12041. Citizens State Bank (Ralston, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1924*
Location
Ralston, Nebraska (41.205, -96.043)

Metadata

Model
gpt-5-mini
Short Digest
41f08bf403d86da1

Response Measures

None

Description

Articles report the State Guaranty Fund commission took over the Citizens State Bank of Ralston (receiver assigned) in July prior to the 1925 article after alleged discrepancies and forgeries by the former cashier. No contemporaneous description of a depositor run appears; later 1927 court decisions concern claims from the bank's failure. Dates corrected from article context: 'last July' relative to April 19, 1925 => July 1924.

Events (3)
1. July 1, 1924* Receivership
Newspaper Excerpt
the state guarantee fund commission, which took over the bank last July, when alleged discrepancies were found in the bank's funds
Source
newspapers
2. July 1, 1924* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Alleged discrepancies in bank funds and forgeries by former cashier Ted J. Shanahan led the state guaranty fund to take over the bank (implying suspension/closure).
Newspaper Excerpt
the state guarantee fund commission, which took over the bank last July, when alleged discrepancies were found in the bank's funds
Source
newspapers
3. May 8, 1927 Other
Newspaper Excerpt
The suit ... resulting from the failure of the Citizens State bank of Ralston. depositor sought to recover $21,144.91 on deposit. ... The supreme court affirmed this decision.
Source
newspapers

Newspaper Articles (2)
1. April 19, 1925 The Omaha Daily News Omaha, NE
Article from The Omaha Daily News, April 19, 1925

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Article Text

FORMER CASHIER OF RALSTON BANK FURNISHES BOND Complaint Filed Against ExOfficial After Auditor Scans Records. ACCUSED REMAINS SILENT Ted J. Shanahan, former cashier of Citizen's State bank of Ralston, Saturday furnished bond of $1,000 on each of three specific charges of forgeries of bank with. drawal receipts on his brother, M. P. Shanahan of Omaha. The three receipts totaled $3,200 The complaint against Shanahan was filed by George R. Buckner, auditor of the.state guarantee fund commission, which took over the bank last July, when alleged discrepancies were found in the bank's funds Mr. Shanaban's bond, totaling $3,000. was signed by Mrs. Bell Hatch, milliner, 2419 South Eighteenth street, and Mrs. Bertha Liv. ingston, both friends of the Shanahan Appears Before Judge Shanahan appeared before Judge Bryce Crawford in county court and made bond when he learned a war rant for his arrest had been issued. The former bank cashier declined to comment on the matter other than to say that he had lost his personal fortune of $40,000 in an effort to prevent an impending crash of the Citizens' State bank. "Shanahan hasn't profited personally by discrepancy in the bank's funds," saaid Attorney C: F. Con nolly, whom Shanahaan authorized to make statement for him.

2. May 8, 1927 The Omaha Morning Bee, The Omaha Daily News Omaha, NE
Article from The Omaha Morning Bee, The Omaha Daily News, May 8, 1927

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Article Text

Depositors Win 1 in Ralston Case Guaranty Fund Relieved of $44,000 Claims in Other Decisions. Lincoln. May The state guaranty fund will be required to pay approximately $48.000 and will relieved from paying approximately $44,000 in claims resulting from bank fallures, opinions handed down Saturday by the state supreme court. The suit involving the largest claim which was lost by the guaranty fund was one resulting from the failure of the Citizens State bank of Ralston. depositor sought to recover $21 144.91 on deposit. The claim opposed by the bank receiver on the ground that more than the legal rate of interest had been paid on the deposits. The district court of Douglas county ordered the claim paid out of the guaranty fund. The supreme court affirmed this decision. Judgments of lower courts were affirmed without opinions in eight other cases, seven of which involved claims resulting from failure the Farmers State bank of Dix Lower court decisions in favor of the guaranty fund which were affirmed by the supreme court involved the following claims: T. Stroud, $5,199.31 Jackson brothers, $10,373: Bekins Van and Storage company. $2,079: State Bank of Omaha, These claims were allowed as general claims. but are not to be paid out of the guaranty fund. claim of Olive Roberts for $7,230 allowed against the guaranty fund, another for $2,584 disallowed. The claim of George A. Roberts for $9,868 was disallowed. while another for $3,084 was allowed.