Farmers State Bank (Redwood Falls, MN)

Episode Information

Episode UID
75126971527
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7512697 routing
Routing Number
75-1269
Start Date
March 19, 1927
Location
Redwood Falls, Minnesota (44.539, -95.117)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f8e0488027ae1355

Response Measures

None

Description

Bank was placed in liquidation with the State Commissioner of Banks as receiver; assets sold in 1927.

Events (4)
1. March 19, 1927 Receivership
Newspaper Excerpt
IN THE MATTER OF LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS ... A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls
Source
newspapers
2. March 19, 1927 Suspension
Cause
Government Action
Cause Details
State Commissioner of Banks acting as receiver and initiating liquidation proceedings
Newspaper Excerpt
A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his petition in this Court
Source
newspapers
3. April 5, 1927 Other
Newspaper Excerpt
hearing on said petition be had before this Court ... on the 5th day of April, 1927 at 11 o'clock A. M. ... concerning the sale of said lands as set forth in said petition
Source
newspapers
4. May 1, 1928 Other
Newspaper Excerpt
New Citizen's State Bank of Redwood Falls will be able to open on that date ... Mr. O. A. Stensvad states that the 2nd dividend of the Farmers State Bank of Redwood Falls is in progress and will be distributed at an early date
Source
newspapers

Newspaper Articles (3)
1. March 23, 1927 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, March 23, 1927

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Article Text

March 23rd. STATE OF MINNESOTA, COUNTY OF REDWOOD, IN DISTRICT COURT, NINTH JUDICIAL DISTRICT. IN THE MATTER OF LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS, REDWOOD COUNTY, MINNESOTA. ORDER FOR HEARING. WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his petition in this Court, asking for an Order to sell the Northwest Quarter (NW1/4) of the Southeast Quarter (SE1/4) and Lots Four (4), Five (5) and Six (6) of Section Thirteen (13); and the Northeast Quarter (NE1/4) of the Southwest Quarter (SW¹/4) and Lots Seven (7) and One (1), of the Northwest Quarter (NW), of the South west Quarter (SW14), according to D. L. Bigham's survey thereof, all in Section Thirteen (13), Township One Hundred Thirteen (113), North of Range Thirty-Six (36), Redwood County, Minnesota, containing 252.64 acres more or less, to Reinhard F. Hagen of Belview, Minnesota, for the sum of Fifteen Thousand Four Hundred Ninety-Nine and 18-100 ($15,499.18) Dollars, said consideration to be paid by the assumption of the first mortgage on said premises and the payment of the purchaser, Reinhard F. Hagen, of the unpaid installment of principal and interest on said mortgage, taxes and the sum of One Thousand and no-100 ($1,000.00) Dollars cash. NOW, THEREFORE, IT IS ORDERED that a hearing on said petition be had before this Court, in its Chambers at Marshall, Minnesota, on the 5th day of April, 1927, at 11 o'clock A. M. of that day; at which time the Court will hear all persons interested in the Liquidation of said Bank, concerning the sale of said lands as set forth in said petition, which is filed in the Office of the Clerk of the District Court, in and for the County of Redwood, State of Minnesota, and that this Order be published one week in a legal newspaper in the City of Redwood Falls, Minnesota, day of publication to be at least Ten (10) days before said hearing. Dated this 19th day of March, 1927. ALBERT H. ENERSEN, Judge of District Court. George A. Barnes, Special Attorney for Petitioner 37-1t Redwood Falls, Minnesota.

2. April 13, 1927 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, April 13, 1927

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Article Text

April 13 STATE OF MINNESOTA, COUNTY OF REDWOOD, IN DISTRICT COURT, NINTH JUDICIAL DISTRICT. IN THE MATTER OF THE LIQUIDATION OF THE FARMERS STATE BANK OF REDWOOD FALLS, REDWOOD COUNTY, MINNESOTA. ORDER FOR HEARING WHEREAS, A. J. Veigel, Commissioner of Banks of the State of Minnesota, as Receiver of the Farmers State Bank of Redwood Falls, has filed his verified petitions in this Court, praying this Court to issue its order authorizing the following sales of assets of said Bank, and compromised settlements in connection with the liquidation thereof. I For an Order authorizing the Satisfaction of a certain real estate mortgage and the release of the notes secured thereby; said notes being in the sum of Nineteen Thousand Five Hundred and no-100 ($19,500.00) Dollars, and executed by Joseph J. Fischer, and Eudora Fischer, his wife; and Mary Fischer, together with interest thereon; said notes being secured by a second mortgage covering the following described premises, subject to a prior mortgage of about Thirty Thousand and no-100 ($30,000.00) Dollars which has been foreclosed, for the sum of Five Hundred and no100 ($500.00) Dollars cash: The South half (S½) of Section Seven (7); and the Northwest Quarter (NW1/4) of Section Eighteen (18); and the Northwest Quarter (NW1/4) of the Southeast Quarter (SE1/4) of Section Eighteen (18); and the Southwest Quarter (SW¹/₄) of the Northeast Quarter (NE 1/4) of Section Eighteen, all in Township One Hundred Thirteen (113) North of Range Thirty-Five (35); also Lots Two (2) and Three (3) in Section Thirteen (13), Township One Hundred Thirteen (113) North of Range Thirty-Six (36); also Lot Four (4) in Section Eighteen (18), Township One Hundred Thirteen (113), North of Range Thirty-Five (35); also commencing at the Southwest (SW) corner of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of Section Eighteen (18), Township One Hundred Thirteen (113), Range Thirty-Five (35) running thence South nineteen and one half degrees (19½) East to a point five and twenty two hundredths (5.22) chains, thence South forty-eight and one half degrees (481/2) west to a point two and thirty seven hundredths (2.37) chains, thence North six and forty six hun-

3. April 18, 1928 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, April 18, 1928

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Article Text

NEW BANK TO OPEN OFFICES HERE SOON Farmers State Bank Building Leased; Offices Moved to First Nat'l. Building. Remodeling and redecorating of the interior of the Farmer's State Bank building has started and will be completed some time before May 1st so that the New Citizen's State Bank of Redwood Falls will be able to open on that date. L. R. Ewart of Wells, Minn., who has been receiver of several banks in southern Minnesota, one of which was the First National Bank of Redwood Falls, resigned as receiver of these several banks and will act as the managing officer in the Citizen's State Bank. Mr. Ewart was in Redwood Falls last week and made arrangements for moving his family to the city. He has leased the H. W. Shoemaker home on east 4th Street and will take residence about May 1. Upon the leasing of the Farmer's State Bank building by the Citizen's State Bank, the Farmers Credit Company of Redwood Falls, the Redwood Falls National Farm Loan Association, the Ochs Collection Agency and Mr. O. A. Stensvad, special deputy examiner of the Security State Bank of North Redwood, Farmers State Bank of Redwood Falls, Farmers State Bank of Belview and the State Bank of Morton, all of whom were located in the leased building, have moved their offices to the First National Bank building on Second Street, where they have permanently located. F. R. Orth, receiver of the First National Bank of Redwood Falls, has moved his offices into the suite of rooms next to the Swartz Barber Shop in under the bank building. Mr. O. A. Stensvad states that the 2nd dividend of the Farmers State Bank of Redwood Falls is in progress and will be distributed at an early date.