First National Bank - Plainview, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9504
Charter Number: 9504
Start Date: October 1, 1929*
Location: Plainview, Nebraska (42.350, -97.792)

Metadata

Model: gpt-5-mini
Short Digest: 72f90f17

Response Measures

None

Receivership Details

Depositor recovery rate: 41.1%
Date receivership started: 1928-08-22
Date receivership terminated: 1934-05-28
OCC cause of failure: Economic conditions
Share of assets assessed as good: 30.3%
Share of assets assessed as doubtful: 59.1%
Share of assets assessed as worthless: 10.6%

Description

No run is described in the articles. The bank closed and a receiver was appointed; later the receiver (George Cronkleton) administers dividends. Closure appears permanent (receiver in charge, paying dividends). OCR errors corrected (e.g., dates and garbled lines).

Events (5)

1. August 12, 1909 Chartered

Source: historical_nic

2. August 22, 1928 Receivership

Source: historical_nic

3. October 1, 1929* Suspension

Cause Details: Article states the bank closed reportedly to protect depositors; text is garbled and no clear cause (e.g., insolvency or runs) is given.
Newspaper Excerpt: The bank closed Oct. with the planation that th eaction was taken protect depositors
Source: newspapers

4. October 15, 1931 Receivership

Newspaper Excerpt: The appointment of George Cronkleton receiver the First National Bank Hastings announced ... Cronkleton ... in charge of nine other national banks ... the First National Bank Plainview, ... will take charge of the bank day morning this week. Will Take Charge of Institution On Friday of This Week HANDLES NINE OTHER BANKS Partial Payment of Deposits Will Be Made Earliest tical Date After Thorough Checkup of Banks Affairs. The appointment of George Cronkleton receiver the First National Bank Hastings announced from Washington Wednesday this week and said that Mr. Cronkleton take charge of the bank day morning this week. He at present in charge of nine other national banks in Nebraska, including the First NationBank Coleridge ... the First National Bank Plainview ... Cronkleton has been acting National Bank Receiver middle west ten years. Frank Nelson and his assistants and the complete report the affairs of the institution ready for the when he takes charge. presumed that dividend to the depositors will paid once if funds are available for that purpose.
Source: newspapers

5. March 1, 1934 Other

Newspaper Excerpt: NOTICE TO DEPOSITORS OF THE FIRST BANK OF PLAINVIEW, NEBRASKA NOTICE IS HEREBY GIVEN that the undersigned Receiver the First National Bank of Plainview ... will the pay dividend creditors bank Wednesday, Thursday, and Friday, March ... 1931. Such payment will be made the office Nebraska Securities Corporation, located in the old office of The First National Bank. ... George Cronkleton, Receiver, The First National Bank, Plainview, Nebraska. (This notice published in The Plainview News 1934-03-01.)
Source: newspapers

Newspaper Articles (3)

1. November 4, 1929 Belleville Daily Advocate Belleville, IL

Article from Belleville Daily Advocate, November 4, 1929

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Article Text

300 IN LINE WHEN CLOSED BANK OPENS DOORS Nov More than 300 depositors of the Urbana were in line outside its doors this when the bank opened for the first since Octo check ove their and the contents of their safe deposit Only two or three were allowed at time by Roger Little. state and newly receiver for the bank. Little said that no ities had discovered the and boxes investigated today. State auditors checkthe bank's books The deposithave three months in which file their statements for adjustment their accounts. BANK RECEIVER NAMED Ill., Nov Jensen. Plainview. Neb. been appointed receiver of First National Bank of this city and will take charge tomorrow The bank closed Oct. with the planation that th eaction was taken protect depositors following closing Coll-Grove bank because frozen VISIBLE GRAIN SUPPLY NEW visible supply of American grain shows the changes bushwheat increased els; corn decreased creased rye increased 000; barley decreased NEW YORK COTTON NEW Nov futures closed barely steady points lower: December January 17.80: March spot mid- Corn shelled Shipstuff, cwt Bran, per cwt Oats HAY per per POULTRY Timothy cwt. White corn $1.20@1.28 Hens lbs. and under Cocks Stags Young each Springs, lb. Dark Ducks White Ducks Spring ducks Young geese turkeys 40c Young BUTTER AND EGGS Butter country 50c per Eggs, per dozen

2. October 15, 1931 The Hastings Democrat Hastings, NE

Article from The Hastings Democrat, October 15, 1931

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Article Text

CRONKLETON Will Take Charge of Institution On Friday of This Week HANDLES NINE OTHER BANKS Partial Payment of Deposits Will Be Made Earliest tical Date After Thorough Checkup of Banks Affairs. The appointment of George Cronkleton receiver the First National Bank Hastings announced from Washington Wednesday this week and said that Mr. Cronkleton take charge of the bank day morning this week. He at present in charge of nine other national banks in Nebraska, including the First NationBank Coleridge. the Hartington Bank the Walthill National Bank Walthill, the First National Bank Plainview, the Laurel National Bank Wakefield, the First National Bank of Humphrey, Saunders County National Bank Wahoo, the First National Bank at Elgin. Mr. Cronkleton, when advised of was Coleridge and said he would come to Hastings once and soon he can conveniently do will move his headquarters Cronkleton has been acting National Bank Receiver middle west ten years. His long experience in the work enables him handle the affairs of closed banks rapidly may consistent with good and believed that affairs of the local bank will closed rapidly under management. The work of invoicing the assets the bank has been completed Frank Nelson and his assistants and the complete report the affairs of the institution ready for the when he takes charge. presumed that dividend to the depositors will paid once if funds are available for that purpose.

3. March 1, 1934 The Plainview News Plainview, NE

Article from The Plainview News, March 1, 1934

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Article Text

NOTICE TO DEPOSITORS OF THE FIRST BANK OF PLAINVIEW, NEBRASKA NOTICE IS HEREBY GIVEN that the undersigned Receiver the First National Bank of Plainview, Nebrashis assistant, will the pay dividend creditors bank Wednesday, Thursday, and Friday, March and 1931. Such payment will be made the office Nebraska Securities Corporation, located in the old fice of The First National Bank. will be necessary for claimants to bring their Receiver's Certificates and surrender them to the Receiver when final dividend check paid to them. desired that all dividend checks be delivered within three days, the trust will soon be closed, and undelivered be forwarded to the office of the Comptroller of the at George Cronkleton, Receiver, The First National Bank, 36-2t Plainview, Nebraska.