Norfolk State Bank - Norfolk, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 23, 1930
Location: Norfolk, Nebraska (42.028, -97.417)

Metadata

Model: gpt-5-mini
Short Digest: 880d2d59

Response Measures

None

Description

Article (The Lincoln Star, 1930-07-23) reports Norfolk State Bank suspended operations while a reorganization is planned with the State Bank Commissioner assisting. Suspension appears driven by financial difficulties and loss of confidence. Reopening is planned but not yet reported; classified as suspension_reopening because the piece emphasizes planned reorganization and temporary suspension rather than an immediate failure or receivership.

Events (1)

1. July 23, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Financial difficulties present for months and loss of confidence in officers; deposits had dwindled significantly prior to suspension.
Newspaper Excerpt: Norfolk State Bank Suspends Operations Reorganization Is Planned With State Commissioner Woods Assisting in the Work. The Nebraska State bank suspended operations today until plans for reorganization can be considered.
Source: newspapers

Newspaper Articles (1)

1. July 23, 1930 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, July 23, 1930

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Article Text

NEBRASKA News Norfolk State Bank Suspends Operations Reorganization Is Planned With State Commissioner Woods Assisting in the Work. The Nebraska State bank suspended operations today until plans for reorganization can be considered. hoped, officials said, that the bank's affairs may be satisfactorily handled during the period of suspension when deposits will not be accepted nor payments made State Bank Commissioner George Woods here to assist the officers and Ransom president the concern. Fleming vice president, and D. (Wetzel, cashier. Deposits aggregated more than $2,000,000 June 29, 1929 The Nebraska State was the largest financial institution Norfolk, deposits aggregating $1,814,296.75 at the time having dwindled during the last month Loss of confidence was attributed its officers for the decision to suspend Financial difficulties of the bank, was reported. occurred some months ago. Gibson, former president who resigned after leaving for California, avowedly for his health. was succeeded in that office by Ransom, with C. Fleming as vice president.