Bank of Union - Union, NE

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: January 13, 1933
Location: Union, Nebraska (40.813, -95.923)

Metadata

Model: gpt-5-mini
Short Digest: b151d96a

Response Measures

None

Description

Article (Weeping Water Republican, 1933-03-30) reports the Bank of Union had been closed since Jan 13 and reopened Mar 30 under the former officers after state banking department permission and action by the State Bank Receiver. No explicit run is described; closure was supervised by a state receiver and required depositor waivers for restricted withdrawals, so this is a suspension with subsequent reopening.

Events (2)

1. January 13, 1933 Suspension

Cause: Government Action
Cause Details: Closed and placed under supervision of State Bank Receiver pending depositors signing waivers and action by state banking department; payments restricted until permission to reopen was granted.
Newspaper Excerpt: The Bank of Union, which has been closed since January 13th, reopened on Friday for the transaction of business...
Source: newspapers

2. March 30, 1933 Reopening

Newspaper Excerpt: The Bank of Union ... reopened on Friday for the transaction of business ... the state banking department has given the permission to open the bank for business under the restricted plan of deposit withdrawals. The bank has been under the supervision of State Bank Receiver John M. Elser, who made the announcement Friday that he had turned the bank back to the former officers.
Source: newspapers

Newspaper Articles (1)

1. March 30, 1933 Weeping Water Republican Weeping Water, NE

Article from Weeping Water Republican, March 30, 1933

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Article Text

Bank of Union Reopens The Bank of Union, which has been closed since January 13th, reopened on Friday for the transaction of business, bringing great rejoicing to the residents of the community, who have felt the lack of bank very keenly. The bank is reopened under the management of the former officers, with D. Ray Frans as the cashier of institution. The bank was closed to await the action of depositors to sign waiver on their deposits and which has finally been completed and the state banking department has given the permission to open the bank for business under the restricted plan of deposit withdrawals. The bank has been under the supervision of State Bank Receiver John M. Elser, who made the announcement Friday that he had turned the bank back to the former officers. is remarkable to note," Mr. Eiser commented. "that the people of Unfor had faith enough in the bank and its officials to sign waivers on sudden withdrawals of deposits to the extent of 97 per cent of the number of depositors on the bank's books when it was deemed advisable to close it temporarily. the first meeting of the depositors there was no question as to taining signatures. and by the time the petitions had been thoroughly circulated all but three per cent had signed. It would have been 100 per cent but for the inability of bank ficers reach some depositors who lived away from Union."