Citizens State Bank - Clearwater, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 28, 1929
Location: Clearwater, Nebraska (42.170, -98.188)

Metadata

Model: gpt-5-mini
Short Digest: f17f7163

Response Measures

None

Description

Article (Wheeler County Independent, 1929-10-31) reports Citizens State Bank of Clearwater was closed by order of its president (Monday) and the state banking department took charge the following day. Cause given as depleted reserves. No mention of a depositor run or reopening; state bank taken into custody implies permanent closure/receivership.

Events (2)

1. October 28, 1929 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Depleted reserves cited as the cause; president ordered closure after depleted reserves were discovered.
Newspaper Excerpt: The Clizens State Bank of Clearwater was closed Monday on the ordof its president, Hemenway. A meeting of directors was held in the evening, at which time the president's action was confirmed.
Source: newspapers

2. October 29, 1929 Receivership

Newspaper Excerpt: The state banking depatment took charge Tuesday.
Source: newspapers

Newspaper Articles (1)

1. October 31, 1929 Wheeler County Independent Bartlett, NE

Article from Wheeler County Independent, October 31, 1929

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Article Text

COUNTY BANKS IN HANDS OF STATE The Antelope State Bank of Neligh failed iko open its doors for business Saturday morning and its affairs at in the hands of are present the state banking department. Ao+ cording to reports, the closing of this bank followed continual withdrawal of deposits over period of two weeks or more. The Antelope State Bank opened for business several years ago in the building formerly occupied by the Bank. H. Peterson president and Ray Swanson, cashier. It has capital stock of and surplus fund of $10,000. Deamounted to about $500,000 posits at the time of the last statement. It generally believed that the bank was in excellent condition, and that its closing was due to unfounded rumors which caused deposit withdrawals. It charged by some that these rumors were spread with malicious intent énemies of A meeting of depositors will take place this week and plans for reorganization will be discussed at that time. The Clizens State Bank of Clearwater was closed Monday on the ordof its president, Hemenway. A meeting of directors was held in the evening, at which time the president's action was confirmed. The state banking depatment took charge Tuesday. Depleted reserves is given as the cause. Leo Rose is cashier of the Clearwater bank which capitalized at Review.