Karnak State Bank (Karnak, ND)

Episode Information

Episode UID
77098371515
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7709837 routing
Routing Number
77-0983
Start Date
March 9, 1926
Location
Karnak, North Dakota (47.281, -98.064)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c560bb2bbe231009

Response Measures

None

Description

Closure and receivership are referenced by state receiver payouts; exact suspension date not given.

Events (4)
1. March 9, 1926 Receivership
Newspaper Excerpt
Baird also announced payment of 15 per cent dividend to creditors of the Karnak State bank. Karnak. to be made by W. Conroy, district manager at Devils Lake
Source
newspapers
2. January 17, 1927 Receivership
Newspaper Excerpt
Karnak State Bank, second dividend of 20 per cent;
Source
newspapers
3. January 12, 1929 Receivership
Newspaper Excerpt
a 10 per cent dividend to depositors of the Karnak State bank, making a total of 45 per cent.
Source
newspapers
4. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was closed and placed in receivership by the state receiver (insolvency leading to suspension/closure).
Newspaper Excerpt
dividends to depositors of closed banks was announced today by the state receiver of closed banks
Source
newspapers

Newspaper Articles (4)
1. March 9, 1926 The Bismarck Tribune Bismarck, ND
Article from The Bismarck Tribune, March 9, 1926

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Article Text

Watford City and Karnak Banks Are to Pay Dividends Payment of a 20 per cent dividend to creditors of the American Exchange Bank of Watford City was announced here today by L. R. Baird, state bank receiver. The payment will be made through J. P. Reeve, district manager for the receiver at Burlington. A previous dividend of 10 per cent already has been paid to the bank's creditors. Baird also announced payment of 15 per cent dividend to creditors of the Karnak State bank. Karnak. to be made by W. Conroy. district manager at Devils Lake

2. January 17, 1927 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, January 17, 1927

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Article Text

DIVIDENDS TO BE PAID BY 10 CLOSED BANKS State Receiver Baird Announces Payments Through District Offices Dividends to be paid to the depositors in 10 closed banks were announced here today by L. R. Baird, state receiver of closed banks. Five dividends to be paid through the office of C. W. Conroy, district manager at Devils Lake, are: Security Bank of Oberon, a second dividend of 10 per cent; Security State Bank, Kensal, second dividend of 10 per cent; Farmers State Bank, Hesper, second dividend of 15 per cent; Karnak State Bank, second dividend of 20 per cent; Security State Bank, Brantford, a dividend of 10 per cent. Two dividends will be paid through the office of G. R. Van Sickle, district manager at Minot, as follows: Farmers and Merchants State Bank, Barton, 20 per cent; Towner State Bank, Towner, a second dividend of 30 per cent. Three dividends will be paid through the office of J. P. Reeve, district manager at Burlington, as follows: Farmers State Bank, Noonan, a second dividend of 20 per cent; Citizens State Bank, Flaxton, second dividend of 10 per cent; First State Bank, Lansford, second dividend of 10 per cent.

3. January 12, 1929 Morning Pioneer Mandan, ND
Article from Morning Pioneer, January 12, 1929

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Article Text

DIVIDENDS FOR OF FOUR N. D. BANKS Bismarck, Jan. Payment four dividends to deposiof closed state banks was announced today by the state bank receiver closed banks here. All be paid through office W. Conroy, district manager for the receiver Devils The dividends 10 per cent depositors the State Bank, the Farmers State Bank Mapes, the Farmers State Bank of Emerado, and the Karnak State Bank.

4. January 12, 1929 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, January 12, 1929

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Article Text

FOUR CLOSED BANKS PAYING DEPOSITORS I Payment of four dividends to depositors of closed banks was announced today by the state receiver of closed banks here. All will be paid through the office of C. W. Conroy, district manager for the receiver at Devils Lake. The dividends are: Ten per cent to depositors of the Newville State bank; a 10 per cent dividend to depositors of the Farmers State Bank of Napes, making the total on this bank 20 per cent; a 10 per cent dividend to depositors of the Farmers State Bank of Emerado, making a total of 20 per cent and a 10 per cent dividend to depositors of the Karnak State bank, making a total of 45 per cent.