Farmers State Bank - Plymouth, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: August 28, 1930
Location: Plymouth, Nebraska (40.303, -96.989)

Metadata

Model: gpt-5-mini
Short Digest: 00178af7

Response Measures

None

Description

Article reports the Farmers State Bank of Plymouth suspended operations and was taken over by the state examiner to effect a reorganization and reopen. No run is described; suspension is by state department (government action).

Events (1)

1. August 28, 1930 Suspension

Cause: Government Action
Cause Details: Taken over by state department of trade and commerce (examiner A. F. Jorgensen) to effect a reorganization and obtain additional capital so the bank can reopen.
Newspaper Excerpt: The Farmers State Bank of Plymouth suspended operations Friday and was taken over by the state department of trade and commerce by A. F. Jorgensen, examiner of the banking department.
Source: newspapers

Newspaper Articles (1)

1. August 28, 1930 The Fairbury Daily News Fairbury, NE

Article from The Fairbury Daily News, August 28, 1930

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Article Text

PLYMOUTH BANK IS TAKEN OVER BY STATE DEPARTMENT Farmers State Bank Closes Temporarily; May Effect a Reorganization The Farmers State Bank of Plymouth suspended operations Friday and was taken over by the state department of trade and commerce by A. F. Jorgensen, examiner of the banking department. Deposits in June 1929, amounted to about $250,000 at the time the bank closed deposits are said to have been $168,000. Louis Knoche was president of the bank and the directors were H. C. Nispel, H. F. Scheve, George Sandman, John Selk, jr., D. H. Four years the Farmers State Bank bought out the Bank of Plymouth which was the older of the two institutions. The closing of the Farmers' State leaves the town without a bank. It is understood that the bank had been having its difficulties, and stockholders in the bank paid in an assessment last spring to keep it solvent. The bank suspended operations at this time in order to effect a reorganization, with additional capital, and the re-organization is being pushed as rapidly as possible 80 that the bank can open soon.