First State Bank (Beaver City, NE)

Episode Information

Episode UID
2119735191583
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
211973519 hash
Start Date
November 20, 1931
Location
Beaver City, Nebraska (40.138, -99.830)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d677884f1a6d2f07

Response Measures

None

Events (3)
1. November 20, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Continued heavy withdrawals and sharp decline in deposits (from $715,000 to $235,000 over 18 months) as debtors could not pay notes quickly enough
Measures
Examiner Richard Hadley placed in temporary charge; plans for reorganization and access to safety deposit boxes mentioned
Newspaper Excerpt
First State Bank suspended ... The suspensions was caused by continued withdrawls which caused decline in deposits from $450,000 to $235,000 in the last year
Source
newspapers
2. November 20, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended business due to continued withdrawals and decline in deposits making payments impossible
Newspaper Excerpt
First State Bank suspended The business last Friday morning. The suspensions was caused by continued withdrawls
Source
newspapers
3. May 10, 1932 Reopening
Newspaper Excerpt
The reorganized First State bank was opened today after being closed five months. ... The state department of trade and commerce today announced the reorganization and reopening of the First State bank of Beaver City.
Source
newspapers

Newspaper Articles (9)
1. November 26, 1931 The Times-Tribune Beaver City, NE

Article Text

FIRST STATE BANK CLOSED First State Bank suspended The business last Friday morning. active caused by conThe suspension was withdrawals which caused tinued from $450,000 to decline in deposits in last and from the year eighteen months ago. top of amounted more than had 90 days. People day for the past the bank could not pay indebted to rapidly enough to meet their notes declining deposits. Richard Hadley Examiner listing all assets temporary charge, liabilities. By Saturday will be in charge hoped some give customers access who etc. unsafety deposit made up by derstood estimates indicate that in the event Hadley depositors could of immediately for be given credit all their deposits and practically of be little that there would probably but stockholdloss anyone any event of any reorganizathe tion will no doubt be necessary for draw but to depositors of their deposits for some percentage recurrence of the time to prevent recent trouble. without bank is Beaver community will thinkable. entire or the to reorganize reopen co-operate bank.

2. December 3, 1931 South Side Sentinel Danbury, NE

Article Text

BEAVER BANK SITUATION LEBANON LOCALS Mr. and Mrs. Byrne Fletcher and son Albert of Junction City, Kans., visited from Thursday until Sunday with Mrs. Fletcher's uncles, John Horton and other L. and Henry relatives. George Nestle spent Friday night at the John Weber home. We clip the following from last week's Beaver City "The First State Bank suspended active business last Friday morning. The suspensions was caused by continued withdrawls which caused decline in deposits from $450,000 to $235,000 in the last year and from top of $715,000 eighteen months ago, It had amounted to more than $1000 day for the past 90 days. People indebted to the bank could not pay their notes rapidly enough to meet the declining deposits. Richard is in Examiner Hadley By Saturday It is and hoped one will be in charge some who can give customers access to safety deposit boxes, etc. It is understood the estimates made up by Mr. Hadley indicate that in the event of reorganization depositors could be given credit immediately for practically all of their deposits and that there would probably be little loss to anyone but any necessary for depositors to agree draw but of their depercentage recurrence of the recent trouble. Beaver City without a bank is thinkable. The entire community will co-operate to reorganize or open the bank." Mr. and Mrs. Ray Weber were Thanksgiving dinner guests parental John Weber home. Miss Arlene Welborn spent from Thursday until Saturday with her parents, Mr. and Mrs. L. M. Welborn and family. and Mrs. John Horton Mr. entertained party Friday evening, Mr. and Mrs. Byrne Fletcher and Albert of Junction City, Kans., Mr. and Mrs. L. Flechter, Mr. and Mrs, H. L. Nichols and family, Henry Horton and Miss Ada Moss. Mrs. Horton served a lovely Miss Ada Moss of Danbury spent until Sunday with from Thursday Lorine Nichols and Mr. and Mrs. H. family entertained at Thanksgiving Mr. and Mrs. Byrnie Fletcher dinner, Albert of Junction City, Kans., and Moss of Danbury, Mr. and Miss Ada Horton, Mr. and Mrs. Mrs. John Len Flechter and Henry We learn that From the news Out pay their taxes this the victim manages country until he regain consciousness his tax receipt. gets

3. May 10, 1932 The Columbus Telegram Columbus, NE

Article Text

REORGANIZED BANK AT BEAVER CITY OPENED May 10 First bank of City, reorganized, re-capitalized and made by for the state ment of trade and nounced. The bank suspended Nov. 20. Capital stock of the re-organized bank ident and Nickerson, The bank re-opening made gala occasion. Classes were dismissed in the city schools. The school children, headed by band, marched to the bank. program Robert Scott, one of the counremaining civil erans, was first depositor the re-opened institution.

4. May 10, 1932 The Lincoln Star Lincoln, NE

Article Text

CELEBRATE WHEN BEAVER CITY BANK OPENS ITS DOORS BEAVER CITY, Neb., May 10—(AP)—The reorganized First State bank was opened today after being closed five months. Frank Keiser is president. Citizens and school children, headed by a band, gathered at the bank at 9 a. m. During the program depositors stood in line to leave money. The first depositor was Robert Scott, a 90-year-old Civil war veteran. — The state department of trade and commerce today announced the reorganization and reopening of the First State bank of Beaver City. The bank suspended business Nov. 20, 1931. Stockholders re-capitalized the institution with a view to ultimately paying the depositors in full. The bank opened with capital stock of $30,000, with A. F. Keiser as president; A. B. Brown, vice president, and A. T. Nickerson, cashier.

5. May 10, 1932 The Grand Island Independent Grand Island, NE

Article Text

REORGANIZE BANK Lincoln, May 10. (AP)—The state department of trade and commerce today announced the reorganization and reopening of the First State bank of Beaver City. The bank suspended business Nov. 20, 1931. Stockholders re-capitalized the institution with a view to pay the depositors in full eventually. The bank opened with capital stock of $30,000, with A. P. Keiser as president; A. B. Brown, vice-president, and A. T. Nickerson, cashier. The department also announced the payment of a 40 percent dividend to depositors of the Hoskins State bank at Hoskins. The dividend, the first paid these depositors, totals $76,645.09. A dividend of $8,068.73 was announced for depositors of the Washington county bank at Fort Calhoun. It amounted to seven percent. Payments already made depositors total

6. May 10, 1932 Norfolk Daily News Norfolk, NE

Article Text

Deaths Vernon Linn Vernon Linn, nephew of Mrs. Olson of Norfolk whom he lived while attended Norfolk high school, Monday morning Springfield, III., after an illness of eleven months, according to word receivby relatives here. Mr. Linn graduated from Norfolk high school and then worked Norfolk for time. leaving here employed by the Kresge company in mont and from there was transferred to Springfield, Thenhaus and Howser in charge of funeral arrangements, and the body expected Norfolk Mr. Linn survived by brothers, Victor and Floyd, sisters, Miss Mabel Linn, Mrs. Livenden: his aunt, Mrs. son; and cousin. Miss Mabel all Norfolk. Beaver City Bank Reopens Lincoln, May state department and commerce today announced organization and reopening the First State bank Beaver City. The bank suspended business Nov 1931 Stockholders the institution with view to pay the depositors in full The bank opened with capital stock of News your home paper.

7. May 10, 1932 The McCook Daily Gazette McCook, NE

Article Text

Beaver City Depositors Re-Open a Failed Bank Lincoln, May 10—(U.P.)—The First State bank of Beaver City, re-organized, re-capitalized and made solvent by stockholders, re-opened for business today, the state department of trade and commerce announced. The bank suspended Nov. 20, 1931. Capital stock of the re-organized bank is $30,000. A. F. Keiser is president; A. B. Brown, vice president, and A. T. Nickerson, cashier.

8. May 11, 1932 Kearney Hub Kearney, NE

Article Text

RE-OPEN BEAVER BANK. Lincoln, Neb., May First State Bank of Beaver City, reorganized, re-capitalized and made solvent by stockholders, re-opened for business yesterday, state depart of trade and commerce announced. The bank suspended on November 20, 1931. Capital stock of the re-organized bank is $30,000. A. Keiser is president; B. Brown, vice president and T. Nickerson, cashier.

9. May 11, 1932 The Stockman's Journal Omaha, NE

Article Text

Beaver City Celebrates Reopening of State Bank Beaver City, Neb., May 11 First State bank, Beaver City, organized, recapitalized solvent stockholders, reopened for The bank November 20, 1931. Capital stock of the reorganized bank F. Keiser ident; Brown, president, Nickerson, The bank reopening was made the schools. school dren, headed by band, marched to the bank Robert the county's civil was the first depositor in the reopened institution.