Farmers State Bank (Regan, ND)

Episode Information

Episode UID
77099671488
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7709967 routing
Routing Number
77-0996
Start Date
December 14, 1923
Location
Regan, North Dakota (47.158, -100.528)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ef47a9c82e0164d8

Response Measures

None

Description

Bank closed December 14, 1923 and placed in receivership; later asset sales and guaranty-fund payments indicate permanent closure.

Events (5)
1. December 14, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent and closed on Dec 14, 1923; placed in hands of the general receiver.
Newspaper Excerpt
closed on December 14th, 1923, and having since been in hands of the General receiver
Source
newspapers
2. February 5, 1924 Receivership
Newspaper Excerpt
In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota... L. R. BAIRD, Receiver, First publication on, 5th day of February, 1924.
Source
newspapers
3. December 6, 1924 Other
Newspaper Excerpt
EFFORT BEING MADE TO OPEN BANK AT REGAN... the states attorney filed written reasons for dismissal... an effort is being made to reopen the bank.
Source
newspapers
4. September 18, 1926 Other
Newspaper Excerpt
Depositors' Guaranty Fund is now ready to pay a 10 per cent dividend on guaranteed deposits in banks officially closed after November 15, 1923... The Baldwin State Bank and the Farmers State Bank, Regan, are the only banks in Burleigh county included in this list.
Source
newspapers
5. September 27, 1928 Other
Newspaper Excerpt
L. R. Baird, Receiver of Farmers State Bank, Regan, North Dakota, will offer for sale all or a portion of the assets of the above named Bank.
Source
newspapers

Newspaper Articles (12)
1. February 5, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 5, 1924

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Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary youchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not SO filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated February 5th. 1924. L. R. BAIRD, Receiver, First publication on, 5th day of February, 1924." 2-5-12-19-26

2. February 12, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 12, 1924

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Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to créditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said claims are not so filed, they will be barred from any participation in any dividends which may be paid by the Receiver from the assets of said insolvent bank. Dated February 5th, 1924. L. R. BAIRD, Receiver. First publication on 5th day of February, 1924." 2-5-12-19-26

3. February 19, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 19, 1924

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Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Noticeis hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the under-

4. February 26, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, February 26, 1924

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Article Text

"NOTICE TO CREDITORS In the Matter of the Insolvency of the Farmers State Bank, Regan, North Dakota. Notice is hereby given by the undersigned, L. R. Baird, of Bismarck, North Dakota, as Receiver of the Farmers State Bank, Regan, North Dakota, to creditors of said insolvent bank and to all persons having claims against said insolvent bank to exhibit them and file them with the necessary vouchers with the undersigned receiver at his office at Bismarck, within four months after the first publication of this notice. If said/claims are hot so filed, they will be barred from any participation in any dividends which may be paid by the Receiver 'from the assets of said insolvent bank. Dated February 5th, 1924. D R BAIRD, Receiver. First publication on 5th day of February, 1924." 2-5-12-19-26

5. December 6, 1924 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, December 6, 1924

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Article Text

EFFORT BEING MADE TO OPEN BANK AT REGAN Charges Against O. R. Vold Dismissed - Explanation Filed by E. S. Allen The case against O. R. Vold, formerly an officer of the defunct Farmers tSate Bank of Regan, in which a charge of receiving deposits in an insolvent bank had been made, has been dismissed in district court by States Attorney E. S. Allen. Mr. Vold said today that an effort is being made to reopen the bank. The states attorney filed written reasons for dismissal. of the case, saying in part: "I am of the opinion that in this case it is doubtful if a conviction could be had, the facts would show that the defendant was irregular in his methods as an officer of the Farmers State Bank of Regan, and received deposits at a time when the bank, was in my opinion, insolvent, that is, such insolvency as is so defined by the code, but it would be very difficult to show that the defendant has actual knowledge of actual bankruptcy and insolvency, that is, that the assets were not equal to the liabilities, and the deposits were received by the defendant not for his own use but in a desperate effort to keep the bank open. The stockholders and depositors formed an association and appointed a committee to take steps to reopen the bank and to confer with the defendant and see if a settlement could be made with him, and at this time I am informed by the said committee that a satisfactory settlement has been made by them with the defendant and that in all probability the bank will reopen at a comparatively early date, and that they are willing that this action should be dismissed, the complaint in the justice court for the arrest of the defendant having been made under instructions of the said committee. This settlement and request for dismissal was done with the approval of the state examiner and the receiver of said bank, and they have informed me that I would be justified, under the circumstances, in asking for a dismissal of the said action against the defendant."

6. March 16, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, March 16, 1925

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Article Text

nier, and Patterson. Moved by Commissioner Soder, seconded by Commissioner Swanson, that, WHEREAS, the Farmers State Bank of Regan, North Dakota, is desirous of reopening the bank which was closed on December 14th, 1923, and having since been in hands of the General receiver, and WHEREAS, Burleigh County has on deposit in said Farmers State Bank of Regan, North Dakota, the sum of $5,000.00, and WHEREAS, a request is now made of this board that the County enter into a contract, with said Farmers State Bank of Regan, North Dakota, wherein the said bank will repay the County in the following manner Ten per cent in two years, twenty per cent in three years, thirty per cent in four years and the remaining forty per cent in five years from the date of the reopening of the bank, and that such contract is being entered into to enable the bank to reopen under the requirements of the State Guaranty Fund Commission. BE IT THEREFORE RESOLVED, That this board authorize the County Treasurer to sign such a contract in behalf of Burleigh County with the understanding, that if the bank does not open again, this contract shall be without effect. BE IT FURTHER RESOLVED, That the State's Attorney be required to draw an instrument in writing for the purpose of being signed by the bondsmen, and wherein the bondsmen will approve of such contract entered into, and wherein the bondsmen now on the bonds will continue on the bond to the County. Same being in accordance with the Attorney General's opinion dated April 22nd, 1924. When proper approval of the proper instrument signed by the bondsman has been approved and accepted by this board this resolution shall be in effect. Roll call Commissioner Soder, aye; Commissioner Moynier, aye; Commissioner Backman, aye; Commissioner Swanson, aye; Commissioner Patterson, No. Afternoon March 4th, 1925 The Board of County Commissioners reconvened with the following members present: Commissioners Soder, Backman, Moynier, and Swanson,

7. June 9, 1925 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, June 9, 1925

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Article Text

($3526.43) and the costs and expenses of foreclosure and sale. Dated this 9th day of June, A. D. 1925. FARMERS STATE BANK, REGAN, NORTH DAKOTA, By L. R. BAIRD. Receiver, Mortgagee. ZUGER & TILLOTSON, Attorneys for Mortgagee, Bismarek, North Dakota. 6-9-16-23-30-7-7-14

8. September 23, 1926 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 23, 1926

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Article Text

# NOTICE TO THE DEPOSITORS IN CLOSED BANKS Pursuant to provisions of Section 21, Chapter 200, Session Laws of 1923, the Depositors' Guaranty Fund is now ready to pay a 10 per cent dividend on guaranteed deposits in banks officially closed after November 15, 1923, and before January 1, 1924. The Baldwin State Bank and the Farmers State Bank, Regan, are the only banks in Burleigh county included in this list. Claims of depositors must be allowed by the receiver before they can be considered by the Guaranty Fund Commission. Forms and instructions for preparation of claims of depositors against the Guaranty Fund will be found at every state bank. Bismarck, September 18, 1926. DEPOSITORS GUARANTY FUND COMMISSION

9. September 30, 1926 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 30, 1926

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Article Text

NOTICE TO THE DEPOSITORS IN CLOSED BANKS Pursuant to provisions of Section 21, Chapter 200. Session Laws of 1923, the Depositors' Guaranty Fund is now ready to pay a 10 per cent dividend on guaranteed deposits in banks officially closed after November 15, 1923, and before January 1, 1924. The Baldwin State Bank and the Farmers State Bank, Regan, are the only banks in Burleigh county included in this list. Claims of depositors must be allowed by the receiver before they can be considered by the Guaranty Fund Commission. Forms and instructions for preparation of claims of depositors against the Guaranty Fund will be found at every state bank. Bismarck, September 18, 1926. DEPOSITORS GUARANTY PUND COMMISSION

10. September 28, 1928 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, September 28, 1928

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Article Text

NOTICE OF SALE L. R., Baird, Receiver of Farmers State Bank, Regan, North Dakota, will offer for sale, all or a portion of thè assets of the above named Bank, a list of which assets can be inspected by. anyone wishing to make bids, at the office of the District Manager, Bismarck, North Dakota. Sealed bids will be accepted up to and including October 15, 1928. The right is reserved to reject any or all bids. Dated at Bismarck, North Dakota, this 27th day of September. 1928. P. A. O'KEEFFE, District Manager for L. R. Baird, Receiver, Bismarck, North Dakota. 8:28-29; 10:5-6

11. October 5, 1928 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, October 5, 1928

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Article Text

NOTICE OF SALE L. R. Baird. Receiver of Farmers State Bank. Regan, North Dakota, will offer for sale all or a portion of the assets of the above named Bank, a list of which assets can be inspected by anyone wishing to make bids, at the office of the District Manager, Bismarck, North Dakota. Sealed bids will be accepted up to and including October 15, 1928. The right is reserved to reject any or all bids. Dated at Bismarck, North Dakota, this 27th day of September, 1928. P. A. O'KEEFFE, District Manager for L. R. Baird, Receiver, Bismarck, North Dakota. 8:28-29; 10:5-6

12. January 9, 1930 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, January 9, 1930

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Article Text

Receivership Suit Is Taken Up Before Jansonius in Court I A jury was drawn in district court, this forenoon, to hear the suit of L. R. Baird. as receiver of the Farmers State Bank of Regan, against 12. C. Folmer, a civil action involving the validity of a bill of sale. Judge Fred Jansonius is sitting in the case. The jurors selected were George Haugen, Russell Barneck. Louis Martineson, Homer Craven, G. A. Bossert, E. E. Williams, Oscar Selvig, Allen Sawyer. Harold Breen, Fred Smith. Frank Paul and Henry McClosky. Judge Jansonius concluded the hearing in chambers of Albert Bossert. on a charge of illegitimate parentage. The jury declared the charged proved.