Farmers State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 27, 1920
Location: Dix, Nebraska (41.235, -103.486)

Metadata

Model: gpt-5-mini
Short Digest: e38906c7

Response Measures

None

Description

Article (Albuquerque Morning Journal, 1920-05-28) reports the State Department of Trade and Commerce took over and closed the Farmers' State Bank at Dix, Neb., citing poor management and long unliquidated receivables. No run is mentioned; closure appears to be government takeover/insolvency-related.

Events (2)

1. May 27, 1920 Receivership

Newspaper Excerpt: Secretary J. E. Hart of the state department of trade and commerce announced ... the department mad taken over the Farmers' State bank at Dix, Neb.
Source: newspapers

2. May 27, 1920 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure attributed to lack of experience in management and inability to realize on assets due to long-time, unliquidated bills receivable.
Newspaper Excerpt: the department mad taken over the Farmers' State bank at Dix, Neb. The bank has been closed.
Source: newspapers

Newspaper Articles (1)

1. May 28, 1920 Albuquerque Morning Journal Albuquerque, NM

Article from Albuquerque Morning Journal, May 28, 1920

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Article Text

STATE BANK AT DIX, NEB., CLOSES DOORS Lincoln, Neb., May 27.-Secretary J. E. Hart of the state department of trade and commerce announced today the department mad taken over the Farmers' State bank at Dix, Neb. The bank has been closed. "The failure," said a statement by Secretary Hart, "is attributed to lack of experience in management and inability to realize on the bank's assets on account of bills receivable being long time and unliquidated paper." He added that unless some arrangements could be made to relieve the situation, a receiver would be asked,