13724. Nebraska State Bank (West Point, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 13, 1930
Location
West Point, Nebraska (41.842, -96.709)

Metadata

Model
gpt-5-mini
Short Digest
0ccb78fc

Response Measures

None

Description

Bank was taken over by the state banking department and suspended Dec 13, 1930 (examiner O. Peck placed in charge). Assets were described as 'frozen'; the institution went into liquidation/receivership with a receivership plan accepted by creditors in Apr 1931 and a receiver (E. H. Luikart) appearing in court dockets. No contemporaneous article describes a depositor run, so this is a suspension leading to closure/receivership.

Events (3)
1. December 13, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Assets described as 'frozen'; state banking department took over the bank and examiner O. Peck placed in charge.
Newspaper Excerpt
Depositors of the Nebraska State bank of West Point which closed December 13... Peck, representing the department, took charge of the bank after the directors had decided to turn over to the state authorities.
Source
newspapers
2. April 30, 1931 Receivership
Newspaper Excerpt
Creditors of the Nebraska State bank at West Point recently accepted a depositors' committee plan for liquidation of the assets. The plan has the approval of the state banking department. The directors and stockholders of a new bank to be organized under the plan will buy certain assets of the old institution and make possible the immediate payment of 50 per cent of deposits. The remaining assets will be taken over by a receiver ...
Source
newspapers
3. October 4, 1931 Other
Newspaper Excerpt
Donald S. Krause ... received dividend check from the failed Nebraska State bank at West Point ... the dividend was for ... per cent of the deposit. (Dividend paid from failed bank's liquidation.)
Source
newspapers

Newspaper Articles (8)
1. December 15, 1930 Norfolk Daily News Norfolk, NE
Article from Norfolk Daily News, December 15, 1930

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Article Text

Hope to West Point Bank West Point, Neb., Dec. cial to The News: Patrons of the Nebraska State bank here, which was taken over by the department of banking Saturday morning, are hopeful of an early reopening or possible reorganization. Peck, representing the department, took charge of the bank after the directors had decided to turn over to the state authorities. He is assisted by Fred W. Carter. The direct cause of the bank's closing was given as frozen assets. This the first time in the history of West Point that bank has suspended.

2. December 16, 1930 The Lincoln Star Lincoln, NE
Article from The Lincoln Star, December 16, 1930

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Article Text

WEST POINT BANK DEPOSITORS WILL CONSIDER COURSE WEST POINT. Neb., Dec. 16-(A) Depositors of the Nebraska State bank of West Point which closed December 13, will meet at theater here tomorrow afternoon and sedect a committee to determine whether to reorganize or liquidate the bank O. Peck, state examiner in charge of the institution, called the meeting.

3. January 15, 1931 The Craig News Craig, NE
Article from The Craig News, January 15, 1931

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Article Text

State News Items of Interest Merle N. Poster, chief examiner of partment of trade and commerce, announced the closing of the Nebraska State bank at West Point At the time of closing. Foster sald. the bank carried deposits of about $300,000 surplus for $20,000. and capital of $30,000. H. Koch was president F. D. Hunker, vice-president. and W T. Knievel, cashier Examiner J. O. Peck was placed In charge. The Continental Construction company builders of a natural gas pipe line between Beatrice and Chicago, via the Missouri river at Plattsmouth, plan to have a private telephone line paralleling the line. The Burlington railroad has the contract to build the line. The pipe line closely parellels the Burlington line between Plattsmouth and Chicago. The private phone would enable watchmen and engineers to report gas pressure or leaks without delay. Licenses to practice medicine and surgery In Nebraska have been issued by the state welfare department to these persons who passed an examination for that profession given by the state medical examining board on November 20 and 21: William S. Musfelt, Lincoln: Herbert F. Anderson, Hastings: Edward Bridges, Art. hur. Omaha-A. C. Armitage, Jr.: Robert M. Chapman, J. E. Courtney. Eugene B. Floersch, William J. Gentry, William N. Hahn, Victor D. Norra 1. service were given to 97 merchants who had been be Iness in the state wenty years more Authority to amond rates on sugar bring about reductions at all distances was asked of the state rallway commission ree nt ly by the railway The Burlington filed an with the commission also asking authority to publish a rule providing for stop. ping in transit of buttermilk. semisolid. packed in barrels, carload from Omaha stopped at Central City to partly inlond when destined for Ra venna or Holdrege at through rate from origin to destination plus transit charge of $6.00 per car John D. Foreyth. of Niobrara, was elected president of the Nebrarka ors' sociation and Arthur H Barstler. county clerk of Otoe coun was chosen president of the county clerks and registers of deeds' in the closing sessions at Omaha nt Iv of the joint annual n° the two organizations. The commis sioners and supervisors selected Herman Holm. of Mason City ns their Papillion. treasurer of the association.

4. April 30, 1931 Madrid Herald Madrid, NE
Article from Madrid Herald, April 30, 1931

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Article Text

Creditors of the Nebraska State bank at West Point recently accepted a depositors' committee plan for liquidation of the assets. The plan has the approval of the state banking department. The directors and stockholders of a new bank to be organized under the plan will buy certain assets of the old institution and make possible the immediate payment of 50 per cent of deposits. The remaining assets will be taken over by a receiver and, as they are realized on, will be divided among the depositors.

5. September 24, 1931 Cuming County Democrat West Point, NE
Article from Cuming County Democrat, September 24, 1931

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Article Text

Clarence Wallace vs. Ellen Clements et Foreclosure. Anna Leisy VB. The Farmers Mu tual Home Ins. Co. et al. On policy. Jacob Henriksen Va. Erwin R. Pagels. On Contract. Alfred Wahlstrom VS. Alfred An derson et al. On note. Emma Glissman vs. Francis Kessinger. Appeal. Citizens Bank, Bancroft John Farley. Appeal. The State of Nebraska VS, Nebraska State bank, West Point. Roceivership. Esther Gilster VS. Louis Gilster Divorce. Andrew L. Simonson VS. Nicholas Reuss. Foreclosure mortgage The Conservative Savings Loan Assn. Edward Farley et al. Foreclosure mortgage. William Hanford Williams, by John Williams vs. Clarence Pierson. Damages. Lizzie Y. Thompson VS. Howard R. Flores et al. Foreclosure mortgage. The Federal Land bank of Omaha vs. Stephen Kafka, et al. Foreclosure mortgage. E. H. Luikart, Receiver, VS. Frank Drahos. Stockholders Liability. Adolph Zicht VS. Ralph Case et al. Damages Re Estate of Albert Deutsch, deceased. To sell real estate. E. H. Luikart, Receiver VS. Bernard G. Smith. On contract. Marie Thompson VS. Everett Thompson. Divorce. Ferdinand Uhing et al. VS. Fred Uhing et Accounting and par tition. Andrew R. Oleson VS. Ruth R. Rayevich, et al. Foreclosure mortgage. Charles Kaup and Emma Schiferl Executors, VS. Conrad Welding et al. Foreclosure mortgage. Elizabeth Maloney VS. H. A. Tien, real name unknown. Damages. John L. Williams VS. Clarence A. Pierson. Damages. The First National bank of BeemNebraska VS. Fred H. Siebrandt. Attachment.

6. October 4, 1931 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, October 4, 1931

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Article Text

Don Krause Is Paid Cent Donald S. Krause attorney today received dividend check from the failed Nebraska State bank at West Point for cent that the diviThe check explained dend was for per cent of the deposit. going to frame said Krause "and some day when for the bank mark except failure went through might have been wealthy today. why will have the check as proof.' Store Owner Accused Anders Bellevue store admitted general buying goods from three Omahans in county court at Papillion Friday bound over for trial in district court on charge receiving stolen property He denied know ing the goods were stolen Mr and Mrs Virgil Wheeler of Omaha serving year terms for the Their Leroy Garrow being held by the Seward county sheriff Mrs. Jack Hazleton, 2605 South street, reported police Saturday afternoon that while she was in her home prowler entered the downstairs and stole $113 from her purse. cluding hundred dollar bill George Campbell, 14, 2518 South street said stranger cross the yard and depart in

7. March 3, 1932 Cuming County Democrat West Point, NE
Article from Cuming County Democrat, March 3, 1932

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Article Text

DISTRICT COURT TO CONVENE MARCH 14 (Continued from page and Lawrence Auker. (Damages.) Clarence Bliss, Receiver vs. Ernest Wascher, et al. (Foreclosure.) Emma Lampe Clarence Lampe (Separate Maintenance.) The State of Nebraska ex rel. County Farm Bureau et al. VS. Thomas E. Tighe et al. (MandamMabel Yotter VS. Edward Yotter. (Divorce.) John Betkie VS. Arthur Leisy. (Accounting.) Emma Glissman VS. Francis Kessinger et al. (Partition.) Clarence Wallace vs. Ellen Clemet (Foreclosure.) Anna Leisy The Farmers Mutual Home Ins. Co. et al. (On Policy.) Emma Glissman VS. Francis Kessinger. (Appeal.) Citizens Bank, Bancroft, VS. John Farley. (Appeal.) The State of Nebraska VS. Nebraska State Bank, West Point. (Receivership.) Esther Gilster vs. Louis Gilster. (Divorce.) Andrew Simonson VS. Nicholas Reuss. (Foreclosure Mortgage.) The Conservative Savings Loan Assn. Edward Farley al. (Foreclosure Mortgage.) Lizzie Thompson Howard R. Flores et (Foreclosure Mortgage.) The Federal Land Bank of Omaha Stephen Kafka, et (Foreclosure Mortgage.) Adolph Zicht VS. Ralph Case et (Damages.) E. H. Luikart, Receiver et al VS. Bernard Smith. (On Contract.y Marie Thompson Everett Thompson. (Divorce.) Ferdinand Uhing al. VS. Fred

8. May 2, 1932 The Hastings Daily Tribune Hastings, NE
Article from The Hastings Daily Tribune, May 2, 1932

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Article Text

BANKS PAY DIVIDENDS LINCOLN, Neb., May Depositors of three failed state banks have received dividends from liquidation of bank assets. The banks, per cent and amount of dividends paid were as follows: State Bank of Orleans, 20 per cent, first dividend, $25,369.80. Nebraska State Bank, West Point, cent, $20,563. Commercial Bank, Grant, 15 per cent, $5,995. The re-organized former Farmers and Merchants State Bank, of Benson, reopened for business Saturday under the of the Douglas County Bank, of Omaha.