3988. Union State Bank (Nezperce, ID)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1924*
Location
Nezperce, Idaho (46.235, -116.241)

Metadata

Model
gpt-5-mini
Short Digest
385b66d4

Response Measures

None

Description

Newspaper articles from Jan–Feb 1924 describe the Union State Bank as defunct, in liquidation, and having a receiver/liquidating agent involved. No run or depositor panic is mentioned — this is a regulator-led failure and liquidation (closure).

Events (3)
1. January 1, 1924* Suspension
Cause
Government Action
Cause Details
Bank had failed and is in liquidation under banking department supervision; assets contested in court and machinery removal stopped by appeal pending appointment of a receiver.
Newspaper Excerpt
entanglement is deplorable, and is one of those hardships entailed in a bank failure.
Source
newspapers
2. February 1, 1924* Receivership
Newspaper Excerpt
E. Scott, formerly the receiver of the defunct State Bank of Kamiah and at present liquidating agent of the banking department of Idaho, spent a few days here this week looking after the affairs of the old bank. ... Mr. Scott spent several days last week in Nezperce on matters connected with the liquidation of the Union State Bank.
Source
newspapers
3. February 21, 1924 Other
Newspaper Excerpt
Mr. Scott spent several days last week in Nezperce on matters connected with the liquidation of the Union State Bank. ... Mr. Scott received a warm greeting ... reports his family as well ... he went to Kooskia yesterday, expecting to start back home from there.-Kamiah Progress.
Source
newspapers

Newspaper Articles (2)
1. January 31, 1924 The Nezperce Herald Nezperce, ID
Article from The Nezperce Herald, January 31, 1924

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Article Text

HOPE FOR LOCAL MILL. The Prairie Flour Mills at this place. one of the very best little milling plants in the country, was involved in the failure of the Union State Bank, and since that occurrence the mill has been intermittently operated. The An glo-American Machinery Co., an eastern concern, has a claim on the m chinery, which claim has been sustained by the district court. In pursuance of this, the company this week put a force of men at work removing the machinery. But this activity was stopped yesterday by the filing of an appeal bond by the bank's attorney, who, it ,is understood, proposes to clarify the situation by securing the appointment of a receiver for the mill to act pending the result of the appeal of the case to the supreme court. The entanglement is deplorable, and is one of those hardships entailed in a bank failure. All interested are certainly hopeful of an early solution of the difficulty.

2. February 21, 1924 The Nezperce Herald Nezperce, ID
Article from The Nezperce Herald, February 21, 1924

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Article Text

FINE CHANCE FOR COUNTY. E. Scott, formerly the receiver of the defunct State Bank of Kamiah and at present liquidating agent of the banking department of Idaho, spent a few days here this week looking after the affairs of the old bank. At the Commercial Club luncheon yesterday Mr. Scott stated that the affairs of this bank are about ready to be liquidated but the payment of a dividend is held up awaiting the Supreme Court's decision in the Ft. Misery highway case, and a few other minor matters of litigation. Mr. Scott spent several days last week in Nezperce on matters connected with the liquidation of the Union State Bank. During his visit he made an offer to the county for the purchase of the Union State Bank's building, in which the county offices have been quartered since the building was built. The block, which contains the Shoemaker store and the bank on the first floor and the county offices on the second, cost about $60,000, but it is offered to the county for $20,000, which Mr. Scott thinks is a very attractive price. The county now pays $3,000 a year rental, the amount including also heat, and janitor service. He offers to make the payments easy, if the county so wishes. The offer surely looks like a fine chance for Lewis county to obtain a splendid building at a very low figure. A separate building, such as is usually put up for a court house, could not be built for much less than $75,000 or $100,000, and the block in question will be suitable quarters for this county for many years. The matter will be given consideration by the county board at its next meeting. Mr. Scott received a warm greeting from his many personal friends in Kamiah and reports his family as well and enjoying life in their suburban home at the state capital. He went to Kooskia yesterday, expecting to start back home from there.-Kamiah Progress.