First State Savings Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: March 6, 1914
Location: Superior, Nebraska (40.021, -98.070)

Metadata

Model: gpt-5-mini
Short Digest: deafe9e9

Response Measures

Full suspension

Other: State banking board placed the bank in charge and receiver appointed.

Description

Articles report heavy withdrawals after the failure of the First National Bank of Superior forced the First State Savings Bank to close on March 6, 1914. A receiver was appointed and the bank remained in receivership (no reopening mentioned). 1917 article is a legislative inquiry into the receivership and guarantee fund reimbursements.

Events (3)

1. March 6, 1914 Receivership

Newspaper Excerpt: Guy M. Seeman of this city was appointed receiver of the bank. The last statement of the bank showed liabilities of nearly $139,000.
Source: newspapers

2. March 6, 1914 Run

Cause: Local Banks
Cause Details: Heavy withdrawals triggered by the failure of the First National Bank of Superior, with which the savings bank was affiliated.
Measures: Bank officials closed the doors; later placed in charge of the state banking board and receiver appointed.
Newspaper Excerpt: Heavy demands of depositors, following the failure of the First National bank of Superior, with which the savings bank was formerly affiliated, are reported to have necessitated the closing of the doors today.
Source: newspapers

3. March 6, 1914 Suspension

Cause: Local Banks
Cause Details: Suspension followed heavy depositor demands precipitated by failure of the affiliated First National bank of Superior.
Newspaper Excerpt: The First State Savings bank of this city was closed today upon the action of bank officials, and announcement made that the institution was in charge of the state banking board.
Source: newspapers

Newspaper Articles (2)

1. March 7, 1914 The Salt Lake Tribune Salt Lake City, UT

Article from The Salt Lake Tribune, March 7, 1914

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Article Text

NEBRASKA SAVINGS BANK CLOSES DOORS SUPERIOR, Neb., March 6.-The First State Savings bank of this city was closed today upon the action of bank officials, and announcement made that the institution was in charge of the state banking board. Heavy demands of depositors, following the failure of the First National bank of Superior, with which the savings bank was formerly affiliated, are reported to have necessitated the closing of the doors today. Guy M. Seeman of this city was appointed receiver of the bank. The last statement of the bank showed liabilities of nearly $139,000.

2. March 12, 1917 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, March 12, 1917

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Article Text

Legislature Would Know of Superior Bank Receivership (From a Staff Correspondent.) Lincoln, March 11.-(Special.)Representative Swanson introduced the following resolution this afternoon in the house and the same was adopted: Whereas, The First National bank of Superior failed March the 6th, 1914. Whereas, The reserve funds of the First State Savings bank of Superior were deposited in the defunct National bank, foreing the said Savings bank to suspend business, and Whereas, The state banking department drew out of the guarantee fund $54,526.17 with which to reimburse the depositors, not a cent of which has been returned to said fund, therefore be it Resolved, That the state banking department be and is hereby requested to submit to this house information concerning the present status of the affairs of the aforesaid defunct Savings bank, the amount recovered from the securities held by said bank, the total cost of receivership including attorneys fees and all other expenses to date, the time when the money collected may be expected to be returned into the guarantee fund and the probable amount which will thus be returned, Be it further Resolved, That the clerk be instructed to transcribe and deliver a copy of these resolutions to said state banking department.