State Bank (Crawford, NE)

Episode Information

Episode UID
76020871582
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
7602087 routing
Routing Number
76-0208
Start Date
October 21, 1931
Location
Crawford, Nebraska (42.683, -103.413)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
83d3e6f408a26f83

Response Measures

None

Events (3)
1. October 21, 1931 Run
Cause
Local Banks
Cause Details
Considerable/heavy withdrawals driven by unfavorable financial conditions in adjacent territories and general financial unrest.
Measures
Led directors to suspend business; later reorganization and waiver agreements arranged.
Newspaper Excerpt
There have been considerable withdrawals in the last few weeks, which, coupled with the unfavorable financial situation in adjacent territories, made the directors feel that this action was best for all concerned.
Source
newspapers
2. October 21, 1931 Suspension
Cause
Local Banks
Cause Details
Suspension caused by heavy withdrawals and adverse financial conditions in neighboring territories.
Newspaper Excerpt
The Crawford State bank suspended business and did not open Wednesday morning, pending reorganization.
Source
newspapers
3. January 20, 1932 Reopening
Newspaper Excerpt
The reorganized Crawford State bank, made solvent by stockholders, reopened for business Wednesday. The bank suspended on October 21, 1931. The bank reopened with deposits of $160,957.
Source
newspapers

Newspaper Articles (14)
1. October 22, 1931 Northwest Nebraska News Crawford, NE

Article Text

CLOSES REORGANIZATION Await Arrival of Representative From Trade and Commerce Department Before Plans Announced. The Crawford State bank suspended business and did not open Wednesday morning, pending reorganization. No definite announcement as to the future is ready, but the following statement has been issued: A representative of the state department of trade and commerce expected to arrive Thursday, after which it is hoped to work out something definite as to plan of operation. There have been considerable withdrawals in the last few weeks, which, coupled with the unfavorable financial situation in adjacent territories, made the directors feel that this action was best for all concerned. The bank has capital stock, surplus and undivided profits of and deposits of approximately $200,000. The officers are: R. Ivins, president; F. McGivern (Omaha), vice president; Johnson, assistant

2. October 22, 1931 Northwest Nebraska News Crawford, NE

Article Text

The Banking Situation Following the closing the Crawford State bank Wednesday morning of this week, it stated on good authority that it is more than probable that every depositor will be paid one hundred cents on the dollar of his deposits when the assets of the bank are finally liquidated, as the loans by the bank are amply by adequate collateral. It will merely take time to liquidate the assets of the bank that depositors secure their money. The town of Crawford fortunate in having good strong financial institution left. In the Commercial State bank, Crawford has one the strongest banking institutions in this part of the state, with officers who have the confidence of the public, deposits of more than $600,000, and capital stock, surplus and undivided profits large enough to inspire confidence in community several times as large as Crawford. It should have the undivided support of the business interests of the town, as well as the community at large. The Commercial State bank was organized in 1886 and has given service to the town of Crawford and the community surrounding it for nearly half century. has remained in the same family all of that time. No town can prosper without strong banking institution and as we before, Crawford is to be congratulated on having such an Institution, headed by home people who have the welfare of the town and community at heart.

3. October 22, 1931 The Harrison Sun Harrison, NE

Article Text

CRAWFORD BANK CLOSES Word reached here vesterday that Crawford State Bank suspended business that morning. has been turned over the Department Trade definite formation was stated reorganization stitution might effected following examination by the coupled with drawals by conditions throughout the adverse country caused the suspension. RECEPTION FOR NEW MINISTER ranch ladies the ComThe church are holding munity October 30th. tion on Friday Rev. Lenker and honor family the church. family and meet Bring vourself Mr. Mrs. Lenker and family enjoy an evening of visiting. Harold Reed. Eunice Sherrill. Jim Archie Inez Buckingham Fox, Lola Iversen called Chet and Lusk Wyoming hospital Sunday. Chet. who severely jured an auto accident several reported getting along considering the nature injuries. Mr. and Mrs. Allen Lushbough for Nebr., where Monday by auto her parents. From there will to Grand Island from local Odd Fellows lodge to the Odd Fellow session there the Rebekah assembly Tuesday of this week Evan Worley celebrated his birthdav and Mrs. arranged surprise party inviting his classmates him observe the occasion. enjoyed number delicious lunch

4. January 20, 1932 Lincoln Journal Star Lincoln, NE

Article Text

STATE REOPENS ITS DOORS Depositors to Be Paid in Failed Banks Pay Dividends. The reorganization of the Crawford State bank, for busiand the payment total of dividends depositors five failed state banks were by Governor Bryan. The Crawford State bank business Oct. 21. The new R. Ivins, president, Duncan, vice president cashier. The capital stock $30,000, surplus $10,000 undivided profits about $3,000. The bank reopened with deposits $160,957. The depositors co-operated in the reorganization by signing agreeing to cept of their but all depositors are to be paid in full and without any depositors of the Farmers State bank of Loomis, upon order of the district court, dated Dec. totals $7,163.37, 10 percent. During receivership percent $32,235, had previously paid. The Battle Creek Valley bank at Battle Creek will now cent dividend viously 15 percent or $42,900.61 been paid. The Bruno State bank will pay 10 percent, or $12,188.73. The State will pay percent $22,685.97. had viously paid 15 percent or $68,The Farmers Merchants Sterling pay 10 percent It paid 46 percent or $32,591.93.

5. January 20, 1932 The Lincoln Star Lincoln, NE

Article Text

CRAWFORD BANK IS REORGANIZED Depositors To Be Paid; Payments Made Five Institutions. The reorganized Crawford State bank, made solvent by stockholders, reopened for business Wednesday. The bank suspended on October 21, 1931. The new officers are: O. R. Ivins, president; S. P. Duncan, vice president and cashier. The capital stock is $30,000; surplus, $10,000; and undivided profits, about $3,000. The bank reopened with deposits of $160,957.

6. January 20, 1932 The Lincoln Star Lincoln, NE

Article Text

The reorganized Crawford State bank, made solvent by stockholders, reopened for business Wednesday. The bank suspended on October 21, 1931. The new officers are: O. R. Ivins, president; S. P. Duncan, vice president and cashier. The capital stock is $30,000; surplus, $10,000; and undivided profits, about $3,000. The bank reopened with deposits of $160,957 The depositors have co-operated in the reorganization by signing waiver contracts agreeing to accept payments of their deposits in monthly installments but all depositors are to be paid in full and without any write-down. Official approval of the reorganization has been given by the state commerce department. Five Banks Pay Dividends. Payment of special dividends realized from assets of five failed banks to the depositors of those institutions is announced by the state bank receivership division, as follows: Battle Creek—Battle Creek Valley bank, 5 per cent, $14,300; previous payment, 15 per cent, $42,901; total, 20 per cent, $57,201. Bruno—Bruno State bank, 10 per cent, $12,189.

7. January 20, 1932 Lincoln Journal Star Lincoln, NE

Article Text

CRAWFORD STATE BANK REOPENS ITS DOORS Depositors to Be Paid in Full—Five Failed Banks Pay Dividends. The reorganization of the Crawford State bank, opened for business Wednesday, and the payment of a total of $63,398.93 dividends to depositors of five failed state banks were announced by Governor Bryan. The Crawford State bank suspended business Oct. 21. The new officers are O. R. Ivins, president, S. P. Duncan, vice president and cashier. The capital stock is $30,000, surplus $10,000 and undivided profits about $3,000. The bank reopened with deposits of $160,957. The depositors have co-operated in the reorganization by signing waiver contracts agreeing to accept payments of their deposits in monthly installments but all depositors are to be paid in full and without any write-down. Dividends to depositors of the Farmers State bank of Loomis, upon order of the district court, dated Dec. 2, totals $7,163.37, or 10 percent. During receivership 45 percent or $32,235, had previously been paid. The Battle Creek Valley bank at Battle Creek will now pay a 5 percent dividend or $14,300.32. Previously 15 percent or $42,900.61 had been paid. The Bruno State bank will pay 10 percent, or $12,188.73. The Chadron State will pay 5 percent or $22,685.97. It had previously paid 15 percent or $68,057.89. The Farmers & Merchants of Sterling will pay 10 percent or $7,060.54. It had previously paid 46 percent or $32,591.93.

8. January 21, 1932 Northwest Nebraska News Crawford, NE

Article Text

STATE BANK OF CRAWFORD IS AGAIN RUNNING Local Institution Doing Business After New Money, Sound Policy Bespeak Success. The Crawford State bank, which suspended business the middle of last October due to heavy withdrawals of cash and general financial unrest, opened its doors Wednesday morning and doing business. re-organization, which involved the addition five directors, together with the sound policy of limited withdrawals required by the state, insure the institution's success practically beyond doubt. The list of officers and employes headed by Dr. Ivins, who has been president of the bank for some years; Duncan, vice president and cashier: Eldon Spray, assistant cashier, Ruth Arner, bookkeeper. Directors are Morison, R. Dempster, George James, Dr. R. Ivins, Dr. Ivins, Duncan and Porter. Of these Messrs. Morison, Dempster, James and Duncan and Dr. Ivins are new members of the directorate. The insistent demand of the people that the bank reopen, which creased in volume all during the past. week, was reflected in the large deposits coming in immediately after the bank opened Wednesday. Only about $5,000 of the old deposits are not represented on the waiver agreements which have been signed. New Deposits May Be Drawn All new deposits coming in are not affected by any waiver agreement. They may be withdrawn and redeposited just as funds in the bank before closed. Thus to advantage to do all the everyone's business they can at the bank, as the more new deposits that come in more business the bank does, the quicker will the old deposits be released. schedule of service charges identical with that in effect at Chadron and other banks of the section is being worked out. The important thing in the whole situation, and the thing that putsmile the faces of local ting on busness men, that the bank will be able to do business in every way just as before it closed, except for the old deposits. By taking advantage of this going bank, by doing all the business we can with lift the ban on the old decan soon posits. The gradual withdrawal plan provided makes the bank's future absolutely secure. This scheme was put in effect because was desired to leave nothing to chance possible continuance of the adverse conditions of the past year or If times return soon to normal, which all business leaders predict will, the old assets may be they liquidated satisfactorily and the withdrawal waiver lifted. If, on the other hand, the depression lasts longer than expected, the gradual cannot. undermine the bank's financial structure and cause second closing, which has been the case with other institutions. Duncan, vice president and cashier, has spent much time in Lincoln and Omaha the past few months, taking care of the legal and other matters involved. Another important factor in speeding up the opening was the confidence placed in Gund by the state department of banking. Mr. Gund, assistant receiver for the Commercial State bank, has checked in the assets and managed other details, that special man did not need to be sent out from Lincoln, which the usual procedure.

9. January 22, 1932 Chadron Record Chadron, NE

Article Text

Crawford Reopened On Wednesday News of the re-organization of the Crawford State Bank of Crawford, which opened its doors Wednesday of this week, will be most welcome to the people of Dawes county. The Crawford State Bank suspended business October 21 and every possible effort toward reorganization has been made since that date. The new officers are: Ivins, President; Duncan, Vice President and Cashier. The capistock is $30,000.00, surplus and undivided profits about $3,000. The bank reopened with deposits $160,957. Depositors have cooperated In reorganization of the bank by signing waiver contracts agreeing to payments of their deposits positors are to be paid in full and without any writedown.

10. January 22, 1932 Star-Herald Scottsbluff, NE

Article Text

Crawford State Bank Reopens for Business The reorganized Crawford State bank, made solvent by stockholders, reopened for business Wednesday The bank suspended October 21, 1931. The new officers are: O. R. Ivins, president; S. P. Duncan, vice president and cashier. The capital stock is $30,000; surplus, $10,000: and undivided profits. about $3,000. The bank reopened with deposits of $160,957. The depositors have cooperated in the reorganization by signing waiver contracts agreeing to accept payments of their deposits in monthly installments but all depositors are to be paid in full and without any write-down. Official approval of the reorganization has been given by the state commerce department.

11. January 27, 1932 Star-Herald Scottsbluff, NE

Article Text

Crawford State Bank $4.95 Reopens for Business The Crawford State bank. which suspended business last October be- Beautiful missy dresses bought from the Raccoons, Pony, Northern Seal. Muskrat, Caracul, etc. cause of heavy withdrawal of cash Hollywood market. Exact replicas of exand financial unrest. opened its doors pensive film-land styles. last week and is doing business. A reorganization. which involved the addition of five new directors. together with the policy of limited 15 Transparent Velvet Dresses originally $39.50 withdrawals required by the state. insure the institution's success, it is 3 Black Velvet Evening Wraps originally $39.50 believed. The capital stock is $30,000. Tremendous surplus $10,000 and undivided profits about $3,000. The deposits totaled 1 Beautiful Blue Chiffon Dress originally $29.50 $160,957.

12. January 28, 1932 Chadron Chronicle Chadron, NE

Article Text

Bank Opens Wednesday Ivins President The Crawford State bank, which suspended business the middle of last October due to heavy of cash and general financial unrest, opened its doors Wednesday morning and business. re-organization, which involved the addition of five new directors, together with the sound policy of limited withdrawals required by the state, insure the institution's success practically beyond doubt. The list of officers and employees headed by Dr. Ivins, who has been president of the bank for some years; Duncan, vice president and cashier; Eldon Spray, assistant cashier, Ruth Arner, bookkeeper. Directors are Morison, Dempster, George James, and Porter. Of these Messrs. Morison, Dempster, James and can and Dr. Ivins are new of the directorate. The insistent demand of the people that the bank reopen, which increasin volume all during the past week reflected the large deposits coming in after the bank opened Wednesday. Only about of the old posits not represented the waiver agreements which signed. New Deposits May Be Drawn All new deposits coming in are not affected by any waiver agreement. They be withdrawn and redemay posited just as funds in the bank fore it closed. Thus to one's advantage to do the business they can at the bank, as the more new deposits that come more business the bank does, the quicker will the old deposits be leased. A schedule of service charges identwith that effect Chadron and other banks of the section is worked Nebraska News.

13. January 28, 1932 The Western Nebraska Observer Kimball, NE

Article Text

CRAWFORD STATE BANK REOPENS FOR BUSINESS The reorganized Crawford State bank, made solvent by stockholders, reopened for business Wednesday. The bank suspended October 21, 1931. The new officers are: O. R. Ivins, president: S. Duncan, vice president and cashier. The capital stock is $30,000; surplus, $10,000, and undivided profits, about $3,000. The bank reopened with deposits of $160,- The depositors have cooperated the reorganization by signing waiver contracts agreeing to accept payments of their deposits in monthly installments but all depositors are to be paid in full and without any writedown. Official approval of the reorganization has been given by the state commerce department.

14. February 5, 1932 The Potter Review Potter, NE

Article Text

The Crawford State bank, which suspended business in October, has been reorganized and was opened recently for business. All depositors are to be paid in full, but have signed agreements to check out not more than certain percentages of their credits during any one month.