11839. Mitchell State Bank (Mitchell, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1928*
Location
Mitchell, Nebraska (41.940, -103.809)

Metadata

Model
gpt-5-mini
Short Digest
7f5e9529c8cd733f

Response Measures

None

Description

OCR corrected obvious errors. Articles state the Mitchell State Bank failed to open its doors in January 1928; the Nebraska State Guaranty Fund Commission took possession and operated the bank as a going concern but paid only one installment to depositors. By August 1929 depositors of the 'failed Mitchell State Bank' were still organizing. No run is described; the bank was taken into possession by a state guaranty agency (government action) and remained closed/failed as of these articles.

Events (3)
1. January 1, 1928* Receivership
Newspaper Excerpt
The Nebraska State Guaranty Fund commission took possession the bank at that time, have continued and operated since then as going bank. During this time they only been able to pay one installment ... Mr Bellamy now going enjoy the privilege asking the money justly due him from the State Guaranty
Source
newspapers
2. January 1, 1928* Suspension
Cause
Government Action
Cause Details
Bank 'failed to open its doors' in January 1928 and the Nebraska State Guaranty Fund Commission took possession of the bank.
Newspaper Excerpt
he had deposit there January, 1928, when the bank failto open its doors. The Nebraska State Guaranty Fund commission took possession the bank that time
Source
newspapers
3. August 1, 1929* Other
Newspaper Excerpt
Depositors in Failed Bank Gather Saturday ... meeting depositors of the funct Mitchell state bank has been called ... by the committee in charge. Only those who were depositors of the failed institution admitted the understood.
Source
newspapers

Newspaper Articles (2)
1. February 17, 1929 Star-Herald Scottsbluff, NE
Article from Star-Herald, February 17, 1929

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Article Text

BELLAMY SEEKING RECOVERY OF SUM IN DEFUNCT BANK Local Man Declares Promise of Payments Not Carried Out by Bank Receiver. Fred Bellamy of this city has filed suit district court against the Mitchell State of Mitchell, the Nebraska State Bank GuaranFund commission, to recover some that he had deposit there January, 1928, when the bank failto open its doors. The Nebraska State Guaranty Fund commission took possession the bank that time, have continued and operated since then as going bank. During this time "they only been able to pay one installment, amounting to per cent,' Mr Bellamy, have made numerous promises of additional payments but failed to make them good.' Mr Bellamy now going enjoy the privilege asking the money justly due him from the State Guaranty

2. August 16, 1929 Star-Herald Scottsbluff, NE
Article from Star-Herald, August 16, 1929

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Article Text

Depositors in Failed Bank Gather Saturday meeting depositors of the funct Mitchell state bank has been called for eight o'clock Saturday ning the city hall in Mitchell, by the committee charge. Only those were depositors the failed institution admitted the understood.