12061. First State Bank (Richfield, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 6, 1926
Location
Richfield, Nebraska (41.108, -96.075)

Metadata

Model
gpt-5-mini
Short Digest
2d067972809ce46a

Response Measures

None

Description

Articles (Sept–Dec 1926) describe the First State Bank of Richfield as defunct/insolvent, taken by the state guaranty fund commission after disappearance of president E. C. Goerke and placement of worthless securities; a former cashier later pleads guilty to embezzlement. No article describes a depositor run prior to suspension; the bank was closed/failed and placed under state authority, consistent with suspension leading to permanent closure/receivership.

Events (4)
1. September 6, 1926 Other
Newspaper Excerpt
Citizens of Richfield Plan to Buy Defunct Bank / Plans being made for 30 of Richfield to buy the defunct First State Bank ... Van Peterson said affairs of the Richfield ... except worthless securities placed in by Goerke.
Source
newspapers
2. September 6, 1926 Receivership
Newspaper Excerpt
said Van E. Peterson, secretary of state guaranty fund commission, upon his return here today from an investigation of the institution ... the bank became insolvent ... before it was taken the state guaranty fund commission.
Source
newspapers
3. September 6, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency following disappearance of president E. C. Goerke and discovery of worthless securities he placed; state guaranty fund commission investigation and takeover.
Newspaper Excerpt
Plans are being made for 30 citizens of Richfield, Neb., to buy the defunct First State Bank of Richfield, said Van E. Peterson, secretary of state guaranty fund commission, upon his return here today from an investigation of the institution. The bank became insolvent following the disappearance of E. C. Goerke ... affairs of the Richfield bank are in good condition with the exception of worthless securities placed in by Goerke.
Source
newspapers
4. December 27, 1926 Other
Newspaper Excerpt
Former Bank Cashier Admits He Embezzled / Glenn Benter Gets 10 Years for Five Hundred Dollars From Failed Richfield Bank. ... former cashier of the First State of Richfield ... pleaded guilty ... was sentenced this afternoon District Judge James Begley, term of from to ten years.
Source
newspapers

Newspaper Articles (3)
1. September 6, 1926 Fremont Tribune Fremont, NE
Article from Fremont Tribune, September 6, 1926

Click image to open full size in new tab

Article Text

CITIZENS PLAN TO RUN DEFUNCT RICHFIELD BANK Sept. are being made for 30 citizens of Richfield. Neb., to the defunct First State Bank of Ritchfield. said Van E. Peterson, secretary of state guaranty fund commission, upon Mis return here today from an investigation of the institution. The bank became Insolvent following the disappearance of E. C. Goerke, its A nation wide search for Genrke has been underway several weeks. Peterson said that affairs of the Richfield bank are in good condition with the exception of in worthless securities placed in Georke.

2. September 7, 1926 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, September 7, 1926

Click image to open full size in new tab

Article Text

Citizens of Richfield Plan to Buy Defunct Bank investigation the institution. The bank president. search has been under way several weeks. Lincoln. Plans being for 30 of Righfield. the defunct First State bank of Peterson said affairs of the Richfield said Van secre- are the ception of worthless securities tary the commishis return here today from an placed in by Goerke sion, upon

3. December 27, 1926 The Plattsmouth Journal Plattsmouth, NE
Article from The Plattsmouth Journal, December 27, 1926

Click image to open full size in new tab

Article Text

Former Bank Cashier Admits He Embezzled Glenn Benter Gets 10 Years for Five Hundred Dollars From Failed Richfield Bank. Papillion, Neb., Dec. former cashier the First State of Richfield, four south of who was at Schuyler, Neb., warrant charging which was sworn here by County Attorney pleaded guilty today at his preliminary arraignment before CounJudge Wheat. was sentenced this afternoon District Judge James Begley, term of from to ten years. Benter, cousin Goerke, missing former president of both Papillion State bank and the First State bank Richfield, both of which failure summer, left the latter stitution before it was taken the state guaranty fund commission. failed with the crash of the State bank. In the warrant, he was formally cused five hundred this At the time the Richfield bank closed, understood that of funds approximately thirty Benter employ bank went to the his parin Burke, and later When County Attorney Collins of his he signed the complaint based. In his plea of guilty before Judge Wheat, he had no comment to make. Sheriff Olderog of this county to Papillion at today from Omaha where he took him custody from the sheriff at Schuy-