13719. Citizens National Bank (Wayne, NE)

View Charter #9244 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9244
Charter Number: 9244
Start Date: June 3, 1926
Location: Wayne, Nebraska (42.231, -97.018)

Metadata

Model: gpt-5-mini
Short Digest: 61aa92de

Response Measures

None

Receivership Details

Depositor recovery rate: 89.3%
Date receivership started: 1926-06-02
OCC cause of failure: Economic conditions
Share of assets assessed as good: 33.7%
Share of assets assessed as doubtful: 41.9%
Share of assets assessed as worthless: 24.4%

Description

Articles (Wayne News June 3 and June 10, 1926) report the bank closed after an examiner's report and the appointment of a receiver. Later articles (1927–1928) describe the receiver liquidating assets and paying dividends. OCR errors in articles were corrected (e.g., Cronkleton, McRoberts spelled inconsistently). No contemporaneous run is described; the cause appears to be adverse bank-specific asset problems uncovered by an examiner.

Events (4)

1. September 29, 1908 Chartered

Source: historical_nic

2. June 2, 1926 Receivership

Source: historical_nic

3. June 3, 1926 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Examiner's report revealed 'frozen assets' and loans 'not found to be the best'; insufficient stock to cover losses, prompting closure.
Newspaper Excerpt: Late Tuesday afternoon became known to people that all well with the Citizens National Bank of this that the directors had sent to have an examiner ... the doors were closed and the examiner placed charge of the bank until receiver appointed
Source: newspapers

4. June 10, 1926 Receivership

Newspaper Excerpt: McROBERTS RECEIVER AT CITIZENS NATIONAL BANK ... The receivcomes with reputation as an efficient official who will conduct the bank affairs according to the law while he is in charge.
Source: newspapers

Newspaper Articles (12)

1. June 3, 1926 Wayne News Wayne, NE

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CITIZENS TO RECEIVER Failed Open Doors Wednesday Morning After Examiner Made Report Directors. Late Tuesday afternoon became known to people that all well with the Citizens National Bank of this that the directors had sent to have an examiner come few days before that they might feel satisfied to their standing official uninvited. As the his class paper held assets, two alternatives appeared solution. One sufficient stock to make good the frozen assets, estimated require the sale of about $75,000 worth stock, with which reorganization could be made to take over the assets and Habilities of present bank and continue business. other the appointment of receiver. hurried canvas of the situation made seem that the first course could not be followed, and the doors were closed and the examiner placed charge of the bank until receiver appointed and takes charge. The Democrat has learned well possible the condition of the bank, and compared with most bank failures not counted wholly hopeless case for they cannot expect full return of their deposits, the percentage depending upon what may be secured on the frozen assets, cost of securing what may be had. One in position to know, that there has not been uncovered crooked dishonest work that plicates the present officers or tors but that some loans had not to be the best. Hopeful attitude expressed that depositors might time receive substantial dividend. To be sure, there are others who contend that there may have been things not strictly good form. but nothing that was any manner implicating the bank.

2. June 10, 1926 Wayne News Wayne, NE

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McROBERTS RECEIVER AT CITIZENS NATIONAL BANK More than the bit of information told in the line above, there is little add to the statement of last week in regard to this bank. The receivcomes with reputation as an efficient official who will conduct the bank affairs according to the law while he is in charge. The statement last week; that few banks are closed that are in good shape this from every point of view. There is now no known cause for heavy losses on the books are said clean in every way. meeting of directors called for Tuesday evening for discussing the closed without anything developing seemed to any action by the directors this time. The card on the door *ells those who have in the deposit boxes papers that they hope within few days look after their needs, and give access the that for few days such permission would take time much more needed for more important work. The public must wait patiently possible until such time as public statement may be issued, based on the findings.

3. February 3, 1927 The Wayne Herald Wayne, NE

Article from The Wayne Herald, February 3, 1927

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To Kiwanis McRoberts Urges of Golden Rule All Dealings. Explains His Work Tells of Manner Which National Bank Are Conducted. McRoberts, receiver of the closed Citizens National bank Wayne, spoke to Kiwanians Monday following noonday luncheon, on the subject of Golden Rule in He explained about the appointment of national bank receivers and their duties. Nothing will solve difficulties between between tions, asserted Mr. application of the golden Mr. McRoberts receiver for banks in Pilger, Schuyler and Carroll, besides here. has just been appointed to take charge bank at Knoxville, also. Receivers by the comptroller of the currency and they are because of manifested ability and efficiency. In past held his years position by political favor. Merit choice. Mr. McRoberts also explained that one man can handle several banks when they close enough are together. This increases the dividends to be given depositors. The men in charge of the bank liquidate all the paper possible to the time take to finish any bank's business thus varies the receivers try pay depositors as nearly in full possible. Attorney's fees in national bank cases now fixed. This reduces expense. McRoberts ciation the cordial and Mrs. McRoberts given in Wayne.

4. May 19, 1927 The Wayne Herald Wayne, NE

Article from The Wayne Herald, May 19, 1927

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Mrs. Andrew Stanm spent Saturday in Sioux City. J. S. King of Hartington, is-visiting in the Joe Smolsky home. c. H. Randall of Randolph, was in Wayne yesterday on his way to Omaha. Swim in a real swimming suit, the Jantson suit. For sale by L. Blair. J.E. Brittain and Herbert Welch were in Lincoln yesterday on business. Mrs. S.J. Wolcott went to Winside Wednesday to visit her sister, Mrs. Joe Alger. John Nicholson and family of Wisner, visited Sunday with Mrs. Lucy West here. Mrs. Theresa Meister returned Sunday from visit with her daughter in Omaha. Supt. G. A. Jones of Rosalie, was here Monday with students from the high school there. Mr. and Mrs. Alvin Young and children of Winside, spent Sunday in the August Loberg home. Mrs. August Madsen of Sellersburg, Ind., arrived yesterday to visit in the Hans Madsen home. Mr. and Mrs. Charles Ash entertained at dinner Monday Mr. and Mrs. Oliver Gamble of San Pedro, Calif. Mr. and Mrs. R. W. Ley arrived home Monday from Excelsior Springs, Mo., where they spent a few days. Chas. Senter who is employed in the Martin store in Sioux City, came to Wayne Sunday to visit home folks. Herman Fredricks and family of Norfolk, and Walter Krei of Laurel, visited at the John Krei home here Sunday. Avoid sickness by keeping your foodstuffs cool and sanitary with our pure, artificial ice. Wayne Artificial Ice Co. Say folks, it will pay you to come in and look over our guaranteed used cars. Parsley-Briggs Motor Co., Wayne. m19t1. Miss Alice Shearer of Coleridge, and Miss Eriz Henrickson of Wakefield, spent Sunday here in the D. H. Larson home. Mr. and Mrs. C. A. Shultz returned Thursday from Lincoln where they attended a state convention of cream buyers. Francis C. Jones of Sioux City, was in Wayne on business this week, guest while here of his parents, Mr. and Mrs. F. H. Jones. Mrs. G. J. Hess returned Friday from Kearney where she had visited a few weeks with her daughter, Mrs. Hugh Drake and husband. Fred Nelson suffered a broken collar bone at the Al Rennick farm, seven miles south of town, Saturday when a horse fell with him. Miss Emma Sievers who had spent four weeks at the Peter Sievers home near Altona, returned Saturday to the Dr. G. J. Hess home. Mrs. Clara Carboling left yesterday for her home in Springfield, III., after being here to attend the funeral of John Grimsley. She is a cousin of Mrs. Grimsley. R. C. Downs, an expert billiard player from Detroit, Mich., gave an exhibition of pocket billiards at the Rockwell pool hall Tuesday night. About 150 attended. Congressman Edgar Howard of Columbus, was in Wayne Saturday on his way home from Waterbury where he delivered the high school commencement address. B. B. Pollard and son, Bernard, drove to Dell Rapids, S. D., yesterday to bring here Mrs. Pollard's mother who will attend the high school commencement exercises. J. J. Gildersleeve plans to leave the last of this month for an indefinite stay with his son, J. W. Gildersleeve in Aitken county, Minn. He will stop in Stewartville to visit enroute there. Geo. G. Cronkleton, receiver of the late Citizens National bank here, has been appointed receiver of the Laurel National bank which suspended last week. Mr. Cronkleton is now receiver of seven banks. Mrs. Anna Johnson and children plan to leave in a few days for Chicago to make their home. Mrs. Johnson has residence property there. William Johnson will remain here and Miss Miriam may also stay. Lloyd Rupp of Los Angeles, Calif., formerly of Wayne, is one of four men whom Jack Dempsey has taken to his mountain home for training. Dempsey will practice with the men to be prepared again for a boxing bout. Our ice truck passes your door every day. Put your card in the window early in the morning, or better still the evening before so you will not be missed. If you are not already on our list phone us, residence 374 and office 29. Wayne Artificial Ice Co. Mrs. I. H. Britell went to St. Edward Monday to attend the Methodist Home Missionary society convention in session Tuesday and Wednesday. Rev. and Mrs. L. F. Townsend, Mr. and Mrs. G. W. Crossland and Mrs. C. L. Wright drove there Tuesday morning to the meetings.

5. April 11, 1928 Osmond Republican Osmond, NE

Article from Osmond Republican, April 11, 1928

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ALBION CROW HUNTER BRINGS IN BIG EAGLE (Special)While hunting crows southwest of Albion. Robert Daigh shot an eagle weighing 25 pounds and with a wing spread of feet. The huge bird was roosting in the trees with crows and it was with the intention of killing crows that Daigh shot This is the second eagle to be shot in Boone county in the last month COURT ORDERS INSURANCE MONEY PAID TO WIDOW Lincoln. Neb. (Special)In spite of the fact that the Modern Woodmen never issued policy of insurance tax on the life of James P. Mickelsen. Wheeler county farmer, payable to his wife the supreme court says it must pay her $2,000 She was his second wife. and just before his fatal illness he sent in to the head office policy made out in favor of his children. to have it changed in favor of his wife, but died before it could be Issued The children said she could have the money so far as they were concerned. but the order was afraid to pay it to her as long as the policy favoring the children was outstanding The supreme court says that in spite of the fact that the policy to the children was not involved in this case, the fact that they were summoned to appear and made parties defendant and did not defend. gives the court jurisiction over the whole matter and that payment to the widow will extinguish all 11ability on the man's life GUEST COMMITS SUICIDE IN HOME OF FRIEND (UP)-Jac Phillips. 24 years old. traveling salesman shot and killed himself in the apartments of R. O Lipton here today according to police reports made to Coroner Steinwender Lipton said he had met Phillips outstate and, seeing him on the street last night. invited him to stay at his home Mrs. Lipton was in the This morning while talking to his wife over the telephone Lipton said Phillips sent a bullet through his temple He died en route to a Police learned that Phillips had just been discharged from hospital at Kearney His parents are said to live at Oakland. Ia. CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Wayne George G Oronkleton receiver of the Citizens National bank. of Wayne announces that third dividend of 10 per cent. is available to creditors This payment will bring the total payment of dividends to 80 per cent. The cost of collections has been only 3.6 per cent. on the entire amount collected Interest collected since the bank has suspended business has practically paid all the costs of receivership lacking approximately $600. The total amount collected to date is $405,216 and the remaining assets amount to SPILLMAN TO MAKE USE OF THE RADIO torney General O. S. Spillman. republican candidate for United States senator. announced here today that he will go on the air for the balance of his campaign The following itinerary was given out Friday. April 6. station KFNF night he will speak at mass meeting in Grand Island Saturday April 7. Station WJAZ Norfolk at noon Monday. April 9. station KFAB Lincoln at 6:30 p. m., station WOW. Omaha, 10 p. m. RECEIVES PAY FOR HER STOLEN CHICKEN (Special) -A check for $34.57 has been recelved by Mrs. Charles Duncan for chickens stolen while the family was away from home. She put the case in the hands of Sheriff Smith who found that the chickens had been sold in Platte Center and Creston. The thieves were apprehended. arrested and confined in jail at Columbus. The money was collected from them and sent to Mrs. Duncan.

6. April 12, 1928 The Lyons Mirror-Sun Lyons, NE

Article from The Lyons Mirror-Sun, April 12, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Neb., George G. Cronkleton, receiver of the Citizens National bank. Wayne, announces that third dividend of 10 per cent. available to creditors. This payment will bring the total payment of dividends to 80 per cent. cost of collections has been only on the entire Interest the bank has suspended business has practically paid all the costs lacking ap$600. The total amount collected is and the assets amount $208,532.27 SPILLMAN TO MAKE USE OF THE RADIO Lincoln. Neb., torney General Spillman, republican candidate for United States senator, announced here today that he will go on the air for the balance of his campaign. The following itinerary was given station KFNF. Shenandoah. Ia., at noon. Friday night he will speak mass meeting in Grand Island. Saturday Station at noon. Monday, April station KFAB. Lincoln. 6:30 m., station WOW. Omaha, RECEIVES PAY FOR HER STOLEN CHICKEN (Special) check for has been celved by Mrs. Charles Duncan for chickens stolen while the family from home. She put was away the case in the hands of Sheriff Smith who found that the chickens had been sold in Platte Center and Creston. The thieves were apprehended. arrested and confined in Columbus. The money collected from them and sent Mrs. Duncan.

7. April 12, 1928 The Frontier O'Neill, NE

Article from The Frontier, April 12, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Wayne. Neb., (Special)George Cronkleton. receiver the Citizens National bank, Wayne. that third dividend of 10 per cent. available to This will bring the total payment of dividends to cent. The cost of collections has been only per on the entire amount collected. Interest collected the bank has suspended business has practically paid all the costs of lacking approximately $600. The total amount collected to date is the remaining assets amount to TO MAKE USE OF THE RADIO Lincoln, Neb., tornev General Spillman, publican candidate for United States senator, announced here tedav that he will RO on the air the balance of his campaign. following itinerary was given Fridav, April station KFNF Rhenandosh. at noon. Friday night he speak mass meetin Grand Saturday April Station WJAZ. at noon. Monday, Anril station KFAB station WOW. Omaha, RECEIVES PAY FOR HER STOLEN CHICKEN Madison. Neb. (Special) check for $34.57 has been celved by Mrs. Charles Duncan for chickens stolen while family away from home. She put the hands of Sheriff case Smith who found that the chickens been in Platte Center and The thieves were apprehended. arrested confined The money from them and sent Duncan.

8. April 12, 1928 The Oakdale Sentinel Oakdale, NE

Article from The Oakdale Sentinel, April 12, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Neb., George receiver the Citizens National bank. Wayne, announces that third dividend of 10 per cent. available to creditors. This payment will bring the total payment of dividends to per cent. The cost of collections has been only per cent. the entire amount collected Interest collected since the bank has business has practically paid all the costs of lacking approximately $600. The total amount collected to date is and the remaining assets amount to $208,532.27. SPILLMAN TO MAKE USE OF THE RADIO torney General Spillman. publican candidate for United States senator, announced here today that he will on the air for the balance of his The following itinerary was given out: station KFNF Shenandoah at Friday night he will speak mass meeting in Grand Saturday April Station WJAZ. at Monday April station KFAB Lincoln. at 6:30 station m., WOW, Omaha, RECEIVES PAY FOR HER STOLEN CHICKENS Neb. (Special) check for $34.57 has been ceived by Mrs. Charles Duncan for chickens stolen while the family was away from home. She put the case the hands of Sheriff Smith who found that the chickens had been sold Platte Center and Creston. The thieves were apprehended. arrested and confined fall at Columbus The money was collected from them and sent Duncan.

9. April 12, 1928 Dixon County Advocate Ponca, NE

Article from Dixon County Advocate, April 12, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Wayne. Neb., (Special)George Cronkleton, receiver the Citizens National, bank, Wayne. announces that third dividend of 10 per cent. is available to creditors This payment will bring the total payment of dividends to per cent. The cost of collections has been 3.6 per cent. on the entire amount collected Interest collected since the bank has suspended businews has practically paid all the costs receivership, lacking approximately $600. The total amount collected to date and remaining amount to $208,532.27.

10. April 12, 1928 Winside Tribune Winside, NE

Article from Winside Tribune, April 12, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Wayne. Neb., (Special)George G. Cronkleton. receiver of the Citizens National bank. Wayne. announces that third dividend of 10 per cent. available to creditors. This payment will bring the total payment of dividends to per cent. The cost of collections has been only 3.6 per cent. on the entire amount collected. Interest collected since the bank has suspended business has practically paid all the costs of lacking ap$600. The total collected to date is and the assets amount to SPILLMAN TO MAKE USE OF THE RADIO Lincoln. torney General Spillman. republican candidate for United States here today that will on the air the of his campaign. The following itinerary was given out: station KFNF. at noon. Friday he will mass meeting in Grand Island. Saturday April Station WJAZ. Norfolk. at noon. Monday. April station KFAB. Lincoln. 6:30 m., station WOW, Omaha, RECEIVES PAY FOR HER STOLEN CHICKENS Madison. Neb. (Special) check for $34.57 has been celved by Mrs. Charles Duncan for chickens stolen while the family was away from home. She put the case in the hands of Sheriff Smith who found that the chickens been sold in Platte Center and Creston. The thieves were apprehended. arrested and confined in Columbus. The money was collected from them and sent to Mrs.

11. April 13, 1928 The Pender Republic Pender, NE

Article from The Pender Republic, April 13, 1928

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COURT ORDERS INSURANCE MONEY PAID TO WIDOW Neb., In spite of the that the Modern Woodmen never issued policy of insurance tax on the life of James Mickelsen, Wheeler county farmpayable to his wife, the supreme court says must pay her $2,000. She was his second wife, and just before his fatal illness he sent in to the head office policy made out in favor of his children. to have changed in favor of his wife, but died before could be issued. The children said she could have the money far they were concerned. but the order was afraid to pay to her long the policy favoring the children was outstanding. The supreme court says that in spite of the fact that the policy the children was not involved in this case, the fact that they were summoned to appear and made parand did not defend. gives the court jurisiction over the whole matter. and that payment to the widow will extinguish all 11ability on the man's life. GUEST COMMITS SUICIDE IN HOME OF FRIEND Philyears traveling man, shot and killed himself in the apartments Lipton here day, according police reports made to Coroner Steinwender Lipton said he had met Phillips outstate and. seeing him on the street last night, invited him to his home. Mrs. Lipton was in hospital. This morning while talking to his over the telephone, Lipton said. Phillips sent bullet through his temple. He died en route to hospital. Police learned that Phillips had just been discharged from hospital at Kearney His parents are said to live at Oakland, Ia. CLOSED WAYNE BANK TO PAY THIRD DIVIDEND (Special)George G. Cronkleton. receiver of Citizens National bank. of Wayne, announces that third dividend of 10 per cent. is available to creditors. This will bring the total payment of dividends to 80 per cent. The cost of collections has been only per cent. on the entire amount Interest since the bank has suspended business has practically paid all the costs of receivership. lacking approximately $600. The total amount collected to date is $405,216.1 and the remaining assets amount to SPILLMAN TO MAKE USE OF THE RADIO torney General Spillman. publican candidate United States senator, announced here today that he will go on the air for the balance his campaign. following itinerary was given out Friday. station at noon. Friday night he will speak mass meeting in Grand Island April Station WJAZ, at noon. Monday. April station KFAB. Lincoln at 6:30 m., station WOW. Omaha, 10 RECEIVES PAY FOR HER STOLEN CHICKENS Madison. Neb. (Special) check for has been ceived by Mrs. Charles Duncan for chickens stolen while the family away from home. She put the case in the hands of Sheriff Smith who found that the chickens had been sold in Platte Center and Creston. The thieves were apprehended arrested and confined in jail at Columbus. The money was collected from them and sent to Duncan.

12. April 13, 1928 The South Sioux City Mail South Sioux City, NE

Article from The South Sioux City Mail, April 13, 1928

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CLOSED WAYNE BANK TO PAY THIRD DIVIDEND Neb., (Special)George Cronkleton. receiver of the Citizens National bank of Wayne. that third dend of 10 per cent. available to creditors This will bring the total payment of dividends to cent. The cost of collections has been only 3.6 per cent. on the entire amount collected Interest collected since the bank has suspended business has practically paid all the costs of receivership. lacking approximately $600. The total amount collected to date and remaining assets amount to