Dakota Trust & Savings Bank (Sioux Falls, SD)

Episode Information

Episode UID
78000771493
Episode Type
Run β†’ Suspension β†’ Closure
Bank Type
trust
Bank ID
7800077 routing
Routing Number
78-0007
Start Date
May 12, 1924
Location
Sioux Falls, South Dakota (43.550, -96.700)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
df81eaca4f7d4a12

Response Measures

None

Events (2)

1. May 12, 1924 Run
Cause
Local Banks
Cause Details
Large withdrawals depleted reserves amid recent local bank closings and city-wide cash panic.
Measures
No specific measures reported to stem withdrawals prior to suspension.
Newspaper Excerpt
the suspension was made necessary by depleted reserves caused by withdrawals.
Source
newspapers
2. May 12, 1924 Suspension
Cause
Local Banks
Cause Details
Suspension followed depleted reserves caused by heavy withdrawals in the local banking crisis.
Newspaper Excerpt
The Dakota Trust & Savings Bank ... suspended business today and was placed in the hands of the state superintendent of banking.
Source
newspapers

Newspaper Articles (12)

Article from The Buffalo Commercial, May 12, 1924

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Article Text

SIOUX FALLS BANK SUSPENDS BUSINESS SIOUX FALLS, S. D., May 12.β€”The Dakota Trust & Savings Bank of Sioux Falls, a state bank, suspended business today and was placed in the hands of the state superintendent of banking. The bank's statement for April showed deposits of $1,048,000, a decrease of $112,000 over December.


Article from New Britain Herald, May 12, 1924

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Article Text

S. D. BANK CLOSES Sioux Falls, 8. D., May 12. - The Dakota Trust and Savings Bank of Sioux Falls a state bank, suspended business today and was placed in the hands of the state superintendent of banking. The bank's statement for April showed deposits of $1,048,000, a decrease of $112,000 over December.


Article from The Andalusia Star-News, May 12, 1924

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Article Text

Big Bank Suspended (By Associated Press.) SIOUX FALLS, S. Dak., May 12β€”The Dakota Trust and Savings Bank is suspended, officials intimating that suspension was made by the depleted reserves caused by withdrawals. Deposits were more than a million.


Article from The Gadsden Times, May 12, 1924

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Article Text

BANK SUSPENDS By Associated Press Sioux Falls, S. D., May 12.β€”The Dakota Trust and Savings Bank here suspended, officials intimating that the suspension was made necessary by depleted reserves caused by withdrawals. The deposits are more than a million.


Article from The Dothan Eagle, May 12, 1924

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Article Text

ANOTHER BANK FAILS (By Associated Press) Sioux Falls, S. D., May 12.β€”The Dakota Trust and Savings Bank has suspended, officials intimation that the suspension was made by depleted reserves caused by withdrawals. The bank had deposits of more than a million.


Article from The Cincinnati Enquirer, May 13, 1924

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Article Text

DAKOTA BANK CLOSED. Sioux Falls, S. D., May 12.β€”The Dakota Trust and Savings Bank of Sioux Falls, a state bank, suspended business to-day, and was placed in the hands of the State Superintendent of Banking.


Article from The Cincinnati Enquirer, May 13, 1924

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Article Text

DAKOTA BANK CLOSED. Sioux Falls, S. D., May 12.β€”The Dakota Trust and Savings Bank of Sioux Falls, a state bank, suspended business to-day, and was placed in the hands of the State Superintendent of Banking.


Article from The Springfield Daily Republican, May 13, 1924

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Article Text

SIOUX FALLS (S. D.) BANK GOES INTO STATE'S HANDS Sioux Falls, S. D., May 12β€”The Dakota Trust and Savings bank of Sioux Falls, a state bank, suspended business today and was placed in the hands of the state superintendent of banking. No reason was given for the closing in a statement posted on the door, but many officials intimated that the suspension was made necessary by depleted reserves, caused by withdrawals. The bank's statement for April showed deposits of $1,048,000, a decrease of $112,000 over December.


Article from Record-Journal, May 13, 1924

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Article Text

Dakota Bank Suspends. Sioux Falls, S. D., May 12.β€”The Dakota Trust and Savings bank of Sioux Falls, a state bank, suspended business today and was placed in the hands of the state superintendent of banking. The bank's statement for April showed deposits of $1,048,000, a decrease of $112,000 over December.


Article from Brooklyn Eagle, May 13, 1924

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Article Text

Sioux Falls, S. D., May 13β€”The Dakota Trust and Savings Bank of Sioux Falls, a State bank, suspended yesterday, and was placed in the hands of the State Superintendent of Banking.


Article from Riverside Daily Press, May 13, 1924

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Article Text

Serious Bank Crisis In South Dakota SIOUX FALLS, S. D., May 14. A million dollars in cash was rushed into Sioux Falls by the Federal Reserve bank today to save the city's three remaining banks, while the grand jury investigates the closing of five others within the past few months. The Dakota Trust and Savings bank locked its doors yesterday.


Article from The Daily Worker, May 19, 1924

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Article Text

Another Bank Busted. SIOUX FALLS, S. D., May 18.Another state bank has fooled the workers and farmers who had deposits in its keeping. The Dakota Trust and Savings Bank of this city suspended business and was placed in the hands of the state superintendent of banking. No definite reason for failure was made public, altho it is intimated by officials, that withdrawals during the last six weeks had depleted reserves. Boost The DAILY WORKER. If you are a worker, it is your paper.