Farmers & Merchants Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 25, 1930
Location: Wymore, Nebraska (40.122, -96.663)

Metadata

Model: gpt-5-mini
Short Digest: 32ebb85f

Response Measures

Full suspension

Other: Voluntary entry into receivership after failed reorganization attempts.

Description

Bank experienced a 'quiet run' that depleted cash and closed Saturday January 25, 1930. Officers turned the institution over to the state and later (March 1930) voluntarily entered receivership; receiver Clarence G. Bliss filed suits in July. Attempts at reorganization (including possible takeover) failed. Classified as run → suspension → closure with receiver.

Events (3)

1. January 25, 1930 Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy withdrawals / depositor loss of confidence that depleted the bank's cash reserves.
Newspaper Excerpt: The F. & M. Bank closed Saturday, January 25, after a quiet run, which depleted the bank's cash.
Source: newspapers

2. January 25, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Heavy recent withdrawals forced officers to close and turn the institution over to the state banking authorities.
Newspaper Excerpt: The Farmers & bank of Wymore failed to open its doors for decision to turn the institution over to the state reached late Friday by the officers of the bank. Heavy withdrawal of deposits recently force officers to decision.
Source: newspapers

3. March 13, 1930 Receivership

Newspaper Excerpt: Officials of the closed Farmers & Merchants Bank of Wymore have entered voluntary appearance for receivership for the bank. ... The F. & M. Bank closed Saturday, January 25, after a quiet run, which depleted the bank's cash.
Source: newspapers

Newspaper Articles (5)

1. January 25, 1930 The Grand Island Independent Grand Island, NE

Article from The Grand Island Independent, January 25, 1930

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Article Text

FAILURE DUE Farmers' Merchants' State bank Wymore, near here, failed open doors this morning. president, said that withdrawals deposits over time, responsible. He said he not think the heavy December the bank's total assets and deposits banking departhas been informed that decided voluntarily close the bank but words has been from Lincoln. The closing Wymore with In the bank raided which bandits secured and insurance. The bandits fled in auto after shooting up the town terrify No believed here that the bandits members the Fleagle gang. One ago the bank's deposits Today they $170,000.

2. January 26, 1930 Beatrice Daily Sun Beatrice, NE

Article from Beatrice Daily Sun, January 26, 1930

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Article Text

BANK WYMORE CLOSES Heavy Withdrawal of Deposits Recently Force Officers To Decision EXPECT LOSS TO DEPOSITORS LIGHT The Farmers & bank of Wymore failed to open its doors for decision to turn the institution over to the state reached late Friday by the officers of the bank. There still remains bank in Wymore, the First Heavy withdrawal of deposits in recent weeks was as the cause the closing. president of the bank, said Saturday that he did not believe the depositors would suffer serious loss, but at this time is possible to guess what banking department will be able to for the At the time of closing the deposits $170,000. At the statement, December 1929, deposits were That statement showed also loans and discounts of bonds and securities, exclusive of cash reserve, $28,679.11, cash and sight exchange $31,687.97 and bonds cash reserve $3,000.00. The bank building was carried other estate was $8,976.97. Robbed In 1928 The bank had no borrowed money. One year ago its deposits officers of the bank were D. Oelkers, president; Oelkers, vice president; W. DawA. cashier, cashier. The officers and Adkins Cumro tuted the board directors. In 1928 the bank was robbed bandits never loss due the robbery was made up by the Ben of the Lewiston Beatrice ness visitor Saturday.

3. March 13, 1930 The Weekly Wymorean Wymore, NE

Article from The Weekly Wymorean, March 13, 1930

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Article Text

F. & M. RECEIVER Officers of Bank Enter tary Appearance For Receivership to Liquidate at Once Officials of the closed Farmers & Merchants Bank of Wymore have entered voluntary appearance for receivership for the bank. their action coming Tuesday. after unsuecessful negotiations carried on for some time in an effort to reorganize the bank, by the depositor's committee. The F. & M. Bank closed Saturday, January 25, after a quiet run, which lepleted the bank's eash. On January 30 at mass meeting of depositors held at the suggestion of the state banking department, committee of depositors was appointto the banking board in an effort to reorganize the bank. The committee has tried several plans to keep the bank out of the hands of a receiver, but all have failed. At one time it was thought that arrangements could be made whereby the First National Bank might take over the bank, but negotiations failed. The bank officials, and the deposItor's committee came to the conclusion that receivership was unavoid able the first of this week. and the nction in asking a receivership followed.

4. July 9, 1930 Beatrice Daily Sun Beatrice, NE

Article from Beatrice Daily Sun, July 9, 1930

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Article Text

BABE SUSPENDED NEW YORK. July Ruth received three-day suspentoday the result of yesterday's with umpire Brick Owens. The Babe protested violently about the umpire's decision third strike against Charley Ruffing in the first game of yesterday's double header was ordered from the field. M. BANK RECEIVER FILES SUITS ON NOTES Two suits on notes have been filed Clarence G. Bliss, receivof the failed Farmers & Merchants bank Wymore. Gus Helmig made defendant suit on demand note for $980, made November 1929. upon which one payment of $60.80 credited. The other suit is against Albert Hogue and Charlotte Hogue, note for $192 made August 1929. Plaintiff asks GO TO ASHLAND Captain Dean Coonley announced Wednesday that Company will entrain on the mornAugust for the annual weeks at Ashland. On Saturday evening the boys will leave the city by motor trucks for an all-night hike and early morning battle maneuvers. Captain their destiwould be kept secret. PIER COLLAPSES PENNS GROVE, July persons the Wilson line pier here when feet collapsed last night were believed today to have been accounted for. Two of the number, Jennie Holmes. 63. and liam Scott both of Grove. are in hospital.

5. July 11, 1930 The Beatrice News Beatrice, NE

Article from The Beatrice News, July 11, 1930

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Article Text

DISTRICT COURT July 3, Frances Rains VS Robert O. Rains, divorce action. July 3, In matter of the application of the Church of the United Brethren in Christ of Beatrice, for authority to encumber church property July 3, Clarence G. Bliss, secy Dept. Trade and Commerce, of St. of Nebr., as receiver of Security Savings Bank, et al VS Beatrice Riverside Park Co., et al, foreclosure of mortgage. July 7, Clarence G. Bliss VS Mary Mattocks et, al, motion. July 7, State vs Charles Fulton, violation liquor law, information. July 7, State vs George Huckett, arson, information. July 7, State VS Fred A. Wright, violation state banking law, information. July 8, Norcorss vs Jakl, et al, foreclosure, voluntary appearance and disclaimer. July 7, State of Nebr., ex rel C. A. Sorenson, atty gen. VS Hinds State Bank, petition in intervention of Gage County. New Cases Filed July 9. Clarence G. Bliss, rec. of Farmers and Merchants Bank of Wymore, Nebr., vs S. Albert Hogue and Charlotte Hogue, suit on note. July 9, Clarence G. Bliss, rec. Farmers and Merchants Bank of Wymore, Nebr., vs Gus M. Helmig, attachment. July 9. Myra E. Sumner vs. Warren E. Sumner, divorce.