Farmers National Bank - Valentine, NE

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11071
Charter Number: 11071
Start Date: June 11, 1925
Location: Valentine, Nebraska (42.873, -100.551)

Metadata

Model: gpt-5-mini
Short Digest: b9107c3a

Response Measures

None

Description

The bank's directors voted to go into voluntary liquidation (articles dated June 11–12, 1925). Depositors are being paid in full and the stockholders furnished cash. There was a brief closing and rumor of suspension, but the closure is voluntary liquidation rather than a depositor run or regulatory receivership.

Events (4)

1. August 31, 1917 Chartered

Source: historical_nic

2. June 11, 1925 Suspension

Cause: Voluntary Liquidation
Cause Details: Directors by unanimous vote decided to go into voluntary liquidation and appointed a liquidator; bank to cease business as a going concern and depositors are being paid in full.
Newspaper Excerpt: has gone into voluntary liquidation and will cease business as a going concern.
Source: newspapers

3. June 12, 1925 Other

Newspaper Excerpt: Depositors are being paid in full, and there is no disturbance in business and no loss to the public whatever. Wednesday the bank doors were closed and it was rumored that the bank had suspended. ... depositors are being paid off. It is understood that the present stockholders have simply dug down in their pockets and produced the cash so that none of the depositors need suffer.
Source: newspapers

4. May 20, 1926 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (2)

1. June 12, 1925 Valentine Newspaper Valentine, NE

Article from Valentine Newspaper, June 12, 1925

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Article Text

IN LIQUIDATION Depositors Being Paid Bank To Go Out of Business. The Farmers National Bank of this city, organized a number of years ago by the late Jackson and a number of well to do farmers of this vicinity, has gone into voluntary liquidation and will cease business as a going còncern. Depositors are being paid in full, and there is no disturbance in business and no loss to the public whatever. Wednesday the bank doors were closed and it was rumored that the bank had suspended. It appears that Tuesday afternoon the directors by unanimous vote decided to into liquidation and appointed W. E. Haley uidating Cashier C. agent. Leithoff refused to turn the books and money over to Mr. Haley, on the ground that he had not been checked out by a bank examiner, and that he also had contract with the directors to act Yesterday morning, to avoid dissension, Mr. Haley withdrew as liquidator, the doors were open and depositors are being paid off. It is understood that the present stockholders have simply dug down in their pockets and produced the cash so that none of the depositors need suffer. Time certificates of deposit will be taken care of as they fall due. The county's money, some $11,000, being fully protected by a surety bond, will not be demanded until further collection of assets can be made. The condition of this bank has been matter of public knowledge for some ime. and of course the deposits have been gradually shrinking. It is a matter for congratulation to the community that the present stockholders of this institution have from the beginning realized their responsibility. their friends and to the public which trusted them, and have not failed 'that trust. Two Banks Enough. This closing leaves Valentine with two strong financial institutions, the First National and the Nebraska State, which will be amply able to take care of its needs in the future.

2. June 25, 1925 Thomas County Herald-Clipper, Mullen Sandhills Stockman Thedford, NE

Article from Thomas County Herald-Clipper, Mullen Sandhills Stockman, June 25, 1925

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Article Text

VALENTINE BANK QUITS In looking over The Republican our Valentine exchange we notice the Farmers National Bank of that is in liquidation. According to city The Republican all depositors are being The following was clipped from the above mentioned paper in its issue of June11: Farmers National Bank of this city, organized number of by the late W. Jackson years ago and number of well to do farmers of this vicinity, has gone into volliquidation and will cease untary going concern. Debusiness as positors are being paid in full, and there is no disturbance in business and loss to the public whatever. no Wednesday the bank doors were closed and it was rumored that the had It that bank suspended. appears afternoon the directors by Tuesday unanimous vote decided to into liquidation and appoint E. Haley agent. Cashier Leitliquidating refused to turn the books and to Mr. Haley, on the money over that he had not been checkground bank examiner, and that out by had contract with the also rectors to act as liquidator. Yesterday morning, to avoid dissension, Mr. Haley withdrew as liquidator, the doors were open and depositors the are being paid off. It is understood that the present stockholders have simply dug down in their pockets and produced the cash 80 that none of the depositors need suffer. Time certificates of deposit will be taken care of as they fall due. The county's money, some being fulprotected by surety bond, will not be demanded until further collection of assets can be made. The condition of this bank has been matter of public knowledge for sometime, and of course the deposits have been gradually shrinking. It is matter for congratulation to the community that the present stockholders of this institution have from the beginning realized their responsibility to their friends and to the public which trusted them and have not failed in that trust. Two Banks Enough This closing leaves Valéntine with two strong financial institutions, the First National and the Nebraska State, which will be amply able to take care of its needs in the future.