13707. Walthill National Bank (Walthill, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9816
Charter Number
9816
Start Date
October 14, 1931
Location
Walthill, Nebraska (42.148, -96.488)

Metadata

Model
gpt-5-mini
Short Digest
4438424a

Response Measures

None

Receivership Details

Depositor recovery rate
64.6%
Date receivership started
1931-07-20
Date receivership terminated
1936-09-25
Share of assets assessed as good
41.2%
Share of assets assessed as doubtful
44.1%
Share of assets assessed as worthless
14.7%

Description

Newspapers from Oct 1931 report the Comptroller appointed a receiver (George B. Cronkleton) for a group of failed national banks including Walthill National Bank. This indicates the bank suspended and entered receivership (closure). A May 12, 1932 notice reports the receiver paying a 35% dividend to claimants. No articles describe a depositor run prior to suspension.

Events (5)

1. July 19, 1910 Chartered
Source
historical_nic
2. July 20, 1931 Receivership
Source
historical_nic
3. October 14, 1931 Receivership
Newspaper Excerpt
The appointment of George Cronkleton receiver ... including the ... Walthill National Bank Walthill ... Mr. Cronkleton has been acting National Bank Receiver middle west ten years.
Source
newspapers
4. October 14, 1931 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency appointed a receiver (George B. Cronkleton) for the bank, indicating regulatory action/closure by federal authority
Newspaper Excerpt
the Walthill National Bank Walthill ... Cronkleton has been acting National Bank Receiver ... assigned receiver for total banks Nebraska
Source
newspapers
5. May 12, 1932 Other
Newspaper Excerpt
A dividend of 35% is now being paid to all claimants who have proven claims against the Walthill National Bank. The Receiver in charge wishes that all claimants would call promptly for their checks.
Source
newspapers

Newspaper Articles (3)

Article from The Hastings Daily Tribune, October 14, 1931

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Article Text

Thursday; To Payment Oct. George B.Cronkleton receiver First National Bank Hast. Ings, Neb., Comptroller Currency Cronkleton has handled sevreceiverships NebrasHe in the state now and report immediately Hastings. Immediately after receipt here news comptroller's lection, the Tribune obtained long distance Interview with Cronkleton after locating him Coleridge, learned that the receiver, who expects arrive here Thursday evening and assume active charge First National Bank Friday morning, has had long experience liquidation. Served 20 Posts. He assigned receivfor total banks Nebraska during the past ten and present time direct ing the liquidation nine Nebrasbanks addition to his new charge here. The banks which he Hquidating include First tional Bank Coleridge, the Hartington National Bank HartingWalthill National Bank National Bank Plainview, the Laurel National Bank Laurel, the Farmers National Bank Wakefield, First National Bank of Humphrey, Saunders County Bank Wahoo, First NationBank Elgin. Mr. Cronkleton declared that, though continue the direction the liquidation of the nine other banks, move headquarters Hastings, the First National here being the largest the group. He declared that he now has several assistants working with intimated that more may be secured. how rapidly the Hastings may progress, Mr. Cronkleton course, unmake statement, being necessary he first quaint himself with the conditions the To Work Rapidly. may, however,' assert"assure the people Hastings an earnest effort proceed with work there rapidly efficiently complished, and dividend be forthcoming depositors' there will warrant," he told the Tribune. Prior his first appointment bank years ago, Mr. Cronkleton resided Bayard, Neb., where cashier present First National Bank of that city.


Article from The Hastings Democrat, October 15, 1931

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Article Text

CRONKLETON Will Take Charge of Institution On Friday of This Week HANDLES NINE OTHER BANKS Partial Payment of Deposits Will Be Made Earliest tical Date After Thorough Checkup of Banks Affairs. The appointment of George Cronkleton receiver the First National Bank Hastings announced from Washington Wednesday this week and said that Mr. Cronkleton take charge of the bank day morning this week. He at present in charge of nine other national banks in Nebraska, including the First NationBank Coleridge. the Hartington Bank the Walthill National Bank Walthill, the First National Bank Plainview, the Laurel National Bank Wakefield, the First National Bank of Humphrey, Saunders County National Bank Wahoo, the First National Bank at Elgin. Mr. Cronkleton, when advised of was Coleridge and said he would come to Hastings once and soon he can conveniently do will move his headquarters Cronkleton has been acting National Bank Receiver middle west ten years. His long experience in the work enables him handle the affairs of closed banks rapidly may consistent with good and believed that affairs of the local bank will closed rapidly under management. The work of invoicing the assets the bank has been completed Frank Nelson and his assistants and the complete report the affairs of the institution ready for the when he takes charge. presumed that dividend to the depositors will paid once if funds are available for that purpose.


Article from The Walthill Citizen, May 12, 1932

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Article Text

Walthill National PAYING DIVIDENDS, A dividend of 35% is now being paid to all claimants who have proven claims against the Walthill National Bank. The Receiver in charge wishes that all claimants would call promptly for their checks. (This will be a considerable help to the community due to the fact that it is releasing approx imately $18000.00 in cash to be distributed among depositors.