News: Rib Lake (Bank Takeover - 1941)
Contact: Robert Lipprandt
----Source: The Star News (Medford, WI) 1/14/2016
Originally published January 16, 1941, in The Star News.
Clifford L. Curren, cashier of the First National Bank of Rib Lake, stated yesterday that the institution is being taken over by the State Bank of Medford.
This move was decided upon a few weeks ago but no definite action was taken on it until this week.
The Medford bank assumes the liabilities of the depositors of the Rib Lake bank in consideration of taking over the assets of the bank, Curren explained. He added that there will be no officers and that a receiving and disbursing station will be maintained by the Medford bank at Rib Lake.
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