Mangold & Glandt Bank - Bennington, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 2, 1925
Location: Bennington, Nebraska (41.365, -96.158)

Metadata

Model: gpt-5-mini
Short Digest: a2330b69

Response Measures

None

Description

The article reports the bank was closed by the state on May 2, 1925 and operated by the guarantee fund commission until a receiver was to be named for final liquidation (article dated 1928-02-07). No run or depositor panic is mentioned. Bank type not specified in the text.

Events (2)

1. May 2, 1925 Suspension

Cause: Government Action
Cause Details: Closed by the state on May 2, 1925 and placed under operation of the guarantee fund commission.
Newspaper Excerpt: The bank was closed by the state on May 2, 1925, since which time it has been operated by the commission.
Source: newspapers

2. February 7, 1928 Receivership

Newspaper Excerpt: Secretary Peterson of the guarantee fund commission Monday announced the closing of the Mangold & Glandt bank at Bennington for the purpose of final liquidation through receivership. ... R. O. Brownell, Schuyler, member of the commission, will be appointed receiver for the bank and its affairs will be fully liquidated.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1928 The Omaha Evening Bee-News Omaha, NE

Article from The Omaha Evening Bee-News, February 7, 1928

Click image to open full size in new tab

Article Text

BANK CLOSED Receiver to Be Named for Bennington Institution. Secretary Peterson of the guarantee fund commission Monday announced the closing of the Mangold & Glandt bank at Bennington for the purpose of final liquidation through receivership. The bank was closed by the state on May 2, 1925, since which time it has been operated by the commission. At that time It had deposits of $259,242. During the time of operation the deposits have been reduced to $113,700. R. O. Brownell, Schuyler, member of the commission, will be appointed receiver for the bank and its affairs will be fully liquidated. The ultimate loss to the guaranty fund is expected to be around $65,000. The commission is also liquidating the Bennington State bank.