American State Bank - Merriman, NE

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 1, 1920*
Location: Merriman, Nebraska (42.920, -101.701)

Metadata

Model: gpt-5-mini
Short Digest: 8efd4be9

Response Measures

Full suspension, Books examined

Other: Directors requested state banking department take charge; state examiner closed the bank and state takeover/receivership followed.

Description

Persistent withdrawals (a run) over the prior 12 months following troubles with a former cashier led directors to ask the state banking department to take charge; examiner closed the bank in Jan 1921. Closure was by state examiner (government action).

Events (3)

1. January 1, 1920* Run

Cause: Bank Specific Adverse Info
Cause Details: Persistent withdrawals grew out of trouble with a former cashier who disappeared, later returned and made good his shortage; stockholders previously made good the shortage.
Measures: Stockholders made good the cashier's shortage; directors requested state banking department take charge.
Newspaper Excerpt: A run on the American State bank of Merriman, Neb., ... covering the last 12 months
Source: newspapers

2. January 11, 1921 Receivership

Newspaper Excerpt: A run ... has resulted in a request by the directors that the state banking department take it over. Examiner Eastman closed the bank Tuesday, according to J. E. Hart.
Source: newspapers

3. January 11, 1921 Suspension

Cause: Government Action
Cause Details: Directors asked the state banking department to take charge because of depletion of cash reserve from persistent withdrawals; state examiner closed the bank.
Newspaper Excerpt: Examiner Eastman closed the bank Tuesday, according to J. E. Hart, secretary of the state department of trade and commerce.
Source: newspapers

Newspaper Articles (1)

1. January 13, 1921 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, January 13, 1921

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Article Text

Cherry County Bank Is Closed By State Board Persistent Run of Depositors Causes Directors to Ask State to Take Entire Charge. Lincoln, Neb., Jan. 12:-(Special.) -A run on the American State bank of Merriman, Neb., Cherry county, covering the last 12 months, has resulted in a request by the directors that the state banking department take it over. Examiner Eastman closed the bank Tuesday, according to J. E. Hart. secretary of the state department of trade and commerce. Depletion of its cash reserve, caused by persistent withdrawals, grew out of "some unfortunate trouble with its former cashier, who disappeared and remained in hiding for some time, but later returned and made good his shortage," Mr. Hart says. The stockholders had previously made good the shortage. A recent statement shows total resources of the bank, $99,074; capital and surplus, $17,500; deposits, $78,143, and cash and due from banks, $6,156. The examiner's report, according to Mr. Hart, shows bad and doubtful paper of $8,045 and slow and unliquid paper of $11,000. Mr. Hart says no fraud is involved and that no loss will be suffered from the guaranty fund, according to the apparent outlook. The president of the bank is Arthur Bowring, prominent ranchman and member of the Cherry county commissioners. G. C. Fairhead is vice president and R. C. Bartels present cashier.