gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
de95942be041d348
Response Measures
Full suspension, Books examined
Other: The Security State Bank (operated under the State Guarantee Fund Commission) offered accommodations to the community (accepting checking accounts and handling business) during the emergency, though this was an assistance by another bank rather than a measure taken by Farmers National Bank itself.
Receivership Details
Depositor recovery rate
85.7%
Date receivership started
1928-11-21
Date receivership terminated
1934-05-29
OCC cause of failure
Governance
Share of assets assessed as good
33.2%
Share of assets assessed as doubtful
46.9%
Share of assets assessed as worthless
19.9%
Description
Articles mention a run/withdrawals preceding the bank's closing; suspension/receivership followed and dividends paid later.
Events (5)
1.April 10, 1911Chartered
Source
historical_nic
2.November 20, 1928Run
Cause
Rumor Or Misinformation
Cause Details
Newspapers attribute heavy withdrawals/a 'so-called run' in the days immediately prior to closing; no specific insolvency scandal is cited.
Newspaper Excerpt
Whether the so-called run on the bank which apparently had developed within the last few days was directly responsible for the closing of the bank is only a matter of conjecture.
Source
newspapers
3.November 20, 1928Suspension
Cause
Government Action
Cause Details
Bank closed and was taken into the custody of the Comptroller of the Currency/receiver following the closing.
Newspaper Excerpt
The Farmers National Bank of Wakefield failed to re-open its doors after the noon closing hours on Tuesday of this week, and the institution is now in the hands of the comptroller of currency.
Source
newspapers
4.November 21, 1928Receivership
Source
historical_nic
5.November 21, 1928Receivership
Newspaper Excerpt
the institution is now in the hands of the comptroller of currency. ... receiver would take charge of the bank, he believed, very soon.
Source
newspapers
Newspaper Articles (17)
1.November 22, 1928The Wakefield RepublicanWakefield, NE
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Article Text
Farmers Bank Quits; Security to Pay Soon
WAKEFIELD'S REMAINING BANK CLOSES ITS DOORS TUESDAY; BLAME WITHDRAWALS
The Farmers National Bank of Wakefield failed to its doors re-open after the noon closing hour on Tuesday, of this week, and the institution is now in the hands of the comptroller of currency. The only explanation given was sign on the door which read fol-
"Closed Due to Heavy WithPending Re-Organization. By Order of Board of Directors."
Later another notice was posted side it, and the first notice moved. The second notice
"This Bank, Under the DIrection of the Comptroller of the Currency in charge of Ross, National Bank Examiner. By Order of the Board of Directors."
Whether the so-called run on the bank which apparently had developed within the last few days was directly responsible for the closing of the bank is only matter of conjecture. Mr. M. A. Ross, examiner, who in charge, refused to make any statement other than that receiver would take charge of the bank, he believed, very soon. Officers of the institution had no statement to make to the public. R. H. Mathewson was president of the bank; H. Ware, vice president; and H. Bowman, cashier. The bank was one of the oldest institutions in this section of the country, having formerly been known the Farmers Traders Bank, and several years ago continued the Faremrs National. After taking over the interests of the old First Nationbank here few years back, the bank has always been considered one and considered to the try, last. The closing of the bank leaves Wakefield without bank or any banking facilities, with the exception of the accomodation offered by the Security State bank, which being operated under the direction of the State Guarantee Fund Commis-
SECURITY STATE BANK TO MAKE ANOTHER PAYMENT IN THE NEAR FUTURE
One bright spot on the horizon of the banking situation in Wakefield the fact that the Security State Bank of this place will pay out another dividend within the very near future. This information was given The publican for publication on Wednesday morning while the editor was in conversation with Mr. M. Strunk of the guarantee fund commission, who in charge of the bank. Mr. Strunk stated that he could not give the exact date, or the exact amount of the payment, but that the payment would be made very fact the department was at the present time making preparations for the payment and definite announcement would be made shortly. It was while making the above nouncement that Mr. Strunk told could announce that the Security State bank was ready to offer every accomodation possible during the present emergency. He stated that while it impossible for them to loan money, they could accept checking accounts and handle such business in accomodating manner any bank might do. He also stated that he could guarantee that when the time comes that receiver would be appointed for the bank, drafts would be drawn for the amount of every account in the bank and paid out before the bank closed.
2.November 29, 1928News-ChronicleWisner, NE
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Article Text
NATIONAL BANK AT WAKEFIELD CLOSED
The Farmers National Bank of Wakefield failed to re-open its doors after the noon closing hours on Tuesday of this week, and the institution is now in the hands of the comptroller of currency. Whether the so-called run on the bank which apparently had developed within the last few days was directly (responsible for the closing of the bank is only a matter of conjecture. Mr. M. A Ross, examiner, who is in charge, refused to make any statement other than that a receiver would take charge of the bank, he believed, very soon. Officers of the institution had no statement to make to the public. R. H. Mathewson, was president of the bank; H B. Ware, vice president and H. A. Bowman, cashier. The bank was one of the oldest institutions in this section of the country, hav ing formerly been known as the Farmers and Traders Bank, and several years ago continued as the Farmers National. After taking over the interests of the old First National bank here P few years back, the bank has always been considered as one of the most stable in the country and was so considered tothe last.
The closing of the bank leaves Wakefield without a bank or any banking facilities, with the exception of the accommodation offered by the Security State bank, which is being operated under the direction of the State Guarantee Fund Commission-Wakefield Republican.
3.November 29, 1928News-ChronicleWisner, NE
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Article Text
NATIONAL BANK AT WAKEFIELD CLOSED
The Farmers National Bank of Wakefield failed to re-open its doors after the noon closing hours on Tuesday of this week, and the institution is now in the hands of the comptroller of currency. Whether the so-called run on the bank which apparently had developed within the last few days was directly (responsible for the closing of the bank is only a matter of conjecture. Mr. M. A Ross, examiner, who is in charge, refused to make any statement other than that a receiver would take charge of the bank, he believed, Very soon. Officers of the institution had no statement to make to the public. R. H. Mathewson, was president of the bank; H B. Ware, vice president and H. A. Bowman, cashier. The bank was one of the oldest institutions in this section of the country, hav ing formerly been known as the Farmers and Traders Bank, and several years ago continued as the Farmers National. After taking over the interests of the old First National bank here P few years back, the bank has always been considered as one of the most stable in the country and was so considered tothe last. The closing of the bank leaves Wakefield without a bank or any banking facilities, with the exception of the accommodation offered by the Security State bank, which is being operated under the direction of the State Guarantee Fund Commission-Wakefield Republican.
4.April 27, 1929Norfolk Daily NewsNorfolk, NE
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Article Text
Bank at Wakefield Pays Big Dividend
Neb., April cial The News: George Cronkleton, receiver of the Farmers National bank of Wakefield, anthat he has checks the comptroller the currency for signature, representing the first dividend of percent the creditors of that trust. Claims against the failed bank aggregate $400,000, The bank suspend Nov. 1928. and the ceiver, in addition to paying the present dividend, has liquidated cured indebtedness over The dividend be paid soon checks returned from the comptroller's office and will amount nearly $176,000. The receiver also states that the Wakefield trust pay other substan tial dividends in the future.
5.April 28, 1929Omaha Sunday Bee-NewsOmaha, NE
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Article Text
Pays Dividend on Wakefield Bank
WAKEFIELD, April 27. George G. Cronkleton, receiver of the Farmers National bank of Wakefield, Neb., announces that ha has forwarded checks to the comptroller of the currency at Washington for signature representing the payment of first dividend of 45 per cent to the creditors. Claims against the failed bank aggregate about $400,000. The bank suspended on Nov. 20, 1928, and the receiver in addition to paying the present dividend has liquidated secured indebtedness of over $44,000. The dividend will be paid as soon as the checks are returned from the comptroller's office and will amount to nearly $176,000.
6.April 29, 1929Beatrice Daily SunBeatrice, NE
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Article Text
FIRST DIVIDEND FROM DEFUNCT WAKEFIELD BANK
Wakefield. Nebr., April 29. George Crockleton, receiver the Farmers' National bank of place, has forwarded checks the comptroller of the currency Washington for signature, resenting the payment first dividend per cent to the creditors. Claims against failed bank aggregate about $400,000. The bank suspended last November 25.
Ulster chequer finished the fiscal year surplus of $94,478. There been similar result every government in 1921,
7.April 29, 1929North Platte Daily TelegraphNorth Platte, NE
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Article Text
PAYS CREDITORS PER CENT
Wakefield, Neb., Aril 29. G. Crockleon, ceiver of the Farmers' National bank at this place, has forwarded checks to the comptroller of the at Washington for signcurrency ature, representing the payment first dividend of per cent to the creditors. Claims against the failed banks about $400,000. The bank gate suspended last November 25.
8.April 29, 1929The Omaha Morning Bee-NewsOmaha, NE
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Article Text
Depositors to Get 45 Per Cent
WAKEFIELD, April 28, George Cronkleton, receiver of the Farmers' National bank, has forwarded checks to the comptroller the currency Washington for signature, representing the payment of first dividend 45 per cent to the creditors. Claims against failed banks aggregate about $400,000. The bank suspended last Nov. 25.
9.May 2, 1929The Lyons Mirror-SunLyons, NE
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Article Text
CLOSED WAKEFIELD BANK TO PAY DIVIDEND George G. Cronkleston, receiver of the Farmers National Wakefield announces that he 023 forwarded checks to comptroiler the curiency at Washington for nature representing the payment first dividend of per to the creditors of that trust. Claims against the failed bank aggregate about $400,000. The bank suspended November 20, 1928. and the addition paying the present dividend has liquidated secured indebtedness of $44,000. The dividend will be paid soon the checks are returned from the comptroller's office and will amount to nearly $176,000. receiver states that Wakefield trust will pay other substantial dividends in the
10.May 2, 1929Superior Weekly JournalSuperior, NE
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Article Text
WAKEFIELD BANK PAYS CREDITORS
George G. Crockleton receiver of the Farmers' National bank at Wakefield, has forwarded checks to the comptroller of the currency at Washington for signature, representing the payment of first dividend of forty-five per cent to the creditors. Claims against the failed banks aggregate about $400,000. The bank suspended last Nov. 25.
11.May 3, 1929The Pender RepublicPender, NE
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Article Text
Pays Dividend on Wakefield Bank
George G. Cronkleton, receiver of the Farmers National bank of Wake. field, annunced that he has forwarded checks to the comptroller of the currency at Washington for signature representing the payment of first dividend of 45 per cent to the creditors, when in Pender last Saturday Claims against the failed bank ag. gregate about $400,000. The bank suspended on November 20. 1928. and the receiver in addition to paying the present dividend has liquidated secured indebtedness of over $44,000. The dividend will be paid as soon as the checks are returned from the comtroller's office and will amount to nearly $176,000.
12.May 8, 1929The Bushnell RecordBushnell, NE
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Article Text
CLOSED WAKEFIELD BANK Cronkleston, receiver of Farmers National of Wakefield, announces that he has forwarded checks comptroller of currency for signature representing the payment first dividend per cent creditors of that trust. Claims against the failed bank aggregate about $400,000. The suspended November 20, 1928, the receiver paying the present dividend has liquidated secured indebtedness of The dividend will be paid soon as the checks returned from the comptroller's office will amount to nearly $176,000. The receiver also states that the Wakefield trust will other substantial dividends in future.
13.May 9, 1929Arlington Review-HeraldArlington, NE
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Article Text
WAKEFIELD BANK CLOSED PAY DIVIDEND TO G. receiver of the Farmers National bank Wakefield, announces that he has forwarded checks to comptroller of the currency at Washington for signature the payment of first dividend of per cent to the creditors of that trust against the failed bank aggregate about The bank Noand the receiver vember 20, 1928, addition to paying the present dividend has liquidated secured indebtedness of The dividend will be paid soon as the checks are returned from the comptroller's office and will amount to nearly $176,000. The receiver also states that the Wakefield trust will pay other substantial dividends in the future.
14.May 9, 1929The FrontierO'Neill, NE
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Article Text
CLOSED BANK PAY DIVIDEND receiver Farmers National Wakefield that checks comptroller the for the credithat trust. Claims against failed aggregate about The 1928, and the receiver addition to the present dividend inThe dividend will be paid soon the checks from the office amount to nearly receiver states that the Wakefield trust will pay other substantial dividends in future.
15.May 10, 1929Clearwater RecordClearwater, NE
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Article Text
CLOSED WAKEFIELD BANK TO PAY DIVIDEND WAKEPIELD (Special) George Cronkleston, receiver Farmers National Wakefield, that he forwarded checks comptroller curWashington representing payment first dividend cent crediof Claims against failed aggregate about $400,000. bank suspended vember and receiver addition paying present dividend liquidated secured be checks returned comptroller's and amount nearly $176,000. receiver substantial dividends in future.
16.May 10, 1929The South Sioux City MailSouth Sioux City, NE
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Article Text
CLOSED WAKEFIELD BANK PAY DIVIDEND George Cronkleston, receiver of the Farmers National bank of Wakefield. announces that has forwarded checks to comptroller of the currency Washington for signature representing the of first dividend per cent creditors of that trust. Claims against the failed bank aggregate about The bank suspended November 20, 1928, and the receiver addition paying the present dividend has liquidated secured indebtedness of The dividend will be paid soon as the checks are returned from the comptroller's office and will amount nearly $176,000. receiver states that Wakefield trust will other substantial dividends in future.
17.July 1, 1934The Humboldt TimesEureka, CA
Article Text
BANK PAYS CREDITORS PER CENT
Wakefield. Neb., Aril 29. (A Crockleon, ceiver of the Farmers' National bank at this place, has forwarded checks to the comptroller of the currency at Washington for signature, representing the payment of first dividend of 45 per cent to the creditors. Claims against the failed banks aggregate about $400,000. The bank suspended last November 25.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
