First State Bank - Buford, ND

Episode Information

Episode UID: 77052971582
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7705297 routing
Routing Number: 77-0529
Start Date: October 12, 1931
Location: Buford, North Dakota (47.999, -103.991)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 1b504dbf28e277c5

Response Measures

None

Events (1)

1. October 12, 1931 Suspension

Cause: Voluntary Liquidation
Cause Details: Owners announced banking was no longer profitable and asked depositors to withdraw; bank to pay depositors in full and close.
Newspaper Excerpt: Because the banking business has ceased to be profitable for the First State bank of Buford, depositors have been asked to withdraw their deposits from the bank immediately. The announcement assured depositors they would receive 100 cents on the dollar.
Source: newspapers

Newspaper Articles (1)

1. October 12, 1931 The Minneapolis Star Minneapolis, MN

Article Text

BANK TO PAY OFF DEPOSITORS, CLOSE Buford, N. D., Oct. 12.—(U.P.)—Because the banking business has ceased to be profitable for the First State bank of Buford, depositors have been asked to withdraw their deposits from the bank immediately. The announcement assured depositors they would receive 100 cents on the dollar.

Episode Information

Metadata

Response Measures

Events (1)

Newspaper Articles (1)

Article Text

Bank runs are almost always and everywhere a deterioration of bank fundamentals.

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