11582. Elba State Bank (Elba, NE)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 20, 1931
Location
Elba, Nebraska (41.286, -98.568)

Metadata

Model
gpt-5-mini
Short Digest
90314f09a8d64dc2

Response Measures

None

Description

Articles report Elba State Bank suspended in November 1931, was reorganized/recapitalized by stockholders under the state department and reopened April 19, 1932. No mention of a depositor run; sequence is suspension then reopening.

Events (2)
1. November 20, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended business in November 1931 (failure/insolvency) and was later reorganized and recapitalized by stockholders with state department oversight.
Newspaper Excerpt
The bank business November ... reorganized, recapitalized ... reopened for business Tuesday
Source
newspapers
2. April 19, 1932 Reopening
Newspaper Excerpt
The Elba State bank, Elba, reorganized, recapitalized and made by stockholders, reopened for business Tuesday ... Luikart, department secretary, said the institution was ... placed in thoroughly solvent condition ... Upon reopening the bank had capital stock of $10,000; surplus, $2,500; deposits of $33,000 ... the plan contemplates ultimate payment in full to all depositors.
Source
newspapers

Newspaper Articles (2)
1. April 19, 1932 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, April 19, 1932

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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

2. April 19, 1932 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, April 19, 1932

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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.