Central City National Bank - Central City, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 8385
Charter Number: 8385
Start Date: March 1, 1933*
Location: Central City, Nebraska (41.116, -98.002)

Metadata

Model: gpt-5-mini
Short Digest: 320217cc

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1933-11-01
Date receivership terminated: 1937-07-31
Share of assets assessed as good: 72.9%
Share of assets assessed as doubtful: 26.4%
Share of assets assessed as worthless: 0.7%

Description

The bank was closed by presidential order in March 1933 (national bank holiday) and later declared insolvent with a receiver assigned in early November 1933. OCR errors in Article 1 corrected (e.g., 'CenCity' -> Central City; 'vember' -> November). No run or depositor panic is described in the articles.

Events (4)

1. October 2, 1906 Chartered

Source: historical_nic

2. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed by presidential order in March 1933 (federal banking holiday / government-directed closure)
Newspaper Excerpt: Despite general local belief in early of the CenCity National bank, closed by presidential order in March
Source: newspapers

3. November 1, 1933 Receivership

Source: historical_nic

4. November 9, 1933 Receivership

Newspaper Excerpt: Hall of Greenwood, Nebr. was assigned ... receiver, and came Saturday of last week. The institution will be formally turned over to Hall by Conserv... The controller reported ... the Central City National Bank of Central City, Nebr., with $98,000 in deposits.
Source: newspapers

Newspaper Articles (3)

1. November 9, 1933 Central City Nonpareil Central City, NE

Article from Central City Nonpareil, November 9, 1933

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Article Text

BANK RECEIVERSHIP COMES AS SUPRISE Central City National Will Be Closed Out by Hall of Greenwood, Nebr. Despite general local belief in early of the CenCity National bank, closed by presidential order in March, the federal government ordered early this month. Hall of Greenwood, former president the Nebraska Bankassociation, was assigned vember receiver, and came Saturday of last week. The stitution will be formally turned over to Hall by ConservCarns, under whose rection been collecting and operating with restrictions. Local hopes were raised some weeks ago when an Associated Press dispatch named the Central City National one four insti-

2. November 14, 1933 Evening Star Washington, DC

Article from Evening Star, November 14, 1933

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Article Text

$16,084,000 RESTORED IN BANK REOPENING Thirteen National Institutions Red ported Again in Operation This Month. By the Associated Press. The opening of 13 national banks during the first 10 days of November was announced by J. F. T. O'Connor yesterday to have restored $16,084,000 in deposits. During the same period, six national banks had their reorganization plans approved by the Treasury, involving $2,825,000 in deposits. The controller reported that two banks with approved reorganization plans have been declared insolvent and receivers appointed. These were the Jefferson County National Bank of Brookville, Pa., with $1,507,000 of deposits, and the Central City National Bank of Central City, Nebr., with $98,000 in deposits.

3. July 12, 1934 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, July 12, 1934

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Article Text

PHIL HALL OUT CONGRESS Post As Federal Bank Receiver Prevents Candidacy. Phil Hall, former Greenwood banker and receiver for the Central City National bank, Thursday withfor the demodistrict federal bared his canddiacy Hall said letter to Seretary of State Swanson The comptroller the Washington recently issued that employes that federal cannot public Hall explained. for the nomination the second definitely withdrew from that race Thursday after keeping weeks tactics He closed the candidacy letter to the secretary state Bartling ticket. former who Thursday that close the voting