12946. Citizens State Bank (Creston, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1931
Location
Creston, Nebraska (41.707, -97.363)

Metadata

Model
gpt-5-mini
Short Digest
cc6842a0

Response Measures

None

Description

Multiple contemporary articles (June 1–2, 1931) report the state banking department (Governor Bryan) announced the suspension/closing of the Citizens State Bank at Creston at the bank owner's request; a later 1932 article refers to the bank as closed and in liquidation with a receiver. No run or depositor panic is mentioned.

Events (2)
1. June 1, 1931 Suspension
Cause
Government Action
Cause Details
Owner/manager F. Rabeler asked the state department to take charge; Governor Bryan announced the state bank suspension/closing.
Newspaper Excerpt
Lincoln. June bank suspensions at Verdigre and Creston were announced today by Governor Bryan. At Creston the closing involved the Citizens State bank whose owner and manager, F. Rabeler, asked the department to take charge.
Source
newspapers
2. December 8, 1932 Receivership
Newspaper Excerpt
the assets of the closed Citizens State bank of Creston ... the bank at the time it was closed for liquidation by the state banking department ... the receiver ... distribution of dividends to depositors' claims. (Dec 8, 1932 article referring to liquidation and receiver.)
Source
newspapers

Newspaper Articles (6)
1. June 1, 1931 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, June 1, 1931

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Article Text

BANKS LINCOLN. June bank suspensions at Verdigre and Creston were announced today by Governor Bryan. At Creston the closing involved the Citizens State bank whose owner and manager, F. Rabeler, asked the department to take charge. This bank, the governor said, was sold by the officer and stockholders to Rabeler about two months ago. Charges Trickery Bryan said Rabeler charged that the bank was misrepresentto him. It carried deposits of $185,000, the governor said. The Verdigre State bank? Bryan said, had deposits in February of $262,000, but these had dropped to about $174,000. BOY AND GUN GRAND ISLAND Neb., June Campbell, 15 year old son of Mr. and Mrs. Ralph Campbell was accidentally shot and wounded fatally Saturday afternoon. He died while en route to Grand Island hospital. The Campbells live on farm about eight miles northeast of here. bullet from .22 caliber rifle entered the youth's chest below his lungs. The gun discharged accidentally while he was bending over its muzzle,

2. June 1, 1931 Norfolk Daily News Norfolk, NE
Article from Norfolk Daily News, June 1, 1931

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Article Text

Verdigre Bank Quits Business Verdigre, Neb., June The News: The Verdigre State bank of this city, which had been in more than years, failed to open doors this morning. Mr. Hartwell of the department of trade and commerce, Lincoln, who has been in charge of the failed Niobrara bank, arrived here this morning has taken charge of the institution's affairs. The bank considered one the strongest this section of braska. Kouva is president, and his son, Kouva, is cashier. Creston Bank Closes Lincoln, June bank suspensions at Verdigre and Creston were announced today by Governor Bryan. At Creston the closing involved the Citizens State bank whose ownand manager Rabeler asked the department take charge. This bank, the governor said, was by the officers stockholders to Rabeler about two months ago. Bryan said, Rabeler charged that the bank was to him. carried deposits of the said. Examiner Virgil in charge. The Verdigre State bank, Bryan, had deposits February $262,000. but these had dropped about $174,000.

3. June 1, 1931 North Platte Daily Telegraph North Platte, NE
Article from North Platte Daily Telegraph, June 1, 1931

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Article Text

VERDIGRE AND CRESTON BANKS IN STATE Lincoln, June bank suspensions at Verdigre Creston were announced today by Governor Bryan. At Creston the closing involved the Citizens State bank owner and manager, F. asked the department to take charge. This bank, the governor said, was sold by the officer and stockholders to Rabeler about Bryan said, Rabeler charged tht the bank was misrepresented to him. It carried deposits the governor The Verdigre state bank, Bryan said, had deposits in February months

4. June 2, 1931 The Grand Island Independent Grand Island, NE
Article from The Grand Island Independent, June 2, 1931

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Article Text

TWO STATE BANKS SUSPEND BUSINESS Lincoln, June (AP)-State bank suspensions at Verdigre and Creston were announced Monday by Governor Bryan. At Creston the closing involved the Citizen's State bank whose owner and manager, F. Rabeler asked the department to take charge. This bank, the governor said, was sold by the officers and stockholers to Rabeler about two months ago. Bryan said, Rabeler charged that the bank was misrepresented to him. It carried deposits of $185,000, the governor said. Examiner Virgil Lee is in charge. The Verdigre State bank, Bryan said, had deposits in February of $262,000, but these had dropped to about $174,000. C. R. Haines is the examiner in charge. Three members of one family, A. V. Kouba, R. E. Kouba and I. E. Kouba, were its officers.

5. June 2, 1931 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, June 2, 1931

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Article Text

Banks Are Closed, Creston, Verdigre Lincoln, June bank suspensions at Verdigre and Creston announced today by Governor Bryan. At Creston the closing involved the Citizens State bank whose owner and manager, F. Rabeler, asked the department take charge. This bank. governor said, was sold by the officer stockholders to Rabeler about two months Bryan said, Rabeler charged the bank was misrepresented him. It carried deposits of 185 thoudollars. The Verdigre State bank, Bryan said, had February of 262 dollars. but these dropped about thousand dolThree members of one family, Kouba, Kouba and Kouba, were its officers.

6. December 8, 1932 The Colfax County Press and the Clarkson Herald Consolidated Clarkson, NE
Article from The Colfax County Press and the Clarkson Herald Consolidated, December 8, 1932

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Article Text

CRESTON CEMETERY ASSOCIATION WILL RECEIVE ITS FUND Judge Holds Deposit in Closed Bank for Care of Graves is Trust Under a ruling of Judge Lightly inspected and to pork always,' ner in district court, the Creston the health director said. Fairview Cemetery association receive in full from the assets of the closed Citizens State bank of Creston the association's fund of $1,327.5 for perpetual care of KC lots in the cemetery-a fund which was on deposit in the bank at the time it was closed for liquidation by the state banking department. BAKING Judge Lightner has granted the association's application that the POWDER fund be declared a trust fund. This makes it a preferred claim to be paid in full by the receiver, inSAME PRICE stead of on a pro-rata basis with the depositors' claims. today The case is said to be the only AS 42 YEARS AGO one of its kind in the annals of Nebraska courts. 25 ounces for25 Prior to the time the application for designating it as a trust ECONOMICAL fund filed on behalf of the and EFFICIENT cemetery association by Attorney Use only half as much Otto F. Walter, the fund has been as is required of some classed as an ordinary deposit and others the association had been paid $331.88 of it by the receiver in disMILLIONS OF POUNDS USED tribution of dividends to depos- BY OUR GOVERNMENT