Farmers State Bank (Inland, NE)

Episode Information

Episode UID
76076371580
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7607637 routing
Routing Number
76-0763
Start Date
August 26, 1931
Location
Inland, Nebraska (40.597, -98.223)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
94e8e93c2814751b

Response Measures

None

Description

Bank voluntarily closed and subsequently placed in receivership by court order.

Events (3)
1. August 26, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Officers voluntarily decided to close due to insufficient deposit volume (about $70,000) and unprofitability.
Newspaper Excerpt
C. H. Worley, cashier of the Farmer's State Bank of Inland announced that the officers of that institution voluntarily decided to close their doors, Wednesday morning.
Source
newspapers
2. January 23, 1932 Receivership
Newspaper Excerpt
order of sale duly made and entered ... on the 23rd day of January, 1932 ... E. H. LUIKART, Receiver of Farmers State Bank, Inland, Nebraska and notice of sale of remaining assets for Feb 12, 1932.
Source
newspapers
3. February 12, 1932 Other
Newspaper Excerpt
the undersigned receiver will sell ... on the 12th day of February, 1932, at 2 o'clock P. M., the following described property, being the entire remaining assets of said bank ...
Source
newspapers

Newspaper Articles (3)
1. August 27, 1931 The Harvard Courier Harvard, NE

Article Text

CLOSES BANK INLAND-C. H. Worley, cashier of the Farmer's State Bank of Inland announced that the officers of that institution voluntarily decided to close their doors, Wednesday morning. The bank has a total of $70,000 in deposits which was not volume enough to continue business profitably. The state banking department had nothing to do with the closing of the bank according to Mr. Worley, who went on to say in the conversation we had with him that he was confident that the depositors would be paid in full with the liquidation of the bank's affairs. Mr. Worley wasn't sure whether a state bank receiver would handle the liquidation or whether the bank's officers would handle the business of settling up.

2. January 28, 1932 The Clay County Sun Clay Center, NE

Article Text

NOTICE OF THE SALE OF REMAINING ASSETS OF FARMERS STATE BANK, INLAND, NEBRASKA. The State of Nebraska, ex rel., C. A. Sorenson, Attorney General, Plaintiff, vs Farmers State Bank, Inland, Nebraska, Defendant.

3. January 28, 1932 The Clay County Sun Clay Center, NE

Article Text

The State of Nebraska, ex rel., C. A. Sorenson, Attorney General, Plaintiff, vs Farmers State Bank, Inland, Nebraska, Defendant. Notice is hereby given by virtue of an order of sale duly made and entered in the above entitled cause by the Honorable J. W. James, Judge of the District Court of the Tenth Judicial District of Nebraska, held within and for Clay County, Nebraska, on the 23rd day of January, 1932, that the undersigned receiver will sell at the building formerly occupied by said bank in Inland, Clay County, Nebraska on the 12th day of February, 1932, at 2 o'clock P. M., the following described property, being the entire remaining assets of said bank, save and except the double liability of stockholders and directors' liability, after assets have been exhausted, to-wit: BILLS RECEIVABLE, being notes against various persons for different amounts, approximate total $61,045.84. ASSETS, not shown on Books of Bank being notes of various persons for different amounts, approximate total $3,719.24. OTHER ASSETS, consisting of Bankers Conservation Fund balance of $221.25. OVERDRAFTS, consisting of overdrafts against various persons for different amounts, approximate total $74.55. BONDS, STOCK & WARRANTS, held by County Clerk, Clay County, to secure County Treasurer deposit of $5,745.37, consisting of 3M Fremont Joint Stock Land Bank bonds $3,000.00; 2M Lincoln Joint Stock Land Bank bonds $1,754.95; School District No. 72 warrants No. 32 $96.00, total $5,910.95. FURNITURE & FIXTURES, consisting of bank supplies, equipment and machinery, such as desks, bank counters, safe, Burroughs Adding machine, Remington Typewriter, letter files, two nests of safety deposit boxes, check holders, check sorter, chairs and other like articles of equipment too numerous to mention. REAL ESTATE: Lots 5 and 7, Block 8, Inland. Clear. 1930 tax paid. Receiver has abstract extended to 12-26-19. To be sold "as is". NE 1/4 10-7-8 Clay County. Subject to mortgage of $9,500.00. 1930 tax paid. Abstract with mortgagee. To be sold "as is." Lots 10, 11, 17, Block 2, Hillcrest sub-division of part of Park Place in Hewitt's Addition to City of Hastings, Nebraska. Clear, except delinquent taxes of about $45. Receiver has abstract extended to 11-30-15. To be sold "as is." The above assets will be offered both separately and also as a whole. Full lists of notes, overdrafts, and other assets will be found in the office of the Clerk of the District Court of said county, and all notes are subject to inspection at the office of the Receivership Division of the Department of Trade and Commerce of Nebraska, in the State House at Lincoln, Nebraska. All property herein advertised for sale is subject to liquidation prior to date of sale. Said sale shall be for cash as by law provided. Application to confirm said sale will be made to the court one week after date of sale. Dated this 26th day of January, 1932. (31-33) E. H. LUIKART, Receiver of Farmers State Bank, Inland, Nebraska