First State Bank - New York Mills, MN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 21, 1926
Location: New York Mills, Minnesota (46.518, -95.376)

Metadata

Model: gpt-5-mini
Short Digest: c21fe8f5

Response Measures

None

Description

Newspaper (May 21, 1926) reports First State Bank, New York Mills, MN, was closed because of lack of reserves. No run is mentioned; closure appears permanent in this brief notice. OCR corrected minor spacing/grammar; bank name and reason clearly given.

Events (1)

1. May 21, 1926 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closed due to lack of reserves (poor loans/insufficient reserve funds).
Newspaper Excerpt: First State Bank New York Mills which had $230,000. Ed. Larson president and Charles This bank closed because of lack of reserve.
Source: newspapers

Newspaper Articles (1)

1. May 21, 1926 The Bismarck Tribune Bismarck, ND

Article from The Bismarck Tribune, May 21, 1926

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Article Text

Two Minnesota Banks Are Closed St. Paul, May state banks, deposits proximately were closed day because of lack of reserve and loans, Veigel, banks, The County State Bank with deposits totaling closed because of poor loans. Landeene is Landeene cashier. other bank closed First State Bank New York Mills which had $230,000. Ed. Larson president and Charles This bank closed because of lack of reserve.