Citizens National Bank (Crosby, ND)

Episode Information

Episode UID
1051901487
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
105190 national
Charter Number
10519
Start Date
November 21, 1923
Location
Crosby, North Dakota (48.914, -103.295)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
865b7fadd5416688

Response Measures

None

Receivership Details

Depositor recovery rate
57.1%
Date receivership started
1923-11-21
Date receivership terminated
1927-04-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
9.3%
Share of assets assessed as doubtful
56.4%
Share of assets assessed as worthless
34.3%

Description

Records show suspension in Nov 1923 and subsequent receivership/liquidation completed by 1927.

Events (5)

1. April 23, 1914 Chartered
Source
historical_nic
2. November 21, 1923 Receivership
Source
historical_nic
3. November 21, 1923 Receivership
Newspaper Excerpt
A national examiner is checking up the affairs of the suspended institution.
Source
newspapers
4. November 21, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depleted cash reserve leading to suspension; national examiner checking affairs.
Newspaper Excerpt
A movement has been launched here to have the First National bank of Crosby take over the assets of the Citizens National bank, which suspended a few days ago due to depleted cash reserve.
Source
newspapers
5. May 9, 1927 Other
Newspaper Excerpt
Only ashes remain of the hundreds of records of the closed Citizens' National bank... two truck loads of records... were saturated with kerosene and were burned... under the direction of J. S. Odland of Mohall, receiver of the bank.
Source
newspapers

Newspaper Articles (3)

Article from The Fargo Forum, Daily Republican, and Moorhead Daily News, November 21, 1923

Click image to open full size in new tab

Article Text

PROGRAM OUT FOR ATTORNEYS MEET County Prosecutors to Discuss Many Law Enforcement Problems Bismarck, N. D., Nov. 21.β€”A tentative program has been announced for the conference of state's attorneys of North Dakota to be held here Nov. 27 and 28, upon call of Attorney General George F. Shafer. Addresses on specific phases of law enforcement thus far arranged are announced as follows: Nov. 27, 2 p.m. Address, "President's Conference of Governors on Law Enforcement," Governor R. A. Nestos. Address, "Thoughts From the Bench," Judge A. M. Christianson. Address, "Inquisitorial Powers of State's Attorney," Iver A. Acker, state's attorney, Traill county. Address, "The Function of the Search Warrant in Law Enforcement," O. B. Herigstad, assistant state's attorney, Ward county. Address, "Needed Changes in Laws Affecting State's Attorney's Office," J. B. Wineman, state's attorney, Grand Forks county. Address, "The I. W. W. Problem in North Dakota," H. F. Horner, state's attorney, Cass county. Nov. 27, 8 p.m. Address, "Procedure in Prohibition Enforcement," C. A. Pollock, former district judge. Nov. 28, 9:30 a.m. Address, "Points of Co-operation in Federal and State Enforcement," representative of United States department of justice. Address, "Shall We Form a State Prosecutors Association?" Edward S. Allen, state's attorney, Burleigh county. General discussion on subjects of interest to state's attorneys. BANK MERGER AGITATED Assets Of Suspended Crosby Institution May Be Taken Over Crosby, N. D., Nov. 21.β€”A movement has been launched here to have the First National bank of Crosby take over the assets of the Citizens National bank, which suspended a few days ago due to depleted cash reserve. A national examiner is checking up the affairs of the suspended institution. The Citizens National bank was the oldest bank in Divide county, having been organized in 1905. MILL BOARD IS BUSY Grand Forks, N. D., Nov. 20.β€”The meeting of the board of managers of the North Dakota state mill and elevator which opened here Monday probably will continue until Wednesday evening, as there is a heavy grist of business to be disposed of by the board. EXTRADITION FIGHT BEGUN Grand Forks, N. D., Nov. 21.β€”M. M. Drenling of Salina, Kan., complaining witness against J. A. Keller, wanted by the Salina officials on a charge of swindling, has gone to Bismarck to appear before Gov. R. A. Nestos in connection with the application for Keller's extradition. T. B. Elton, Grand Forks attorney, will represent Keller in his fight against extradition. LAW FRAT ENTERTAINS Grand Forks, N. D., Nov. 21.β€”Members of the Phi Alpha Delta law fraternity at the state university, held a banquet last night at which the speakers were Nels Johnson and H. B. Constans, representing the first year men of the fraternity who were hosts. Professors R. W. Cooley, F. S. Rowley, Laurisz Vold and Thomas B. Atkinson, represented the faculty. FIVE N. D. REPRESENTATIVES Grand Forks, N. D., Nov. 21.β€”Five members of Sigma Delta Chi, national honorary journalistic fraternity, are representing the University of North Dakota and the national convention of the fraternity at Minneapolis. North Dakota representatives are Leslie Erhardt of Hamilton; C. H. Burke of Bismarck; Allen Retzlaff of Aneta; and Charles Evans and Maurice Ryan of Grand Forks.


Article from Plentywood Herald, May 13, 1927

Click image to open full size in new tab

Article Text

Records of Closed Crosby Bank Burned Crosby, N. D., May 9.-Only ashes remain of the hundreds of records of the closed Citizens' National bank of Crosby, the affairs of which have been completely liquidated and the paid. Two truck loads of records from the institution, which was closed four years ago, were hauled to the dump grounds near here, saturated with kerosene and were burned. under the direction of J. S. Odland of Mohall, receiver of the bank.


Article from The Producers News, May 13, 1927

Click image to open full size in new tab

Article Text

BURN RECORDS OF INSOLVENT CROSBY BANK * * * * * * Crosby, N. D., May 8.-Burning of the records, files, books and all other accountings of the bank marked the end of the liquidation of the insolvent Citizens) National Bank of this city, when J. S. Odland, received, wound up the details of his receivership pursuant to court order. A big truck load of records were destroyed by fire in this manner. The Citizens National Bank was the oldest banking institution in Divide county.