Security Bank - Ponca, NE

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 30, 1928
Location: Ponca, Nebraska (42.564, -96.711)

Metadata

Model: gpt-5-mini
Short Digest: 2dca9a34

Response Measures

Full suspension, Books examined

Other: Bank turned over to the State Guarantee Fund Commission; examiner took charge and bank to be reopened as a going concern under commission while affairs are liquidated.

Description

Article reports heavy runs on Saturday and Monday, bank failed to open Tuesday and was turned over to the State Guarantee Fund Commission; a state bank examiner took charge and the bank will be operated by the commission pending liquidation. Exact trigger for the run is not specified in the article, so cause is listed as 'other.' Dates inferred from publication date (May 3, 1928): bank failed to open Tuesday (1928-05-01); runs occurred the preceding Saturday and Monday (1928-04-28 and 1928-04-30).

Events (3)

1. April 30, 1928 Run

Cause Details: Article only states 'unusually heavy run' on prior Saturday and Monday; no specific trigger (rumor, correspondent failure, or scandal) is described.
Measures: Officers decided to turn the institution over to the State Guarantee Fund Commission; state bank examiner took charge.
Newspaper Excerpt: After an unusually heavy run on the bank Saturday and Monday the officers concluded to turn the institutisn over to the State Guarantee Fund Commission.
Source: newspapers

2. May 1, 1928 Suspension

Cause Details: Bank failed to open following heavy withdrawals; subsequently turned over to State Guarantee Fund Commission and taken in charge by a state bank examiner.
Newspaper Excerpt: The Security Bank of Ponca failed to open for business Tuesday morning.
Source: newspapers

3. May 2, 1928 Receivership

Newspaper Excerpt: A state bank examiner took charge of the bank Wednesday morning. ... the bank will be respened as a going concern in charge of the state guarantee fund commission until the affairs of the bank are liquidated. (sic).
Source: newspapers

Newspaper Articles (1)

1. May 3, 1928 Dixon County Advocate Ponca, NE

Article from Dixon County Advocate, May 3, 1928

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Article Text

Security Bank Closed. The Security Bank of Ponca failed to open for business Tuesday morning. After an unusually heavy run on the bank Saturday and Monday the officers concluded to turn the institutisn over to the State Guarantee Fund Commission. A state bank examiner took charge of the bank Wednesday morning. The last statement of this bank, made to the State Banking Bureau at the close of business March 10, 1828, showed loans and discounts to be $337,168.75. Capital stock and surplus, $118,000.00. Deposits, $320,936.97. It is roported that as soon as the examiners have finished their checking, the bank will be respened as a going concern in charge of the state guarantee fund commission until the affairs of the bank are liquidated.