Security Bank (Oberon, ND)

Episode Information

Episode UID
77098871489
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7709887 routing
Routing Number
77-0988
Start Date
January 24, 1924
Location
Oberon, North Dakota (47.923, -99.204)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e1ec1a5e92eeca3e

Response Measures

None

Description

Closed by the state banking department; later handled by a state receiver who paid dividends.

Events (2)
1. January 24, 1924 Suspension
Cause
Government Action
Cause Details
Closed by the state banking department (reported Jan. 24, 1924); closure attributed to depleted reserve and action by banking department.
Newspaper Excerpt
the Security bank of Oberon, capital $15,000, surplus $2,000 and deposits $90,000, have been closed, it is announced by the state banking department.
Source
newspapers
2. January 17, 1927 Receivership
Newspaper Excerpt
Security Bank of Oberon, a second dividend of 10 per cent; ... announced here today by L. R. Baird, state receiver of closed banks.
Source
newspapers

Newspaper Articles (2)
1. January 25, 1924 Grand Forks Herald Grand Forks, ND
Article from Grand Forks Herald, January 25, 1924

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Article Text

TWO BANKS CLOSE, MANY MAY RE-OPEN Bismarck, N. D., Jan. 24.—The Farmers State bank of Churchs Ferry, capital stock $10,000; surplus $10,000, deposits $130,000 and the Security bank of Oberon, capital $15,000, surplus $2,000 and deposits $90,000, have been closed, it is announced by the state banking department. J. L. Matthews of Minneapolis, is president of the first named bank and John W. Weninger of the latter bank. Several banks in the state which are on special trust deposit under the Guaranty Fund commission are seeking to reopen. The commission's representatives have, within the last few days, heard representatives of closed banks in Valley City, Velva and other places, who seek to learn what the commission will require under a reorganization for opening the banks, and to present their attitude and report on their condition. No action has been taken by the commission. Several of the banks, it is understood, were closed merely because of depleted reserve, and with additional cash pledged by directors and officers expect to reopen.

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.