12844. Nebraska State Bank (Bridgeport, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1929*
Location
Bridgeport, Nebraska (41.665, -103.099)

Metadata

Model
gpt-5-mini
Short Digest
14826f9c

Response Measures

None

Description

The bank is described as 'failed' and 'in the hands [of a] receiver' and dividends are being paid to depositors (Oct 24, 1929). Subsequent article (Nov 21, 1929) describes prosecutions of bank officers after an audit uncovered shortages. No run is mentioned. Classification: suspension leading to permanent closure with receiver handling assets.

Events (3)

1. January 1, 1929* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed/insolvent after audit uncovered shortages and alleged false returns; evidence of mismanagement/shortage (~$15,000) leading to failure.
Newspaper Excerpt
the defunct Nebraska State Bank Bridgeport, that been in the hands receiver ... since the bank failed.
Source
newspapers
2. October 24, 1929 Receivership
Newspaper Excerpt
Depositors in the defunct Nebraska State Bank Bridgeport ... last week ... checks from the banking department, for 20 per cent of their remaining deposits ... This the third payment to depositors ... making total of 45 percent of their deposits that have been paid since the bank failed.
Source
newspapers
3. November 21, 1929 Other
Newspaper Excerpt
Bert Spearman and Robert Wilson charged with having made false turns to the state banking while connected with the Nebraska State bank at Bridgeport, now defunct ... evidence uncovered through an audit ... Spearman was cashier in the failed bank, and Wilson clerk.
Source
newspapers

Newspaper Articles (2)

Article from Bridgeport News-Blade, October 24, 1929

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Article Text

PAYMENT MADE DEPOSITORS Nebraska State Bank ceiver Sends Dividends Depositors in the defunct Nebraska State Bank Bridgeport, that been in the hands receiver for time, last week, in of checks from the banking partment, for 20 per cent of their remaining deposits, 15 cent amounts deposited. The checks accordance order of district court, than month ago, after which ascertainthere enough assets on hand make the payment. This the third payment to deNebraska State bank, making total of 45 percent their that have been since the bank failed. paid At hearing the district court, was ascertained that there yet additional assets of bank, but that there were also disputed claims that made impossible to use this additional amount in the payment of depositors. However, favorable court decisions are secured in some cases now pending, there may yet be another dividend declared by the court. The checks were sent out by the banking department the last known of depositors, and any have not yet received their share of the dividend, they should communicate with the banking department.


Article from The Western Nebraska Observer, November 21, 1929

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Article Text

BRIDGEPORT BANKERS FACING CHARGES. BOUND Bert Spearman and Robert Wilson charged with having made false turns to the state banking while connected with the Nebraska State bank at Bridgeport, now defunct, were bound over under bond district court after hearing Friday Morrill county court at Bridgeport. charge of of approximately $15,000, also brought against them has been dropped, temporarily is but both charges would result in the penalty event of conviction, one to ten years. Both Spearman and Wilson furnishthe amount under which were at liberty pending the hearNeither defendant indroduced any testimony and the evidence of the state principally The started by County Attorney Perry of Bridgeport when evidence uncovered through an audit Tallon. Spearman was cashier in the failed bank, and Wilson clerk.