Farmers State Bank - Rosewood, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 25, 1924
Location: Rosewood, Minnesota (48.189, -96.290)

Metadata

Model: gpt-5-mini
Short Digest: 29234957

Response Measures

None

Description

Article (AP, 1924-03-25) reports the Farmers' State Bank of Rosewood suspended/closed operations on March 25, 1924. Closure is reported as connected to the prior closing of Merchants' National Bank of Crookston; no run or subsequent reopening is mentioned in the article.

Events (1)

1. March 25, 1924 Suspension

Cause: Correspondent
Cause Details: Closed because it was connected with the prior closing of Merchants' National Bank of Crookston; closure appears to stem from correspondent/connection distress.
Newspaper Excerpt: Two more state banks connected with the Merchants' National Bank of Crookston, which closed Saturday, were closed yesterday, A. J. Viegel, state superintendent of banks, announced. The institutions were the Farmers' State Bank of Rosewood...
Source: newspapers

Newspaper Articles (1)

1. March 25, 1924 Evening Star Washington, DC

Article from Evening Star, March 25, 1924

Click image to open full size in new tab

Article Text

2 MORE STATE BANKS IN MINNESOTA CLOSE Rosewood and Twin Valley Institution Suspend Operations, Official Says. By the Associated Press. ST. PAUL, Minn., March 25.-Two more state banks connected with the Merchants' National Bank of Crookston, which closed Saturday, were closed yesterday, A. J. Viegel, state superintendent of banks, announced. The institutions were the Farmers' State Bank of Rosewood, with a capital of $10,500 and deposits aggregatng $22,000, and the Securities State Bank of Twin Valley, which had a capital of $20,000. and deposits aggregating $250,000.