First National Bank - Argyle, MN

Episode Information

Episode UID: 590701525
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 59070 national
Charter Number: 5907
Start Date: January 18, 1927
Location: Argyle, Minnesota (48.333, -96.821)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 716355d0193db787

Response Measures

None

Receivership Details

Depositor recovery rate: 17.7%
Date receivership started: 1927-01-18
Date receivership terminated: 1931-11-02
OCC cause of failure: Economic conditions
Share of assets assessed as good: 12.6%
Share of assets assessed as doubtful: 69.8%
Share of assets assessed as worthless: 17.6%

Description

Article reports the bank is closed and names a receiver; known receivership date precedes this article.

Events (4)

1. July 19, 1901 Chartered

Source: historical_nic

2. January 18, 1927 Receivership

Source: historical_nic

3. January 18, 1927 Receivership

Newspaper Excerpt: Known receivership date (government records) for First National Bank, Argyle.
Source: newspapers

4. January 26, 1928 Other

Newspaper Excerpt: Henry Frazer of Warren has been appointed as receiver of the closed First National bank of this place to succeed W. E. LaPlante
Source: newspapers

Newspaper Articles (1)

1. January 27, 1928 Grand Forks Herald Grand Forks, ND

Article from Grand Forks Herald, January 27, 1928

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Article Text

NEW BANK RECEIVER NAMED AT ARGYLE Argyle, Minn., Jan. 26. — Henry Frazer of Warren has been appointed as receiver of the closed First National bank of this place to succeed W. E. LaPlante who will leave on Feb. 1 for Grand Forks to be connected with a financing company. Frazer has been receiver of the First National and Warren National banks for some time past and will make his headquarters in that city but will spend two or more afternoons each week at the Argyle bank.