Citizens State Bank - Thedford, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 1, 1930
Location: Thedford, Nebraska (41.978, -100.576)

Metadata

Model: gpt-5-mini
Short Digest: f6a93b96

Response Measures

None

Description

Directors voted to close the bank and place its affairs in hands of the state banking bureau for liquidation due to insufficient business. No run reported. Receiver/liquidation was initiated.

Events (2)

1. April 1, 1930 Receivership

Newspaper Excerpt: directors ... voted to place its affairs in the hands the state banking bureau for liquidation State Examiner C. A. Lau in of The establishment was the only one in Thedford
Source: newspapers

2. April 1, 1930 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors voted to close the bank and place its affairs in the hands of the state banking bureau for liquidation because business was insufficient to permit profitable operation.
Newspaper Excerpt: One of the smallest banks in Nebraska, the Citizens' State at Thedford, was closed Tuesday by action of its own directors, who voted to place its affairs in the hands the state banking bureau for liquidation
Source: newspapers

Newspaper Articles (1)

1. April 1, 1930 The Lincoln Star Lincoln, NE

Article from The Lincoln Star, April 1, 1930

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Article Text

THEDFORD'S ONLY BANK CLOSED BY ACTION DIRECTORS One of the smallest banks in Nebraska, the Citizens' State at Thedford, was closed Tuesday by action of its own directors, who voted to place its affairs in the hands the state banking bureau for liquidation State Examiner C. A. Lau in of The establishment was the only one in Thedford, which is the county seat of Thomas county. The amount of business in its territory proved insufficient to permit profitable operation Capital stock of the institution was $15,000 and it had about $55. 000 of deposits. P. T. Lewellen was president and J. M. McMillan This is the only bank suspension which has occurred in Nebraska for several weeks In the meantime, there have been one or two reorganizations of banks that had been closed. and in three or four instances two going banks in the same town have merged.