First National Bank - Bridgeport, NE

Episode Information

Episode UID: 971101457
Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 97110 national
Charter Number: 9711
Start Date: May 28, 1921
Location: Bridgeport, Nebraska (41.665, -103.099)

Metadata

Model: gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 525050f1097a1d39

Response Measures

None

Receivership Details

Depositor recovery rate: 43.5%
Date receivership started: 1921-05-28
Date receivership terminated: 1929-12-31
OCC cause of failure: Fraud
Share of assets assessed as good: 46.0%
Share of assets assessed as doubtful: 36.7%
Share of assets assessed as worthless: 17.3%

Description

The article discusses dividend payments from a receivership that began in 1921; it does not describe the initial suspension event in detail.

Events (4)

1. March 25, 1910 Chartered

Source: historical_nic

2. May 28, 1921 Receivership

Source: historical_nic

3. May 28, 1921 Receivership

Newspaper Excerpt: sent by the receiver of that institution to the state of Nebraska
Source: newspapers

4. May 28, 1921 Suspension

Cause Details: Bank suspended and entered receivership; specific trigger not detailed in this retrospective article.
Newspaper Excerpt: the Bridgeport bank suspended a year ago
Source: newspapers

Newspaper Articles (1)

1. September 24, 1923 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, September 24, 1923

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Article Text

Two dividend checks, aggregating 30 per cent of its claim against the defunct First National bank of Bridgeport, have been sent by the receiver of that institution to the state of Nebraska. But it will take quite a little more money than this to wipe out the half million dollar overdraft in the state general fund. For the state's claim against the failed bank was only $1, and the 30 per cent allowed and paid on it up to this time amounts to just 30 cents. State Treasurer Robinson got the first check, which was for 10 cents, last February. The second one for 20 cents reached him in Monday morning's mail. Both were made out to his predecessor, D. B. Cropsey, who was state treasurer at the time the Bridgeport bank suspended a year ago. Robinson has not cashed either of them as yet. He is carrying them as cash items, along with nickels, pennies and postage stamps which he keeps in a box. The state had no money on deposit with the Bridgeport bank, but just at the time of its failure a check for $1 drawn upon it happened to come into the hands of the state treasurer, in payment for a fee or license of some kind. It was necessary for the state to file a claim in the regular way, and whenever a dividend is declared it gets its proportionate share.