State Bank of Commerce (Winnebago, MN)

Episode Information

Episode UID
75026971350
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7502697 routing
Routing Number
75-0269
Start Date
June 5, 1912
Location
Winnebago, Minnesota (43.768, -94.166)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
29a661152d7d45ff

Response Measures

None

Description

Articles report the bank as insolvent with a receiver appointed and affairs to be closed; missing vice-president mentioned.

Events (2)
1. June 5, 1912 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank declared insolvent; superintendent to appoint receiver and depositors instructed to file claims.
Newspaper Excerpt
All those who have claims against the bank should file them with the superintendent of banks in St. Paul within three months from June 5, 1912.
Source
newspapers
2. July 5, 1912 Receivership
Newspaper Excerpt
M. C. Dalton is in Winnebago where he will act as special examiner or receiver for the insolvent State Bank of Commerce. ... He will now confine his attention to the Bank of Commerce at Winnebago and close up the affairs of that institution.
Source
newspapers

Newspaper Articles (2)
1. June 21, 1912 The Mankato Free Press Mankato, MN
Article from The Mankato Free Press, June 21, 1912

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Article Text

REWARD FOR H.W.PARKER A meeting of the depositors of the State Bank of Commerce was held at the G. A. R. hall Friday afternoon, says The Winnebago Enterprise. The attendance was large. Miss Blanche Seger presided over the meeting. Kelsey Chase, state superintendent of banks, and Judge Cray of Mankato were present and gave talks. A number of questions were asked pertaining to the bank. A committee was appointed to solicit funds for a reward for the return of H. W. Parker to Winnebago, the appointment of a lawyer to look after the depositors' interests, etc. Mr. Chase stated that in all probability that he would appoint an outside man receiver for the bank. All those who have claims against the bank should file them with the superintendent of banks in St. Paul within three months from June 5, 1912. The superintendent will act on these claims on September 23, 1912.

2. July 5, 1912 The Mankato Free Press Mankato, MN
Article from The Mankato Free Press, July 5, 1912

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Article Text

WHY THE DEAL IS OFF From Wednesday's Daily. M. C. Dalton is in Winnebago where he will act as special examiner or receiver for the insolvent State Bank of Commerce. As was stated in The Free Press, Mr. Dalton will not be connected with the bank which it is proposed to establish in North Mankato. It is understood that Mr. Dalton wanted to own a controlling interest in the institution, but this was objected to by North Mankato parties who are to take stock in the bank. The capital stock will be $15,000, of which Mr. Dalton desired to own $8,000. Not being satisfied with any other arrangement Mr. Dalton concluded to drop further negotiations. He will now confine his attention to the Bank of Commerce at Winnebago and close up the affairs of that institution. It is said that no effort is being made to locate H. W. Parker, the missing vice president of the insolvent bank. An attempt to raise a fund to be used in a search for Parker resulted in the collection of only a small amount of money-not enough to pay anyone to put forth any effort in that direction. Not the slightest clew to Parker's whereabouts has ever been obtained.