12268. First National Bank (Wynot, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8335
Charter Number
8335
Start Date
December 24, 1927
Location
Wynot, Nebraska (42.740, -97.169)

Metadata

Model
gpt-5-mini
Short Digest
3486ed74652a3c50

Response Measures

None

Receivership Details

Depositor recovery rate
63.9%
Date receivership started
1927-12-27
Date receivership terminated
1930-10-16
Share of assets assessed as good
38.2%
Share of assets assessed as doubtful
55.8%
Share of assets assessed as worthless
6.0%

Description

The First National Bank of Wynot closed its doors on Dec. 24, 1927 after the board adopted liquidation; a receiver was appointed and the bank remained closed permanently (receivership and liquidation with dividend payments through 1930). No clear contemporaneous run is described — closure appears to be a board-ordered liquidation rather than a panic-driven run.

Events (7)

1. August 17, 1906 Chartered
Source
historical_nic
2. December 24, 1927 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors adopted liquidation and decided to close the bank; officers decided to liquidate business following examination; closure announced in local paper.
Newspaper Excerpt
The First National bank closed its doors December 24, 1927.
Source
newspapers
3. December 27, 1927 Receivership
Source
historical_nic
4. December 29, 1927 Receivership
Newspaper Excerpt
Robert Brown ... examiner of this district ... reached Bange ... and took charge immediately. Cronkleton, national bank receiver for this district, ... expected to ... take his statement on his return. / Geo. D. Cronkelton was placed in charge as receiver for some time and later W. H. Allen was sent here to close up the affairs of the bank. (articles, Dec 1927 and 1928).  (Note: receiver activity reported immediately after closing, and Cronkleton and later W. H. Allen served as receivers.) 
Source
newspapers
5. January 1, 1930* Other
Newspaper Excerpt
Receiver W. H. Allen ... turning over the First National bank building to Franz Meirose, who recently purchased the same. Mr. Meirose is now in possession of the building. (Jan. 30, 1930).
Source
newspapers
6. September 29, 1930 Other
Newspaper Excerpt
Checks for the final dividend of 18.9 per cent to the depositors of the First National bank of Wynot are now in the hands of W. H. Allen, receiver ... the receiver will be at the Farmers State bank in Wynot on Monday and Tuesday, September 29th and 30th, and will deliver them in person to you if you so desire. The First National bank closed its doors December 24, 1927. (Sept. 25, 1930). 
Source
newspapers
7. April 30, 1931 Other
Newspaper Excerpt
Defunct institution hauled out books records ... and the stuff made a tremendous fire ... Finis written the doorway over First Bank Wynot last Thursday ... First National closed and appointed receiver ... (Apr. 30, 1931).
Source
newspapers

Newspaper Articles (5)

Article from Cedar County News, December 29, 1927

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Article Text

WYNOT BANK CLOSES DOORS SATURDAY DEPOSITORS 'WILL NOT LOSE A PENNY, ACCORDING TO PRES. F. ARENS A big Christmas re-union the home Casper Pshang, West Point was spoiled Sunday when the big Buick owned Goeden, north of Fordyce wrecked about Wayne, Mr. Goeden and the family escaping with bruises. damaged had to be Wayne Mr. and were on their way the home her parents Point where all looking forward happy the folks were anticipating pleasant visit. Mist frozen the windshield the view the big low railing small bridge, the impact being enough swerve ditch where finally collided with telephone before being stopped. The family went on into Wayne where immediate repairs could not secured was holiday. Not will be lost penny George Kast drove down from Fordepositors the Wynot First dyce the Goeden family National bank, which back home. were not opened for business Saturday following the TIRE DISAPPEARS adoption the board directors on Friday eve- CHRISTMAS MORNING ning to liqudate the business. This the statement made by Between the close of midnight Arens, widely known farmmass Christmas eve and 3:00 who has been president of the the heaviest Christmas morning, someone stole bank tire car standing stockholders for years. front the Joseph Bange home bank was organized Hartington while family 1906 with capital $25,000. were enjoying Christmas For number of years tree and party. The tire under the the when Kindwall cashier. He retired of the family from from the bank several years mass, but later the following the deflation period. He when Mr. and Alfred Lee was indicted by the grand returning their jury Omaha for violation the Friends are the banking laws but followthe audacious ing the filing of thief who could steal while been brot to trial. watching Christmas party. Miller, long connected with belonged to the bank to the the Brown of Lincoln cashiership. holding position who visiting at the home until few months ago when Mrs. Hartington the banks Joseph Bange. Crofton, was elected to the posiFor several months strenuous by officers and stockholders get the bank back into its old time position this task seemed pissible. While there was no usual reason for the closing the With roads and weather ideal, bank at this time officers day proved to be time merely decided that was for fumilies under waste effort try and develop enjoy day together. bank into Theresa Kaska was would pay profits to the stockMiss Grace Boyd for Christholders. Under circumSunday. stances there nothing but the Bixby family enterAt time the last statement tained the Rev. Louis Hieb family the issued were about dinner last Monday. but that Mr. and Mrs. Lammers they considerably less than Paul Morris of Carroll emount when the institution Christmas closed. Robert Brown of family Fraser of Norfolk, bank spent Joseph examiner of this district, reached Bange Mr. Mrs. Alfred and Wynot last Saturday and took charge immediately. WednesMr. Mrs. Merle Edwards day evening Mr. Fraser had checkJunior pleased over the bank records and the ready to make his report George Sebright Christmas day. Cronkleton, national bank Mr and Mrs. Leonard Lively ceiver for this district, who had Christpected to statement his Guy Poter and He has been the of Spring western part of the state over Henry Hoese had Christmas. Messrs Fraser and guests for Christmas their son Schaff went Norfolk this Peter and family, who morning him immedispending winter here. ately on his return. ENERSON ILL Police Judge Otto Enerson confined several days this week following operation. ter. Miss Julia Brown helped the telephone office during absence.


Article from The Wynot Tribune, July 26, 1928

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Article Text

FILE YOUR CLAIMS AGAINST THE BANK. George G. Cronkleton, the receiver of the First National bank of Wynot states that he has noticed that a very large number of depositors and creditors of the bank have not made legal proof of their claims against the failed bank. The receiver states that no creditor can draw a dividend unless he has made legal proof of his claim against the trust. The way the matter stands now is that if a divIdend is declared there will be a very large number of creditors who will not receive anything on their claims. The object and purpose of the receivership is to distribute the collections on assets rateably among the creditors, but if they fail or neglect to file such claims, no one can be blamed if they fail to receive their just proportion of the liquidation of the banks assets. The time set for filing claims is past. but the receiver states that he will extend the time for a short period in order to allow those who have not filed to do so at once. If those who have not filed will do so within the next thirty days the receiver states that he will accept their claims. If your claim is not filed within that time you can blame nobody but yourself if you do not receive dividends. Positively no dividend will be paid those who do not file. It is to your interest to file your claim at once. Due legal notice has been given and it is up to the creditors to file if they want their share in the dividends. The receiver hopes that he will not have to call this important matter to public attention again.


Article from The Wynot Tribune, January 30, 1930

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Article Text

RECEIVER ALLEN TURNS OVER FIRST NATIONAL BANK BLDG. Receiver W. H. Allen was in Wynot Tuesday afternoon and attended to the details prior to turning over the First National bank building to Franz Meirose, who recently purchased the same. Mr. Meirose is now in possession of the building. Just what disposition will be made of the building, Mr. Meirose is not prepared to say just now. It is an exceptionally good location and many have suggested that it would make a most excellent place for the postoffice and bring it to a more central location.


Article from The Wynot Tribune, September 25, 1930

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Article Text

FIRST NATIONAL TO PAY FINAL DIVIDEND Receiver's Checks Will Be Available Here Monday and Tuesday. Checks for the final dividend of 18.9 per cent to the depositors of the First National bank of Wynot are now in the hands of W. H. Allen, receiver for delivery in his office at the Hartington National bank at Hartington, or the receiver will be at the Farmers State bank in Wvnot on Monday and Tuesday, September 29th and 30th, and will deliver them in person to you if you so desire. The receiver's certificates must be surrendered upon receipt of this final dividend. Bring your receiver's certificates with you. or mail them to the receiver at Hartington. Remember, that all checks not called for on or before October 15th, 1930, will be returned to the comptroller of the currency at Washington, D. C., and it will take an endless amount of red tape and delay to secure your check after that time. The First National bank closed its doors December 24, 1927. The posits amounted to about $100,000, about $30,000 demand deposits and the balance time certificates and savings deposits. With the final payment of the 18.9 per cent the depositors will have received a total of almost 74 per cent or over $70,000. After the closing of the bank Geo. D. Cronkelton was placed in charge as receiver for some time and later W. H. Allen was sent here to close up the affairs of the bank. An invoice and estimate of the assets made by Mr. Cronkelton disclosed a very discouraging condition and at that time feared that less than 50 per cent would be realized by the depositors. However, Mr. Allen, with the earnest co-operation of J. F. Arens, F. W. Arens, J. F. Hochstein and other officers and directors. was able to make some collections that had been considered doubtful, these stockholders even making personal sacrifices that the law did not require in order to assure the depositors every cent possible of their money. In closing up the affairs of the bank, Receiver Allen is high in his praise of the honor and strict integrity of the Arens families and Mr. Hochstein and their wonderful loyalty in making every sacrifice in order to protect the depositors who had placed their money in this trust. As all of the assets of the bank have been disposed of, the giving out of these dividend checks marks the finish of the chapter as regards the defunct First National bank of Wynot. Mr. Allen, who is also receiver of the failed Hartington National bank, will continue to reside in Hartington until this_ bank's affairs are wound up.


Article from The Hartington Herald, April 30, 1931

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Article Text

Finis Written the Door. over First National Wynot Finis written the over doorway First Bank Wynot last Thursday the that defunct institution hauled out dumping ground burned. books records stored National Bank time cluded daily cash journal, letter files; draft register, Earl Pickett hauled once flourishing banking house their truck loads, and Anthony Hirschman Pollock officiated the The stuff made tremendfire and some smoke sparks ascended spirits departed officdepositors near scene. First National closed and appointed receiver. several the assets were sold years and the bonfire closes chapter. Geo. Cronkelton, charge certify the books records to Allen, receiver