13273. State Bank (Minatare, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 23, 1929
Location
Minatare, Nebraska (41.809, -103.504)

Metadata

Model
gpt-5-mini
Short Digest
668c2eca

Response Measures

None

Description

The State Bank of Minatare closed and failed to open on February 23 (article dated 1929-03-07). Examiner turned the books over to the Guarantee Fund commission for liquidation and an asset custodian (A. E. Torgeson) was placed in charge, indicating permanent closure/receivership. A 1930 article refers to the 'defunct State bank Minatare' and an embezzlement trial, corroborating closure. OCR errors in Article 1 corrected (e.g., 'faidel' -> 'failed', 'departement' context). No contemporaneous run is described.

Events (2)

1. February 23, 1929 Suspension
Cause
Government Action
Cause Details
Examiner from the Department of Trade and Commerce examined books and turned affairs over to the Guarantee Fund commission for liquidation; bank failed to open and was placed in liquidation.
Newspaper Excerpt
failed to open its doors for business on February twentythird.
Source
newspapers
2. March 7, 1929 Receivership
Newspaper Excerpt
turned the affairs of the bank over to the Guarantee Fund commission for liquidation. Torgeson ... has been placed in charge of the local institution which failed to open its doors for business on February twenty-third.
Source
newspapers

Newspaper Articles (2)

Article from Minatare Free Press, March 7, 1929

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Article Text

PROSPECTS SEVERAL INTERESTED BANKERS ARE INVESTIGATING A. E. Torgeson Placed in of Charge Assets of Defunct State Bank of Minatare The department of Trade and Commerce, through examiner, Lau, of the books of the State Bank of Minatare last Friday afternoon and turned the fairs of the bank over to the Guarantee Fund commission for liquidation. Torgeson, formerly connected with the First National Bank at Bayard, and until recently in charge affairs of the defunct American State at Scottsbluff has been placed in charge of the local instituwhich faidel to open its doors for business on February twentythird. The bank open now during regular banking hours and patrons the are permitted to get their belongings from the safety deposit vault, to get their statements and cancelled checks. Mrs. Inez Houck, who has been employed as bookkeeper in the bank for the past eral years is retained in the service of the guarantee fund commission. The depositors committee, appointat meeting of the depositors, soon after the bank failure made vain effort to reopen the closed bank, but have been working diligently work out ways and means will best protect the depositors. The mittee composed of E. Clough, Harry Johnson, Hary Conklin, Otto Juergens and Redding. Several persons interested in starting anothbank in this city have been here during the past week in conference with commission heads and the committee. and new bank may be reality within short time acording reports being circulated. officially stated that one application has been filed for new state bank charter and there very strong probability application will filed for National bank charter within few days. ladies aid food and apron sale will be held March 30th at Fry's store. -m7. Carter, district judge, of Gering was Minatare visitor yesterday afternoon. Hill of Alliance visited the home of his sister. Mrs. Clough, in this city yesterday. Dwiggins and Mrs. visited the Whitcomb home in Scottsbluff Saturday. Powel returned Friday from Rapid City, South Dakota, where he had been called by the death of his mother. Chas. Howard and daughter Shirley of Lyman visited Tuesday the Hathaway and E. R. Bollhoefner homes. Art Stempfig and Mrs. Stempfig, of Mitchell spent nesday at the home of Mrs. Faust in this city. Eastern Star Kensington met at the home of Mrs. Tuesday with Mrs. Swindell assistant hostess. E. H. Johnson entertained her Sunday school class at taffy pull, Monday after school. most delightful afternoon was spent. Friday afternoon bridge club met at the home of Mrs. George Webb, last Friday. High score awarded Mrs. Clyde Haring. Aftdelightful afternoon most delicious lunch was served. and Mrs. Morris of Oshkosh, Nebr., speak M. church the evening the 13th of March. The meeting called to organize Queen Esther branch of the Missionary orciety, All girls from 12 years ganization. 18 years of age are eligible to members. Everyone is cordially come invited


Article from Nebraska Signal, November 20, 1930

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Article Text

Acquitted. Johnson, former of the defunct State bank Minatare, charged embezzacquitted here Saturday by district court jury. The described in the two the and cash. the funds they were $500 taken the he claimed lieu voted the bank directors handling real estate purchase the bank. State guaranty fund commission members several state bank receivers were here testify. received the case Friday afternoon. Turkey Irons, ironing helps, ways different articles clothing discussed the Creek club, at the home of Mrs. James Delaney. The meeting opened with then the club members The business meeting elect secretary vote taken William elected. close the meeting licious luncheon served Rohla, Frank We meet Friday, home of Mrs. James Mrs. Schmidt Mrs. John Spohn helping Ernest Sutter among The Signal's callers Friday. before caring for sick horse.