German American Savings Bank

Bank Information

Episode Type: Run Only
Bank Type: savings bank
Start Date: January 1, 1893*
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 5cb48f90

Response Measures

Accommodated withdrawals, Capital injected

Description

Article (1912) recounts that during the panic of the early 90s the bank's officers notified depositors to come and get their money and paid 100 cents on the dollar; no suspension or closure is mentioned. Date of the run is imprecise — likely the panic of the early 1890s (1893 assumed). 'Savings Bank' implies a state-chartered savings institution, so classified as 'state'.

Events (1)

1. January 1, 1893* Run

Cause: Macro News
Cause Details: Occurred during the broader financial panic of the early 1890s (banking panic), which prompted deposit withdrawals.
Measures: Officers notified depositors to come in and withdraw funds; paid depositors in full (100 cents on the dollar) with interest; principal stockholders assumed and paid liabilities.
Newspaper Excerpt: During the panic of the early 90s Mr. Bedford was president of the GermanAmerican Savings bank. This was the only savings bank in Omaha that did not fail. Its officers saw the handwriting on the wall and notified the depositors to come in and get their money, 100 cents on the dollar, with interest.
Source: newspapers

Newspaper Articles (1)

1. April 8, 1912 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, April 8, 1912

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Article Text

It is easy for a candidate to promise things for the future, but the best test of what he will do is what he has done in the past. In the selection of your city commissioners, we call your attention to Jeff W. Bedford. He has been a citizen and taxpayer for thirty years. During that time he has filled many positions of public trust and has at all times been efficient and trustworthy. During the panic of the early 90s Mr. Bedford was president of the GermanAmerican Savings bank. This was the only savings bank in Omaha that did not fail. Its officers saw the handwriting on the wall and notified the depositors to come in and get their money, 100 cents on the dollar, with interest. Mr. Bedford and the principal stockholders assumed and paid the liabilities. As a public official, Mr. Bedford has at all times worked in the interest of the taxpayers. Believing in the future of Omaha, he has devoted a large part of his time to the upbuilding of the city, knowing that what was good enough for Omaha was good enough for him.