) of the Southeast Quarter (SE1/4) of Section Eighteen (18); and the Southwest Quarter (SW¹/₄) of the Northeast Quarter (NE 1/4) of Section Eighteen, all in Township One Hundred Thirteen (113) North of Range Thirty-Five (35); also Lots Two (2) and Three (3) in Section Thirteen (13), Township One Hundred Thirteen (113) North of Range Thirty-Six (36); also Lot Four (4) in Section Eighteen (18), Township One Hundred Thirteen (113), North of Range Thirty-Five (35); also commencing at the Southwest (SW) corner of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of Section Eighteen (18), Township One Hundred Thirteen (113), Range Thirty-Five (35) running thence South nineteen and one half degrees (19½) East to a point five and twenty two hundredths (5.22) chains, thence South forty-eight and one half degrees (481/2) west to a point two and thirty seven hundredths (2.37) chains, thence North six and forty six hun-