Firth Bank (Firth, NE)

Episode Information

Episode UID
76072571590
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7607257 routing
Routing Number
76-0725
Start Date
June 1, 1932
Location
Firth, Nebraska (40.533, -96.606)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
692ebe11ae17e2c7

Response Measures

None

Description

Initial June 1 closing described as voluntary/pending reorganization; by June 24 a receivership petition alleges insolvency.

Events (2)
1. June 1, 1932 Suspension
Cause
Government Action
Cause Details
Voluntary closing taken over by state department of trade and commerce pending reorganization; state examiner placed in charge.
Newspaper Excerpt
The department also announced the voluntary closing of the Firth Bank of Firth, pending reorganization. State Examiner Richard Hadley is in charge.
Source
newspapers
2. June 24, 1932 Receivership
Newspaper Excerpt
Appointment of a receiver for the Firth bank is asked in a petition filed ... He alleges the bank is insolvent and was taken over by the department of trade and commerce June 1. The court is asked to appoint E. H. Luikart receiver ...
Source
newspapers

Newspaper Articles (5)
1. June 1, 1932 The Grand Island Independent Grand Island, NE

Article Text

FAILED STATE BANK REOPENS Lincoln, June 1. (AP)—Reopening today of the reorganized Tyron State Bank of Tyron, McPherson county, was announced by the state department of trade and commerce. The bank suspended business January 8, last. Stockholders of the institution, the department said, re-capitalized it for $10,000, with a surplus of $2,500. Depositors eventually will be paid in full, the department said. L. A. Warden is president, and A. C. Hill, jr., cashier. The department also announced the voluntary closing of the Firth Bank of Firth, pending reorganization. State Examiner Richard Hadley is in charge. It had deposits of about $140,000. J. C. Ruigh was president; William Kramer, vice-president, and John Doeschot, cashier. The department announced also that dividend payments to failed bank depositors during the month of May amounted to $320,563. The largest payment during the month was to depositors of the Merchants State Bank of Winside, which received an initial 45 percent dividend of $98,679.71. In all, depositors of 20 failed banks shared in the revenue made possible by the liquidation of assets.

2. June 2, 1932 Lincoln Journal Star Lincoln, NE

Article Text

BANK AT TRYON REOPENS Half Million Paid to Depositors of Failed Banks. One bank reorganized, one failed and payment of $517,553.62 in dividends to depositors of failed banks in the month of April were reported by Secretary Luikart of the department of trade and commerce. Tryon State bank reorganized, recapitalized and made solvent by stockholders, reopened for business Wednesday. The bank suspended Jan. 8. Capital stock is $10,000. Surplus $2,500. Officers of the new bank are: L. A. Warden, president, and A. C. Hill, jr., cashier. The plan of reorganization contemplates ultimate payment of depositors in full. Upon request of the officers, the department of trade and commerce has taken charge of the Firth bank, pending reorganization. Examiner Richard Hadley has taken charge. The deposits are about $140,000. Officers are: J. C. Ruigh, president; William Kramer, vice president and John Doeschot, cashier. Payment of $517,553.62 paid in April from assets of failed banks went to depositors of twenty-one banks. The largest payment was 45 percent or $99,679 to depositors of the Merchants State bank of Winside, being a first payment. Depositors of the Brainard State bank received 40 percent or $97,238, also a first payment.

3. June 2, 1932 The Omaha Morning Bee-News Omaha, NE

Article Text

REOPEN TRYON STATE BANK LINCOLN. June Reopen ing Wednesday of the reorganized Tryon State bank of Tryon. MePherson announced by the state of trade and The bank sus pended the department said, recapitalized for surplus of $00. Depositors eventually will be paid in full, the department said L. Warden is president and The department also announced the closing of the Firth bank pending reorganiza tion State Richard Had ley charge It had deposits of about Ruigh was president: William Kramer vice president. and John Doeschot department announced dividend payments to depositors 20 failed banks during the month of May totaled The largest was to depositors of the Merchants State bank Winside, which received an initial 45 per cent dividend of

4. June 2, 1932 Omaha World-Herald Omaha, NE

Article Text

Tryon State Bank Reopens Wednesday Lincoln, Neb., June 1 (AP).—Reopening today of the reorganized Tryon State bank of Tryon, McPherson county, was announced by the state department of trade and commerce. The bank suspended January 8, last. Depositors eventually will be paid in full, the department said. L. A. Warden is president, and A. C. Hill, jr., cashier. The department also announced the voluntary closing of the Firth bank of Firth, pending reorganization. It had deposits of about 140 thousand dollars.

5. June 24, 1932 The Lincoln Star Lincoln, NE

Article Text

Cowles Appointment Approved by Senate Banking Committee WASHINGTON, June 24—(AP)—A favorable report on the nomination of Gardner Cowles, sr., of Des Moines, publisher, for appointment as a director of the reconstruction corporation was voted today by the senate banking committee. Chairman Norbeck, republican, South Dakota, said the committee voted unanimously on the nomination and that he would present it to the senate this afternoon. Senator Brookhart, republican, Iowa, was among those at the committee meeting. Cowles was appointed yesterday by President Hoover to fill the vacancy on the board of directors left by the resignation of Charles G. Dawes. Prompt confirmation was expected. ASKS BANK RECEIVER. Appointment of a receiver for the Firth bank is asked in a petition filed in district court Saturday on behalf of Attorney General C. A. Sorensen. He alleges the bank is insolvent and was taken over by the department of trade and commerce June 1. The court is asked to appoint E. H. Luikart receiver in his capacity as secretary of the department of trade and commerce.