20500. Sioux Falls National Bank (Sioux Falls, SD)

View Charter #2823 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
2823
Charter Number
2823
Start Date
November 9, 1899
Location
Sioux Falls, South Dakota (43.550, -96.700)

Metadata

Model
gpt-5-mini
Short Digest
65e87da6

Response Measures

None

Receivership Details

Depositor recovery rate
50.0%
Date receivership started
1924-01-24
Date receivership terminated
1934-08-10
OCC cause of failure
Run
Share of assets assessed as good
59.2%
Share of assets assessed as doubtful
25.3%
Share of assets assessed as worthless
15.5%

Description

Articles (Nov 1899) report the Sioux Falls National Bank 'closed its doors a few years ago' and that the receiver C. F. Zimmerman is distributing a 10% dividend to creditors. No contemporaneous run is described; the bank had been placed in receivership and remains closed. Exact date of suspension/closing not provided in these clippings.

Events (5)
1. November 23, 1882 Chartered
Source
historical_nic
2. November 9, 1899 Other
Newspaper Excerpt
Creditors of the Sioux Falls National Bank ... are receiving their proportion of another dividend of 10 per cent., which is being distributed among them by C. F. Zimmerman, receiver of the bank.
Source
newspapers
3. November 9, 1899 Receivership
Newspaper Excerpt
C. F. Zimmerman, receiver of the Sioux Falls National bank ... has announced another dividend of 10 per cent, to be distributed among the creditors.
Source
newspapers
4. January 24, 1924 Receivership
Source
historical_nic
5. * Suspension
Cause Details
Closure date and cause not specified in the articles; described only as having 'closed its doors a few years ago.'
Newspaper Excerpt
Sioux Falls National bank, which closed its doors a few years ago
Source
newspapers

Newspaper Articles (2)
1. November 10, 1899 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 10, 1899

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Article Text

Dividend from Broken Bank. SIOUX FALLS, S. D., Nov. 9.-(Special.) -C. F. Zimmerman, receiver of the Sioux Falls National bank, which closed its doors a few years ago, has announced another dividend of 10 per cent, to be distributed among the creditors.

2. November 17, 1899 Hot Springs Weekly Star Hot Springs, SD
Article from Hot Springs Weekly Star, November 17, 1899

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Article Text

Broken Bank Pays a Dividend. Creditors of the Sioux Falls National Bank, which closed its doors a few years ago, are receiving their proportion of another dividend of 10 per cent., which is being distributed among them by C. F. Zimm: 111, receiver of the bank.