12021. First National Bank (Plainview, NE)

View Charter #9504 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9504
Charter Number
9504
Start Date
October 1, 1928*
Location
Plainview, Nebraska (42.350, -97.792)

Metadata

Model
gpt-5-mini
Short Digest
c5776a17712ecadf

Response Measures

None

Receivership Details

Depositor recovery rate
41.1%
Date receivership started
1928-08-22
Date receivership terminated
1934-05-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
30.3%
Share of assets assessed as doubtful
59.1%
Share of assets assessed as worthless
10.6%

Description

The articles describe the First National Bank of Plainview having closed (suspended) and a receiver being appointed; the bank remained in receivership and did not resume normal operations. OCR errors in the snippets make exact dates unclear: one article (Nov 1929) says the bank closed a little over a year ago, implying closure in Oct 1928. Another Nov 1929 article reports the receiver's activities (depositors lined up when the closed bank opened briefly to inspect safe-deposit boxes). Subsequent items (1931, 1934) discuss receivers and dividend payments, consistent with a permanent closure and receivership. Dates below are approximate where the original text was ambiguous.

Events (6)
1. August 12, 1909 Chartered
Source
historical_nic
2. August 22, 1928 Receivership
Source
historical_nic
3. October 1, 1928* Suspension
Cause Details
Bank closed and payments suspended with receiver appointed; article language says action taken to protect depositors. Exact trigger not specified in OCR text.
Newspaper Excerpt
The bank closed Oct. ... the action was taken to protect depositors
Source
newspapers
4. November 1, 1928* Receivership
Newspaper Excerpt
M. E. Jensen ... has been appointed receiver of the Plainview First National bank since it closed a little over a year ago ... will take charge tomorrow; state and newly receiver for the bank. Little said that no ities had discovered the and boxes investigated today. State auditors check the bank's books . . . The deposithave three months in which file their statements for adjustment of their accounts. (OCR imperfect).
Source
newspapers
5. November 13, 1929 Other
Newspaper Excerpt
BANK RECEIVER MOVED TO ILLINOIS DISTRICT ... M. E. Jensen, who has been receiver of the Plainview First National bank since it closed a little over a year ago, has been transferred to Taylorville, Illinois ... George G. Cronkleton ... has been placed in charge here and will be assisted by S. G. Coombs.
Source
newspapers
6. March 1, 1934 Other
Newspaper Excerpt
NOTICE TO DEPOSITORS OF THE FIRST BANK OF PLAINVIEW, NEBRASKA ... pay dividend to creditors ... office of The First National Bank ... George Cronkleton, Receiver, The First National Bank, Plainview, Nebraska.
Source
newspapers

Newspaper Articles (4)
1. November 4, 1929 Belleville Daily Advocate Belleville, IL
Article from Belleville Daily Advocate, November 4, 1929

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Article Text

300 IN LINE WHEN CLOSED BANK OPENS DOORS Nov More than 300 depositors of the Urbana were in line outside its doors this when the bank opened for the first since Octo check ove their and the contents of their safe deposit Only two or three were allowed at time by Roger Little. state and newly receiver for the bank. Little said that no ities had discovered the and boxes investigated today. State auditors checkthe bank's books The deposithave three months in which file their statements for adjustment their accounts. BANK RECEIVER NAMED Ill., Nov Jensen. Plainview. Neb. been appointed receiver of First National Bank of this city and will take charge tomorrow The bank closed Oct. with the planation that th eaction was taken protect depositors following closing Coll-Grove bank because frozen VISIBLE GRAIN SUPPLY NEW visible supply of American grain shows the changes bushwheat increased els; corn decreased creased rye increased 000; barley decreased NEW YORK COTTON NEW Nov futures closed barely steady points lower: December January 17.80: March spot mid- Corn shelled Shipstuff, cwt Bran, per cwt Oats HAY per per POULTRY Timothy cwt. White corn $1.20@1.28 Hens lbs. and under Cocks Stags Young each Springs, lb. Dark Ducks White Ducks Spring ducks Young geese turkeys 40c Young BUTTER AND EGGS Butter country 50c per Eggs, per dozen

2. November 13, 1929 The Laurel Advocate Laurel, NE
Article from The Laurel Advocate, November 13, 1929

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Article Text

BANK RECEIVER MOVED TO ILLINOIS DISTRICT M. E. Jensen, who has been receiver of the Plainview First National bank since it closed a little over a year ago, has been trasferred to Taylorville, Illinois, where he goes to accept a like position in a large bank just recently closed. He departed for that place Sunday morning, but will not move his family there until the fore part of next month. Mr. Jensen is a very competent man and has made many warm friends during his brief residence in Plainview. George G. Cronkleton, who is receiver of First National banks at Coleridge and Wakefield, has been placed in charge here and will be assisted by S. G. Coombs These gentlemen expect to divide their time between these banks from this date on. Both are very capable men. Miss Engle will remain at least temporarily as bookkeeper and stenographer, a position she has filled with general satisfaction during the past year.-Plainview News.

3. October 15, 1931 The Hastings Democrat Hastings, NE
Article from The Hastings Democrat, October 15, 1931

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Article Text

CRONKLETON Will Take Charge of Institution On Friday of This Week HANDLES NINE OTHER BANKS Partial Payment of Deposits Will Be Made Earliest tical Date After Thorough Checkup of Banks Affairs. The appointment of George Cronkleton receiver the First National Bank Hastings announced from Washington Wednesday this week and said that Mr. Cronkleton take charge of the bank day morning this week. He at present in charge of nine other national banks in Nebraska, including the First NationBank Coleridge. the Hartington Bank the Walthill National Bank Walthill, the First National Bank Plainview, the Laurel National Bank Wakefield, the First National Bank of Humphrey, Saunders County National Bank Wahoo, the First National Bank at Elgin. Mr. Cronkleton, when advised of was Coleridge and said he would come to Hastings once and soon he can conveniently do will move his headquarters Cronkleton has been acting National Bank Receiver middle west ten years. His long experience in the work enables him handle the affairs of closed banks rapidly may consistent with good and believed that affairs of the local bank will closed rapidly under management. The work of invoicing the assets the bank has been completed Frank Nelson and his assistants and the complete report the affairs of the institution ready for the when he takes charge. presumed that dividend to the depositors will paid once if funds are available for that purpose.

4. March 1, 1934 The Plainview News Plainview, NE
Article from The Plainview News, March 1, 1934

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Article Text

NOTICE TO DEPOSITORS OF THE FIRST BANK OF PLAINVIEW, NEBRASKA NOTICE IS HEREBY GIVEN that the undersigned Receiver the First National Bank of Plainview, Nebrashis assistant, will the pay dividend creditors bank Wednesday, Thursday, and Friday, March and 1931. Such payment will be made the office Nebraska Securities Corporation, located in the old fice of The First National Bank. will be necessary for claimants to bring their Receiver's Certificates and surrender them to the Receiver when final dividend check paid to them. desired that all dividend checks be delivered within three days, the trust will soon be closed, and undelivered be forwarded to the office of the Comptroller of the at George Cronkleton, Receiver, The First National Bank, 36-2t Plainview, Nebraska.