13676. First National Bank (University Place, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7737
Charter Number
7737
Start Date
December 18, 1926
Location
University Place, Nebraska (40.841, -96.655)

Metadata

Model
gpt-5-mini
Short Digest
deb5d3e1

Response Measures

None

Receivership Details

Depositor recovery rate
56.0%
Date receivership started
1926-12-29
Date receivership terminated
1929-06-01
OCC cause of failure
Governance
Share of assets assessed as good
31.1%
Share of assets assessed as doubtful
22.2%
Share of assets assessed as worthless
46.7%

Description

The bank closed on December 18, 1926 and a receiver (C. B. Anderson) was appointed by the Comptroller of the Currency at end of December 1926. No article describes a depositor run prior to closure; subsequent articles describe receivership actions and dividend payments in 1927 and 1928. Classified as suspension_closure (suspension by government action followed by permanent closure/receivership).

Events (6)

1. May 12, 1905 Chartered
Source
historical_nic
2. December 18, 1926 Suspension
Cause
Government Action
Cause Details
Closed December 18; appointment/announcement came from the Comptroller of the Currency indicating regulatory action leading to suspension.
Newspaper Excerpt
The bank closed December 18.
Source
newspapers
3. December 29, 1926 Receivership
Source
historical_nic
4. December 30, 1926 Receivership
Newspaper Excerpt
Anderson today received notice of his appointment receiver for the First National bank University Place and will take charge of its affairs. Appointment from the comptroller of the currency afternoon.
Source
newspapers
5. June 23, 1927 Other
Newspaper Excerpt
Depositors in the defunct First National bank of University Place are to receive at once a first dividend of 40 percent, according to an ... C. B. Anderson, receiver.
Source
newspapers
6. July 6, 1928 Other
Newspaper Excerpt
SECOND DIVIDEND READY. Receiver Anderson of Failed University Place Bank Has 10 Percent More for Depositors. A second dividend of 10 percent ... which closed by the comptroller of the currency Decem 18, 1926.
Source
newspapers

Newspaper Articles (9)

Article from Beatrice Daily Sun, December 30, 1926

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Article Text

BANK RECEIVER Lincoln. Dec. Anderson today celved notice of his annointment receiver for the First National bank University Place and will take charge of its affairs appointment from the comptroller of the currency afternoon. The bank closed December 18. Its deposits that time were


Article from Star-Herald, December 30, 1926

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Appoint Bank Receiver Lincoln, Dec. 29 Anderson of Lincoln today received notice his appointment receiver the First National bank versity Place and will take charge affairs tomorrow. Announcement appointment came from comptroller deposits that time were approximately There effort for time the part of those financially terested effect nothing Since the bank has been in the hands ing who will over an Mr. Anderson tomorrow morning.


Article from Lincoln Journal Star, June 15, 1927

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SUE BANK AND RECEIVER Three Depositors of University Place Institution Want Their Money Back. Three depositors of the First National bank of University Place have brought suit against the bank and C. B. Anderson, receiver, to recover deposits they made on December 18, the day the bank was closed. They are C. c. Bickel, Miss Gail Hamilton and the Nebraska division, Topeka branch, of the Woman's Foreign Missionary society, corporation. All three charge that by doing on the day named, officers of the bank that It was solvent, nad by so doing they per petrated a fraud. Each further says that the deposit in question was trust fund and not the property of the bank, and should be remitted. They were put to the account of the examiner, M. A. Ross, in the First National bank of Lincoln, and later transferred to the receiver. Miss Hamilton's deposit was a school warrant for $63.88 and Mr. Bickel's a $500 check drawn by the Omaha, Lincoln & Beatrice Railway company. The missionary society, thru its treasurer, Mrs. F. M. Gregg of University Place, had deposited checks aggregating $3,868.52. Mrs. Gregg stopped pay. ment on $622.52 worth of these, and seeks to recover $3,246. Mr. Blckel charges off an overdraft of $24.07 and $25 cash, and is suing for $450.93.


Article from Lincoln Journal Star, June 15, 1927

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Article Text

SUE BANK AND RECEIVER Three Depositors of University Place Institution Want Their Money Back. Three depositors of the First National bank of University Place have brought suit against the bank and C. B. Anderson, receiver, to recover deposits they made on December 18. the day the bank was closed. They are C. C. Bickel, Miss Gall Hamilton and the Nebranks division. Topeka branch, of the Woman's Foreign Missionary society. corporation. All three charge that by doing business on the day named, officers of the bank that it was solvent. nad by so doing they per petrated a fraud. Each further says that the deposit in question was a trust fund and not the property of the bank. and should be remitted. They were put to the account of the examiner, M. A. Ross, in the First National bank of Lincoln. and later transferred to the receiver. Miss Hamilton's deposit was a school warrant for $63.88 and Mr. Bickel's a $500 check drawn by the Omaha, Lincoln & Beatrice Railway company. The missionary society, thru its treasurer, Mrs. F. M. Gregg of University Place. had deposited checks aggregating $3,868.52. Mrs. Gress stopped pay. ment on $622.52 worth of these, and seeks to recover $3,346. Mr. Bickel charges off an overdraft of $24.07 and $25 cash, and is suing for $450.93.


Article from Superior Weekly Journal, June 16, 1927

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Article Text

SNAKE HIDES IN THE BED SUE BANK AND RECEIVER Hondo, Tex., June 11.-Striking a match on the floor to see what had bititen his wife above her right eye, A. J. Hardt, 35 years old, a farmer living eight miles from here, early Thursday saw a diamond-backed rattlesnake slowly crawling away between the two pillows just beneath his arm. Grasping al hammer from a shelf above the bed, Hardt struck at the wriggling form but missed. The snake disappeared through a crack in the floor. Mrs. Hardt is near death. Sleeping on the bed with the Hardts was their 10-months-old son. -The Baptist Ladies are giving a series of luncheons every fourth Friday of each month. The first be the 24th of June. The proceeds will be to pay form the building fund. They will serve chicken sandwiches, pie, salad-and coffee. The price will be 25c. Come) and bring friend. Lincoln, June 15.-Three depositors of the First National bank of University Place have brought suit against the bank and C. B. Anderson, receiver, to recover deposits they made on December 18, the day the bank was closed. They are C. C. Bickel, Miss Gail Hamilton and the Nebraska division, Topeka branch, of the Woman's Foreign Missionary society, a corporation. All three charge that by doing business on( the day named, officers of the bank represented that it was solvent, and by doing 80 they perpetrated a fraud. Each further says that the deposit in question was a trust fund and ndt the property of the bank, and shoud be remitted. They were put to the account of the examiner, M. A. Ross, in the First National bank of Lincoln, and later transferred to the receiver.


Article from The Lincoln Star, June 23, 1927

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Article Text

DEPOSITORS TO GET DIVIDEND Bank Receiver Announces First Payments to Total $47,000. Depositors in the defunct First National bank of University Place are to receive at once a first dividend of 40 percent, according to an 500 which was secured by a bonding company which held as security $8,000 of Argentine Nation 6 percent bonds. The first act of Mr. Anderson was to pay off these amounts and as a result he now has the $8,000 in bonds toward the next dividend. Some cash is also on hand. The heaviest losses to the bank came through holding an equity in South Dakota farm lands and from notes given by parties residing outside of Lancaster county. Local paper, Mr. Anderson said, quite generally has been paid and splendid cooperation has been given by debtors in University Place. Although not over optimistic, Mr. Anderson said he felt sure there would be naother dividend, stating that already quite a sum has been collected toward this end that the collection of outstanding debts should add to this total. Mr. Anderson sent the following notice to all creditors of the institution: "To depositors of First National bank, University Place, Nebraska. am pleased to inform you that the dividend checks are ready for delivery. together with the receiver's certificates. Each claimant must sign receipt for the dividend check. Respectfully yours, C. B. Anderson, receiver.


Article from Lincoln Journal Star, October 8, 1927

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Article Text

MERE MENTION. Jordan Garage. genuine Ethyl Not chest. The Salvation Army appeal to Nov. Johnson dental office in 1201 Federal Trust Adv. Drs. Byrne, Weise! Chaloupka their office from 211 1st Nat'l Dk. Bldg., to 1011 Sharp. -Adv. Southern III. egg, $8.50. semi lump. semi mine run, other coals at last years prices. Winter Coal Street Commissioner Duncan displaying limp, the result an attempt catch sharp corner heavy box on his ankle one week ago. Macker was lodged !n the city jail Saturday morning for alleged The was made by Detective Towle and Officer Secretary Bliss of the state department trade and conferred Saturday with his thirteen bank regular monthly the capitol. Ross Meyer, charged illegal possession, dismissed Saturtrial municipal court. Judge Chappell sustained defense attorney's motion to dis miss want of evidence. Bids were opened the city hall Saturday two well houses for junior water plant Thirtyfirst and Decker bid $1,270; Baker Holder bid $1,322: John Cloer bid $1,270. Delores Baker, charged with writing no-fund $50 and passing April 12, 1927, bond in the district for her appearance for trial. Her brother, George went her bond in the sum $300. Judge Munger made an order Saturday authorizing Anderreceiver First National bank University Place, to settle bank's claim against Chris Christenson for $350. The bank holds Mr. Christenson's note for $974. Anna Oertell filed suit for divorce from Oertell the district court Saturday. They married at Fremont, April 1916 two children. charges extreme cruelty asks for custody of children and alimony and support money. The Sigma Alpha Epsilon buildof Lincoln, profit organization, has filed articles incorporation with the retary of state. maintain fraternity chapter house. Paul Ludwick, John H. Beachley Roy Wythers. Judge Hastings of David City the fifth judicial district filed his Saturday with the of state for the non-political ballot. His district comprises York, Seward, Hamilton, Polk and Butler counties. Physicians to the number of have paid department the $1 annual renewal fee for license practice medicine. Those who October will stand suspended their fee paid last month, together with an additional District Attorney Aitken filed an information Saturday Henry White, charging him with second offense against the prohibiand citing first conviction sentence. informations charging violathe law were filed against Henry Lessman, Smith. Kilmer Several of these men have arraigned before CommisWhitmore and freed on bond to jail in default of charged with dumb found guilty by Municipal Saturday but was with warning. Mrs. that hitched to dirt wagon fell the the Dr. that his in the this one not have worked. McClain of the society testified that he shot horse. Mr. Carveth stated owns from to thirty that feeds them well them well. This horse. he was good condition when left the stable. blamed to acute attack of H. Dave Carter. William Bishop. Geason and Harry Butler testified that Carveth good to his horses and feeds Congressman John % Norton of friends Saturday making the fourth eleven counties. stopping in each county and to hear they have say about work visited Saunders Seward and visit Gage the coming week. Norton leave early in November for and will before leaves congressman last March has since been on the federal


Article from Lincoln Journal Star, July 6, 1928

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SECOND DIVIDEND READY Receiver Anderson of Failed University Place Bank Has 10 Percent More for Depositors. second dividend of 10 percent. payment is ready be distributed among the of the First National bank Place, which by the comptroller of on December 18, 1926. Anderson, the have temporary fices for the purpose of payment those certifi to him the First Building and Loan in University Place. For their will be at those also urday July and the Saturday, up until o'clock. make total dividend payment of or 50 percent the total proved claims, $124, 452. certain ability to later pay final dividend more. addition there was stock holders' liability which has been paid. Suits will be the others, and whatever Continued


Article from Lincoln Journal Star, July 6, 1928

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SECOND DIVIDEND READY Receiver Anderson of Failed University Place Bank Has 10 Percent More for Depositors. A second dividend of 10 percent. cash payment $12.485. ready be distributed among the of the First National bank University Place. which closed the comptroller the currency Decem 18. 1926 Anderson. the receiver. will have temporary fices for the purpose of payment those who certifi cates to him the First Building and Loan in University Place For their be will be those offices also on Saturdav evening. July and also the following Saturday. up until This will make total dividend payment percent the of $124 Vr Anderson certain of his ability to later dividend possible more In addition stock hability which only paid will the