13119. Farmers State Bank (Hemingford, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
August 29, 1930
Location
Hemingford, Nebraska (42.322, -103.073)

Metadata

Model
gpt-5-mini
Short Digest
b81b21d5

Response Measures

Full suspension

Other: Receiver appointed and bank turned over to state department for liquidation.

Description

Newspapers report heavy withdrawals/withdrawals and eventual suspension/turnover to the Nebraska Dept. of Trade and Commerce and appointment of a receiver. Articles span Aug 1930 to Oct 1931; OCR errors present in some pieces. Cause of depositor activity is described as decreased deposits, low farm prices and crop failures (local agricultural distress) rather than a false rumor.

Events (3)
1. August 29, 1930 Receivership
Newspaper Excerpt
Receiver Appointed For Hemingford Bank... E. H. Luikart ... was appointed Receiver of the Farmers State Bank of Hemingford ... filed his bond and oath qualifying him to enter upon his duties in that office.
Source
newspapers
2. December 9, 1930 Run
Cause
Local Shock
Cause Details
Continued withdrawals tied to decreasing deposits, low farm product prices and crop failures reducing farmer receipts.
Measures
Representatives of local banks met to try to save the institution; appointment of a receiver was expected.
Newspaper Excerpt
After the holiday Monday, the Farmers State Bank at Hemingford failed to open its doors Tuesday morning... Continued withdrawals by depositors caused too strong the however, and it was impossible to open the doors for business Tuesday.
Source
newspapers
3. October 13, 1931 Suspension
Cause
Government Action
Cause Details
Bank was turned over to the Nebraska Dept. of Trade and Commerce for liquidation; examiner placed in charge.
Newspaper Excerpt
Officers of the Farmers' State bank here suspended business today and turned the institution over to the state department of trade and commerce for liquidation.
Source
newspapers

Newspaper Articles (6)
1. August 29, 1930 The Poultney Journal Poultney, VT
Article from The Poultney Journal, August 29, 1930

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Article Text

Receiver Appointed For Hemingford Bank E. H. Luikart. secretary of the department of trade and commerce of the State of Nebraska, was appointed Receiver of the Farmers State Bank of Hemingford by District Judge E. L. Meyer and Tuesday filed his bond and oath qualifying him to enter upon his duties in that office. Luikart's bond is in the sum of $25,000 and has been approved by the court. F. C. Radke, attorney for the department of commerce at Lincoln, filed the bond and oath for Luikart with the district court here. Proceedings for the appointment of a receiver were instituted ere October 24th. The capital stock of the bank was $30,000 and the bond was fixed in accordance with the amount of assets listed in the receivership. A quieting title action was filed in district court yesterday by Frank J. Krejci against Meri Krejci. et al., on land in Box Butte county. Boyd and Metz are handling the case for the plaintiff.

2. December 11, 1930 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, December 11, 1930

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Article Text

FARMERS Now Without Hemingford Bank; Last One Closed Doors Tuesday After the holiday Monday, the FarHeminford failed mers State Bank at its doors Tuesday morning, open and for the first time in many years without bank. Hemigford city at one time supported insitutions. Decreased deposits ing and general business depression over this of the country is given the bank Deas the cause of during the past few months posits are said to have decreased from $200.to $100,000. Representatives of the three AIMbanks met Sunday and Monday ance an effort to save the Institution. Continued withdrawals by depositors caused too strong the however, and it "Impossible open the doors for business Tuesday. 70 liquidation had been per cent affected by the officers recently and expected that when receiver appointed the bank will pay tack good At this season of the year grain and sales usually bring in large deposits but due to the low prices for farm products this year very little has come in. The bank also money Tost through crop failures money tained by farmers this The present officers of the defunct Ellis, and Urbaney sky, cashier. Thee men purchased the bank from Clyde D. Ray and Uhrig who took over the assets of the institution after the closing of the First State Bank here. The Farmers State Bank at Hemingford was time operated in connection with local bank. are being made for appointment Receiver the Department of Trade and Commerce at Lincoln when further liquidation of the assets will be made.

3. December 12, 1930 Bristol Herald Bristol, VT
Article from Bristol Herald, December 12, 1930

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Article Text

FARMERS Now Without Hemingford Bank; Last One Closed Doors Tuesday After the holiday Monday, the FarHeminford failed mers State Bank at its doors Tuesday morning, open and for the first time in many years without bank. Hemigford city at one time supported insitutions. Decreased deposits ing and general business depression over this of the country is given the bank Deas the cause of during the past few months posits are said to have decreased from $200.to $100,000. Representatives of the three AIMbanks met Sunday and Monday ance an effort to save the Institution. Continued withdrawals by depositors caused too strong the however, and it "Impossible open the doors for business Tuesday. 70 liquidation had been per cent affected by the officers recently and expected that when receiver appointed the bank will pay tack good At this season of the year grain and sales usually bring in large deposits but due to the low prices for farm products this year very little has come in. The bank also money Tost through crop failures money tained by farmers this The present officers of the defunct Ellis, and Urbaney sky, cashier. Thee men purchased the bank from Clyde D. Ray and Uhrig who took over the assets of the institution after the closing of the First State Bank here. The Farmers State Bank at Hemingford was time operated in connection with local bank. are being made for appointment Receiver the Department of Trade and Commerce at Lincoln when further liquidation of the assets will be made.

4. December 12, 1930 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, December 12, 1930

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Article Text

Receiver Appointed For Hemingford Bank E. H. Luikart. secretary of the department of trade and commerce of the State of Nebraska, was appointed Receiver of the Farmers State Bank of Hemingford by District Judge E. L. Meyer and Tuesday filed his bond and oath qualifying him to enter upon his duties in that office. Luikart's bond is in the sum of $25,000 and has been approved by the court. F. C. Radke, attorney for the department of commerce at Lincoln, filed the bond and oath for Luikart with the district court here. Proceedings for the appointment of a receiver were instituted ere October 24th. The capital stock of the bank was $30,000 and the bond was fixed in accordance with the amount of assets listed in the receivership. A quieting title action was filed in district court yesterday by Frank J. Krejci against Meri Krejci. et al., on land in Box Butte county. Boyd and Metz are handling the case for the plaintiff.

5. October 13, 1931 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, October 13, 1931

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Article Text

FOUR STATE BANKS SUSPEND SPRINGFIELD. Neb., Oct. 13 Upon the voluntary action its officers. the American state bank here was turned over today to the state department of trade and for liquidation. J. F. McLain ,examiner, was placed in charge. Deposits were about $190,000. At Holstein HOLSTEIN, Neb., Oct. 13 (P)The First State bank of Holstein was turned over to the state department of trade and commerce today for liquidation. Capital stock was $25,000; surplus $2,500, and deposits about $90,000. Close At Orleans ORLEANS, Neb., Oct. 13 (P)The State bank of Orleans was closed today for liquidation. C. H. Wear was president: M. E. Wear, cashier. The bank was capitalized for $25,000; had surplus of $5,000, and deposits of about $160,000. Hemingford Failure HEMINGFORD, Neb., Oct. 13 LP)-Officers of the Farmers' State bank here suspended business today and turned the institution over to the state department of trade and commerce for liquidation Caapital stock was $30,000 surplus $2,500. and deposits, $200,000.

6. October 16, 1931 The Alliance Times-Herald Alliance, NE
Article from The Alliance Times-Herald, October 16, 1931

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Article Text

Business On Monday the Farmers State Bank at Hemingford closed and on Tuesday the three Alliance banks witnessed substantial increase in This deposits. sensible and splendid attitude on the part of the people of Box Butte not that Alliance banks anxious profit by the misfortune of the bank: Not at all. that bank and the of will be increasingly as time apparent But the confidence deposits in the Alliance banks that the people of this vicinity have brains and capable using them. The three Alliance banks are in excellent condition. money from such and hiding away private places, in curities, and using the postal can classed your nose to spite your Money in the banks supplies the motive power that keeps business moving in the city and on the farms. there tendency withdraw money and hide away. you are contributing to your employment without money the business and farmers can't carry Business has started definitely on the long trek back Prices butterfat, eggs and poultry are higher than they were year ago, and some the surpluses in other things been reduced, these prices will climb. No can forever. They all end some time. Business come back with blare trumpets parade, will back gradually and fast people Alliance has always enjoyed prosperous business. Real estate values have steady for more than years. The city is founded on substantial footIt will continue just long the people follow and attitude their home town. Just simple word expresses the formula for continued Without this town With no town can lose. But individual attribute and not some- Over 50 Planes And thing that be bought in sack. These show lack of confi- An Autogiro To dence and the part of the Here your your and the value you When Airplanes galore. Small, large and somebody comes up with that best the and varied types of the interests of Alliancecraft will be Alliand and ask him what he means. October 25 for the Take issue with him do in no uncertain terms. Air Tour being made You wouldn't let anybody get with whispering the state. The flock planes campaign against your family your like huge don't let them away with one against your town of birds will reach Alliyour investment here. ance and remain for These days courage, not for cowardice. the rest the day. Stand and fight for your town as would for Among the aerial fleet which will your home. the future the town depends the contain planes future your investment. want one the autogiros which take chiseled away little time propaganda that and land you know false, but that will do more harm than Alliance Chappell Hay Springs other thing that be done just now. only stops the tour You don't have to grinning Pollyanna, nor hypocrite man with confidence The air show starts from Omaha town. But you do have exhibit little first stop Burwell next and will your Then do