Bank of Eagle - Eagle, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 1, 1929*
Location: Eagle, Nebraska (40.817, -96.430)

Metadata

Model: gpt-5-mini
Short Digest: fbd0349e

Response Measures

None

Description

Article (The Ledger, 1930-02-13) reports the Bank of Eagle had been closed nearly four months and opened its doors for business Saturday morning under new ownership. I infer the reopening date as 1930-02-08 (Saturday before publication). The suspension date is estimated ~1929-10-00 (about four months earlier). Cause of suspension inferred as bank-specific failure/insolvency (bad and doubtful assets) rather than a depositor run; no run is mentioned.

Events (2)

1. October 1, 1929* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Described as a 'failed state bank'; bad and doubtful assets removed; required rehabilitation under new law.
Newspaper Excerpt: after being closed for nearly four months.
Source: newspapers

2. February 8, 1930 Reopening

Newspaper Excerpt: opened its doors for business Saturday morning, after being closed for nearly four months. It is now under new ownership and management, its capital stock ... have been fully resubscribed in cash, and all bad and doubtful assets have been removed.
Source: newspapers

Newspaper Articles (1)

1. February 13, 1930 The Ledger Hemingford, NE

Article from The Ledger, February 13, 1930

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Article Text

FAILED NEBRASKA BANKS RE-OPEN Twenty-fourth In State to Be Recognized Under New Law. The rehabilitated Bank of Eagle in the Cass county village of that name, 15 miles east of Lincoln, opened its doors for business Saturday morning, after being closed for nearly four months. It is now under new ownership and management, its capital stock of $20,000 and surplus of $5,000 have been fully resubscribed in cash, and all bad and doubtful assets nave been removed. State Bank Commissioner Woods announced that the Eagle institution is entirely cleaned up and that it has a reserve of approximately 50 per cent in cash on hand and credits from other banks. It is the twenty- failed state bank in Nebraska to be put back on its feet within nine months under the new law permitting compromise settlements to be made when depositors holding 85 per cent of all claims consent thereto.