First State Bank - Crosby, ND

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 1, 1923*
Location: Crosby, North Dakota (48.914, -103.295)

Metadata

Model: gpt-5-mini
Short Digest: 6abe49de

Response Measures

None

Description

Article states First State Bank of Crosby was placed on a special trust agreement and closed late in 1923, then reopened (reported 1924-09-24). No mention of depositor run; suspension appears to be by state banking board and reorganization led to reopening.

Events (2)

1. December 1, 1923* Suspension

Cause: Government Action
Cause Details: Placed on special trust agreement by the state banking board; closed late in 1923.
Newspaper Excerpt: Both closed late in 1923.
Source: newspapers

2. September 24, 1924 Reopening

Newspaper Excerpt: TWO BANKS ARE REOPENED ... The two banks... reopened, according to information received at the office of State Examiner Gilbert Semingson.
Source: newspapers

Newspaper Articles (1)

1. September 24, 1924 The Bismarck Tribune Bismarck, Mandan, ND

Article from The Bismarck Tribune, September 24, 1924

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Article Text

TWO BANKS ARE REOPENED Crosby Banks Had Deposits of Over $350,000 Two banks with combined deposits of $355,500 shortly before they were placed on special trust agreement by the state banking board reopened, according to information received at the office of State Examiner Gilbert Semingson. The two banks-the Security State of Crosby an dthe First State Bank of Crosby-had a combined capital stock of $40,000 at the time of their suspension. Much satisfaction was expressed by the state banking department today over the ability of these two banks to reopen after reorganization. The Security State had a capitalization of $30,000 and deposits of $199,000 while the First State had a capitalization of $10,000 and deposits of $136,500. Both closed late in 1923.