Security State Bank (Ravenna, NE)

Episode Information

Episode UID
76123471582
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
7612347 routing
Routing Number
76-1234
Start Date
October 9, 1931
Location
Ravenna, Nebraska (41.026, -98.913)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3e40369cb780eceb

Response Measures

None

Events (5)
1. October 9, 1931 Run
Cause Details
Heavy withdrawals / depositor runs described but no specific rumor or bank insolvency explicitly identified
Measures
Cashier closed bank and suspended business to stop heavy withdrawals; assured depositors bank had full legal reserve
Newspaper Excerpt
suspended business put stop to the heavy withdrawals that have attacked the bank within the past few days
Source
newspapers
2. October 9, 1931 Suspension
Cause Details
Bank voluntarily suspended operations to stop heavy withdrawals and avoid breaching legal reserve
Newspaper Excerpt
Cashier Emil Holub closed the Security State Bank Thursday morning, and suspended business
Source
newspapers
3. January 15, 1932 Receivership
Newspaper Excerpt
Assistant Receiver Frank McGrew has charge ... the filing of claims in the Security State bank begin in ten days or two weeks; the liquidation of the two banks is proceeding quietly but rapidly and claims ... will be eligible soon (Jan. 15, 1932 article describing receivership/liquidation work).
Source
newspapers
4. October 27, 1933 Other
Newspaper Excerpt
Gilmore Love purchased the Security State bank building last week from the receivership division of the state of Nebraska
Source
newspapers
5. January 18, 1934 Other
Newspaper Excerpt
District Judge ... has authorized another 10 per cent dividend of $6,881.21 by the failed Security State bank of Ravenna. This will make 70 per cent of the deposits repaid.
Source
newspapers

Newspaper Articles (5)
1. October 9, 1931 The Ravenna News Ravenna, NE

Article Text

Security Suspends Temporary Cashier Holub Assures Public Has Full Reserve to Pay Depositors. With the statement that the bank still with full legal reserve, and that 'depositors will protectand can be in paid Cashier Emil Holub closed the Security State Bank Thursday morning, and suspended business put stop to the heavy withdrawals that have attacked the bank within the past few days. The Security Bank acting under orders George Woods, of Lincoln, who last week told them they might expect some to the closing of the State Bank Ravenna. Woods told them that the run too hot, suspend rather than let the break the bank. He told them that they needed him. he would come out and meet with the deposiand tell them that the run must be stopped if they want to save the money the bank. That is exactly what has taken place. steady, slow withdrawal has hit the bank the last few days, sapping their excess cash Chief Ex. aminer Foster was that the bank was suspending pendtheir orders, and the Examiner that Commissioner George Woods would Ravenna to meet depositors soon as possible. withdrawal from the bank has been accompanied by any outfright or panic, but has been heavy The bank suspended rather than let their reserve below legal percentage. Cashier Holub said: depositors will be protected, and can be paid in Holub said all drafts and exchange business had been paid, or in other words all checks and drafts that had been cleared, have been Other checks that had not reached clearance by Wednesday, cannot course be handled until the bank opens again. The State Department has not or will not take charge of the bank its business. Employees were at work usual on Thursday morning, posting Wednesday's business carrying on as usual. The bank will meremark time until the meeting of the depositors Rather than let the withdrawals from the bank Holub said they would rather stop where they are, pay all the depositors, liquidate the paper and quit business. Business men in Ravenna will meanwhile of the services of bank. This will great handicap business men. Any check received town an out-of-town bank will have to be sent direct to the bank drawn And ask for cash money order, because otherwise, the bank will send draft and you can't cash the draft any easier than the check.

2. October 16, 1931 The Ravenna News Ravenna, NE

Article Text

Developments Meanwhile Temporary Structure Slowly Being Set Up and Put Into Motion The situation which appears from the outside to particularly deplorable of town temporarily without not in realdeplorable, but merely inconvenAnd from appearances, seems, temporary structure being built at present which will eliminate much the inconvenience within week The banking trouble which chronic over entire state at preshas completely swamped the state banking department. Commissioner Woods, who to appear in Ravenna soon before the body of positors of the State Bank Ravenand the Security State Bank, swamped. He unable to say na, his services being badly needed Meanwhile, at the State Bank Ravenna, the preliminary work been finished, and depositors are now able to appear at the bank, get their statements, and receive information regarding liquidation. The Security Bank, which not in the hands of the State Banking department, has their safe sealed, and the force merely marking time until further word is received from Lincoln. group from the Community effort local clearing house, bureau of exchange set up temporarily, has been partly successful and partly frustratthe meeting the CommunLuncheon club Tuesday evening, was brought out that to up office Ravenna, representing the State Bank Poole the NaGrand Island, deposits and cash checks and issue change would be direct violation of the banking statutes The State Bank of Poole nouncing in issue that they will cash salary and other checks for Ravenna people, making small service charge to cover number Ravenna merchants are preparing to keep slightly larger amount currency hand to cash smaller checks They intend to give preference their customers, as might be expected. expected that when local folks become acquainted system, things will run quietly and smoothly Members reported at the Community Club that they had entertained visitors the city this week, who were prying into the banking situation here, and seeking information the view of opening new bank. The problem their minds seemed to be not much matter raising the necessary capital and surplus, more to how much supthe bank would get in the city whether charter could be obtained. There nothing at all definite in this direction,

3. January 15, 1932 The Ravenna News Ravenna, NE

Article Text

Bank Liquidation Work Goes Forward With all the claims against the State Bank of Ravenna filed and ready to court consideration, and the filing of claims in the Security State bank begin in ten days or two weeks, the of liquidation the two banks is proceeding quietbut rapidly All claims for the State Bank had be filed December 1931. The hearing of the district court for validation the claims will take place January 29, 1932, the end this month. After the claims are dated and recorded, available dividends can be paid, although Asst. Receiver Frank McGrew says that collections are pretty slow. Claims for money in the Security State Bank will be eligible for soon. Mr. McGrew relates that the state department in Lincoln overloaded with receivership work that they are about two weeks behind There is no statute which makes to hold depositor's meetin closed neither there statute which makes necessary appoint depositor's with the liquidation For this reason meetings both the State Bank and the Security bank will not be held. The department figured that as long receivwas already on the in Ravenand reorganization either bank impractical, there was little use spending $50 to hold meeting. There will be depositor's committee to help with the classification the paper, but will consist of selected by the assistant by the state partment. committee of three has already been appointed for the State Bank. Assistant Receiver Frank McGrew has charge of the three banks Ravenna, bank Mason City and one big but divides the cost of liquidation considerably.

4. October 27, 1933 The Kearney Daily News Kearney, NE

Article Text

Gilmore Love purchased the Security State bank building last week from the receivership divisof the state of Nebraska A1though he does not have possession until Bank Receiver McGrew linquishes the first of next year, intends for funeral home instead present room beneath the Masonic Ravenna football fans and other friends thoroughly enjoyed reading Hubert splendid in the Nebraska game great favorite, locally when he Ravenna and played the high team and pleasant that still making good larger field Pheasant hunters swarmed Ravenna Saturday night and Sunday eager for the of pick the hunting fields. Local oil tions commenced receive calls early morning from the hunters. Some fortunately locat got their quota birds and their way home by ten o'clock the morning. Reports of guns were heard from all directions but the wily birds keep under cover Melvia Hochreiter called Giltner last week serious illness her aged moth At last reports she entirely out of danger. Miss Nellie Clark Grand Island visitor Friday of lastweek. The Junior Epworth Leaguers held party Friday evening last week, the entertainment along Hallowe'en lines, with ghosts and Mr. and Mrs. Calhoun the parents of son, born Sunday, Oct. Amil Hlava was Grand Island shopper Friday of last week. Mrs. W. Thomas party of young folks last Friday Tuttle started for Chicago Tuesday morning of this week He making the by auto and companied his wife home. She has been visiting relatives and around Chicago well as attendthe Century of Progress. Several young people from the University of Nebraska came home last Friday evening to spend the with their parents. Among them Miss Janet Dickensen, Charles Bursik. Erwin Feldmeyer and Jack The Missionary circle of the Methodist church Ravenna luncheon Tuesday of this week raise funds. given the church annex and among the hostesses were Mrs. Love, Mrs. Hillebrand and Mrs. Greenslit. Frank Swanda went North Platte the latter part of last week delegate the firemen's vention being held in that town, representing the Ravenna firemen He remained day longer for fishing and brought home splendid Dr. Mrs. Sundstrum and son from visited Sundstrum's aged mother last week. Besides Mrs. George Newberg they also visited other relatives and friends. Mrs. Moler and daughter, Ruth. drove Beaver Crossing visit few days with relatives last Sunday They accompanied their guest, cousin Mrs. Moler's who visiting them. Mrs. Kent and baby daughter returned home from the St. have Francis hospital Grand Island cooked food sale held by the Woman's the last Saturthe meat day Mrs Pulius Knotek and son turned Sunday from relatives in Council Bluffs, Mrs. Randall enjoving extended visit of mother, Mrs. Wright, of Neligh. She will probably remain for the winRavenna Miss Louise who has been employed the Swanda Beauty has to Grand Island parlor, gone where she will given instructions in beauty treatment.

5. January 18, 1934 The Omaha Morning Bee-News Omaha, NE

Article Text

FAILED RAVENNA BANK TO PAY 10 PCT. DIVIDEND KEARNEY, Jan. District Judge B. 0. Hostetler has authorired another 10 per cent dividend of $6,881,21 by the failed Security State bank of Ravenna. This will make 70 per cent of the deposits repaid.