Security State Bank (Lynch, NE)

Episode Information

Episode UID
76039671499
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7603967 routing
Routing Number
76-0396
Start Date
November 1, 1924*
Location
Lynch, Nebraska (42.830, -98.466)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
88d614bc5a8dcabb

Response Measures

None

Description

Bank was turned over to the state guaranty fund in Nov 1924; a new charter (Farmers' State Bank) was issued in 1926 while receivership/legal actions relating to the old bank continued.

Events (4)
1. November 1, 1924* Suspension
Cause
Government Action
Cause Details
Bank was turned over to the state guaranty fund commission (Nov 1924).
Newspaper Excerpt
the deposits, when the bank turned over No. 1924, to the guaranty fund amounted $375,000.
Source
newspapers
2. March 6, 1926 Other
Newspaper Excerpt
Security State become Farmers' State bank ... has issued a charter the new which will be known the Farmers' State bank Lynch.
Source
newspapers
3. December 18, 1928 Other
Newspaper Excerpt
judgment and decree ... on the 18th day of December, A. D. 1928 ... John M. Flannigan, as receiver of the Security State Bank of Lynch, Nebraska, ... were defendants
Source
newspapers
4. October 22, 1929 Other
Newspaper Excerpt
NOTICE OF SALE BY VIRTUE OF AN ORDER OF SALE ... I will offer the said lands and premises for sale ... on the 22nd day of October, A. D. 1929
Source
newspapers

Newspaper Articles (2)
1. March 6, 1926 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, March 6, 1926

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Article Text

NEW BANK CHARTERED FECTED AT LYNCH. Security State Become FarmState, Estimated Loss $175,000 to Guar- anty Fund. Security State bank Lynch has been operated the gualanty fund commission November 1924, ganized with new owners and capital. Secretary Griggs of the department trade and has issued-a charter the new which will be known the Farmers' State bank Lynch. contract of the assets and asumption liability deposits amounting $350,000 been agreed upon and submitted the district court approval. The deposits, when the bank turned over No. 1924, to the guaranty fund amounted $375,000. The loss the guaranty fund estimated at $175,000. The capital stock of the old bank was $20,000. The capital stock of the ized banks $25,000. The officers the old bank were Holbert, president: Wasatko, assistant cashier; Dan Melsha, cashier. The officers of the new bank are president; vice president; Dan cashier. These officers are sole stockholders and constitute the board of directors.

2. September 19, 1929 The Lynch Herald Lynch, NE
Article from The Lynch Herald, September 19, 1929

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Article Text

NOTICE OF SALE BY VIRTUE OF AN ORDER OF SALE, Directed to me from the District Court of Boyd County, Nebraska, on judgment and decree obtained before the Honorable Robert R. Dickson, Judge of the District Court of Boyd County, Nebraska, on the 18th day of December, A. D. 1928, in an action pending wherein Peters Trust Company, a corporation, Guardian, was plaintiff and Harold M. Holbert, Ruth I. Holbert, Peters Trust Company, a corporation, John M. Flannigan, as receiver of the Security State Bank of Lynch, Nebraska, The Guarantee Fund Commission of the State of Nebraska, and John Doe, real and true name unknown, were defendants. The plaintiff obtained judgment and decree for the sum of $1909. wiith interest at 10 per cent per annum from the 8th day of December, A. D. 1928, and is first lien on the lands and premisses hereinafter described. To satisfy said judgment and decree and costs I have levied on the following described lands and premises, taken as the property of the defendants, to-wiit: The South Half of the Southwest Quarter (S%SW%) of Section Twenty-four (24), also the North Half of the Northwest Quarter (N½ NW%) of Section Twentyfive (25), all in Township Thirtyfour (34) North, Range Ten (10) West of the Sixth Principol Meridian, in Boyd County,Nebraska. I will offer the said lands and premises for sale to the highest bidder for cash on the 22nd day of October, A. D. 1929, at the hour of one o'clock, P. M., in front of the front door of the Court House, in Butte, Nebraska, (that being the building wherein the last term of District Court of Boyd County, Nebraska, was held) when and where due attendance will be given by the undersigned. Dated this 19th daay of September, A. D. 1929. WILEY S. BARNES, Sheriff of Boyd County, Nebraska. W. T. WILLS. Attorney. First pub. Sept. 19-last 17