11506. Cornlea State Bank (Cornlea, NE)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
November 1, 1931*
Location
Cornlea, Nebraska (41.680, -97.566)

Metadata

Model
gpt-5-mini
Short Digest
e68019678f4a1853

Response Measures

None

Description

Articles (Apr 19, 1932) describe payment of final dividends to depositors of the failed Cornlea State bank, indicating the bank had failed and assets were being distributed. No article describes a depositor run; the bank appears to have been closed/failed and in receivership with final payouts, so this is a suspension leading to permanent closure. Exact suspension/closing date is not given in the snippets; one article alludes to events in November 1931 but is OCR-corrupted, so a precise date cannot be inferred with confidence.

Events (2)

1. November 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had previously failed (insolvency) and was being wound up; assets used to pay dividends to depositors per state department actions.
Newspaper Excerpt
final dividend...has been paid to depositors the failed Cornlea State bank.
Source
newspapers
2. * Receivership
Newspaper Excerpt
final dividend...has been paid to depositors the failed Cornlea State bank. total payment ... from assets of ... has paid depositors ... making total of 12.7 percent (Beatrice Daily Sun / Lincoln Journal Star, Apr 19, 1932).
Source
newspapers

Newspaper Articles (3)

Article from The Columbus Telegram, July 13, 1931

Click image to open full size in new tab

Article Text

LIGHTNER RETIRES Alone Presides Judge Spear at ATTORNEY'S MOVE FOR CONTINUANCE REFUSED Fremont, July 13 the decide whether Commerce Luikhart entitled take failed from Bliss, ousted receiver, resulted in the of District Judge Louis tirement Lightner from the case and an adAt opening the Beynon for the fication Judge Lightner on the grounds that he had written letter to Governor Charles W. Bryan, interfere in bank promising not Judge Lightner voluntarily from the ing Judge Spear on bench to hear alone. Judge Spear overruled motion Attorney Cook, asking for continuance of the case, Cook saying had just taken the case and did not know all of the points involved. Arthur Mullen, Governor Bryan's attorney, opposed motion, saying that there was noththe and that had died retired and would require great deal of research. Court was adjourned to permit Cook to study and gather data. Bliss that he will oppose the transfer of the long the applications for are and handled the Bliss said, to but await the action of the Bliss had in his fight with the governor that held his receiver through order of the district courts. Banks today Farmers State bank Belgrade; Boone State bank Bradish; Cornlea State bank; Farmers State: Clarks State bank; Dodge State bank; Farmers State bank of Fullerton; Farmers State bank of GeState bank of Bank and Murphy, of Humphrey: Lindsay bank; State bank; First bank of North Citizens and Farmers State bank of Scribner State bank; St. Edward Farmers State and the Snyder State bank, of Snyder. Lincoln, July 13 letter State Bass today, Attorney General said that the shall honor ordwhoever of failed when out the hands of the written folBass' assets failed banks since the brewed Governor Charles Bryan and Clarence Bliss. obligation to honthe Bliss the in Mr. Bliss by any court,' the torney general wrote


Article from Lincoln Journal Star, April 19, 1932

Click image to open full size in new tab

Article Text

BANK Final Dividends Paid Depositors at Cornlea, Thurston. The Elba State bank, Elba, reorganized, recapitalized and made by stockholders, reopened for business Tuesday according to by the department of trade and The bank 20, 1931. The plan contemplates payment of depositors capital stock $10,000, surplus deposits $33,000 cash from banks officers Bertel Leth, president; Anton Spilinek, vice president and J. Sumovich, final dividend of 2.2 percent, $3,003.92, has been paid to depositors the failed Cornlea State bank. total payment percent, amountto $13,926.82. final dividend from assets of percent, amounting $3,has paid depositors the Liberty State Thurston, making total of 12.7 percent


Article from Beatrice Daily Sun, April 19, 1932

Click image to open full size in new tab

Article Text

SUSPENDED LINCOLN, 19 state department of trade and today announced the organization and the reopening of the Elba State Elba. The bank business November Luikart, department secretary, said the institution was capitalized and placed in thoroughly solvent condition the stockholders. The plan reorganization. he said, contemplates ultimate payment in full to all depositors. Upon reopening. the bank had capital stock of $10,000; surplus, $2,500; deposits of $33,000, and of $12,000 due from other banks. Luikart also announced the pay ment of in dividends to failed state banks positors A payment of $$3,404, or nearly went to the depositors per the Liberty State bank Thurston, and the other $3,000. nearly per cent. went to the Cornlea state bank of Cornlea.