American State Bank - Scottsbluff, NE

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: July 16, 1927
Location: Scottsbluff, Nebraska (41.867, -103.667)

Metadata

Model: gpt-5-mini
Short Digest: 4e895188

Response Measures

Full suspension, Books examined

Other: State guaranty fund took over the bank; other local banks extended assistance to mitigate inconvenience to depositors. Receiver possibly to be appointed or liquidation considered by Guarantee Fund Commission.

Description

Newspapers (July 19–22, 1927) report a heavy run Saturday that reduced cash and the bank was closed Monday and taken over by the state guaranty fund. Cause of run described as rumors of difficulty. The state guaranty fund takeover indicates closure/receivership rather than a simple temporary suspension.

Events (3)

1. July 16, 1927 Run

Cause: Rumor Or Misinformation
Cause Details: Heavy run driven by rumors of difficulty at the bank; article explicitly cites rumors of difficulty as causing the withdrawals.
Measures: No specific emergency measures described in articles aside from assistance offered by other local banks to mitigate inconvenience to depositors.
Newspaper Excerpt: RUMORS OF DIFFICULTY RESULT IN RUN ON BANK
Source: newspapers

2. July 18, 1927 Receivership

Newspaper Excerpt: taken over by the state guaranty fund ... The Guarantee Fund Commission has not decided as to whether or not it will run the bank preferring to let a receiver be appointed and liquidate it that way.
Source: newspapers

3. July 18, 1927 Suspension

Cause: Government Action
Cause Details: Bank was closed and taken over by the state guaranty fund (state examiners/guaranty commission involvement).
Newspaper Excerpt: The American State Bank of Scottsbluff was closed Monday morning following rather heavy run Saturday which cut down its available cash resources.
Source: newspapers

Newspaper Articles (3)

1. July 19, 1927 Norfolk Daily News Norfolk, NE

Article from Norfolk Daily News, July 19, 1927

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Article Text

Scottsbluff. American State bank, the largest institutions western Nebraska, doors yesterday morning, taken over the state guaranty fund bank was organized in 1920 Wildy, formerly owner First National bank Hemingford, and Wildy, banker this Deposits totaled $895,221 and loans and discounts amounted shown by its statement June 30. It was capitalized In financial circles the failure the bank was ficient to effect seriously are three other strong in the valley, including the Platte State bank, one the biggest in Nebras-

2. July 22, 1927 The Gering Courier Gering, NE

Article from The Gering Courier, July 22, 1927

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Article Text

BANK CLOSED RUMORS OF DIFFICULTY RESULT IN RUN ON BANK Organized in Scottsbluff About Eight Years and Had $900,000 Deposits Last Report The American State Bank of Scottsbluff was closed Monday morning following rather heavy run Saturday which cut down its available cash resources. The institution showed its last published statement loans the extent of more than one million dollars. Depositors are protected the state guaranty law, and while the closing of the bank cannot fail to serious, not believed that affect general business unusual manner, although mere suspension banking institution in communhas no good effects. Whether will be after state examiners over the situation to reorganize some other method reopen matter of speculation. Officers the bank are Wildy, president; Clinton Wildy. cashier: and Morrison. Wildy and Jens Peterdirectors. Other banks Scottsbluff and surrounding cities extending every assistance possible the closed and depositors general inconvenience beevery mitigated as far as possible. Lyman, brother of Chas. of this city and W. H. Lyman arrived here yesterday from New York for less tended visit. Mr. Lyman has been for the head of the Stanmany years dard Oil interests at Shanghai, China, but retired from the position July visiting Fargo, and will join him here later. Mr. Lyman has visited here before.

3. July 22, 1927 The Petersburg Index Petersburg, NE

Article from The Petersburg Index, July 22, 1927

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Article Text

Over the State A new Lutheran hospital is to be erected in Fremont. The land for the site has been donated and the money is ready for the erection of one of the largest hospitals in the city. It will benear the site of the Lutheran Home Finding Association. The American State of Seottsbluffs, was taken over by the state a few days ago. This is one of the largest institutions in the west, having deposits of about a million dollars. The loss seems to be S) heavy that the Guarantee Fund Commission has not decided as to whether or not it will run the bank preferring to let a receiver be appointed and liquidate it that way. A Bridgeport report is h a t Frank McCannis has built a pen on the side of his car and in it is kept a goat to supply milk for the family while on their vacation. This may makr a new demand for goats Kamensky may yet reap a harvest. The Dalton Co-operative Society which features wheat as its staple trading stock has paid a dividend of 00 to its share holders out of a net earning of over $29,000.