First National Bank (Aurora, NE)

View Charter #2897 on SPMC View balance sheet

Episode Information

Episode UID
289701609
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
28970 national
Charter Number
2897
Start Date
January 5, 1934
Location
Aurora, Nebraska (40.867, -98.004)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cd413828eb939a5d

Response Measures

None

Description

Bank in conservatorship with RFC preferred stock and comptroller approval for recharter.

Events (5)
1. March 12, 1883 Chartered
Source
historical_nic
2. January 5, 1934 Other
Newspaper Excerpt
BANK WAIVERS BEING SIGNED BY DEPOSITORS ... The Aurora Banks Reporting Progress Toward Their Reopening Soon
Source
newspapers
3. January 26, 1934 Reopening
Newspaper Excerpt
The reorganization of the First National bank in Aurora is proceeding and the final papers for the approval of the comptroller of the currency prior to the granting of the new charter have gone forward to Washington.
Source
newspapers
4. April 28, 1934 Voluntary Liquidation
Source
historical_nic
5. * Suspension
Cause
Government Action
Cause Details
Bank placed in conservatorship and undergoing reorganization under a conservator and RFC involvement
Newspaper Excerpt
The reorganization of the First National bank in Aurora is proceeding ... L. C. Opper, the conservator of the old bank
Source
newspapers

Newspaper Articles (2)
1. January 5, 1934 Aurora News-Register Aurora, NE

Article Text

BANK WAIVERS BEING SIGNED BY DEPOSITORS The Aurora Banks Reporting Progress Toward Their Reopening Soon Both the First National Bank and the Farmers State Bank of Aurora are encouraged over the response to their waiver letters recently sent out to all depositors of their institutions. The signatures are coming in promptly and a large number have been received at the bank, sufficient to assure the banks that an ample number of names will be received to put through the plans as outlined by each. Some signatures have of course been delayed, as depositors are residing out of town and state. The resolutions on the approval of the preferred stock of the National Bank were passed in Washington on December 12th. The Farmers State Bank received their authorization for the submission of contract agreements from Merle N. Foster, chief examiner of the state banking department. general balance of $15,089.77 protected by the pledge of assets and that the certificates of deposit for the cemetery fund amounting to $14,59 were trust funds; that they were placed in the bank by officers of the bank who were also city officers and at no time were considered a part of the funds to be used by the bank. The city has already won its case involving its claim for the prompt payment of $29,357. The state supreme court held that the bank had the right to secure city deposits with the bank's assets. The new question arose because assets with a face value

2. January 26, 1934 The Grand Island Independent Grand Island, NE

Article Text

ANNUAL MEETING; AURORA BRIEFS Aurora, Neb. Jan. 26. (Special)—Charles Williams, son of Mr. and Mrs. H. R. H. Williams, formerly of Aurora, was among the 17 students at the Nebraska university who were initiated this week into Pi Mu Epsilon, national honorary mathematics society. Charles is a graduate of the Aurora high school. The Aurora Elevator company held its twenty-fifth annual meeting at the Fidelity hall in Aurora Tuesday, at 11 o'clock. The wives of the stockholders were guests, observing the twenty-fifth anniversary. J. W. Shorthill of Omaha, secretary of the Farmers West Central Grain company, was the guest speaker. Mr. Shorthill was the first manager of the company when it was organized. At the close of the business meeting the books for 1933 showed a net profit of more than $5,000.00 for the year over and above all expenses. About 200 attended the banquet. The reorganization of the First National bank in Aurora is proceeding and the final papers for the approval of the comptroller of the currency prior to the granting of the new charter have gone forward to Washington. Frank C. Crone of Kearney who will be the executive vice-president of the new bank is now in Aurora assisting L. C. Opper, the conservator of the old bank in setting up the new books and making the necessary reports to the Reconstruction Finance corporation. The new bank will have $20,000 of preferred stock owned by the Reconstruction Finance corporation as soon as the final approval has been secured. Frank M. Farr of Paxton who will be the cashier of the new bank is expected in Aurora within a day or two. The common stock has all been paid in. At the Wednesday noon luncheon of the Aurora Rotary club Robert H. Graham, manager of the Iowa-Nebraska Light and Power company in this district was the guest speaker. He discussed the public utility questions from the standpoint of the electric light companies. He quoted figures to show that water power is not as economical as power produced in fuel plants. He stated that in all of the privately owned public utility plants were put out of business by public ownership, the taxes of the public would be greatly increased because of the loss of revenue through the destruction of the private plants.