Farmers National Bank (Dodge Center, MN)

View Charter #6623 on SPMC View balance sheet

Episode Information

Episode UID
662301500
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
66230 national
Charter Number
6623
Start Date
December 9, 1924
Location
Dodge Center, Minnesota (44.028, -92.855)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1ee30e3f0f41f2f4

Response Measures

None

Receivership Details

Depositor recovery rate
12.0%
Date receivership started
1924-12-09
Date receivership terminated
1930-11-07
OCC cause of failure
Governance
Share of assets assessed as good
8.1%
Share of assets assessed as doubtful
48.7%
Share of assets assessed as worthless
43.2%

Description

Federal comptroller appointed a receiver; using official receivership date for the closure.

Events (4)
1. February 12, 1903 Chartered
Source
historical_nic
2. December 9, 1924 Receivership
Source
historical_nic
3. December 9, 1924 Receivership
Newspaper Excerpt
tendering him the appointment as receiver for the closed Farmers' National bank at Dodge Center; has wired his acceptance of the appointment. H. E. Skinner received a telegram Tuesday from the comptroller of currency at Washington, tendering him the appointment as receiver for the closed Farmers' National bank at Dodge Center.
Source
newspapers
4. December 9, 1924 Suspension
Cause
Government Action
Cause Details
Bank was closed and examiners investigated; closure followed by appointment of a federal receiver by the Comptroller of the Currency.
Newspaper Excerpt
the closed Farmers' National bank at Dodge Center
Source
newspapers

Newspaper Articles (3)
1. December 11, 1924 The Albert Lea Tribune Albert Lea, MN
Article from The Albert Lea Tribune, December 11, 1924

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Article Text

ALBERT LEA MAN GIVEN POST AS BANK RECEIVER H. E. Skinner Tendered Appointment as Receiver of Farmers National Bank at Dodge Center—Acceptance Wired to Washington Yesterday. H. E. Skinner received a telegram Tuesday from the comptroller of currency at Washington, tendering him the appointment as receiver for the closed Farmers' National bank at Dodge Center. Mr. Skinner was at Dodge Center yesterday investigating the field and has wired his acceptance of the appointment. The Farmers' National bank is the largest bank in Dodge county and has footings of approximately three-quarters of a million dollars. The examiners are now at work listing the assets and liabilities and as soon as their work is completed the bank will be turned over to Mr. Skinner for liquidation. Mr. Skinner's work will be largely in an executive capacity and will not necessitate his removal from Albert Lea.

2. December 13, 1924 The Minneapolis Star Minneapolis, MN
Article from The Minneapolis Star, December 13, 1924

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Article Text

G.N. Clerks Indorse Labor Assembly Action Great Northern lodge 1310, Brotherhood of Railway Clerks, were on record today indorsing action of the Trades and Labor assembly against communists and communism. H. I. Manley is the newly elected president of the brotherhood. BANK RECEIVER NAMED Dodge Center, Minn., Dec. 13.—H. E. Skinner, prominent Albert Lea business man, has been named as receiver for the recently closed Farmers National bank of Dodge Center by the United States comptroller of currency, according to advices received here. Mr. Skinner will take charge of the liquidation of the bank's affairs as soon as examiners complete the investigation of the books.

3. December 22, 1924 The Albert Lea Tribune Albert Lea, MN
Article from The Albert Lea Tribune, December 22, 1924

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Article Text

DODGE CENTER BANK RECEIVER TAKES CHARGE H. E. Skinner of Albert Lea Who Accepted Appointment as Receiver of Farmers' National Bank Now on the Job. H. E. Skinner, president of the Skinner, Chamberlain Co. of Albert Lea, who was appointed receiver of the closed Farmers National Bank at Dodge Center, has taken charge of affairs of the institution. Mr. Skinner was appointed receiver of the bank a week ago Tuesday, his appointment coming from the comptroller of currency at Washington, D. C. Mr. Skinner visited Dodge Center