Beatrice Savings Bank - Beatrice, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: September 1, 1896
Location: Beatrice, Nebraska (40.268, -96.747)

Metadata

Model: gpt-5-mini
Short Digest: 4ddf3556

Response Measures

None

Description

Beatrice Savings Bank (state institution) was carried with the voluntary closing/suspension of the First National Bank of Beatrice on Sept. 1–2, 1896. Articles attribute the failure largely to prevailing financial stringency and successive crop failures; no run is described.

Events (1)

1. September 1, 1896 Suspension

Cause: Local Shock
Cause Details: Carried with voluntary closing of First National Bank; failure attributed to prevailing financial stringency and three successive crop failures.
Newspaper Excerpt: The closing of the bank carries with it the Beatrice Savings Bank, a state institution with a paid up capital of $25,000, and a surplus of $10,000. Its deposits amount to $290,000.
Source: newspapers

Newspaper Articles (2)

1. September 2, 1896 The Morning News Savannah, GA

Article from The Morning News, September 2, 1896

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Article Text

A NEBRASKA BANK CLOSED. No Reason Is Assigned-A Savings Bank Goes With It. Beatrice, Neb., Sept. 1.-The First National Bank, the oldest Institution of the kind in the city, supposed to be one of the strongest in the state, voluntarily closed its doors this afternoon immediately following a meeting of the board of directors. Its closing caused much surprise. The capital stock of the bank is $100,000 and surplus and undivided profits $50,000. It is officered by J. E. Smith, president, and S. C. Smith, cashier, and these gentlemen own over $65,000 of the stock. The liabilities of the bank to depositors is $110,000, and the assests are placed at $250,000. The closing of the bank carries with it the Beatrice Savings Bank, a state institution with a paid up capital of $25,000, and a surplus of $10,000. Its deposits amount to $290,000.

2. September 8, 1896 Twice-A-Week Plain Dealer Cresco, IA

Article from Twice-A-Week Plain Dealer, September 8, 1896

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Article Text

CLOSED ITS DOORS. First National Bank of Beatrice, Neb., Suspends Business, Beatrice, Neb., Sept. 2.-The First national bank, the oldest institution of the kind in the city and supposed to be one of the strongest in the state, voluntarily closed its doors Tuesday afternoon, immediately following a meeting of the board of directors. Its closing caused much surprise. The capital stock of the bank is $100,000, and surplus and undivided profits $50,000. The liability of the bank to depositors is $110,000 and the assets are placed at $250,000. The closing of the bank carries with it the Beatrice savings bank, a state institution, with a paid-up capital of $25,000 and a surplus of $10,000. Its deposits amount to about $290,000. The failure is due to a variety of causes, largely the result of the prevailing financial stringency and three successive crop failures.