Nebraska State Savings Bank (Wahoo, NE)

Episode Information

Episode UID
76012671564
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
7601267 routing
Routing Number
76-0126
Start Date
April 15, 1930
Location
Wahoo, Nebraska (41.211, -96.620)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
83d59bcc8d9310e9

Response Measures

None

Events (2)
1. April 15, 1930 Suspension
Cause
Government Action
Cause Details
State Banking Department/Board of Examiners closed and took charge after slow collections depleted reserves
Newspaper Excerpt
This caused the State Banking Board to take over the Nebraska State Savings Bank
Source
newspapers
2. January 15, 1931 Receivership
Newspaper Excerpt
Clarence G. Bliss, Receiver of the Nebr. State Bank of Wahoo, has filed petition in district court
Source
newspapers

Newspaper Articles (8)
1. April 17, 1930 The Sioux City Journal Sioux City, IA
Article from The Sioux City Journal, April 17, 1930

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Six Saunders County Banks Close Doors Lincoln, Neb. (AP) Six small banks in Saunders county, with deposits aggregating $1,400,000, have been closed in two days. They were part of privately owned chain/in which F. J. Kirchman had the controlling interest. The break came Tuesday when the Saunders County National bank, with deposits of $500,000, and the Nebraska State Savings bank shut their doors. Both were in Wahoo, the county seat. The state banking department Wednesday announced the closing of four other institutions in smaller Saunders county towns. Wisner Early Settler Dies Wisner, Neb. Special: Julius Jahns, 79, resident Wisner and vicinity 48 years, died in a Norfolk

2. April 17, 1930 The Independent Wahoo, NE
Article from The Independent, April 17, 1930

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OF WEEK Made Being and Open Within Short Time COLLECTION SLOW Kirchman, States That "Depositors Will Not One Citizens Wahoo and Saunders surprised by the closthe chain of banks of of which Kirchcounty banker, president, during Tuesday Wednesday. Wahoo institutions, Nebraska State Savings Bank and The Saunders County National Bank closed Tuesday former was closed by the banking and the closed by the board shortly following. The banks Weston, Touhy, Valparand which Mr. chman president closTuesday afternoon and Wednesday morning. combined deposits of all the banks involved but "not dollar lost the depositors,' President Kirchman stated. possible effort being pended reorganize" he said, whether this possible can told for certain until after examiners have completed their reports." have spent years Mr. Kirchman said, all that time have always during transactions according governed best judgment and the this unfortunate condifor tion entirely to slow the banks cannot be tions. shall be stripped, but opened will not still very hopeful am the banks soon the examiner ready port President Kirchman although can't tell

3. April 17, 1930 The Independent Wahoo, NE
Article from The Independent, April 17, 1930

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To the People of and Saunders County: to continued low prices of farm products, Owing bank collections have been rendered slow. Unwilling the of farm notes the Kirchman afto force payment filiated banks suffered depletion of their reserves. This caused the State Banking Board to take over the Nebraska State Savings Bank, and because this bank occupies the same building, the continued operation of the Saunders County National Bank became unand by voluntary act of the Board of Directtenable, ors, sanctioned by the Federal Reserve Bank, the Saunders County National bank suspended business.

4. April 17, 1930 Wahoo Newspapers Wahoo, NE
Article from Wahoo Newspapers, April 17, 1930

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The state Banking Department closed the Nebraska State Savings Bank here last Tuesday noon. The Saunders County National Bank, operated in the same building with the same officers, was closed at the same time by order of the Board of Directors. Slow collections caused the banks to close their doors. "None of the depositors in either bank will lose a penny," declared F. J. Kirchman, president of the two institutions. "There are adequate assets to take care of everybody. "Steps are already under way to re-organize the National Bank. After the Banking Department had closed the Nebraska State Savings Bank, the Board of Directors voted voluntarily to close the National Bank." Organized in 1882. The state bank was organized by George W. E. Dorsey of Fremont in 1882, and the Saunders County National came into existence two years later. The banks have grown steadily, and were among the first small town banks in the state to have a million dollars in deposits. F. J. Kirchman, president of the institutions, has been connected with these banks continuously for almost a half century. He came to Wahoo, December 15, 1884, and accepted an unimportant post in the bank. In 1893 he was appointed assistant cashier, and his rise was rapid thereafter. He was promoted to vice president in 1900 and to president in 1923. Other officers of the bank are: W. H. Kirchman, cashier; F. J. Kirchman, jr., assistant cashier; Malcolm Anderson, assistant cashier; Charles T. Podhaisky, assistant to the president; Frank Podhaisky, Teller; Max Safranek, clerk; Arnold Kirchman, clerk; Roy Swanson, bookkeeper. The last statement of the two banks showed combined deposits of $768,148.04, $273,646.32 credited to the Nebraska State Savings Bank and $494,501.72 to the Saunders County National. Total resources were $1,211,038.51. Examiner R. H. Larson is in charge of the Savings Bank and Examiner F. S. Nelson is in charge of the National Bank. In a statement issued today, State Bank Commissioner George Woods declared the failure of the two Wahoo banks precipitated the closing of the following affiliated banks in Saunders county: State Bank of Touhy, whose officers are Jul Petermichel, president; F. J. Kirchman, vice president; W. H. Kirchman, vice president, and M. A. Kirchman, cashier, with deposits of $32,465.57. Farmers and Merchants bank, Weston, whose officers are F. J. Kirchman, president, Jul Petermichel, vice president, Ferdinand Pacal, cashier, James Pavlik, assistant cashier, deposits $168,967.72. State bank, of Colon, whose officers are F. J. Kirchman, president; F. J. Bastar, vice president; J. A. Sams, vice president; E. H. Henderson, cashier, deposits, $207,276.92. Oak Creek Valley bank, Valparaiso, whose officers are F. J. Kirchman, president; Jul Petermichel, vice president; H. L. Mosgrove, cashier; J. V. Roh, assistant cashier, deposits $251,136.12. Examiner Nelson of the National banking system is in charge of the Saunders County National bank, while the following state bank examiners have been placed in charge of the state banks: R. H. Larson, Nebraska State Savings, Wahoo; J. E. Hollingsworth, State Bank of Touhy; J. F. McLain, Farmers and Merchants at Weston; L. C. Sorensen, State Bank, of Colon; Virgil S. Lee, Oak Creek Valley Bank at Valparaiso. While a run on the other banks in the city is not anticipated, the First National and Citizens State Banks have fortified themselves with large sums of cash to meet any demand that might be made. One of the heaviest creditors of the Saunders County National Bank is Saunders County which had $25,000 on deposit. These funds are protected by surety bonds, however, in addition to the responsibility of the bank. SILENCE IS GOLDEN The local financial situation calls for an exercise of more than ordinary patience and forbearance until the banks have an opportunity to re-organize or recoup as best they can their shattered fortunes. It is going to profit no one, by reviling and charging officials with derelictions of duty. The situation is sufficiently grave without adding to the tension already existing. Let us be brave enough to refrain from hurtful comment for the time being, at least. There is no occasion for radical thought or action. It is unthinkable that Saunders county, one of the richest in Nebraska, cannot rise above the present temporary financial flurry and emerge stronger and safer than ever. We should take council one with the other and refrain from doing anything that might further injure the business of the community or the county. This is one of the occasions in life when silence is golden. WILLS AND ESTATES EVA KNOBE The estate of Eva Knobe of Ashland, who died at Lincoln, March 28, has been filed for probate. Personal property is estimated at $4,200. The heirs are: Edwin P. Knobe, husband, Ashland; Gordie I. Knobe, son, Haxtum, Colo.; Marcus C. Knobe, son of Ashland; Stella Williams, daughter Greenwood; Catherine Lohr, daughter, Ashland; Grace Sutton, daughter, Waverly. ANNA FRANSON The will of Anna Franson, who died at Colon, March 27, has been filed in county court. The estate consists of approximately $28,000 in real estate and $11,000 in personal property. The heirs are: Victor E. Franson, son, of Colon; Elmer J. Franson, son, Colon; Edna M. C. Anderson, Colon, daughter. The latter is petitioner and the petition requests that Victor F. Franson and Elmer F. Franson execute the will. C. F. Galloway is the attorney. JOSEPH CIZEK The will of Joseph Cizek, who died at Prague, March 29, was filed this week. The heirs are: Katherine Cizek, widow; Thomas, Joseph and James Cizek, sons; Marie and Agnes Cizek, daughters. The petition, filed by Marie Cizek, asks that Catherine Cizek be appointed administratrix. Slama and Donato are the attorneys. JIRI BARTEK A petition for determination of Heirship has been filed in the estate of Jiri Bartek, who died Aug. 5, 1913. The petition alleges that more than 2 years have elapsed and no administrator has been appointed. The living heirs are: Joseph, John, George, Andrew, Sylvester and Julius Bartek, sons of the deceased and Kamilla Kash Veronika Zetochka, Emma H. Bartek, daughters. Joe F. Berggren is the attorney. CHARGED WITH FORGERY Rudolph Kracman, arrested at Malmo by Sheriff Mengel, was arraigned before Justice Lehr on a charge of forging a check for five dollars on R. C. Van Osten, farmer. Kracman pled guilty and was bound over to District Court. He is being held in the county jail pending sentence. ELECTRICAL WIRING Electrical wiring and repairing of all kinds by certified electricians. Anderson & Webster Electrical Co., Phone 171, Wahoo.

5. April 17, 1930 Wahoo Newspapers Wahoo, NE
Article from Wahoo Newspapers, April 17, 1930

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TO THE PEOPLE OF AND SAUNDERS COUNTY Owing to continued low prices force the payment of farm affiliated banks suffered depletion their reserves. caused the Banking Board take the Nebraska Savings Bank, bank occupies same building, the operation the Saunders County National Bank became untenable by voluntary act the Board Directors, the Federal Reserve Bank, Saunders County National bank suspended business. Closing banks community always creates unrest easiness, informed upon good authority that the actual condition appearances would already looking the organization banks and our good hopeful. reliably that slight, and the slight, there will be among vast number be felt by any Hearty co-operation on the the people will aid materially speedy re-organization. Where all possible, the people to strain point their hey can. Kindly lend hand. Signed, Wahoo Chamber of Commerce. ASSAULT AND BATTERY Edward Hancock Rand Snook with assault and battery complaint filed Tuesday George The alleges that the occurred highway tween Cedar Bluffs and Fremont April

6. January 15, 1931 Wahoo Newspapers Wahoo, NE

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District Court NEW FILINGS Forclosure of Mortgage H. A. Bryant as attorney for Joe L. Vybiral, Frantiska Vybiral, Clarence G. Bliss, Receiver of the Nebr. State Bank of Wahoo, has filed petition in district court against Joe J., Anna, John F. and Anna S. Maly, wherein he seeks to foreclose mortgage on the south half of the northeast quarter and the northeast quarter of the southwest quarter, section 4, township 14, for the sum of $4,200.00 Joseph Jansa, farmer living near Valparaiso, in an action naming the Nebraska State Bank, Valparaiso, Joseph B. Tomes, Clarence A. Bliss, secretary of the department of trade and commerce, and Kenneth A. Tooley as defendants seeks to have a certain chattle mortgage in the sum of $3,340, removed from record and cancelled. Jansa claims in his petition that on or about the 21st day of March, 1929, that he executed a chattel mortgage on certain personal property in the above amount and that on the 5th of April, 1929, he and his wife executed and delivered a mortgage on the southeast quarter of the east half of the southwest quarter of section ten, township 13, to the defendants, as substitute for the prior chattel mortgage. He claims that the chattel mortgage should have been removed from record at that time but it was never done. H. C. Lowe is the plaintiff's attorney.

7. June 22, 1933 The Independent Wahoo, NE

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Order issued for quiet title action on SE1/4NE1/4 Sec. 15, 14, 6. State Bank receiver vs State et al. Order issued for administrator of Katie Kraft estate to sell N1/2 of E1/2 Lot 9, and North 74 feet and 4 inches of lots 10, 11, and 12, in Block 165, and also south 52 feet, 2 inches of Lots 10, 11, and 12, Block 165. Said sale to be held on August 15th at 10 a. m. State of Nebraska vs Andrew Monia. Journal entry. Upon plea of guilty, sentence suspended for 2 years and defendant placed in charge of Sheriff Mengel. He shall refrain from violating any criminal laws; he shall refrain from using intoxicating liquors, visiting places of ill repute or associating with persons of questionable character; he shall report to sheriff every 30 days; he shall not leave the state; if any violations are made he shall be brought into court. State of Nebraska vs Wm. Overturf, jr. Pled guilty. Paroled to sheriff same as above. State of Nebraska vs Earl Peterson. Pled guilty. Paroled to sheriff same as above. State of Nebraska vs Roy Peterson. Pled guilty. Paroled to sheriff same as above. Petition of Intervention of James S. Matejicek in State vs Nebraska State Savings Bank, dismissed and claim disallowed. Petition of Intervention of Karl Burmeister, City Treasurer, John Thorston, A. J. Brodahl and Elmer Risk in State vs Citizens State Bank on $9172.65 allowed as a general claim against bank as city was "otherwise secured" by bond. Bondsmen paid $4500 on claim. This means that claim to follow payment of depositors in full.

8. September 7, 1933 The News Cedar Bluffs Standard Cedar Bluffs, NE

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Interesting Items from Wahoo (Wahoo Wasp) Johnson Pled Not Guilty Elmer Johnson, charged with giving a false statement" of his financial condition to the First National Bank, pled not guilty and waived preliminary hearing in his arraignment before District Judge H. D. Landis, Monday. Bond of $3,999.00 was furnished by Olof Berggren and Homer Wilson. The trial will probably be held during the September term of court. Woods Arraigned on Manslaughter Charge. Cortis Earl Wood, allegedly confesed slayer of his father, Corliss E. Wood, at the latter's farm home eight and onehalf miles east of Ceresco on the night of July 18, pled not guilty to a charge of manslaughter when arraigned before Judge Landis Monday afternoon. His bond was set at $25,000.00, one of the largest bonds ever demanded by a court in this county. It is likely that young Mr. Wood, through his attorney, Wortman, of Ashland, will plead self-defense. In justice court he testified that he and his father had been drinking, and that he went to bed about eight o'clock with a fever. He testified that an argument ensued between the elder Mrs. Wood and her husband, culminating in the threat of the father to kill all of them with smali bore shotgun. Both Mrs. Wood and her son testified that the latter rose from his bed and wrested the shotgun from this father's hands. During the struggle, it is alleged that the gun dis charged, killing the father. The boy ran a half mile to the home of Bill Jacobs to phone the sheriff that he had killed his father. The elder Mr. Wood and his wife had been estranged, and were divorced in 1910. Recently she returned with her son from Oklahoma to make their home with the elder Mr. Wood. Wood, unable to raise bond, is still in the county jail Sheriff Asks for Gollector Sheriff Mengel will go before the Board of Commissioners this week and ask that a tax collector be appointed for the county. It is understood that both the county attorney and county treasurer have approved the move. "Such collector would unquestonably earn more than his wages, the sheriff declared. "Our various other duties prevent us from giving proper attention to the matter of tax collecting. We have in mind several persons who are admirably fitted for the post, and need the employment. Distress warrants for unpaid 1922 taxes, totalling approximately $1,309, were delivered to the sheriff's office this week. Believe It or Not. Strange tales come from a neighboring city which if true call for some drastic action. The story goes that a farmer wished to borrow $100 on some chattels. He called at his attorney's office to draw up the mortgage; the attorney was absent, SO he saw another sign which indicated a lawyer's office. The farmer wished to give the mortgage to his wife, but the attorney advised that this would not be legal, as he had other debts, and suggested that he get the money from a finance company. They arranged with the finance company, who looked up the property, and then it is charged, he was given a check which he was told to take to the bank and get the cash and bring it back to them. It seems this was done and then the finance company charged him $50 for making the loan, and the attorney charged him $50 for advice and assistance. The case is getting aired in the community and the farmer will probaly get his mortgage cancelled. This may all be fiction, but the smell travels a long ways. District Court Orders Johnson vs. Olson. Supplemental decree entered correcting words first lien" to valid lien and the Wahoo Mutual L. & B. Association, Nebraska State Savings Bank, Emma M. Stratton, Olof Berggren, J. E. Wilson, Mildred E. Johnson and May B. Johnson were made parties defendants. Elizabeth St. Martin vs. Nebraska State Savings Bank. Receiver's report received and balance on hand of $153.92 ordered distributed between four parties interested and Hruby's note delivered to them. Olander Freeman et al vs. Jos. Hruby et al. Sale confirmed. Deed ordered to O. Freeman and Hulda Bergren of W 1-2 SE 1-4 sec. 34, 14, 5. Nellie Dailey VS. Frank Froh ner et al. Order to show cause issued. Durrell ve. Anderson et al. Sale confirmed. Emma Vybiral vs. Marie Krafka, et al Order to show cause issued. Harry L. Mogrove et al, trustees vs. Joseph Krafka et al. Judgment entered for $1372 on note. Wahoo Mutual Loan and Buildng Association vs. Vida C. Nitx et al. Decree of foreclosure entered for $1462.30. Stay of nine months granted. Home Finance & Investment Co. vs. John Jacobs. Judgment entered for $1598. License to sell real estate was granted to E. S. Schiefel bein, administrator of the Katie Kraft estate. There are two residence properties. The claims against the estate total $2003.43 besides liens against properties. Hrdlicka vs. C. B. Trutna et al. Decree entered on SE 1-4 NE 1-4 section 7, 14, 7 fo $4,343.00. First Natonal Bank vs John F. Gross et al. Decree entered for $2650 on lots 7 and 8. Court allows 20 days before sheriff's sale. Emma Peacock et al vs Elizabeth Garver et al. Partition ordered for service by publica tion on NW 1-4 section 8, 15. 9. State vs F. & M. Bank. G. W. Walter intervenor. Liability assessment authorized compromised. New Suits in District Court. The anoo Mutual Loan & Building Association have filed a petition of foreclosure against W. J. Spath et al on $5,000 mortgage on lots 11 and 12 in block 3, Valparaiso. alance due on said note is $3930 and costs. Hendricks & Kokjer, attornys. Emma Peacock et al have filed suit against Elizabeth Garver to quiet title and partition the NW 1-4 section 8, 15, 9. Hendricks & Kokjer, attorneys.