Farmers Bank (Crawford, NE)

Episode Information

Episode UID
76119771497
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7611977 routing
Routing Number
76-1197
Start Date
September 26, 1924
Location
Crawford, Nebraska (42.683, -103.413)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3a4d782f6f1cf63d

Response Measures

None

Description

Bank was previously closed in 1922 and reopened before this permanent state closure.

Events (2)
1. September 26, 1924 Receivership
Newspaper Excerpt
The bank has been placed in charge of Ray Tierney, state bank examiner, and Fay C. Hill, member of the guaranty fund commission.
Source
newspapers
2. September 26, 1924 Suspension
Cause
Government Action
Cause Details
Closed by the state Department of Trade and Commerce due to inability to liquidate loans, very low cash on hand ($74) and supervision by guaranty fund commission.
Newspaper Excerpt
The Farmers Bank of Crawford was closed Friday evening by the department of trade and commerce.
Source
newspapers

Newspaper Articles (6)
1. September 27, 1924 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, September 27, 1924

Click image to open full size in new tab

Article Text

BANK CLOSES SECOND TIME CRAWFORD INSTITUTION IN HANDS OF STATE. Farmers Bank Had Been Made Depository by Several Receivers of Other Failed Banks. The Farmers Bank of Crawford was closed Friday evening by the department of trade and commerce. This bank was closed May 2, 1922, by the state department but reopened June 2, of the same year, said Secretary K. C. Knudson Saturday, under conditions which seemed to warrant reopening. It has been under close supervision by the department for the past year with E. M. Birdsall in charge as a representative of the department. The former officers were R. S. L. Hanaker, president; James H. Nestor, vice president; F. K. Stapleton, cashier. The bank has been placed in charge of Ray Tierney, state bank examiner, and Fay C. Hill, member of the guaranty fund commission. Secretary Knudson said during the year following its reopening on June 9, 1922, considerable money was placed on deposit by different receivers of other failed state banks, which amount is still carried as a deposit in the bank. The bank has been unable to liquidate on its loans and discounts and as a consequence has been in hard circumstances ever since it was reopened. The total amount of deposits at the time of closing was $134,000; loans and discounts, $118,000; cash on hand, $74. Secretary Knudson said he did not care to say what part of the $134,000 of deposits is money placed in the bank by its receivers of other failed banks. The guaranty fund commission has loaned no money directly to the closed bank but the guaranty fund will sustain a loss in making good the deposits of bank receivers and other depositors.

2. September 27, 1924 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, September 27, 1924

Click image to open full size in new tab

Article Text

BANK CLOSES SECOND TIME CRAWFORD INSTITUTION IN HANDS OF STATE. Farmers Bank Had Been Made Depository by Several Receivers of Other Failed Banks. The Farmers Bank of Crawford was closed Friday evening by the department of trade and commerce. This bank was closed May 2, 1922, by the state department but reopened June 2, of the same year, said Secretary K. C Knudson Saturday, under conditions which seemed to warrant reopening. It has been under close supervision by the department for the past year with E. M. Birdsall in charge as a representative of the department. The former officers were R. S. L. Hanaker, president; James H. Nestor, vice president; F. K. Stapleton, cashier. The bank has been placed in charge of Ray Tierney, state bank examiner, and Fay C. Hill, member of the guaranty fund commission. Secretary Knudson said during the year following its reopening on June 9, 1922, considerable money was placed on deposit by different receivers of other failed state banks, which amount is still carried as a deposit in the bank. The bank has been unable to liquidate on its loans and discounts and as a consequence has been in hard circumstances ever since it was reopened. The total amount of deposits at the time of closing was $134,000; loans and discounts, $118,000; cash on hand, $74. Secretary Knudson said he did not care to say what part of the $134,000 of deposits is money placed in the bank by its receivers of other failed banks. The guaranty fund commission has loaned no money directly to the closed bank but the guaranty fund will sustain a loss in making good the deposits of bank receivers and other depositors.

3. September 30, 1924 Star-Herald Scottsbluff, NE
Article from Star-Herald, September 30, 1924

Click image to open full size in new tab

Article Text

BANK AT CRAWFORD HAS CLOSED DOORS FOR SECOND TIME Farmers Bank Had Only $74 Cash On Hand When Doors Were Shut The Reports Shows The Farmers Bank of Crawford was closed Friday evening by the department of trade and commerce. This bank was closed May 2, 1922, by the state department but reopened June 2, of the same year, reports Secretary K. C. Knudson under conditions which seemed to warrant reopening. It has been under close supervision by the department for the past year with E. M. Birdsall in charge as a representative of the department. The former officers were R. S. L. Hanaker, president; James H. Nestor, vice-president; F. K. Stapleton, cashier. The bank has been placed in charge of Ray Tierney, state bank examiner and Fay C. Hill, member of the guaranty fund commission. Secretary Knudson said during the year following its reopening on June 9, 1922, considerable money was placed on deposit by different receivers of other failed state banks, which amount is still carried as a deposit in the bank. The bank has been unable to liquidate on its loans and discounts and as a consequence has been in hard circumstances ever since it was reopened. The total amount of deposits at the time of closing was $134,000; loans and discounts, $118,000; cash on hand, $74. Secretary Knudson said he did not care to say what part of the $134,000 of deposits is money placed in the bank by its receivers of other failed banks. The guaranty fund commission has loaned no money directly to the closed bank but the guaranty fund will sustain a loss in making good the deposits of bank receivers and other depositors.

4. September 30, 1924 Scottsbluff Republican Scottsbluff, NE
Article from Scottsbluff Republican, September 30, 1924

Click image to open full size in new tab

Article Text

CLOSES ITS DOORS THE SECOND TIME THE FARMERS BANK AT CRAWFORD HAD BUT $74 CASH ON HAND WHEN CLOSED The Farmers Bank at Crawford was closed Friday evening by the department of trade and commerce. This bank was closed May 2, 1922, by the state department but reopened June 2, of the same year, reports Secretary K. C. Knudson under conditions which seemed to warrant reopening. It has been under close supervision by the department for the past year with E. M. Birdsall in charge as a representative of the department. The former officers were R. S. L. Hanaker, president; James H. Nestor, vice-president; F. K. Stapleton, cashier. The bank has been placed in charge of Ray Tierney, state bank examiner and Fay C. Hill, member of the guaranty fund commission. Secretary Knudson said during the year following its reopening on June 9, 1922, considerable money was placed on deposit by different receivers of other failed state banks, which amount is still carried as a deposit in the bank. The bank has been unable to liquidate on its loans and discounts and as a consequence has been in hard circumstances ever since it was reopened. The total amount of deposits at the time of closing was $134,000; loans and discounts, $118,000; cash on hand, $74. Secretary Knudson said he did not care to say what part of the $134,000 of deposits is money placed in the bank by its receivers of other failed banks. The guaranty fund commission has loaned no money directly to the closed bank but the guaranty fund will sustain a loss in making good the deposits of bank receivers and other depositors.

5. October 3, 1924 Crawford Tribune Crawford, NE
Article from Crawford Tribune, October 3, 1924

Click image to open full size in new tab

Article Text

FARMERS BANK CLOSES AGAIN The Farmers Bank of this city closed its doors on Friday evening, and the following remarks from the Lincoln State Journal including the statements of K. C. Knudson, secretary of the State Banking Department, gives all the information obtainable at present: The Farmers Bank of Crawford was closed Friday evening by the department of trade and commerce. "This bank was closed May 2, 1922, by the state department but reopened June 2, of the same year," said Secretary K. C. Knudsen Saturday, "under conditions which seemed to warrant reopening. It has been under the supervision by the department for the past year with E. M. Birdsall in charge as a representative of the department. "The former officers were R. S. Q. Hamaker, president; James H. Nestor, vice president; F. M. Stapleton, cashier. The bank has been placed in charge of Ray Tierney, state bank examiner, and Fay C. Hill, member of the guaranty fund commission." Secretary Knudson said during the year following it reopening on June 9, 1922, considerable money was placed on deposit by different receivers of other failed state banks, which amount is still carried as a deposit in the bank. The bank has been unable to liquidate on its loans and discounts and as a consequence has been in hard circumstances ever since it was reopened. The total amount of deposits at the time of closing was $134,000; loans and discounts, $118,000; cash on hand, $74. Secretary Knudson said he did not care to say what part of the $134,000 of deposits is money placed in the bank by its receivers of other failed banks. The guaranty fund commission has loaned no money directly to the closed bank but the guaranty fund will sustain a loss in making good the deposits of bank receivers and other depositors.

6. December 8, 1925 Falls City Daily News Falls City, NE
Article from Falls City Daily News, December 8, 1925

Click image to open full size in new tab

Article Text

Kirk Griggs' Report States that Institutions Over to Guarantee Commission Since July, Lincoln, of the state department of trade and commerce, issued report in book form showing the condition of 913 commercial and the state to the last report of the present year. deals largely with the workings of the guaran*ee law the periods of stress recent years, wherein the state guarantee commission has taken over continued operation of embarrassed banks. Thirteen report shows, June 1925; banks sold consolidated with number of banks liquidated or placed in the hands of receivers number of banks reporting June 1925, 910. The report shows the following 25 banks turned over the guarantee fund commission from July 1924, June Ames, Farmres' State; Angora, Angora State bank; Bennington, Manand Glandt; Bridgeport, Bridgeport bank; Citizens Chadron, Citizens State: Clearwater, State Bank; Collegeview, Bank of Farmers' State; Craig, Farmers' State: CrawFarmers' bank; Ewing, Ewing State; Ewing, Pioneer State; Bank of Commerce; Hooper, Dodge County bank; Lynch, Security State: Lyons, Citizens' State; Lean, McLean Macy, Macy State; Newport, Rock County State: Omaha, (Florence) Commercial Omaha, Security Orchard, Orchard State: City, First State; Peru, Peru State, Ralston, Citizens' State; Rosalle, Farmers' State; Seneca, Seneca Sidney, AmeriSilver Creek, Silver Snyder, Snyder South Bank of South Sioux City: Trumbull, Trumbull Valentine, entine State bank; and Wolbach, Farmers' State. guarantee vation funds, from July 1924 June 1925, gives statements of and liabilities of each bank, sessment, refunds and balances. is said those who took drive on the highway south of town that everyone town or the rounding country, who did bit Sunday toward packing down the gravel that has been laid near the line. That exceedobjective for drive these days. Mr. and Mrs. Charles Ebel. from down on line, Mr. and Mrs. May from Ohio precinct, and Mr. and Mrs. August Lietzke, from Arago precinct, were among the busivisitors to Falls City Saturday. and Mrs. Ben Jorn, from near Verdon, were in town business SatThey reported their Boyd, suffering from severe attack grip