Snyder State Bank - Snyder, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 20, 1925
Location: Snyder, Nebraska (41.704, -96.789)

Metadata

Model: gpt-5-mini
Short Digest: 798a9c5b

Response Measures

None

Description

The Snyder State Bank was placed under the guaranty fund commission on March 20, 1925 (a government action/supervisory suspension). The 1928 article reports the bank being placed in the hands of a receiver and assets sold — a permanent closure with receiver appointed. The run mentioned in the article refers to the Scribner State Bank, not Snyder.

Events (3)

1. March 20, 1925 Suspension

Cause: Government Action
Cause Details: Bank was taken over and operated by the guaranty fund commission beginning March 20, 1925
Newspaper Excerpt: has been operated by the guaranty fund commission since March 20, 1925
Source: newspapers

2. January 19, 1928 Receivership

Newspaper Excerpt: The Snyder state bank of Snyder which has been operated by the guaranty fund commission since March 20, 1925, has been placed in the hands of a receiver and depositors will receive an additional 20 per cent.
Source: newspapers

3. * Other

Newspaper Excerpt: The commission has sold the bank building and fixtures to the Farmers and Merchants bank of Snyder. ... Depositors will now be paid $33,500 which is an additional 20 percent of their deposits.
Source: newspapers

Newspaper Articles (1)

1. January 19, 1928 The Shelton Clipper Shelton, NE

Article from The Shelton Clipper, January 19, 1928

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Article Text

Receiver Appointed For Snyder Bank The Snyder state bank of Snyder which has been operated by the guaranty fund commission since March 20, 1925, has been placed in the hands of a receiver and depositors will receive an additional 20 per cent. During the operation of this bank by the guaranty fund commission the depositors have received 48 percent. Secretary Peterson of the guaranty fund commission states that the bank had deposits amounting to $314,000 when it was turned over to the commission. The deposits now amount to $165,000. The commission has sold the bank building and fixtures to the Farmers and Merchants bank of Snyder. For the bank building and fixtures the commission received $4,500, also $765 for the conservation fund and $15,685 for notes of the face value of $15,000. Depositors will now be paid $33,500 which is an additional 20 percent of their deposits. There are remaining in the hands of the commission assets of the value of $70,000. The ultimate loss the guaranty fund is estimated at $65,000.-State Journal The Scribner State bank, one of the oldest in that section, was taken over by the state banking commission Monday. Rumors concerning the bank's standing had caused a heavy run Friday and Saturday, and its directors voted to turn the institution over to the state. Lyman Sorensen, state bank examiner is in temporary charge.