Farwell State Bank - Farwell, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 27, 1932
Location: Farwell, Nebraska (41.216, -98.628)

Metadata

Model: gpt-5-mini
Short Digest: c0005dde

Response Measures

None

Description

Article (The Dannebrog News, 1932-10-27) states the Farwell State Bank suspended operations and was turned over to the state banking department for liquidation. No run is mentioned. Cause of suspension is regulatory action prompted by a multi-year shrinkage of deposits.

Events (2)

1. October 27, 1932 Receivership

Newspaper Excerpt: being turned over to the state banking department for liquidation
Source: newspapers

2. October 27, 1932 Suspension

Cause: Government Action
Cause Details: Shrink in deposits over four years necessitated suspension; bank turned over to state banking department for liquidation.
Newspaper Excerpt: The Farwell State Bank suspended operation and being turned over to the state banking department for liquidation, it was announced Monday by officials of the institution.
Source: newspapers

Newspaper Articles (1)

1. October 27, 1932 The Dannebrog News Dannebrog, NE

Article from The Dannebrog News, October 27, 1932

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Article Text

FARWELL STATE BANK SUSPENDS BUSINESS The Farwell State Bank suspended operation and being turned over to the state banking department for liquidation, it was announced Monday by officials of the institution. shrink in deposits, from four years ago,to the time of closing, made the move necessary, It was explained and result Farwell is without Officers believe tion can be accomplished without loss, stated. Wichman is president, Savitka is cashier, and the other principal stockholders are Taylor and Alex Borzych.