13158. Citizens Bank (Johnstown, NE)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 26, 1928
Location
Johnstown, Nebraska (42.572, -100.058)

Metadata

Model
gpt-5-mini
Short Digest
77aedd7b

Response Measures

Full suspension, Books examined

Other: State Department of Trade and Commerce placed the bank in its hands (state examiner in charge).

Description

Newspaper reports (Mar 29, 1928) state a run occurred the day before the bank closed; the bank was then placed in the hands of the Nebraska Department of Trade and Commerce (i.e., state regulator/receiver). That implies suspension and receivership/closure. Dates inferred from publication day: run on Mar 26, 1928; bank closed Mar 27, 1928; regulator took charge Mar 28, 1928.

Events (3)

1. March 26, 1928 Run
Cause
Bank Specific Adverse Info
Cause Details
Deposits reported much smaller than loans/discounts in published statement; loss of confidence led deposit withdrawals
Measures
None described besides staff leaving town; heavy withdrawals led to decision to close
Newspaper Excerpt
A run on the bank the day before so we are Informed, had to do with hastening conditions
Source
newspapers
2. March 27, 1928 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Immediate suspension followed heavy withdrawals from the run and the bank's precarious financial position as indicated in its statement (loans/discounts exceeded deposits).
Newspaper Excerpt
The Citizens Bank of Johnstown closed it doors on Tuesday morning to futher business, for the present at least
Source
newspapers
3. March 28, 1928 Receivership
Newspaper Excerpt
Wednesday forenoon a man representing the Department of Trade presence officially placed the bank in the Department's hands and he is at present in charge.
Source
newspapers

Newspaper Articles (2)

Article from The Johnstown Enterprise, March 29, 1928

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Article Text

Johnstown Citizens Bank Closes Mrs. W.R. Shannon Answers Final Summons. The Citizens Bank of Johnstown closed it doors on Tuesday morning to futher business, for the present at least, after apparently trying for some time to weather the storm so to speak. A run on the bank the day before so we are Informed, had to do with hastening conditions to the point where Mr. Holt found it imperative that something must be done and accordingly the door was closed and notice to that effect placed thereon. Most of that day (Tuesday) poeple about town refused to believe the institution more than temporarily closed on account of possible unavoidable absence of the officials from town, as it was known that Mr. Holt left town by automobile about 10 a. m. It developed later that he motor ed to Valentine on business and that night took the train for Lincoln, doubtless to lay the matter of the bank's condition before the Department of Trade and Commerce. Wednesday forenoon a man representing the Department of Trade presence officially placed the bank in the Department's hands and he is at present in charge. The bank's statement published last week showed deposits subject to check as $58,697.51 Time cerfeaturing two of the larger liability items: resource column among other items showed loans and discounts $129,802.28 As to the final results relative to whether or not the bank can or will be re-organized and again placed on a business footing in the near future, is not known at this writing, notwithstanding there is rumor to that effect. but it is safe to say the developements of the situation will be watched with interest by patrons of the bank and local people generally. The attendant results of a bank failure in any town has become too well known to need any further comment. At an early hour Wednesday occured the passing from this life of Mrs. W. R. Shannon, at the home of her daughter, Mrs. Mabel Herms meyer, seven miles northeast of Johnstown. Mrs. Shannon's death comes at an advanced age and following about three weeks of serious illness. Mrs. Shannon together with her husband and son Sidney. have made their home for near twenty years on their ranch four miles east of Wood Lake, consequently the deceased is well known at both toat place and in this locality. Mrs. Shannon's life was one that radiadated sunshine where ever she went and her every ready smile was one that seemed to penetrate the darkest cloud of discouragement and sorrow and by such a life she greatly endeared herself to all whom she came to know, which is to say that she was beloved and admired by all. Her death, therefore, brings profound sorrow to friend and relatives alike. In her last days everything was done that medical skill and loving hands coulu bring about to prolong her life, but the end could not longer be stayed. The funeral will be held Friday afternoon at the Hermsmeyer home at 1:30, conducted by Rev. S. G. Rasmus on of the Johnstown M. E church Interment will be at Grand Prairie cemetery. Mrs. Shannon is survived in her immediate family by her husband, three daughters, Mrs. Verge Fancher, Mrs Mabel Hermsmey of Johnstown; Mrs. Hazel Allen, of South Dakota; Sidney, of Wood Lake: Walter, of Lincoln; one son, name and address not learned. The Et terprise is hopeful of hav ing a more extended sketch of the life of the departed for it's next sue. friendships of their lives had been made here. With it's attendant pleasures the oceasion brought it's regrets to they were about to sever their personal contact with these estimable people leaving soon for a far distant place of abode. Mrs. Mabel Yockey is visiting relatives at Long Pine today. She plans to leave Saturday for Lincoln where she rather expects to remain indefinitely. Miss Helen, Gilchrist has been off teaching duty in our schools most of the week on account of ser ious trouble with her teeth.


Article from Springview Herald, April 5, 1928

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Article Text

Frank Donason of Mills was transacting business in Spring view Tuesday. Ottobine Wiley, who lives in the Burton neighborhood, is greeting Springview friends here today. Mr. and Mrs. Walter Jenness of Mills are spending few days in Springview, having come Tuesday. Mrs. W. Kenaston and son Ora of Wewela, are in Springview today looking after business matters. Mr and Mrs. Fred Hasch of Mariaville were in town last Saturday for short visit with their son, "Bill" Hasch, the Mr. and Mrs. Frank Stapleton drove to Sparks Monday for visit with their son, Orvis, and wife. Mrs. Rosa Williams, who visiting here, accompanied them. Rev. and Mrs. C. Kern this week moved their household goods from the parsonage to the Jaques property on south Main street, where they will live this summer. C. Hallock drove to Stuart today to visit his son Jim, who is in the hospital at that place, valescing from an operation for appendicitis, which he had Friday of last week. On account of the regular monthly meeting date coming on the same day as the primary election, the county commissioners met week earlier than custom ary and were in session Tuesday. A letter from Doyel Carr, who The distance, he says, is 340 miles. Lusk, Wyo., where he has farmleft the first of the week for ing interests, states that he made the trip in his car in twelve hours. Little Dorothea Riley has beer quite sick at the home of her parents the past week, with an tack of rheumatism. Reports are that is recovering from the attack and is much better at this time. Leroy Beebout, editor of the Johnstown Enterprise, was in town Tuesday, looking after the interests of his candidacy for state representative. He made this office pleasant call while here. Mr. and Mrs. Ripley arrived from California Sunday, where they had been for several months past. They came home feeling and looking well and say that they enjoyed the sojourn on the coast. Geo. Hallock has been confined to the bed since Saturday night with severe attack of influenza. The trouble does not appear to yield to treatment and he does not show much improvement in condition at this time. Chas. Simons of Norden was in town Wednesday to consult result of being physician as kicked on the hip the day before by horse. The injury was quite severe and he is unable to put his foot to the ground. Smelser is this week moving his personal property to his ranch near the state line, where they will live this summer. Prof. E. Pierce has rented the Smelresidence and with his family expects to move therein. Commercial trucking to Omaha was inaugurated in this county last Thursday, when Blank Bros. of Ainsworth loaded head of hogs for Cold, to take to the city market. The trip was made in little over twelve hours. Mrs. Rosa Williams of New Auburn, Wis., has been spending the week at the home of her brother, Frank Stapleton. She enroute home from California, where she spent the winter. This is the first time brother and sishave met for twenty years. ter At the city election, which was very quiet, Tuesday Dr. Lear and E. Logan were elected as members of the village board of trustees. Dr. Lear member and Mr. formerly Logan elected to take the place of Snyder The Citizens Bank of Johns town closed its doors on Tuesday morning to further business, for the present at least, after apparently trying for some time to weather the storm, SO to speak. run on the bank the day before we are informed, had to do with hastening conditions to the point where Mr Holt found it perative that something must be done and accordingly closed the door and notice to that effect was placed Enterprise.