13535. First State Bank (Richfield, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1926*
Location
Richfield, Nebraska (41.108, -96.075)

Metadata

Model
gpt-5-mini
Short Digest
5de80e6f

Response Measures

None

Description

The articles describe the First State Bank of Richfield as already defunct/failed in Sept 1926. Failure followed disappearance of president E. C. Goerke and embezzlement by a former cashier (Glenn Benter). The state guaranty fund commission took charge of the institution and citizens planned to buy the defunct bank. No contemporaneous run is described, so this is classified as a suspension leading to permanent closure/receivership.

Events (3)
1. June 1, 1926* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank became insolvent after disappearance of president E. C. Goerke and discovery of worthless securities placed in by Goerke; later embezzlement by former cashier Glenn Benter was admitted.
Newspaper Excerpt
The bank became Insolvent following the disappearance of E. C. Goerke
Source
newspapers
2. September 6, 1926 Other
Newspaper Excerpt
CITIZENS PLAN TO RUN DEFUNCT RICHFIELD BANK / Plans are being made for 30 citizens of Richfield...to buy the defunct First State Bank of Richfield.
Source
newspapers
3. September 6, 1926 Receivership
Newspaper Excerpt
taken the state guaranty fund commission / defunct First State Bank of Richfield. Neb., to the defunct First State Bank of Ritchfield, said Van E. Peterson, secretary of state guaranty fund commission, upon his return here today from an investigation of the institution.
Source
newspapers

Newspaper Articles (3)
1. September 6, 1926 Fremont Tribune Fremont, NE
Article from Fremont Tribune, September 6, 1926

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Article Text

CITIZENS PLAN TO RUN DEFUNCT RICHFIELD BANK Sept. are being made for 30 citizens of Richfield. Neb., to the defunct First State Bank of Ritchfield. said Van E. Peterson, secretary of state guaranty fund commission, upon Mis return here today from an investigation of the institution. The bank became Insolvent following the disappearance of E. C. Goerke, its A nation wide search for Genrke has been underway several weeks. Peterson said that affairs of the Richfield bank are in good condition with the exception of in worthless securities placed in Georke.

2. September 7, 1926 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, September 7, 1926

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Article Text

Citizens of Richfield Plan to Buy Defunct Bank investigation the institution. The bank president. search has been under way several weeks. Lincoln. Plans being for 30 of Righfield. the defunct First State bank of Peterson said affairs of the Richfield said Van secre- are the ception of worthless securities tary the commishis return here today from an placed in by Goerke sion, upon

3. December 27, 1926 The Plattsmouth Journal Plattsmouth, NE
Article from The Plattsmouth Journal, December 27, 1926

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Article Text

Former Bank Cashier Admits He Embezzled Glenn Benter Gets 10 Years for Five Hundred Dollars From Failed Richfield Bank. Papillion, Neb., Dec. former cashier the First State of Richfield, four south of who was at Schuyler, Neb., warrant charging which was sworn here by County Attorney pleaded guilty today at his preliminary arraignment before CounJudge Wheat. was sentenced this afternoon District Judge James Begley, term of from to ten years. Benter, cousin Goerke, missing former president of both Papillion State bank and the First State bank Richfield, both of which failure summer, left the latter stitution before it was taken the state guaranty fund commission. failed with the crash of the State bank. In the warrant, he was formally cused five hundred this At the time the Richfield bank closed, understood that of funds approximately thirty Benter employ bank went to the his parin Burke, and later When County Attorney Collins of his he signed the complaint based. In his plea of guilty before Judge Wheat, he had no comment to make. Sheriff Olderog of this county to Papillion at today from Omaha where he took him custody from the sheriff at Schuy-