First National Bank (Jasper, MN)

Episode Information

Episode UID
652301504
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
65230 national
Charter Number
6523
Start Date
April 28, 1925
Location
Jasper, Minnesota (43.850, -96.399)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c80b0428b14fa017

Response Measures

None

Receivership Details

Depositor recovery rate
34.0%
Date receivership started
1925-05-01
Date receivership terminated
1930-06-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
16.3%
Share of assets assessed as doubtful
43.6%
Share of assets assessed as worthless
40.1%

Description

Newspaper says directors closed bank April 1925; official receivership date in records is 1925-05-01.

Events (4)

1. December 8, 1902 Chartered
Source
historical_nic
2. April 28, 1925 Suspension
Cause
Government Action
Cause Details
Closed by order of the board of directors with reference to national examiner's office; bank suspended operations.
Newspaper Excerpt
DIRECTORS CLOSE BANK Minn., April, First National bank of Jasper, was closed today by order of the board of directors of the institution.
Source
newspapers
3. May 1, 1925 Receivership
Source
historical_nic
4. May 1, 1925 Receivership
Newspaper Excerpt
Bank Receiver Resigns. Jasper, Minn., July 12.—Special: H. H. Birch, who has been receiver of the First National bank, of Jasper, since April last year, has resigned and Peter Highmark ... has been appointed temporary receiver.
Source
newspapers

Newspaper Articles (2)

Article from Livingston Enterprise, April 28, 1925

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Article Text

DIRECTORS CLOSE BANK Minn., April, First National bank of Jasper, was closed today by order of the board of directors of the institution. The bank's capitalization $30,000. In the call the national examiner's fice, reason for the closing given


Article from The Sioux City Journal, July 13, 1926

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Article Text

AUTO DRIVER VICTIM OF CRASH WITH TRAIN Windom, Minn., July 12.—Special: When his automobile was struck by a passenger train at a grade crossing here, Chris Hanson, of Jackson, Minn., suffered possibly fatal injuries. The injured man was taken to the hospital here where attending physicians expressed doubt that Hanson could recover. As the automobile reached the grade crossing it was struck by the train, which hurled the automobile about 50 feet and carried the driver along the trackage nearly 100 feet before the mangled body was thrown clear of the train. FORESTERS INITIATE CANDIDATE CLASS New Ulm, Minn., July 12.—Special: Members of the Catholic Order of Foresters from a wide territory attended a special meeting of St. John court, of New Ulm. Ceremonies connected with the initiation of a large class of candidates were conducted, and in the evening a banquet was served at which several prominent visiting Foresters delivered addresses. The new members taken into the order will be members of the New Ulm, Springfield and Sleepy Eye courts. HEART ATTACK FATAL TO MAN IN AUTO Granite Falls, Minn., July 12.—Special: John Anderson, 80 years old, died of heart disease while riding in an automobile to this city from Tracy, where he had paid a visit to the cemetery where his wife was buried several years ago. Mr. Anderson had only recently come to Granite Falls for a visit at the home of his son, Alderman B. S. Anderson, from Miami, Fla., where he had spent the winter. BOARD ACCEPTS SCHOOL HEAD'S RESIGNATION Appleton, Minn., July 12.—Special: Following a long controversy the board of education has accepted the resignation of Supt. Wahl, of the Appleton city schools, and has named A. D. Griffin, of Mahnomen, Minn., as his successor. With the faculty list now complete it is stated that the salary roll for the coming school year will be $1,000 less than that paid during the last year. FARMER FIRES SHOT AT CHICKEN THIEF Adrian, Minn., July 12.—Special: A charge of buckshot was administered by Frank Smith, a farmer of east of Adrian, when he awoke to discover someone was attempting to rob his chicken house. A howl of pain answered the charge of buckshot, but by the time Smith reached the yard, the invader had escaped. Firm Buys Elevator. Ellsworth, Minn., July 12.—Special: The Spracher elevator in Ellsworth, under lease last year by the Stockdale interests of Estherville, Ia., passed this week to the management of the W. Z. Sharp Elevator company of Sioux Falls, S. D. John Nordman has been retained as manager. Bank Receiver Resigns. Jasper, Minn., July 12.—Special: H. H. Birch, who has been receiver of the First National bank, of Jasper, since April last year, has resigned and Peter Highmark, who has had charge of the Rock County bank, at Luverne, Minn., since it closed, has been appointed temporary receiver.