Bank of Polk - Polk, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1929*
Location: Polk, Nebraska (41.077, -97.784)

Metadata

Model: gpt-5-mini
Short Digest: b2af72df

Response Measures

None

Description

Article reports the Bank of Polk was closed by the state banking department in November 1929 after examiners discovered shortages caused by embezzlement by an officer (Raymond L. Cox). No run is mentioned; closure appears to be regulatory (permanent).

Events (1)

1. November 1, 1929* Suspension

Cause: Bank Specific Adverse Info
Cause Details: State bank examiners discovered shortages from embezzlement by officer Raymond L. Cox totaling about $9,000, prompting closure by the state banking department.
Newspaper Excerpt: the funct Bank of Polk, closed the state banking department in November. ... The shortages were discovered by state bank examiners
Source: newspapers

Newspaper Articles (1)

1. December 28, 1929 Nebraska Daily News-Press Nebraska City, NE

Article from Nebraska Daily News-Press, December 28, 1929

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Article Text

CHARGE OFFICER Raymond L. Cox, Polk, Facing Nine Counts of Embezzlement OSCEOLA, Neb., Dec. Raymond Cox, of Polk, was arrested here Thursday night on charge of nine counts of embezzlement totaling $9,000 from the funct Bank of Polk, closed the state banking department in November. His father, Hadley Cox, of York, was president of the bank, but Raymond had been in charge for 20 years. The shortages were discovered by state bank examiners checking over the records and the complaint was filed December 16. Cox was given his freedom on $2,500 bond, furnished by friend and was granted until Jan. enter plea. Cox voluntarily surrendered to county officers Thursday night. County Attorney Stanton, in his complaint, stated that the bank's money was converted to the use of its former officer from June, 1927, to September, 1929, shortly before the time that the bank was closed.