Security State Bank (McGrew, NE)

Episode Information

Episode UID
76091971492
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7609197 routing
Routing Number
76-0919
Start Date
April 2, 1924
Location
McGrew, Nebraska (41.747, -103.418)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c71ee5b982413372

Response Measures

None

Events (2)
1. April 2, 1924 Receivership
Newspaper Excerpt
Having now decided that the liquidation immediately possible had been accomplished, it has been decided best to turn the bank over to the Department who will proceed to pay the depositors and wind up the bank's affairs.
Source
newspapers
2. April 2, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bad loans made under former management left liquidation complete; bank turned over to state Banking Department for winding up.
Newspaper Excerpt
The Security State Bank of McGrew was turned over to the Banking Department yesterday.
Source
newspapers

Newspaper Articles (2)
1. April 3, 1924 The Morrill Mail Morrill, NE
Article from The Morrill Mail, April 3, 1924

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Article Text

McGrew Bank Suspended The Security State Bank of McGrew was turned over to the Banking Department yesterday. Three years ago when the situation of the bank became critical due to bad loans made under former management, all of the bankers of the Valley came to the rescue of the proposition and by dictating it's management and furnishing funds, have kept the bank open during this period of time. Having now decided that the liquidation immediately possible had been accomplished, it has been decided best to turn the bank over to the Department who will proceed to pay the depositors and wind up the bank's affairs. The bankers of the Valley deserve great credit for having supported the McGrew situation as they have. The condition at McGrew has no bearing upon the present business situation in the valley.

2. April 11, 1924 The Sidney Telegraph Sidney, NE
Article from The Sidney Telegraph, April 11, 1924

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Article Text

The Security State bank of McGrew was turned over to the banking department last Wednesday. Trapper Charles Freel has received instructions from the U. S. Biological Survey to attempt the capture of a den of wolf pups, taking them alive and keeping them until next fall when they will be sent to Washington. Mr. Freel will keep on the lookout for the wolves. If he succeeds in getting them he will probably try to place them in one of the zoos of the state until they have attained the age of several months. "Big Foot" is about the only wolf in this vicinity just now. In the Pumpkin Buttes country, however, a small pack is running again, having come in from the outside. George Ostrum has noticed their trail several times. Two years ago the wolves of the Pumpkin Butte country were all killed by the late trapper Hanson when he caught the famous white female wolf that had preyed on the flocks and herds for 15 years.—Gillette, Wyo., News. J. H. Wilson of Mitchell received a patent last week on his recent invention of a cantilever windmill which does away with the gears of the old type mills. Roy Moore of Mitchell is financing Mr. Wilson for the manufacture of the new invention. The village of Lodge Pole is very desirous of obtaining a blacksmith for their town and the commercial club is putting forth every effort to obtain one.