13382. First National Bank (Omaha, NE)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 209
Charter Number: 209
Start Date: August 15, 1931
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 79600727

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

Multiple contemporary articles (Aug 17, 1931) report a heavy Saturday run on Omaha's national banks including First National. Banks remained open, paid every demand, received emergency currency by airplane from the Federal Reserve, and depositors largely re-deposited funds. The trigger was panic after failures of several local state banks, not misinformation about this bank. No suspension, receivership, or permanent closure is reported.

Events (2)

1. January 20, 1864 Chartered

Source: historical_nic

2. August 15, 1931 Run

Cause: Local Banks
Cause Details: Panic followed the failure of four uptown state banks, causing depositors to withdraw funds from Omaha national banks.
Measures: Banks stayed open (until 9 p.m.), paid all demands; Federal Reserve sent currency by airplane; bank officers went among crowds and served food to those waiting to calm depositors.
Newspaper Excerpt: The three big down town banks kept open until 9 p. m., Saturday and paid off every demand...Three million dollars was sent in by airplane from the Kansas City federal reserve bank...Officers of Omaha National, First National and U. S. National announced that not one large business account was closed. The run began in earnest at noon. It was practically over at 1:30...
Source: newspapers

Newspaper Articles (10)

1. August 17, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, August 17, 1931

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OMAHA DEPOSITORS RETURN WITH MONEY After Week End "Run" on Downtown Banks, Officers Report Business Again Normal OMAHA. (UP). Convinced that financially sound, many of their who drew out their savings in the big "run" of Saturday, reappeared at deposit windows Monday to renew their accounts. The three big down town banks kept open Saturday and paid off every demand. The of their was so convincing that no further runs are anticipated by bank officers. As thousands of milled about the banks officers went among them and asthere was plenty of money to pay off every claim. When found that some of them had been in line for more than an hour, President Dale Clark of Omaha National ordered luncheon served and and cake was passed around. Three million dollars was sent here by airplane from the Kansas City federal reserve bank, the airship with the money arriving shortly before o'clock. The additional funds were not needed, however, and the money was sent merely to make sure that bank would be forced to suspend payment. No estimate of the amounts withdrawn was forthcoming Monday Most of the accounts closed were small ones. Officers of Omaha National, First National and United States that no one large business account was closed. The run began in earnest at It was over at 1:30 and by o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts were opened Saturday, bank officials said, and regular deposits were about on par with the ordinary Saturday business.

2. August 17, 1931 Fremont Tribune Fremont, NE

Article from Fremont Tribune, August 17, 1931

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STRENGTH Five National Banks of City Convincing Demonstration that the national banks financially sound, many of their depositors who drew out their ings in "run" Saturday shamefacedly reappeared deposit windows today renew their counts. The three big down town banks open until Saturday and paid off every mand. The demonstration of their sound was so convincing further are bank of persons millabout the banks, officers went among and assured everyone there plenty money pay off every When was that many of them had been line for more than hour. dent Dale Clark Omaha Nationordered lunchen and and cake was around. Three million dollars was sent airplane the Kansas City federal reserve the airship with the money arriving shortly fore o'clock The funds were not and were merely to sure that none the here would fail meet of the amount with. was today the closed small Officers Oniana National First National and National that one large busiThe run began earnest noon o'clock the usual turns the The usual of ed Saturday, bank officials anregular deposits about with the ordinary Saturday

3. August 17, 1931 The Falls City Journal Falls City, NE

Article from The Falls City Journal, August 17, 1931

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Funds Redeposited In Omaha Concerns Cmaha Aug. 17. (U.P.)-Convinced that the five national banks here are financia ly sound, many of their depositors who drew out their savings in the big 'run'' Saturday shamefacedly reappeared at deposit windows today to renew their acccunts. The three big down town banks kept open until 9 p. m., Saturday and paid off every demand. The of their soundness was so convincing that no further runs are feared by bank officers. As thousands of persons milled about the banks. officers went among them and assured everyone there was plenty of money to pay off every claim. When it was found that many of them had been in line for more than an hour. President Dale Clark of Omaha National, ordered luncheon served. and lemonade and cake was passed around. Three million dollars was sent in by airplane from the Kansas City federal reserve bank. the airship with the money arriving shortly before 6 o'c'ock. The additional funds were not needed. however, and were sent merely to make sure that none of the national banks here would fail to meet demands. No estimate of the amount withdrawn was forthcoming today. Most of the accounts closed were small ones. Officers of Omaha National. First National and U. S. National announced that not one large business account was closed. The run began in earnest at noon. It was practically over at 1:30 and by 2 o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts were opened Saturday. bank officials announced. and regu ar deposits were about on a par with the ordinary Saturday business.

4. August 17, 1931 The Grand Island Independent Grand Island, NE

Article from The Grand Island Independent, August 17, 1931

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As Banks Withdrawals Omaha Institutions main Saturday Afternoon DEPOSITS ARE Nervousness Day Effectually Dispelied Signs Are Told Plenty Hand Patrons. Omaha, Aug. convincing demonstration their ability and willingness meet all cash demands, national banks in Omaha Saturday allayed the nervousness of small positors and effectually checked flurry evidence them. The Omaha National and the United States National kept doors open until after although withdrawals checking accounts had stopped and had pracstopped savings The First National closed after all patrons had cared In South Omaha the Live Stock experienced of rush the uptown savings department during the middle the day, died the and permitted closing for the day. Made Customers Happy the Omaha National ham and cheese sandwiches and lemonade the bank those the tht they would not go hungry waiting their With many millions cash hand and many more available short banks made tempt dissuade patrons from The exhibition strength itself sufficient the Three million dollars arrived plane from Kansas City Federal Reserve bank Faber the Faber Transit company piloted the cabin monoplane three bags, holding million dollars each. Kansas rode and the plane met here by federal reserve armored truck guard four men. Six armed with shotguns, the truck into the city. The million bankers said, purely precautionEnough available Federal bank to meet said, but the extra in should far beyond expectation. Withdrawals chiefly in the departments, and the total comparatively light the large deposits in both savings and checking accounts were not affected. Withdrawals Returned "Big customers" made their deposits usual, and the lines the receiving seemed to help inspire confidence. Many came make departed with their deposits During the many those who had made back and deposited their money Banks other than the four named reported little flurries, no remain open hours. announcing that the Omaha tional would remain open until customer remained for, ident Dale Clark said that pleasure this plenty money bank, and plenty more in the Federal bank down the The Omaha Clearing House association with the strong national banks Omaha and South Omaha, its members, took hand allaying public nervousness the closing small state banks Omaha the past including the State Saturday official statement following the association the that the banks which not of the house, they portion' deposits. Deposits closed banks amount percent the total deposits the banks Behind the clearhouse banks are strong cash sources, the strength the bank of this district. The Clearing House issued the statement years, since the organization the Clearing House 1884, every depositor any bank which member the Omaha Clearing House Omaha, has been paid full. In order put end unfoundrumors unguarded talk, the Clearing House banks of Omaha wish point out that while four the smaller banks Omaha liquidation in the past of these banks belonged the Federal Reserve system. All the present banks in Omaha and South Omaha, of the Federal have and have total posits over million dollars, the banks that liquidating deposits only about percent this total, and this depositor will receive very stantial portion. statement Saturday managing director the bank in Omaha, said: remaining banks in Omaha sound and there occasion their for depositors To this time strike against and and wage earner in property owner "National banks members Reserve system and their Federal them the membership entitles obtaining funds from the privilege Reserve The Federal Omaha are affibanks

5. August 17, 1931 The McCook Daily Gazette McCook, NE

Article from The McCook Daily Gazette, August 17, 1931

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OMAHA DEPOSITORS RETURN THE MONEY TAKEN OUT IN FEAR Omaha, Aug. vinced that five National banks here are financially sound, of their depositors who many drew out their savings in the of shamefacedly at deposit dows today renew their counts. The three big down town banks kept open until Saturday and paid off every mand. The demonstration of their was that further runs are anticipated bank milled about the banks persons officers went among them and assured everyone there was plenof off money pay every claim. When found that some of them had been line for more than an hour, President Dale Clark Omaha National ordered luncheon served and lemonade and cake was passed around Three million dollars was here from the City Federal bank, the airship with the shortly money before oclock. The additional funds were not needed, however, and the was sent merely money make sure that bank would forced to suspend payment. No estimate the amounts withdrawn forthcoming day. Most of the accounts small ones. Officers Omaha National, First National and National that not one large business count was closed. The run began in earnest noon. practically and by oclock only usual number of customers awaiting turns at the cashier windows.

6. August 17, 1931 Lincoln Journal Star Lincoln, NE

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OMAHA DEPOSITORS RETURN WITH MONEY After Week End "Run" on Downtown Banks, Officers Report Business Again Normal OMAHA (UP). Convinced that financially sound, many of their depositors who drew out their savings in the big "run" of Saturday, reappeared at deposit windows Monday to renew their accounts. The three big down town banks kept open until 9 p. m., Saturday and paid off every demand. The of their soundness was so convincing that no further runs are anticipated by bank officers. As thousands of persons milled about the banks officers went among them and assured there was plenty of money to pay off every claim. When it found that some of them had been in line for more than an President Dale Clark of Omaha National ordered luncheon served and lemonade and cake was passed around. Three million dollars was sent here by airplane from the Kansas City federal reserve bank, the airship with the money arriving shortly before 6 o'clock. The additional funds were not needed, however, and the money was sent merely to make sure that no bank would be forced to suspend payment. No estimate of the amounts withdrawn was forthcoming Monday Most of the accounts closed were small ones. Officers of Omaha National, First National and United States National announced that no one large business account was closed. The run began in earnest at noon. It was practically over at 1:30 and by 2 o'clock only the usual number of customers were awaiting turns at the cashier windows. The usual number of new accounts opened Saturday, bank officials said, and regular deposits were about on a par with the ordinary Saturday business.

7. August 17, 1931 The Stockman's Journal Omaha, NE

Article from The Stockman's Journal, August 17, 1931

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NATIONAL BANKS ARE FINANCIALLY SOUND Soundness Efficiently Demonstrated During Run-Accounts Being Renewed. Convinced that the five national banks financially sound, many of their depositors drew their savings the "run" Saturday shamefacedly reappeared windows today renew The three big down banks kept Saturday and paid off every mand. The demonstration of their soundconvinci: that no furfeared bank runs ficers. thousands milled about the banks, went among them and assured everyone plenty money to pay there claim. When was found off every that many of them had in hour for more Dale Clark of Omaha orserved, and dered around dollars was sent in million from the Kansas airplane reserve bank, airship federal arriving shortly bewith the money The funds o'clock. and were none of the banks here would meet estimate the amount drawn was fort coming today. small Most accounts closed Officers Omaha National, First National and announced that not one large business account closed. The began in earnest at noon was practically and o'clock only the usual customers turns windows. The usual the number accounts opened Saturday, officials and regular about on with the ordinary, Saturday par

8. August 18, 1931 Lincoln Journal Star Lincoln, NE

Article from Lincoln Journal Star, August 18, 1931

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DEPOSITORS RETURN After Week End "Run" on Downtown Banks, OffiAgain OMAHA. (UP), Convinced that financially sound, their depositors who drew their the of Saturreappeared deposit dows to their a.c. counts. The three big down banks open urday and paid off every demand. The their was convincing further are anticipated bank officers. persons milled about the banks officers among and sured plenty money to pay off found that some had line for Clark of Omaha lunch. eon served and and cake passed Three million dollars was sent airplane the City federal bank. the airthe shortly before The ditional funds not needed, however, the was merely make that would be forced to suspend ment. No of the amounts with Monday Most the accounts closed small Officers Omaha National, First National United States that one large business account was closed. began earnest noon. practically over 1:30 and by only the usual number awaiting turns the cashier windows. usual of new accounts were opened Saturday bank officials and posits were about the ordinary Saturday business.

9. August 19, 1931 Osmond Republican Osmond, NE

Article from Osmond Republican, August 19, 1931

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RUN ON OMAHA NATIONAL BANKS The strength of the National banking structure at Omaha was demonstrated Saturday when hundreds of depositors, scared by the failure of four uptown state banks, flocked to the National institutions to withdraw their savings Farnam street between Sixteenth and Seventeenth, where the three large National banks are located was literally black with people at noon, the usual closing hour on Saturday. National banks had received plenty of warning and federal reserve banks had supplied them with a limitless supply of money with which to withstand the run. The Federal Reserve Bank at Kansas City sent more than 2 million dollars in currency to the city by airplane. The crowd was the densest at the Omaha National, which has deposits of about $37,000,000. Officers of the bank went among the crowd and assured them that no hindrance would be placed in their way of withdrawal. Similar scenes were being enacted at the United States and the First National banks. In South Omaha the Packers National experienced a small run, but was able to easily care for all demands. The Postal Savings bank in the post office was swamped with persons who had withdrawn their money and desired to bank it with Uncle Sam. Usually only two clerks are on duty in this bank. At times the line of waiting depositors was a block long Safety deposit boxes soon became scarce, many who had withdrawn money deciding to put it away in these boxes until the situation clears up. ner and then westward into Jackson. At present the highway runs in a general westward direction for about three and a half miles, swings one mile south and curves west into Jackson. Backers of these new projects say they would shorten the distance be tween these towns and would eliminate several sharp curves. C. W. Peasinger of Randolph, president of the Nebraska Federal Highway No. 20 association, presided. Governor Bryan was served O.: Monday with notice of a restraining order issued in Dakota county by District Judge Mark J. Ryan at Pender, preventing the department of public works from traversing the farm of Nid olas Goergen near South Sioux City, in its rerouting of the Hearing on an application for a temporary injunction will be held at Pender August 20. "Her highness awaits within sir." "Within what "Within reach!" Golddigger: I'd have adored to live during the age of chivalry. Second Femme: Yes. Weren't the men polite then? First One: And they had such wonderful manors. Bum: Can you spare me a dime for a cup of coffee? Wealthy Prospect (trying to evade the question) :Sure, if you can change a twenty. Bum (reaching into pocket) I can do that all right, but you'll have to take a lot of small change.

10. October 22, 1931 The Ord Observer Ord, NE

Article from The Ord Observer, October 22, 1931

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becoming more and more the of the big insurance companand loan syndicates to commence their foreclosure proceedings in the federal courts, which they may loan is more than $3000. This the last step in heartlessness. Our district courts are much nearer the people than the federal courts and how some inclination to help the labored farmer who cannot pay his interest promptly. This our district courts may do by granting dilatory motions the hope that somehow may raise the money or setting aside sales for valid But no such consideration for the fortunate farmer is shown by federal courts. If you cannot pay the dot and your loan exceeds $3000. are liable to be haled to Lincoln you Omaha to meet your fate. This greatly to of the closure both is the of expense your defense, you make any, and by the higher costs in the federal courts, and deprives you of the moiety of mercy that might be shown you by district judge. Now take look at the our way boasted government flies to the aid of our big financial institutions. the great financial house of Kountz Bros. of New York failed the other day, there was immediate fear that there might be run the First National Bank Omaha, which closely affilliated with the Kountz interests in the metropolis. To avert any such mishap the Federal Reserve Bank dispatched in currency to Omaha be handy in of depositors made case was the First National. Things are plainly enough set aid the rich, but not finger to stay the merciless assault on debtor who the of circumstances over which no control.