Mcdonald State Bank - North Platte, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 24, 1930
Location: North Platte, Nebraska (41.124, -100.765)

Metadata

Model: gpt-5-mini
Short Digest: 022bd7bc

Response Measures

None

Description

Article (North Platte Tribune, 1930-02-25) reports that stockholders decided to close the Union State Bank and McDonald State Bank took over the deposits. The bank was described as solvent but unprofitable; it will surrender its charter and close. No run is mentioned; this is a voluntary closure with deposits assumed by another local bank.

Events (1)

1. February 24, 1930 Suspension

Cause: Voluntary Liquidation
Cause Details: Stockholders decided to close the bank because it was not making money; deposits were taken over by McDonald State Bank and the Union State Bank will surrender its charter.
Newspaper Excerpt: The McDonald state bank took over the deposits of the Union state bank Monday morning and the later bank quit business. ... Stockholders of the Union state bank decided Saturday to close the bank.
Source: newspapers

Newspaper Articles (1)

1. February 25, 1930 The North Platte Tribune North Platte, NE

Article from The North Platte Tribune, February 25, 1930

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Article Text

McDonald Bank Takes Over The DEPOSITORS CAN GET THEIR MONEY OR LEAVE ON DEPOSIT The McDonald state bank took over the deposits of the Union state bank Monday morning and the later bank quit business. The depositors were notified that they could get their money they wanted at the bank. The Union state bank officials turned over enough notes and ourities to entirely cover the mount of Stockholders of the Union state bank decided Saturday to close the bank. They said they were not making any money and that they would prefer to settle up the affairs of the bank and put their money at work elsewhere than to continue to run the bank and not income from The bank solvent at all timesgand the stockholders and directors were financially responsible for the obligations of the bank but its deposits did not grow and that did not furnish enough funds able to make money. The McDonald bank only sumed the deposits. Any other obligations of the Union state bank will be settled by the bank's officials The notes and secur ities which the McDonald bank over were those which the officers considered to be the best and worth 100 cents on the dollar. The Union state will surrender its charter and close affairs as fast possible. This leaves North Platte with banks, one National and one They are both very strong dollars more assets. Miss Susan Hawkins, of St. Joseph, who has been visiting her sister, Mrs. Roland Easterbrooks, returned to her home Saturday. Mr. and Mrs. Robert Jones left Saturday for Salt Lake City and points in Oregon where they will visit relatives. Mr. Jones is joying vacation from his duties the Miss Margaret Baker returned Monday to Hastings where she attending school after spending the week end here visiting her parents, Mr. and Mrs. Herbert Baker. Mr. and Mrs. Floyd Stribling were in the city Friday on their way to Omaha. They were called there by the serious illness of Mrs. *Stribling's mother. They visited here with their son, Earl, and with the many other friends The state board of pardons Lincoln ruled Wednesday that the six year sentence of Harry John North Platte, convicted manslaughter in the death Kelly Sollars in 1926, must stand, but the one hundred and days spent in the Lincoln county jail will deducted the sentence. Mr. and Mrs. D. Russell, of Hastings, former residents of North Platte, arrived in the city Sunday evening and spent the with their daughter, Rincker, and son, Donald Russell. Mr. and Mrs. Russell attended the dedication of the Masonic temple Saturday evening.