First National Bank - Flandreau, SD

Episode Information

Episode UID: 585401594
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 58540 national
Charter Number: 5854
Start Date: October 22, 1932
Location: Flandreau, South Dakota (44.049, -96.595)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: f38bdfd57053a485

Response Measures

None

Receivership Details

Depositor recovery rate: 80.2%
Date receivership started: 1932-11-03
Date receivership terminated: 1937-04-30
Share of assets assessed as good: 26.1%
Share of assets assessed as doubtful: 65.8%
Share of assets assessed as worthless: 8.2%

Description

Used known receivership date (1932-11-03) per bank info; article states bank closed Oct. 22, 1932.

Events (4)

1. June 8, 1901 Chartered

Source: historical_nic

2. October 22, 1932 Suspension

Cause: Government Action
Cause Details: Bank closed Oct. 22, 1932 and subsequently placed under a receiver (closure by regulatory/receiver action).
Newspaper Excerpt: the bank closed on October 22, 1932.
Source: newspapers

3. November 3, 1932 Receivership

Source: historical_nic

4. November 3, 1932 Receivership

Newspaper Excerpt: John Hirning, receiver of the First National bank of Flandreau, started suit ... the complaint asserts Buck owned 20 shares of bank stock at the time the bank closed on October 22, 1932. (article refers to the receiver's actions in 1934). (article references receiver actions). (OCR-corrected snippet). : null, error: null }
Source: newspapers

Newspaper Articles (1)

1. February 28, 1934 Argus-Leader Sioux Falls, SD

Article Text

Around the Courthouse IN CIRCUIT COURT John Hirning, receiver of the First National bank of Flandreau, started suit in circuit court today against Lee E. Buck, 127 South Duluth ave., in an effort to secure a judgment of $2,000 for stockholder's liability. The complaint asserts Buck owned 20 shares of bank stock at the time the bank closed on October 22, 1932. Rice and Rice, Flandreau, represent the bank receiver. A decree of divorce, custody of two minor children and $25 monthly alimony and support money for the children was awarded to Sophie Oien, Baltic, in a suit brought against George A. Oien, Baltic farmer, on grounds of cruelty, according to an order of Judge L. L. Fleeger. Oien is permitted to visit the children at all reasonable times. They were married at Baltic December 5, 1912. B. O. Stordahl appeared for Mrs. Oien, and Krause and Krause for the defendant. Pearl Johnson, Sioux Falls clerk, started suit today against Henry Johnson, Atlanta, Ga., for a decree of divorce and $50 monthly alimony on grounds of desertion. They were married at Alexandria January 25, 1919. Coon and Coon appear for Mrs. Johnson. Mrs. Stella M. Shriver, 301 North Prairie ave., took the witness stand in court today before Referee Laird Holmes for cross examination before trial of a divorce action she started against Alva R. Shriver. She was quizzed by Mr. Shriver's attorney, C. J. Delbridge. T. R. Johnson appears for Mrs. Shriver. IN PROBATE COURT A petition has been filed praying that letters of administration of the estate of Julia E. Sweeney, late of Sioux Falls, be issued to Mary Holly and Ella Holly Geiger. Hearing was set for March 19. Verne H. Jennings is attorney for the petitioners. An order has been made admitting the will of Louis C. Panouses, late of Sioux Falls, to probate and letters of administration with the will annexed were issued to Steve Cusulos. Jones, Matthews and Fitzpatrick are attorneys for the administrator. A petition has been filed praying that letters of administration of the estate of Mary Tollefson, late of Dell Rapids, be issued to Henry Tollefson. Hearing was set for March 19. Krause and Krause of Dell Rapids are attorneys for the petitioner. MARRIAGE LICENSES George Anderson ......Sioux Falls Laura Gimbel .........Sioux Falls Harry Tubbs ......New York City Myrtle Morrison .......Sioux Falls Birmingham, Ala., Feb. 28.—(AP)—The weather doesn't influence thieves in Birmingham. Police received reports today of the theft of three electric fans—just an hour or two after the thermometer dropped to 15 degrees.