13433. Union State Bank (Omaha, NE)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
August 15, 1931
Location
Omaha, Nebraska (41.259, -95.938)

Metadata

Model
gpt-5-mini
Short Digest
c5412fa0

Response Measures

Capital injected, Full suspension, Books examined

Other: State department of trade and commerce/examiner took charge; stockholders later subscribed capital for reorganization.

Description

Multiple articles (Aug 15, 1931) report heavy runs—attributed to the closing of other Omaha banks—caused Union State Bank to suspend Aug 15, 1931. State examiners took charge and plans/stocker injections were made; later reports (Sep–Nov 1931) describe reorganization efforts and an announced reopening (article dated 1931-11-12 says bank will reopen next Monday, i.e., 1931-11-16). OCR glitches in Article 1 appear but do not affect core facts. Classification: run led to suspension, bank later reopened.

Events (3)
1. August 15, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the recent closings of three other Omaha banks; runs on larger banks spread to Union State.
Measures
None specific to the run beyond later suspension; bank and state officials cited heavy withdrawals leading to suspension.
Newspaper Excerpt
Heavy runs on the bank caused by the closing of the other institutions were blamed for the closing of the Union State bank.
Source
newspapers
2. August 15, 1931 Suspension
Cause
Local Banks
Cause Details
Suspension declared after unprecedented withdrawals tied to the closings of other Omaha banks left cash reserve below legal limits; state department took charge to conserve assets and protect interests.
Newspaper Excerpt
Union State bank of Omaha today suspended business in order to safeguard depositors, officials of the state banking department announced.
Source
newspapers
3. November 16, 1931 Reopening
Newspaper Excerpt
Union State Bank Will Reopen on Next Monday (article dated 1931-11-12). The Union State bank ... will reopen under its past charter ... directors announced today. Reorganizers subscribed to make reorganization possible.
Source
newspapers

Newspaper Articles (19)
1. August 15, 1929 The Daily Record Omaha, NE
Article from The Daily Record, August 15, 1929

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Article Text

Citizens Bank The following payments Chattel Mortgage All and State Bank various Bank of CitiOne said promisfor due executed by Johnstown Union Bank braska the other obligation amounted the various 1928 the date the Receiver claim paid date has not been nor anything are that such of the notes have security will be sold are further of and thereof default ties itemized collateral hat the of the offering the lateral for and the to obligations braska to proceeds first will applied the and the Nebraska, to Omaha and that said obligations the costs, and only case that may be necesthe will all of pay collateral obligations UNION STATE A CORPORBy 8-10-3t Its President

2. August 15, 1931 The Gazette Cedar Rapids, IA
Article from The Gazette, August 15, 1931

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Another Bank At Omaha Shuts Down OMAHA. Aug. 15 Union State bank of Omaha today suspended business in order to safeguard depositors, officials of the state banking department announced. The Union State is the fourth Omaha bank to close since Monday Heavy runs on the bank caused by the closing of the other institutions were blamed for the closing of the Union State bank The last report of the bank listed deposits of 1,700,000 It was capitalized at $200,000 and had a reserve $40,000.

3. August 15, 1931 The Lincoln Star Lincoln, NE
Article from The Lincoln Star, August 15, 1931

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ANOTHER OMAHA BANK SUSPENDS Union State Closes But Expects to Reopen Soon. Aug. 15 (AP) The Union State bank of Omaha pended business today treat all patrons as fairly possible,' officials Plans are being formulated to re-open at an early date. and in the meantime the state department trade and commerce charge On June 30. the time of its last bank had deposits and The Union State bank the fourth Omaha within the past week. The State bank Omaha and the Farmers Merchants bank Benson closed Monday and the South Omaha State bank closed yesterday Statement by Woods. George Woods, state issued statement regarding the Union State bank "The Union State bank of Omaha suspends business today. The partment of trade and taken charge to conserve assets and protect interests Examiner Lau in charge. Horacek president of the bank. states that suspension three other in the durhas unprecedented withdrawals. which could not immediately withstood To treat all patrons fairly as possideemed best to suspend 'Plans are being worked upon to reopen the bank early date.' Reserve According to Joseph Votava, attorney for the there heavy Monday after the State bank but dwindled daily until vesterdav. Then. after closing South Omaha State bank there the another heavy run the was cut below the legal reserve limit State officials later today revealed that resources the four banks closed this week totaled compared total of all Omaha banks. Governor's Statement An official issued from the office Saturday foresaid that the Union State of Omaha had been taken the state departover ment the quest its officers and directors Horacek was president Jacob Horacek vice president, and Emil cashier The bank had deposits of about million but had experienced

4. August 15, 1931 The Grand Island Independent Grand Island, NE
Article from The Grand Island Independent, August 15, 1931

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in Union State Last Institution Suspend iness CAPITAL OF $200,000 Deposits Over the Heavy Withdrawals Closing Three Other Banks Cause for Crash. Omaha, and excited crowds intent on their savings, the leadbanks Omaha today tossed the regular Saturday closing hour of noon, discard would remain open throughout the day satisfy depositors wishing withdraw their funds. The upon the banks started full fury today with that the Union State Bank Omaha had closed safeguard depositors." the fourth bank Omaha to close since Monday created by the three previous closing blamed for closing Union State bank the closbanks members of the State Bank With the announcement that the larger banks were prepared meet plenty cash hand, crowds milling about entrances thinned little and the tension seemed broken. Aug Union State Bank Omaha suspended today treat all patrons fairly possible, officials being re-open early date, and the state department trade and commerce On June the time of its last the bank deposits of capitalized $200,and had surplus of $40,000. Union State bank the fourth Omaha bank close within the past State Bank of Omaha and the Bank and the South Omaha closed yesterday. Aid Depositors George bank issued the following regarding Union State Union State Bank Omaha business The partment trade and commerce charge assets protect interests. Examiner charge president of the bank three banks the city during the could patrons fairly possible deemed payments being worked upon bank early According Joseph attorney the there Monday after closing State Bank Omaha, but withdaily until closing of the South Omaha State bank, there another the cash reserve below the legal

5. August 15, 1931 Norfolk Daily News Norfolk, NE
Article from Norfolk Daily News, August 15, 1931

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PLANS BEING MADE TO REOPEN INSTITUTION AT EARLY DATE Omaha, Aug. by milling excited crowds intent their savings, the leading banks Omaha today ed the regular Saturday closing hour of noon, into the discard and announced they would remain open day satisfy depositors wishing withdraw their' funds. The run on the larger banks started in full fury early today with the that the Union State bank of Omaha had closed "to It was the fourth in Omaha close since Monday. run created by the three previous closings blamed the closing of the Union State bank. All the closed banks were members of the state bank assoWith the announcement that the larger banks were prepared the with plenty of cash on hand. the crowds milling about the thinned little and the tension seemed broken. On June 30, the time of its report, bank deposits It was capitalized $200,000 and had surplus of $40, 000. The Union State bank is the tourth Omaha bank close within the past week. State Bank Omaha and the Farmers and Merchants Bank of Benson closed Monday and the South Omaha state bank yesterday. George W. Woods, state bank commissioner, issued the following regarding the Union State bank: Union State bank of Omaha suspends business today. The trade and commerce has taken charge conserve asand protect all interests. Lau is in charge. "F. president of the bank, that suspension three other banks in the city dur ing the week has caused an unprecedented which could not be immediately withstood. To treat all patrons fairly possible was deemed best to suspend payments.' "Plans being worked upon to re-open the bank an early date." According Joseph Votava, attorney for the bank, there heavy run Monday after closing the State Bank Omaha, but dwindled daily until yesterday. Then, after closing of the South Omaha State bank, there was another heavy run and the cash reserve was cut below the legal

6. August 15, 1931 Daily American Republic Poplar Bluff, MO
Article from Daily American Republic, August 15, 1931

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Article Text

SUSPENDS BUSINESS By The Associated Press. Omaha, Neb., Aug. Union State Bank of Omaha today suspended business to safeguard depositors, officials of the state banking department said. The Union State was the fourth Omaha bank to close since Monday. Heavy runs on the bank, caused by the closing of the other institutions, was responsible for the closing. The last report of the bank listed deposits of $1,700,000. was capitalized at $200,000 and had reserve of $40,000. Alyce Nichols, director National Broadcasting company auditions, estimates that only one to three percent of persons making trials ever get on the air.

7. August 16, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, August 16, 1931

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HEARINGS ARE SET. I. C. C. To Inquire Into Railrond Terminal Services. Washington, August larger railroads of the country were notified by the Interstate Commerce Commission today that they must ex. plain their practices regarding termigranted industrial plants This phase part of the investiga tion of railroad prac. tices the commission announced six weeks ago after the railroads had asked rate increase Hearings on this question will be held at Boston, September 15; New York, 22 to 30; Buffalo October 20 23; Detroit. October 26 to 30; Cincinnati, November 2 to 7: Chicago, November 10 to 24. FOURTH BANK CLOSES Omaha, Neb., August The Union State Bank of Omaha today business to safeguard officials of the State Banking Department said. The Union State was the fourth Omaha bank to since Monday. Heavy runs on the bank, caused by the closing of the other institutions was responsible for the closing. The last report of the bank listed deposits of $1,700,000. was capitalized at 200,000, and had a reserve of $40,000.

8. August 16, 1931 Leader-Telegram Eau Claire, WI
Article from Leader-Telegram, August 16, 1931

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Omaha Bank Closed to Safeguard Depositors OMAHA, Aug. Union State bank of Omaha today business order safeguard depositors, officials of the state bankThe UnState the fourth Omaha bank close since Monday. Heavy runs the bank, caused the closing the other were blamthe closing the Union State bank. The last report the bank listed deposits of capitalized $200,000 and had reserve $40,000.

9. August 16, 1931 Beatrice Daily Sun Beatrice, NE
Article from Beatrice Daily Sun, August 16, 1931

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STATE SUSPENDS Fourth Institution Affected By Heavy With- PLAN TO REOPEN AT EARLY DATE OMAHA, Aug. 15. milling excited crowds intent on withdrawing their savings, the leading banks Omaha today tossed regular Saturday closing hour of noon, into the disand announced they would remain satisfy depositors wishing to withdraw their funds. The run upon the larger banks started in full fury early tothat Union State bank of Omaha had closed "to safeguard deposiIt was the fourth bank in Omaha to close since Monday. With the announcement that the larger banks were prepared meet the with plenty of cash on hand. the crowds milling about the entrances thinned tle and the seemed broken. Union State bank of Omaha pended business today. "to treat all patrons as fairly as officials announced. Plans being early date, and in the the state department of trade in charge. On June time last report, the bank had posits was capitalized at and had surplus of $40,000. Could Not Meet 'Run' The Union State bank the fourth Omaha bank close withthe week. The State bank past Omaha and the Farmers Merchants bank Benson closed Monday and the South Omaha State bank closed yesterday. George W. Woods, state bank issued the following statement regarding the Union State Horacek, president of the bank, states suspension three other banks in the city the week caused an during withdrawal run which could not be immediately withstood. To treat all patrons fairly possible was deembest to suspend payments." 1,000 At Meeting 15 imately persons met here last night for discussion of ways and means of reopening the mers Merchants bank of Benwhich closed last Monday after failure of the State bank of Omaha. Those in the Benson bank voted sign release to allot certain amount of the bank's deposits to be posted for use in building the legal reserve. State officials later today vealed that the the four this week totalas total resources Omaha banks. H. Rodgers of Lincoln was visitor in the yesterday.

10. August 16, 1931 The Capital Times Madison, WI
Article from The Capital Times, August 16, 1931

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Fourth Omaha Bank Is Closed in Week OMAHA -(P)- The Union State bank of Omaha Saturday suspended business in order to safeguard depositors, officials of the state banking department announced The Union State is the fourth Omaha bank to close in a week. Heavy runs on the bank, caused by the closing of the other institutions, were blamed for the closing of the Union State bank. The last report of the bank listed deposits of $1,700,000 CLOSE SHAVE FRIEND Your husband has his hair clipped very close. WIFE: Yes, the coward.-Answers. The largest bird is the ostrich, which stands nearly eight feet tall and weighs about 300 pounds

11. August 16, 1931 The Cincinnati Enquirer Cincinnati, OH
Article from The Cincinnati Enquirer, August 16, 1931

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HEARINGS ARE SET. I. C. C. To Inquire Into Railroad Terminal Services Washington, August larger railroads of the country notified by the Interstate Commerce Commission today that they must ex. plain their practices regarding terminal services granted industrial plants. This phase part of the investigation railroad management practices the announced six weeks ago after the railroads had asked rate increase. on this question will be held at Boston, 15; New to 30; Buffalo, October 20 to 23; Detroit, October to 30; to 7; Chicago, November 10 to 24. FOURTH BANK CLOSES. Omaha, Neb., August The Union State Bank of Omaha today suspended business safeguard depositors, officials the State Banking Department said. The Union State the fourth Omaha bank to since Monday. Heavy runs on the bank, caused by the closing of other institutions, was responfor the closing. last report the listed deposits of

12. August 17, 1931 The Austin Daily Herald Austin, MN
Article from The Austin Daily Herald, August 17, 1931

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Runs Force Closing Of Omaha State Bank Omaha, Neb., Aug. 17 Union State Bank here Saturday suspended business in order to safeguard depositors, officials of the state banking department announced. The Union State is the fourth Omaha bank to close since Monday. Heavy runs on the bank, caused by the clos-

13. August 17, 1931 Brooklyn Eagle Brooklyn, NY
Article from Brooklyn Eagle, August 17, 1931

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Deposits Heads of 100 Smaller Institutions Meet to Avert Disaster to Rural Houses Toledo, Toledo banks with of failed for business this ing ceased of deposits during the present financial situation. closing of the Commerce Guardian Trust Savings Bank, the Ohio Savings Trust and the Savings Bank and Trust Company. American Bank, announced yesterday that also would Tied Up The four closings tied up for indefinite period more than deposits. The National the Toledo Trust Company, the Spitzerroric Trust Savings Bank and the West Toledo National open usual today. The Morris Plan and the dustrial Bank also open. There disorders when banks affected the closings opened. Heads of country banks Ohio met Ira Fulton, Ohio in an to work out plans whereby they will not forced to close. Run Closes Omaha Bank Omaha, Aug. Union State Bank Omaha closed doors due caused failure other banks Omaha Union State capital deposits and plus

14. August 22, 1931 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, August 22, 1931

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GOVERNOR APPOINTS RECEIVERS OF BANKS GEORGE E. HALL TO HAVE STATE BANK OMAHA. Bryan Says That Efficiency and Not Locality or Politics Control Choice. Governor Bryan announced apant receivers recently failde pointment the following assiststate banks: George E. Hall, Lincoln, State bank Omaha. Barak, Petersburg, South Omaha State bank. Haase, Norfolk, Farmers Merchants, Benson. W. M. Whalen, Lincoln, First State bank, Reif, Bloomfield, Leigh State Brozek, Chadron, Bruno State Bruno, and bank of Wisda, Ord, Butler County State bank, David City. Ruzicka, Schuyler, Dwight State bank, Dwight. Lincoln, State examiner in charge of Union State bank, Omaha. Secretary Luikart of the department of and ceiver of all state banks and the will as his assistants in liquidating the failed banks under their charge. M. Morrisey, former chief justice, had been appointed for receiver the State Bank of Omaha, Eugene O'Sullivan, attorney for the receiver the South Omaha State bank, Harland Mossman for the Union State and Howard Saxton for the Farmers and Merchants bank of Benson. These attorneys all reside in Omaha. Governor Bryan announcing said policy the of and use the efficient receivers the staff rather than to make local political The appointees are now charge of banks and have shown liquidating for the benefit depositors, said the governor. He stated that he had received letters some petitions in one day written in the interests one but had thought not the best interests the depositors to appoint the man. "These assistant receivers are skilled bankers, said Governor Bryan, "and have their present works so arranged that others can take their places these highly trained men assume duties where.' Most of the attorneys appointed (Continued on Page 5.)

15. August 22, 1931 The Lincoln Star Lincoln, NE
Article from The Lincoln Star, August 22, 1931

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BRYAN APPOINTS BANK RECEIVERS (Continued from One.) know the political affiliations most those on three the newly appointed assistare democrats, but Bryan ttat their and bank matters, their politics, which caused them to be selected. Move to Reopen Two Banks. Advices from Omaha are that tive efforts are being made organize reopen Union State bank Omaha and the Farmers' Merchants bank Benson, suburban community that city, with good prospects In order to do this it will be necessary that the stock tirely in ditional amounts for provide sufficient assure depositors repayment. Restrictions put on deposits, however, part of the money man remainder being left in for specified periods time. Provision will also have to be made take care accrued debtedness the banks state guaranty fund and the final which an equal the case the Union State bank Omaha fund debtedness about Should bank rehabilitated and several of the baanks Butler, Seward Colfax counties which had their reserves in reopen, since tied up may their troubles were primarily due to the closing of the Omaha institution.

16. August 22, 1931 Lincoln Journal Star Lincoln, NE
Article from Lincoln Journal Star, August 22, 1931

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Walls GOVERNOR APPOINTS Given Charge Here RECEIVERS OF BANKS GEORGE E. HALL TO HAVE STATE BANK OMAHA. Bryan Says That Efficiency and Not Locality or Politics Control Choice. Governor Bryan announced ant receivers recently failde pointment the following assiststate banks: George Hall, Lincoln, State Omaha. Barak, Petersburg, South Omaha State bank. Haase, Norfolk, Farmers Rev. Mr. Walls, has been Merchants, Benson. W. Whalen, Lincoln, First appointed pastor of First Free Methodist church Lincoln, State bank, Reif, Bloomfield, Leigh comes here Ponca City, Okl. making home 2710 State bank, Brozek, Chadron, Bruno Orchard. Rev. Mr. Walls succeeds Wolcott State bank, Bruno, and bank as pastor Lincoln the latter Brainard, Brainard. Wisda, Ord, Butler County ing to Nebraska City. State bank, David City. Ruzicka, Schuyler, Dwight State bank, Dwight. Law, Lincoln, State aminer in charge of Union State bank, Omaha. Secretary Luikart of the department of trade and commerce ceiver of all failed state banks and the appointees serve his sistants liquidating the failed banks under their charge. M. Morrisey, former chief justice, had previously been appointed attorney for the receiver of the State Bank of Omaha, Eugene O'Sullivan, attorney receiver of the South Omaha State bank, Harland Mossman for the Union State and Howard Saxton for the Farmers and Merchants bank Benson. These attorneys reside in Omaha. Governor Bryan in announcing choice bank said it was the policy of the partment of and commerce use the most efficient receivers on the rather than to make local political The are now assistants new charge of banks and have shown for the benefit depositors, said the governor. He stated that he had received letters some petitions in one day written in the interests man, but he had thought not to the best interests of the depositors to appoint man. "These assistant receivers are skilled bankers, said Governor Bryan, "and have their present works arranged that others take their places and these highly trained men assume duties elsewhere." Most of the attorneys appointed (Continued on Page 5.)

17. September 17, 1931 The People's Banner David City, NE
Article from The People's Banner, September 17, 1931

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OMAHA BANK TO REOPEN A few days ago Omaha and Lincoln newspapers reported a meeting of the stockholders of the Union State bank of Omaha at which arrangements were made that seemed to insure the reopening of the bank. The stockholders planned to put about $175,000 of new money into the bank. The plan required depositors to agree to a withdrawal plan that would enable the bank to pay depositors by degrees. Quoting in substance from the newspaper articles: The bank was sponsored by Czeçhoslovakians. Examiners found the bank in splendid condition. The suspension August 15 was caused by a run on the bank. President Frank C. Horacek and other officers have agreed to accept a fifty per cent salary cut until normal conditions return to the bank.

18. September 17, 1931 The People's Banner David City, NE
Article from The People's Banner, September 17, 1931

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COUNTY EXCHANGES Rising City Independent The Morgan children were all home over the week end and a delightful family reunion was enjoyed in the parental home. On Wednesday evening the Rising City band played their last concert for the year. The boys have been very faithful during the summer and have entertained hundreds of people at their Wednesday evening programs, who will recall with pleasure the evenings spent in listening to the splendid music. Rising City boasts of having a progressive town board, who watches for and makes needed improvements as finances will allow. At the last meeting they decided to grade and gravel the street to the school house, which will be one of the best and most needed improvements that could be made. Mr. and Mrs. Chas. Babb, Dick and Doyle and Max Shrader were Columbus visitors Sunday. While there they were guests of Charles Miller for an airplane ride. The three boys "got a thrill" they will not forget for a long time. What could boys enjoy more than a trip in the air? Brainard Clipper While Mr. and Mrs. Rudolph Osmera were at a party in Brainard Monday evening, someone stole about fifty of their silver lace Wyandotte chickens. John Piitz threshed the crop of alfalfa seed, Tuesday, which his brother-in-law Anton Schmitz, had harvested from about 3½ acres. He tells us that the seed was excellent quality and the yield 38 bushels, or 11 bushels per acre. With the price about $10 per bushel this patch of alfalfa will net Anton a nice piece of money. Joe Pekarek was rather skeptical of Andrew Behne's claim to a stalk of corn with six ears thereon and when Andrew took him out to prove it they discovered one that had ten ears on it. The ears, however, are about like the extra legs usually found on freak many-legged animals most of them being merely a start of an ear with a small cob and a little silk. John Kugler Jr. returned home Tuesday evening after nine months service in Uncle Sam's army, during which time he was stationed at Ft. Logan, Colo., and in the Hawaiian Islands. John says he has had enough army life to satisfy him for time. Considerable effort has been put forth by the former officers and directors of the Brainard State Bank and other persons interested in the re-organization of that institution and we are reliably informed that the prospects are quite promising. The re-opening of the Union State Bank of Omaha seems to be practically assured, anl its opening would release the money which our local has on deposit there and materially assist with re-organization. Bellwood Gazette Miss Mabel Graves, daughter of Mr. and Mrs. Virgil Graves, was united in marriage to Mr. Joseph Keller at Schuyler, on Wednesday. Mrs. J. Carpenter who has been seriously ill since being removed last Thursday to the home- of "her daughter, Mrs. Cecil Hall, is reported now slowly improving. Miss Gussie Kircher, who has been spending the summer with her broter, Joe Kirchner and family at Alliance returned home Monday. She also visited her sister, Mrs. A. Janicek, and family at Kimball. The Dist. 13 L. F. B. club ladies treated their husbands and families to a pienic at Pawnee park last Sunday. A general pienic dinner was served at noon to which all did full justice. The afternoon was pleasantly spent in visiting. All but three families were present.

19. November 12, 1931 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, November 12, 1931

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Union State Bank Will Reopen on Next Monday The Union State bank, one of four state banks here during will reopen under its past charter summer, on Monday, directors $200,nounced today. An subscribed to make reor000 Reorganizers possible. are Horacek, D. Sloboda, Koutsky, Frank Riha and Yousem. plan met with the full reorganization satisfaction state banking department, it was announced.