Union State Bank - Omaha, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 1, 1931*
Location: Omaha, Nebraska (41.259, -95.938)

Metadata

Model: gpt-5-mini
Short Digest: 319d1d5b

Response Measures

None

Description

No evidence of a depositor run in the articles. The state bank examiner took over the bank in May 1934 to operate it pending final liquidation; a receiver was appointed and ordered sale of remaining assets in September 1934. The bank had an earlier suspension in August 1931 and reopened about three months later (included as separate events).

Events (5)

1. August 1, 1931* Suspension

Cause Details: Bank closed in August 1931 as part of a wave in which several local state banks suspended; article does not attribute closure to a specific rumor or insolvency in this text.
Newspaper Excerpt: In August, 1931, the bank was closed...and was re-opened three months later.
Source: newspapers

2. November 1, 1931* Reopening

Newspaper Excerpt: and was re-opened three months later Robb explained the department is seeking to get every state bank out from under restrictions, designed to protect depositors, or to liquidate the banks.
Source: newspapers

3. May 17, 1934 Suspension

Cause: Government Action
Cause Details: State bank examiner took possession and the Department of Banking operated the bank pending liquidation; part of the bank to be placed in receivership.
Newspaper Excerpt: W. Robb, state bank examiner, Thursday morning took over the Union State bank at 19th and Farnam Sts....first step to close the bank for final liquidation.
Source: newspapers

4. September 26, 1934 Receivership

Newspaper Excerpt: Notice is hereby given by virtue of an order of sale duly made and entered ... on the 26th day of September, 1934, that the undersigned receiver will sell ... the entire remaining assets of said bank ... DEPARTMENT OF BANKING, Receiver and Liquidating Agent of the Union State Bank, Omaha, Nebraska E. H. LUIKART, Superintendent of Banks. Sept. 28 Oct
Source: newspapers

5. December 22, 1934 Other

Newspaper Excerpt: 'Union' Depositors Urge Sale To Missouri Valley; Decry Liquidation — Attorneys for depositors criticized the state banking department and asked that sale to Missouri Valley be confirmed; department resisted, saying depositors get more via liquidation.
Source: newspapers

Newspaper Articles (5)

1. May 17, 1934 The Omaha Evening Bee-News Omaha, NE

Article from The Omaha Evening Bee-News, May 17, 1934

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UNION STATE BANK OPERATED BY EXAMINER W. Robb, state bank examiner. Thursday morning took over the Union State bank at 19th and Farnam Sts. in what Merle Foster. assistant state banking superintendent at Lincoln, announced was first step to close the bank for final liquidation Foster was quoted by the Assoclated Press as saying part of the bank operating on an unrestricted basis will pay out in full, and that part operating on a restricted basis will be placed in receivership to complete liquidation The bank will continue to be operated by the hanking depart ment until liquidation is completRobb said The bank has $166,000 In new accounts, opened since November 1931, and all money in such accounts will be returned to depositors on demand, Robb said. In August, 1931, the bank was closed. during the same week that the State Bank of Omaha, the Benson State bank and the South Omaha State bank suspended operations. and was re-opened three months later Robb explained the department is seeking to get every state bank out from under restrictions, designed to protect depositors, or to liquidate the banks F. Horacek president of the bank since 1917 said the bank has 500 and that 78 per cent has been paid out on the old accounts number of old depositors, be said have opened accounts The bank is capitalized at

2. May 18, 1934 The Omaha Morning Bee-News Omaha, NE

Article from The Omaha Morning Bee-News, May 18, 1934

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UNION STATE BANK OPERATED BY EXAMINER Unrestricted Operations Will Pay in Full, Official Says; Final Liquidation Predicted R. W. Robb, state bank examIner, Thursday morning took over the Union State bank at 19th and Farnam Sts., in what Merle Foster. assistant state banking superintendent at Lincoln, announced was first step to close the bank for final liquidation Foster quoted by the Assoclated Press as saying part of the bank operating on an unrestricted basis will pay out in full, and that part operating on a restricted basis will be placed in receivership to complete liquidation. The bank will continue to be operated by the banking department until liquidation is completed. Robb said. The bank has $166,000 in new accounts, opened since November, 1931. and all money in such accounts will be returned to depositors on demand, Robb said. In August, 1931. the bank was closed, during the same week that the State Bank of Omaha. the Benson State bank and the South Omaha State bank suspended operations, and was re-opened three months later. Robb explained the department is seeking to get every state bank out from under restrictions, designed to protect depositors, or to liquidate the banks. F. C. Horacek, president of the bank since 1917. said the bank has 4,500 depositors, and that 78 per cent has been paid out on the old accounts. A number of old depositors, he said, have opened new accounts. The bank is capitalized at $200,000.

3. October 2, 1934 The South Omaha Sun Omaha, NE

Article from The South Omaha Sun, October 2, 1934

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Carl Katleman, Atty. 123 So. St. Notice of Administration In the County Court of Douglas County, Nebraska In the Matter of the Estate of Morris L. Goldenberg, Deceased. All persons interested in said estate are hereby notified that petition has been filed in said Court alleging that said de ceased died leaving no last will and praying for administartion upon his estate, and that hearing will be had on said tition before said court on 11th day of October, 1934, and that if they fail to appear at said Court on the said 11th day of October, 1934, at o'clock M. to contest said petition, the Court may grant the same and grant administration of said estate to Minnie S. Goldenberg or some other suitable person and proceed to a settlement thereoef. BRYCE CRAWFORD, Cp18-250c2 County Judge. are: Cu. Yds. Excavation 71,520 Sq. Yds. Concrete Base Course. 22,920 Sq. Yds. Concrete Base Course 21,100 Sq. Yds. Relaying Brick Surface Course. 1,830 Sq. Yds. Brick Surface Course. 18,230 Sq. Yds. Removal Concrete Base Course 23,450 Sq. Yds. Removal Brick Surface Course 20,510 Lin. Ft. Removal Concrete Curb. 278 Cu. Yds. Concrete for Paving Approaches. 28,000 Lbs. Reinforcing Steel for Paving Approaches 366 Cu. Yds. Class "A" Concrete for Box Culverts and Headwalls 30,000 Lbs. Reinforcing Steel for Box Culverts and Headwalls 184 Lin. Ft. 24" Reinforced Concrete Pipe 240 Lin. Ft. 42" Reinforced Concrete Pipe 12 Lin. Ft. 24" Corrugated Metal Pipe 28 Lin Ft. 36" Corrugated Metal Pipe 190 Lin. Ft. 42" Corrugated Metal Pipe 260 Lin. Ft. 24" Culvert Pipe 52 Lin. Ft. 42" Culvert Pipe 32 Lin. Ft. 18" Culvert Pipe for Driveways 32 Lin. Ft. 24" Culvert Pipe for Driveways. Viaduct at Station 319x76 One Deck Steel Girder Viaduct, 161' Long. Bridge at Station 326x63 1-64' and 2-50' Spans, Deck Steel Girder Bridge. A certificate of compliance on the prescribed form which will be furnished for that purpose shall be signed and submitted by all bidders, in accordance with Executive order No. 6646, issued by the President on March 14, 1934. Only bids companied by such certificate shall be considered or accepted. The contractor to whom award made shall require subcontractors and dealers furnishing equipment, materials, and supplies to sign similar certificates before making awards to purchases from such subcontractors dealers, copies which shall be furnished to the contracting office. The attention of bidders is rected to the Special Provisions covering subletting or assigning the contract and to the use of Domestic Materials. The minimum wage paid to all skilled labor employed on this contract shall be seventy(75) cents per hour. The minimum wake paid to intermediate labor employed this contract shall be sixty cents per hour. The minmium wage paid to unskilled labor employed on this contract shall be forty-five cents per hour The attention of bidders is ilso directed to the fact that State Director Reemployment, Lincoln, Nebraska, vill exercise general supervision over the preparation of imployment lists for this work. Plans and specifications for the work may be seen and inCormation secured at the office the County Clerk at Omaha, or at the office of the Department of Roads and rrigation at Lincoln, Nebraska. The successful bidder will be required to furnish bond in an amount equal to 100% of his contract. As an evidence of good faith in submitting proposal for this work or for any portion hereof as provided in the bidling blank, the bidder shall lile with his proposal, certified check made payable to the Department of Roads and Irrigation and in an amount not less than the total amount, deermined from the following list for any group of items or collection of groups of items for which the bid is submitted. Pavement Items, Thousand (15,000) dollars Bridge Items, Fifteen Hundred (1,500) dollars Viaduct Items Fourteen Hundred dollars. The right is reserved to waive all technicalities and reject any or all bids. OF ROADS AND IRRIGATION. LOBDELL, Acting State Engineer. Grace Berger, County Clerk, Douglas County. Notice of Sale of Remaining Assets of Union State Bank, Omaha, Douglas County, Nebraska. In the District Court of Douglas County, Nebraska. In the Matter of the Union State Bank, Omaha, Nebraska, Insolvent. Notice is hereby given by virtue of an order of sale duly made and entered in the above entitled cause by the Hon. Jas Fitzgerald, Judge of the District Court of the Fourth Judicial District of Nebraska, held within and for Douglas County, Nebraska, on the 26th day of September, 1934, that the undersigned receiver will sell at the former bank building in Omaha, Douglas County, Nebraska, at o'clock on the 17th day of October, 1934, the following described property, being the entire remaining assets of said bank, including contingent claims against stockholdof said bank, after assets are exhausted. to-wit: BILLS RECEIVABLE: Being note of various persons for different amounts, totaling approximately $263,004.78 (Subject to any offsets to be established). BONDS, STOCKS & RANTS Being various bonds stocks and warrants of different companies as fully listed and itemized in Exhibit "A" of application of Receiver to sell the assets of said bank, now on file in the District Court of Douglas County, Nebraska. AND FIXTURES: All the furniture and fixtures will be offered for sale. There will also be offered for sale one monument. JUDGMENTS Frank Roh, et al, 3-28-32 Dist Crt. of Butler Co., vs. John Polocek, dated 8-12-31, $750. Claim of Anderson Merle W. Reese, $94.63. LIFE INSURANCE POLICIES: Bankers Reserve Life Co., Omaha, No. 117495, on Frank C. Horacek, $10,000 vor Union State Bank, Omaha, subject to loan of $1,056.30 premium $482 paid 2-11-34. United Benefit Life Ins. Co., Omaha, No. 41325, on Frank Horacek, Sr., $25,000 favor Union State Bank, subject to loan of $900, premium paid 2-9-35. Massachusetts Mutual Life Ins. Co., Springfield, Mass., No. 832463, on Emil Kavalec, favor Union State Bank, Omaha, subject to automatic premium loan. REAL ESTATE: Undivided interest in East feet of Lot all Block Omaha, Nebraska, subject encumbrances of record. E½ 3-30-14 Holt County. Reported to be clear fo encumbrances except 1933 taxes. County, Iowa. Subject to encumbrances of record. All real estate to be sold OTHER ASSETS: Tomes, Geo. charged off note, $700. Thompson, & Nellie, rent note, $38. Gorgen, Frank Bertha, Bal. due on real estate contract, $700. STOCKHOLDER'S CONSTITUTIONAL LIABILITY: All right, title and interest in and to the contingent claims for constitutional double liability against stockholders of the Union State Bank, Omaha, Nebraska, under the provisions of Sec. of Article XII of the Constitution of the State of Nebraska, and other provisions of said constitution and the laws of said state, to include the right to commence, maintain and prosecute any suitable action, either in law or in equity for the collection thereof, in any cuort or courts of competent jurisdiction, in the name of the receiver, in the name of the assignee of said claims, or the name of the successors of said assignee, with full and complete subrogation of the rights of the receiver and the rights of the creditors of said bank in said action, said contingent claims for constitutional liability of stockholders being as follows, to-wit: All of the double liability of all stockholders of said bank as fully listed and itemized in Exhibit attached to the application of the receiver to sell the assets of said bank now on file in the District Court of Douglas CounNebraska. The above list of assets subject to any change before time of sale. The above assets will be offered both separately and also as whole. Full lists of note, judgments and other assets will found in the office of the Clerk of the District Court of said county, and all notes subject to inspection at the fice of the Receivership vision of the Department Banking of the State of braska, in the State House, Lincoln, Nebraska. All property herein adver tised for sale is subject to dation prior to date of sale. Application to confirm sale will be made to the court after date of sale. Said sale shall be for by law provided. Dated this 26th day of tember, 1934. DEPARTMENT OF Receiver and Liquidating Agent of the State Bank, Omaha, braska by E. H. Superintendent of Banks. Sept. 28 Oct The engagement of Lou is, son of Mr and Mrs. to Sarah Tucker, daughter Mrs. Ethel Tucker, has been nounced. No date has been for the wedding.

4. October 5, 1934 The South Omaha Sun Omaha, NE

Article from The South Omaha Sun, October 5, 1934

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entitled cause by the Hon. Jas. Fitzgerald, Judge of the Distriet Court of the Fourth Judicial District of Nebraska, held within and for Douglas County, Nebraska, the 26th day of September, 1934, that the unlersigned receiver will sell at former bank building in maha, Douglas County, Nebraska, o'clock on the 17th day October, 1934, the foldescribed property, bethe entire remaining assets said bank, including continclaims against stockhold. of said bank, after assets exhausted BILLS note of various persons amounts, totaling $263,004. offsets to be estabRANTS: Being various bonds tocks and warrants of nt companies as fully nd itemized in Exhibit of application of Receiver to sell the assets of said bank, now on file in the District Court Douglas County, Nebraska. AND TURES: All the furniture and istures will be offered for sale. There will also be offered for one monument. JUDGMENTS: Frank Roh, et Dist Crt. of Butler Co., $19,980.12 vs. John Polocek, dated 8-12-31, $750. Claim of A. Anderson Merle W. Reese, LIFE INSURANCE POLICIES Bankers Reserve Life Omaha, No. 117495, Frank C. Horacek, $10,000 Union State Bank, Omaha, mbject loan of $1,056.30 premium $482 paid United Benefit Life Ins. Co., Omaha, No. 41325, on Frank Horacek, Sr., $25,000 favor Union State Bank, subject to loan of, premium paid Massachusetts Mutual Life Ins. Co., Springfield, Mass., No. 832463, Emil Kavalec, favor Union State Bank, Omaha, subject to automatic premium loan. REAL ESTATE: Undivided interest in East feet of Lot and all Block 114, City of Omaha, Nebraska, subject to encumbrances of record. for ported fo encumfor brances except 1933 taxes. County, Iowa. Subject to record. All real estate to be sold OTHER ASSETS: Tomes, Geo. charged off note, $700. Thompson, Nellie, rent note, $38. Gorgen, Frank Bertha, Bal. due on real estate $700. STOCKHOLDER'S CONSTI TUTIONAL LIABILITY All right, title and interest in and to the contingent claims for constitutional double liability against stockholders of the Union State Bank, Omaha, Nebraska, under the provisions Sec. of Article XII of the stitution of the State of Nebraska, and other provisions of said constitution and the laws of said state, to include the right to commence, maintain and prosecute any suitable action, either in law or in equity for the collection thereof, in any cuort or courts of competent jurisdiction, in the name of the receiver, or in the name of the assignee of claims, or the name the successors of said assignee, with full and complete subrogation of the rights of the receiver and the rights of the of said bank in said contingent claims for constitutional liability of tockholders being as follows, All of the double liability all stockholdof said bank as fully listed and itemized in Exhibit attached to the application of he receiver to sell the assets said bank, on file in the District Court of Douglas CounThe list of assets subject change before time The above assets will be [ered both separately and also as whole. Full lists of note, and other assets will found in the office of the Clerk of the District Court said county, and all notes are subject to inspection at the fice of the Receivership Division of Department of Banking of the State of No. braska, in the at Lincoln, Nebraska. All property herein adverised for sale is subject to liquidation prior to date of sale. to confirm said Application will be made the date of sale. Said sale shall be for cash. law provided. Dated this day of September, 1934. DEPARTMENT OF BANKING, Receiver and Liquidatof the Union ing Agent State Bank, Omaha, Nebraska E. H. LUIKART, by Superintendent of Banks. Sept. 28 Oct Notice to Contractors Sealed bids will be received of the office of the Department Irrigation in the Roads and Lincoln, NeState House at braska, October 18, 1934, 10 o'clock and until that time publicly opened and read for PAVING ONE VIADUCT, ONE BRIDGE and incidental work on the OMAHAELKHORN PROWORKS JECTS NOS. NRH-20-A 1935) and NRHFEDERAL AID ROAD. The proposed work consists 4.9 miles of PAVED ROAD. The approximate quantities Cu. Yds. Excavation Yds. Concrete Base Sq. Course. 22,920 Yds. Concrete Base Sq. Course 21,100 Sq. Yds. Relaying Brick Surface Course. 1,830 Sq. Yds. Brick Surface Course. 18,230 Yds. Removal Concrete Base Course Sq. Yds. Removal Brick Surface Course 20,510 Lin. Ft. Removal ConCurb. 278 Cu. Yds. Concrete for Paving Approaches. 28,000 Lbs. Reinforcing Steel for Paving Approaches 366 Cu. Yds. Class Concrete for Box Culverts and Headwalls 30,000 Lbs: Reinforcing Stee for Box Culverts and Headwalls 184 Lin. 24" Reinforced Concrete Pipe 240 Lin. 42" Reinforced Concrete Pipe 12 Lin. Ft. 24" Corrugated Metal Pipe 28 Lin Ft. 36" Corrugated Metal Pipe 190 Lin. Ft. 42" Corrugated Metal Pipe 260 Lin. Ft. 24" Culvert Pipe 52 Lin. Ft. 42" Culvert Pipe 32 Lin. Ft. 18" Culvert Pipe Driveways 32 Lin. Ft. 24" Culvert Pip Driveways. Viaduct at Station 319x76 One Deck Steel Girder Viaduct, 161' Long. Bridge at Station 326x63 1-64 and 2-50' Spans, Deck Steel Girder Bridge. A certificate of compliance or the prescribed form which will be furnished for that purpose shall be signed and submitted by all bidders, in accordance with Executive order No. 6646 issued by the President 01 March 14, 1934. Only companied by such certificate shall be considered or accepted The contractor whom award made shall require subeon tractors and dealers furnishing equipment, materials, and sup plies to sign similar certificate: before making awards to purchases from such subcon tractors dealers, copies which shall be furnished to th contracting office. The attention of bidders is rected to the Special Provision covering subletting or assigning the and to the use Domestic Materials. The minimum wage paid skilled labor employed this contract shall be seventy five 75) cents per hour. The minimum wake paid intermediate labor employed this contract shall be sixty 60) cents hour. The minmium wage paid unskilled labor employed this contract shall be forty-five 45) cents per hour. The attention of bidders also directed to the fact that the State Director Reemployment, Lincoln, will exercise general super vision over the preparation of employment lists for this work Plans and specifications for the work may be seen and information secured at the the County Clerk Omaha, Nebraska, at the office of the Department of Roads and Irrigation at Lincoln, Nebraska The successful bidder will be required to furnish bond an to 100% of his amount contract. As an evidence of good faith submitting proposal for this work or for any portion thereof as provided in the bidding blank, the file, with proposal, fied check made payable to the Department of Roads and Irrigation and in an amount not amount. determined from following list, for any group of items collection of groups items for which the bid submitted. Pavement Items, Thousand (15,000) dollars Bridge Items, Fifteen Hun dred dollars Viaduct Items Fourteen Hun dred (1,400) dollars. The right is reserved to waiv all and reject or all bids. DEPARTMENT OF ROADS AND A. LOBDELL. Acting State Engineer. Grace Berger, County Clerk Douglas County. Benj. Baker and Edward Shafton, Attorneys 504 Insurance Bldg. In the County Court of Doug las County, Nebraska. In the Matter of the of Patrick Dennison, Deceased. To the creditors, and all other persons interested in said estate: You are hereby notified that petition has been filed in this Court on the 25th day of September, 1934, by Geneveve Dennison Boler alleging that Pat rick died on the 23rd day of May, 1931, intestate; that at the time of his death he was resident of Douglas County, Nobraska and that he was possessed of the following described real estate, to-wit: The West thirty ft. of Lot Square in the City Omaha, Douglas County, Nebraska. That said petitioner has interest in said real estate an heir of said deceased said prays that hearing be had on said petiion, that notice thereof be hy law. and that upon said hearing decree of heirship be entered and further administration of said estate be uspensed You therefore notified hat hearing will be had on said petition at the County Court Room of said County, on he 20th day of October, 1934. o'clock M., and that if fail to appear at said time ind place and contest the said etition, the Court may grant he same, enter decree of heirship, and decree that further administration of said estate be dispensed with. BRYCE CRAWFORD, County Judge.

5. December 22, 1934 The Omaha Evening Bee-News Omaha, NE

Article from The Omaha Evening Bee-News, December 22, 1934

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FOUR NATIONS CENSURE STATE MOVE TROOPS BANKING HEADS IN SAAR AREA RECEIVERS Nazi Flags Wave in Defiance Of Edict; Join Forces to Halt Acts of Violence Saar Basin Territory, Dec League of Nations Saar army completely hemmed in the rich mines this disputed area Saturday ready drop the hat pounce upon trouble mak- While thousands of Nazi flags fluttered of homes, apparently defiance League order forbidding the display insignia any the troops of nations moved into the territory and up positions along German and French borders concerted display of flags intended German front protest against the order of the Saar governing commission TANKS BOLL IN troop movements began before sunup Fifteen Italian light tanks passed through the streets shortly after dawn Queen Wilhelmina's proud Holland marine regiment founded in 1665, crossed the border motor trucks as the sun lifted over the horizon. Final contingents of Great Brit ain's main body of 1,300 officers and arrived at noon followed second battalion of Mussolini's crack grenadiers and bat talion Sweden's contingent arrived by truck and took up Mertzig Mettiach, along the German border on the road Trier. STREETS HUM A portion of the British forces Brebach on the French frontier and another to Neuenkirchen the German border The Italians located the highly industrial region along the French 'All day long army trucks and soldiers buzzed about the streets all in preparation for the plebiscite Jan 13, which Saar residents determine their future sovereignty The entire lack enthusiasm for the arrival foreign troops was apparently entirely acceptable League thorities who had been concerned lest the arrival of the internationpatrol made signal for an outbreak of Nazi hostility "Union" Depositors Urge Sale To Missouri Valley; Decry Liquidation Attorneys for depositors of the Union State bank criticized the state banking department for its conduct of receiverships, in hearing Saturday in District Judge W Hastings court. group of depositors was asking that sale the bank Missouri River Co. for be confirmed RESISTS SALE NOW Luikart state bank resisted because he said the depositors get more money through liquidation by his department From May. when the bank Attorney Sam Beber quidators in $8,000, $6,000 in through the mails. The cost liquidation for this period was 84.500." Beber is for the Western Bohemian Fraternal association which had in bank ASKS SALE CONFIRMED Paul Massey attorney for the State Farmers Insurance Co which the bank insisted upon confirmation of the sale. don't want another one of these long, liquidations," been through that before. Massey the insurance company gotten the 90 per cent deposits prom ised when the bank reorganized. he added company expected to get about per more, total per which would satisfy the concern Luikart said the Missouri Valley bid enough, that the assets more than that and that the depositors would profit they waited. Judge Hastings had not noon, heard all the arguments.