13331. First State Bank (North Bend, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 26, 1928
Location
North Bend, Nebraska (41.462, -96.780)

Metadata

Model
gpt-5-mini
Short Digest
2c847d64

Response Measures

None

Description

The bank was already in the hands of the guaranty fund commission by March 26, 1928 (Article 1). No article describes a depositor run; instead the bank was closed/operated by the guaranty fund commission and placed in receivership. Multiple 1929 articles discuss appointment/retention and actions of a receiver (R. O. Brownell) and court-authorized sale of assets, indicating permanent closure/liquidation rather than reopening.

Events (5)

1. March 26, 1928 Suspension
Cause
Government Action
Cause Details
Bank was taken into custody/operations by the guaranty fund commission (state guaranty body) and payments suspended while commission/receiver administered affairs.
Newspaper Excerpt
compel the First State bank, of North Bend, now in the hands of the guaranty fund commission, to pay $17,000 held in certificates of deposit
Source
newspapers
2. February 14, 1929 Receivership
Newspaper Excerpt
BROWNELL FOR NORTH BEND BANK RECEIVER ... urging the appointment of Robert O. Brownell of Schuyler ... as receiver for the ... First State bank of North Bend, was filed in district court yesterday by the state, thru Attorney General C. A. Sorensen.
Source
newspapers
3. April 13, 1929 Receivership
Newspaper Excerpt
District Judge Fred L. Spear issued an order late Thursday for R. W. Brownell to appear in court here April 13 to explain his acts as receiver for the First State bank of North Bend. It is charged that Brownell disposed of part of the bank's assets without a court order
Source
newspapers
4. May 22, 1929 Receivership
Newspaper Excerpt
Judge Fred L. Spear ... refused to remove R. Brownell from his position as receiver for the First State bank, of North Bend. ... Judge Spear approved petition of the bank's depositors for the sale of its assets and authorized Brownell to call for sealed bids ... In continuing Brownell as the bank's receiver, Judge Spear found that he had been performing his duties carefully and diligently.
Source
newspapers
5. July 30, 1929 Other
Newspaper Excerpt
ORDER NEW HEARING ON SALE OF BANK ASSETS ... Fred Spear has ordered new hearing on the sale of assets of the closed First State Bank at North Bend. ... The new hearing will be held Thursday before Judge Clinton Chase of Stanton.
Source
newspapers

Newspaper Articles (10)

Article from Kearney Hub, March 26, 1928

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Article Text

BUFFALO COUNTY. ELMCREEK BEACON NOTES. Mrs. Will Vogt underwent a major operation in the hospital at Kearney last Saturday. Born, to Mr. and Mrs. V. O. Forsland (Alta Grace Craig) of Kearney, March 19. son. John Nickel lost three stacks of hay this week when fire blew from a burning stack bottom. Mrs. L. W. Corlise. of Kearney, visited her daughter, Mrs. C. S. Hendrickson, from Friday until Tuesday. Mrs. Martha Milbourn received telegram Friday telling of the sudden death of her granddaughter, Mrs. Tom Headley Friday morning. March 16. Floyd Worthing and family are making visit with relatives in Litchfield this week, taking advantage of time before Jake Smith leaves the store for his own store at Miller. Earl Kenfield stopped off in Elm creek Tuesday to visit his family He is employed on an A. T. and T, gang, which were routed to North Platte to string a stretch of wire in new circuits to the coast. GIBBON REPORTER NOTES. Miss Helen Frederick, who has been at the hospital In Kearney the past two weeks, is gradually improving Mr. and Mrs. Milt Beebe arrived home Monday from Hot Springs, Ark., where they spent the winter months. Mrs. Hunter of Kearney. who was a member of the Woman's Study League while living here, attended the reunion banquet Supt. G. W. Eaton, formerly of Glbbon, re-elected as superintendent of the Maxwell schools for two years at a substantial increase in salary Some of the members of the Woman's Study League attended the Kearney club banquet at the new Fort Kearney Hotel, Wednesday Joseph Bauer died at the home of his son, John, Tuesday at about noon. Several days ago Mr. Bauer had another stroke from which he did not rally Much encouraging sentiment was prevalent at the meeting held Tuesday evening for the promotion of a cheese factory at Kenesaw. Chester Webster received a painful injury last Saturday when he fell from a scaffolding and broke his arm and also his-shoulder SHELTON CLIPPER NOTES. DEPOSITORS SUE BANK. Mr. and Mrs. Oscar Hall are the parPremont. Neb., March 26.-A suit to ents of daughter. born Sunday compel the First State bank, or North March 18. Bend. now in the hands of the guar- Editor C. E. Johnson, of the Gibantee fund commission, to pay $17,- hon Reporter, who has been ill the past 000 held in certificates of deposit to few weeks with auto-intoxication, is depositors has been instituted in dis- reported as being improved at this trict court by eight depositors. This is time. the second such case in a short time, Mrs. George W. Smith left Wedmaking the total involved nearly $30.- nesday for York to attend the state 000, The petitions sets forth that the D. A. R. conference in there money rightfully belongs to the plain- this week. Mrs. Smith is the regent tiffs and should be paid to them. A of the Shelton chapter. similar case against the Snydey State Attorney H. G. Wellensiek, of Grand bank was decided in favor of the plain- Island, a Shelton business visitor tiffs in the lower court and is now Monday, being here on the opening pending in the supreme court. day of the First State bank, of which he is the president. H. C. (HI) Porter, motorman on Idaho apples $1.00 box. East of City a Los Angeles electric car, was fatally National Bank. injured Monday near Van Nuys, Cali fornin. when two ears on single track Kodak Enishing. Midwess Gamera Shop met in a headon collision. C. J. Hornsby came over from Hastings Monday and spent two days here serving as cashier of the First State bank, and getting acquainted with eustomers of the new financial institution. J. T. Allen received a telegram on Sunday morning conveying the news of the death of his mother, Mrs. Elvira Allen, which occurred at nine p. m. Saturday at the home of her daughter. Mrs. McMahon, in San Francisco, RAVENNA NEWS NOTES. Bill Eckerson spent one day last week in Kearney on business. The mother of Miss Ida Ruble, of Ravenna, died in a hospital at Norfolk, Thursday morning of last week. Miss Eva Stearman, fifth grade teacher in the Ravenna public schools, was severely bitten by a dog Monday evening. Mrs. A. A. Mrkvicka was taken to the St. Francis hospital in Grand Island. Monday, in the Love ambulance. Anton Jelinek has recently started construction of a double garage on bis two lot property aeross the street and north from the Catholic church. A. Froelich, of Gibbon, who has been manager of the Farmers Produce company for the past several months, has obtained complete control of the plant by purchase from the former owner, K. J. Powell. Ralph Mingus. son of O. P. Mingus, of Ravenna, and for many years one of Ravenna high schools most stellar athletes, is visiting in Ravenna this week. Mr. Mingus is in Y. M. C. A. work in Chicago


Article from Lincoln Journal Star, February 14, 1929

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Article Text

BROWNELL FOR NORTH BEND BANK RECEIVER tion urging the appointment of Ro ert 0. Brownell of Schuyler, men ber of the guaranty fund commission, as receiver for the delum First State bank of North Bend, was filed in district court yesterday by the state, thru Attornet General C. A. Sorensen.


Article from The Lincoln Star, April 5, 1929

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Article Text

DEMAND MADE ON A BANK RECEIVER FREMONT Neb. April District Judge Fred L. Spear issued an order late Thursday for R. W. Brownell to appear in court here April 13 to explain his acts as receiver for the First State bank of North Bend It is charged that Brownell disposed of part of the bank's assets without a court order


Article from Beatrice Daily Sun, May 22, 1929

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Article Text

NORTH BEND BANK RECEIVER RETAINED Fremont, Nebr. May 22 (/P) Judge Frd L. Suar, in district court here yesterday refused to remove R. Brownell from his position as for the First State bank, of North Bend. At same time Judge Spear approved petition of the bank's depositors for the sale its assets and authorized Brownell to call for sealed bids against the wishes of the state department of trade and commerce. In continuing Brownell as the bank's receiver. Judge Spear found that he had been performing his duties and diligently the state had claimed that he was not working for the best interests of depositors.


Article from The Grand Island Independent, May 22, 1929

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Article Text

REMOVAL OF NORTH BANK RECEIVER REFUSED Neb., May 22. Fred Spear, in district court here yesterday, refused remove Brownell from his position receiver for the First State bank, of North Bend. At the same time Judge Spear approved petition of the bank's positors for the sale of its assets and to call for scalbids against the of the state of and In continuing the bank's Judge Spear found that he had been performing his duties "carefully diligently.' The state claimed that he working for the best interests of


Article from North Platte Daily Telegraph, May 22, 1929

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Article Text

REFUSES TO DISCHARGE BANK RECEIVER Fremont, Neb., May 22. (A.P.) -Judge Fred L. Spear, in district court here yesterday refused to remove R. Brownell from his position as for the First State Bank of North Bend. At the same time Judge Spear approved petition of the bank's depositors for the sale of. its as sets and authorized Brownell call for sealed bids against the trade and commerce. In continuing Brownell as the receiver, Judge Spear found that he had been ingrhis duties "carefully and diligently" the state had claimed that he was not working for the best interests of depositors.


Article from The Omaha Morning Bee-News, May 22, 1929

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Article Text

Refuses to Fire Bank Receiver FREMONT, May memorandum opinion handed down in district court Tuesday, District Judge Fred L. Spear expressed the opinion that R. O. Brownell, for the First State bank of North Bend. had been "careful and diligent" in closing the affairs of the bank and refused to authorize the removal of Brownell, as asked by Attorney General C. A. Sorenson and depositors of the bank. However. Judge Spear, upon the request of 20 depositors. authorized Brownell to call for sealed bids on the assets of the bank as whole. Both Brownell and the state department of trade and commerce had asked that the depositors. request for a sale be overruled.


Article from The Sioux City Journal, June 19, 1929

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Article Text

BANK RECEIVER LOSES SUIT AGAINST PRESIDENT Lincoln, The receiver of the First State bank of North Bend, Dodge county, lost in supreme court a suit to set aside the transfer of certain properties to the wife and daughter by Thomas Kastle, former president of the bank. It claimed that these were to get the property out of reach of the bank, which was creditor. The court says that as the suit was begun 17 days after the bank was taken over and operated by the guaranty fund commission instead of the three months implied by the statute granting it that power, the suit cannot be maintained.


Article from Kearney Hub, July 30, 1929

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NEBRASKA NEWS NOTES. Garage. David late Saturday destroyed the storage garage Charles Machurek, the barber shop Glen Sargent. Loss estimated twenty-two including seventeen automobiles. Bridge Rebuilt. hase been sumed bridge south of the Burlington station here, spanning drainage put out during heavy rains weeks ago. been of its ing room for new 150 foot bridge built Commission Bans Water. continued dry has caused too heavy drain the city wells, city ordered the use city water except for domestic purposes. Order New Hearing. Spear day ordered hearing the of assets the closed First State bank North Bend. Both and the bidder offerobjected court's finding that the bid should rejected. and the bank liquidated otherwise. The held before Judge Clinton Chase of Stanton. Petitions Air Mail Stop. the volume mail handled daily increasing. the Sidney Chamber Commerce has decided petition the make this city regular stop on the route. Many Sidney business men have the desire airplanes for their business trips to Omaha. Thousands Pienic. Long Several thousand an annual the North railroad employes held here Sunday. Representatives of along the line from Chicago to Casper, present. ASSORTED SMILES. "What's she singing?" "It sounds like have pajamas? New the doctor had Arcanum Bulletin. have you got there? insect powder. heavens! You aren't going to commit Pathfinder. your license. campers, fishing. dog, hunting builder's license? Helen reach the license file from under the seat. really love ought to much? my look over the was that peach saw you night?" wasn't grapefruit." "Why grapefruit?" squeezed her and she hit me the Visitors.


Article from North Platte Daily Telegraph, July 30, 1929

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Article Text

ORDER NEW HEARING ON SALE OF BANK ASSETS Fremont, Neb., July 30 (AP) Fred Spear has dered new hearing on the sale of assets of the closed First State Bank at North Bend. Both depositors and the bidder who fered for the assets, have objected to the court's finding that the offer should be rejected, and the bank liquidated otherwise. The new hearing will held Thursday before Judge Clinton Chase of Stanton.