11374. Farmers State Bank (Benedict, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 21, 1922
Location
Benedict, Nebraska (41.006, -97.606)

Metadata

Model
gpt-5-mini
Short Digest
393f0730c2afb1b3

Response Measures

None

Description

Articles report the Farmers State Bank of Benedict was closed by the state banking board and a receiver (C. H. Kolling) was appointed after bank officers pleaded guilty to forgery and false reports in Sept. 1922. A later 1927 suit by the receiver to collect notes confirms the institution remained in receivership/closed.

Events (3)

1. September 21, 1922 Receivership
Newspaper Excerpt
Judge Corcoran has appointed C. H. Kolling... as receiver for the Benedict institution. This was made on the recommendation of bankers of the district.
Source
newspapers
2. September 21, 1922 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Vice president Floyd R. Ward pleaded guilty to forging a note and making false reports (omitting a $40,000 deposit); criminal conduct by officers prompted closure and receivership.
Newspaper Excerpt
The bank was closed Saturday by the state banking board... Judge Corcoran has appointed C. H. Kolling, a bank of York, as receiver for the Benedict institution.
Source
newspapers
3. August 1, 1927 Other
Newspaper Excerpt
C. H. Kolling has brought suit in district court to recover $2273.30 on a note ... given April 20, 1922 to the Farmers State Bank of Benedict and later sold to Kolling through the bank's receiver.
Source
newspapers

Newspaper Articles (2)

Article from The Madison Daily Leader, September 21, 1922

Click image to open full size in new tab

Article Text

TWO BANKERS ARE HEADED FOR PEN ENTER PLEAS OF GUILTY TO FORGERY AND FAILURE TO MAKE PROPER REPORTS. Lincoln, Neb., Sept. 21-Two more Nebraska bankers are headed for the state penitentiary. They'are L. E. Cooper, cashier of the Waco State bank, and Floyd R. Ward, vice president of the Farmers' State bank of Benedict. Both pleaded guilty before Judge Corcoran of the distriet court at York Saturday. Cooper admitted forging two notes and was sentenced to three years in the Nebraska prison on each of the two counts. Ward pleaded guilty to making a false report to the state banking department and also to the forgery of a note. He was given five years on the first charge and two years on the second. L. E. Cooper formerly lived at St. Joseph, Mo. On Memorial day somebody shot through the window of his bank at Waco in an effort to hit an of Jeff Davis. Cooper had been requested to take the picture down and had refused. He has a wife and two children. He pleaded guilty to the forgery of a note for $1,500 bearing the namewof William Bloom and another note for $2,500 bearing the name of William Schlecte, both dated July 18. It was alleged that Cooper was hard pressed for money because of high living. The bank was closed Saturday by the state n banking board. The deposits are : $78,000 and the loans $125,000. : Floyd R. Ward, of Benedict, for, merly lived at Pierce. He has a wife / and three children. He confessed n to forging a note for $3,800 béaring the name of O. S. Jeffery and e placing it in the bank. He further t admitted making a false report to the Nebraska banking board by t omitting a deposit of $40,000 made 8 by Jeffery and put in the bank to y tide it over. Judge Corcoran has ap. pointed C. H. Kolling, a bank of d York, as receiver for the Benedict institution. This was made on the S recommendation of bankers of the r district.


Article from York News-Times, August 1, 1927

Click image to open full size in new tab

Article Text

FILES SUIT C. II Kolling has brought suit in district court to recover $2273 30 on a note of C. W. Heinike, given April 20, 1922. to the Farmers State Bank of Benedict. and later sold to Kolling through the bank's receiver. E. J.