Fordyce State Bank (Fordyce, NE)

Episode Information

Episode UID
76072671582
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
7607267 routing
Routing Number
76-0726
Start Date
October 1, 1931
Location
Fordyce, Nebraska (42.699, -97.362)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8b09c048fa538778

Response Measures

None

Events (3)
1. October 1, 1931 Receivership
Newspaper Excerpt
pending the arrival the receiver. Officers the failed bank ... The affairs of both the Cedar County State and the Fordyce bank are said to have been in good order... turned over to the state banking examiner. Assistant Receiver Barbour was placed in charge.
Source
newspapers
2. October 1, 1931 Run
Cause
Local Banks
Cause Details
Run followed collapse/failure of nearby Cedar County State Bank and steady withdrawals; panic spread locally.
Measures
Directors closed the bank to protect depositors; bank failed to open for business.
Newspaper Excerpt
there had been quite heavy run for several days and that the board deemed close in order to protect the depositors.
Source
newspapers
3. October 1, 1931 Suspension
Cause
Local Banks
Cause Details
Directors decided to close and suspend operations after heavy withdrawals and regional bank failures undermined confidence.
Newspaper Excerpt
The Fordyce State Bank closdoors Monday night by order of the board of directors... The bank has been turned over to the state of trade and for examiner in charge checking the books pending the arrival the receiver.
Source
newspapers

Newspaper Articles (4)
1. October 1, 1931 The Hartington Herald Hartington, NE

Article Text

RECEIVER'S Closed Order of Board of Directors in Order To Protect Depositors Following the collapse of Cedar County State Bank last week, the Fordyce State Bank closdoors Monday night by order of the board of directors. In telephone conversation with The Herald Tuesday morning, director of the bank stated that there had been quite heavy run for several days and that the board deemed close in order to protect the depositors. The bank has been turned over to the state of trade and for examiner in charge checking the books pending the arrival the receiver. Officers the failed bank Leise, president; Frank mers, vice-president, and cashier. The directors Leise and Frank Lamand the following are the stockholders: Lammers, Lammers, Leise, Thoene, John Tigges, Frank KeiAug. Mary Rolfes, Hilda Filips and John Jansen, The last report of the Fordyce bank department of trade June that that date amounting loans and discounts aggre. gated that its furniture and fixtures valued and that the capital stock and surplus fund totaled General economic depression, slow collections and of confidence to other bank failures of the collapse of the For State officials, who express hope that depositors cover large percentage of their money in the of liquidaprocess

2. October 1, 1931 The Wynot Tribune Wynot, NE

Article Text

MORE BANK GRIEF CEDAR COUNTY Cedar County State and the Fordyce State Forced to Close Doors. Additional grief in bank circles has been experienced in Cedar county during the past week, with the consequent closing of the Cedar County State at Hartington and the Fordyce State at Fordyce. The Cedar County State failed to open for business last Friday morning. Following meeting of the directors Thursday night, it was decided to be the best policy to close the bank and 20 into liquidation. Friday morning was posted on the door telling of the decision of the directors. The state department of banking was notified and after an auditor had checked over the accounts of the bank, Assistant Receiver Barbour was placed in charge. The Cedar County State bank was organized in 1915 being capitalized at $35,000. The last statement the 30th of June showed deposits of $219, Lammers was the president and C. N. Hertert cashier. Continued and almost steady withdrawals of funds from the bank was the immediate cause of the closing. This bank was at one time considered one of the strongest financial institutions of this territory with an abundance of backing. but the deflation period made serious changes in these things. The Fordyce State bank, after meeting of the directors Monday evening, decided that the best policy for all concerned was to close the institution and this course was followed. the bank failing to open for business on Tuesday morning. This bank was capitalized at $25,000. John A. Thoene "was president and A. Leise cashier. This bank, in its best days had deposits aggregating nearly half million dollars. These had dropped to around when the last statement was published and we understand that steady withdrawals had been made since then, this being the principal item determining the directors to close the bank. General conditions and the practical failure of this year's crop in this vicinity helped to make the banking business precarious and unhealthy and are part of the cause of these and other bank closings. The affairs of, both the Cedar County State and the Fordyce bank are said to have been in good order. fault attaching to any officer in charge of the banks. They sinmply the victims of the unhealthy conditions with the general tendency of unrest and suspicion that difficult for even the have made strongest of banks to do business.

3. October 12, 1931 The Daily Worker New York, Chicago, NY
Article from The Daily Worker, October 12, 1931

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Article Text

BANKS CONTINUE TO CLOSE DOWN OMAHA, Neb. (By Mail).-The Ravenna State Bank and the Fordyce State Bank of this state suspended business October 1 according to the state banking examiner. The Ravenna State Bank deposits totalled $190,000 and the Fordyce Bank deposits were placed at $300,000. The Cedar County State Bank at Hartington was closed with deposits of $195,000. The People's State Bank at Grand Island turned over its affairs to the state commerce department because of its condition. Deposits decreased in six years from $600,000 to $230,000. A worker correspondent of the Daily Worker writes: "People in that part of the state are panic-stricken and I have a letter to that effect (from a republican) right here before me. Hartington, Neb. has only one bank now where it had three regular banks and a savings bank in October, 1928. Confidence in banks is certainly sinking fast all over the state."

4. July 28, 1932 Cedar County News Hartington, NE

Article Text

STOCKHOLDERS FORDYCE SEEKS TO COMPEL THEM TO DOUBLE LIABILITY second suit in which E. H. Luikart, state bank receiver, attempting to compel payment defunct bank stockholders' constitutional double liability, was filed in district court last week, involving the Fordyce State bank. similar suit filed two weeks ago the case of the Wynot State Stockholders of the Fordyce bank who are charged not having paid their liability Frank Lammers, Leise, Lammers, H. Lammers, Anna Gohman, John Jansen, Frank Keiter, Hilda Lammers Fillips and Charles Tigges as executor of the John Tigges estate. Mary Rolfes and Thoene settled their constitutional liability Frank Lammers, Tigges, deceased, LamLeise and John Janhave applied their dividpart payment. total sum of from the stockholders.