12086. American State Bank (Scottsbluff, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
July 16, 1927
Location
Scottsbluff, Nebraska (41.867, -103.667)

Metadata

Model
gpt-5-mini
Short Digest
f428f300c21fbf64

Response Measures

None

Description

Contemporary articles (July 1927) report a heavy run triggered by rumors, followed within days by closure and takeover by the state guaranty fund. Closure/receivership appears permanent or at least under consideration for liquidation. Dates inferred from newspaper publication dates: run Saturday (16 July 1927) and closure/takeover Monday (18 July 1927). OCR corrected minor typos (e.g., 'Seottsbluffs' → 'Scottsbluff').

Events (3)
1. July 16, 1927 Run
Cause
Rumor Or Misinformation
Cause Details
Newspaper headline and text explicitly state rumors of difficulty precipitated a heavy run on the bank the prior Saturday.
Newspaper Excerpt
RUMORS OF DIFFICULTY RESULT IN RUN ON BANK
Source
newspapers
2. July 18, 1927 Receivership
Newspaper Excerpt
taken over by the state guaranty fund; the Guarantee Fund Commission has not decided as to whether or not it will run the bank preferring to let a receiver be appointed and liquidate it that way.
Source
newspapers
3. July 18, 1927 Suspension
Cause
Government Action
Cause Details
Bank closed and was taken over by the state guaranty fund / state examiners; closure followed the run and involved state intervention.
Newspaper Excerpt
The American State Bank of Scottsbluff was closed Monday morning following rather heavy run Saturday which cut down its available cash resources.
Source
newspapers

Newspaper Articles (3)
1. July 19, 1927 Norfolk Daily News Norfolk, NE
Article from Norfolk Daily News, July 19, 1927

Click image to open full size in new tab

Article Text

Scottsbluff. American State bank, the largest institutions western Nebraska, doors yesterday morning, taken over the state guaranty fund bank was organized in 1920 Wildy, formerly owner First National bank Hemingford, and Wildy, banker this Deposits totaled $895,221 and loans and discounts amounted shown by its statement June 30. It was capitalized In financial circles the failure the bank was ficient to effect seriously are three other strong in the valley, including the Platte State bank, one the biggest in Nebras-

2. July 22, 1927 The Gering Courier Gering, NE
Article from The Gering Courier, July 22, 1927

Click image to open full size in new tab

Article Text

BANK CLOSED RUMORS OF DIFFICULTY RESULT IN RUN ON BANK Organized in Scottsbluff About Eight Years and Had $900,000 Deposits Last Report The American State Bank of Scottsbluff was closed Monday morning following rather heavy run Saturday which cut down its available cash resources. The institution showed its last published statement loans the extent of more than one million dollars. Depositors are protected the state guaranty law, and while the closing of the bank cannot fail to serious, not believed that affect general business unusual manner, although mere suspension banking institution in communhas no good effects. Whether will be after state examiners over the situation to reorganize some other method reopen matter of speculation. Officers the bank are Wildy, president; Clinton Wildy. cashier: and Morrison. Wildy and Jens Peterdirectors. Other banks Scottsbluff and surrounding cities extending every assistance possible the closed and depositors general inconvenience beevery mitigated as far as possible. Lyman, brother of Chas. of this city and W. H. Lyman arrived here yesterday from New York for less tended visit. Mr. Lyman has been for the head of the Stanmany years dard Oil interests at Shanghai, China, but retired from the position July visiting Fargo, and will join him here later. Mr. Lyman has visited here before.

3. July 22, 1927 The Petersburg Index Petersburg, NE
Article from The Petersburg Index, July 22, 1927

Click image to open full size in new tab

Article Text

Over the State A new Lutheran hospital is to be erected in Fremont. The land for the site has been donated and the money is ready for the erection of one of the largest hospitals in the city. It will benear the site of the Lutheran Home Finding Association. The American State of Seottsbluffs, was taken over by the state a few days ago. This is one of the largest institutions in the west, having deposits of about a million dollars. The loss seems to be S) heavy that the Guarantee Fund Commission has not decided as to whether or not it will run the bank preferring to let a receiver be appointed and liquidate it that way. A Bridgeport report is h a t Frank McCannis has built a pen on the side of his car and in it is kept a goat to supply milk for the family while on their vacation. This may makr a new demand for goats Kamensky may yet reap a harvest. The Dalton Co-operative Society which features wheat as its staple trading stock has paid a dividend of 00 to its share holders out of a net earning of over $29,000.