13004. Elba State Bank (Elba, NE)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 20, 1931
Location
Elba, Nebraska (41.286, -98.568)

Metadata

Model
gpt-5-mini
Short Digest
fa96cab9

Response Measures

None

Description

OCR errors corrected. Articles (Apr 19, 1932) report the Elba State Bank had been reorganized and recapitalized and reopened after having suspended business in November 1931. Suspension date inferred from text referencing November 1931; no run is mentioned in the articles.

Events (2)
1. November 20, 1931 Suspension
Cause Details
Bank suspended in November 1931 and subsequently reorganized and recapitalized by stockholders; specific cause not stated in articles.
Newspaper Excerpt
The bank business November ... the institution was capitalized and placed in thoroughly solvent condition
Source
newspapers
2. April 19, 1932 Reopening
Newspaper Excerpt
The Elba State bank, Elba, reorganized, recapitalized and made by stockholders, reopened for business Tuesday ... Luikart ... announced the organization and the reopening of the Elba State Elba. Upon reopening the bank had capital stock of $10,000; surplus, $2,500; deposits of $33,000 ... plan contemplates ultimate payment in full to all depositors.
Source
newspapers

Newspaper Articles (2)
1. April 19, 1932 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, April 19, 1932

Click image to open full size in new tab

Article Text

BANK Final Dividends Paid Depositors at Cornlea, Thurston. The Elba State bank, Elba, reorganized, recapitalized and made by stockholders, reopened for business Tuesday according to by the department of trade and The bank 20, 1931. The plan contemplates payment of depositors capital stock $10,000, surplus deposits $33,000 cash from banks officers Bertel Leth, president; Anton Spilinek, vice president and J. Sumovich, final dividend of 2.2 percent, $3,003.92, has been paid to depositors the failed Cornlea State bank. total payment percent, amountto $13,926.82. final dividend from assets of percent, amounting $3,has paid depositors the Liberty State Thurston, making total of 12.7 percent

2. April 19, 1932 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, April 19, 1932

Click image to open full size in new tab

Article Text

SUSPENDED LINCOLN, 19 state department of trade and today announced the organization and the reopening of the Elba State Elba. The bank business November Luikart, department secretary, said the institution was capitalized and placed in thoroughly solvent condition the stockholders. The plan reorganization. he said, contemplates ultimate payment in full to all depositors. Upon reopening. the bank had capital stock of $10,000; surplus, $2,500; deposits of $33,000, and of $12,000 due from other banks. Luikart also announced the pay ment of in dividends to failed state banks positors A payment of $$3,404, or nearly went to the depositors per the Liberty State bank Thurston, and the other $3,000. nearly per cent. went to the Cornlea state bank of Cornlea.